Why does Euronet / mBank ATM have such a bad exchange rate?

Quite a specific question, but maybe someone knows. I have a regular eKonto card with the multi-currency service enabled in mBank, and I have connected a EUR account. I withdrew EUR in Poland from the Euronet ATM and it's not debited from the currency account, but what's worse, the exchange rate is about 10% higher than in the currency exchange office. Why is that?

Quite a specific question, but maybe someone knows. I have a regular eKonto card with the multi-currency service enabled in mBank, and I have connected a EUR account. I withdrew EUR in Poland from the Euronet ATM and it's not debited from the currency account, but what's worse, the exchange rate is about 10% higher than in the currency exchange office. Why is that?

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