Foreign transaction bank fees

Roberto

Roberto

Guest
NBA just tripled their charge for foreign transactions Looking for alternatives. Did a search here with incomplete results, so ......

Anyone using Charles Schwab Bank??? No fees and 100% refund for ATM fees charged by othr banks. Looks like the best deal.

What kind of deals do you all get??
 
Buffalo Marty

Buffalo Marty

Guest
I had Schwab for a long time and it worked like a charm for ATM rebates in Mexico. I later switched to Fidelity (just because I had other accounts with them) and they offer the same thing for their debit card. Its great in Mexico and even works at the few dollar based ATMs. i took out 80 US$ from the new ATM in the Sonoran Sea lobby and their were like 11 bucks in fees. They were reimbursed in full the next day!


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Roberto

Roberto

Guest
What is the bit about having to have an investment account or did I read that wrong?? Anyone explain? I have no interest in investing.
 
Buffalo Marty

Buffalo Marty

Guest
http://content.schwab.com/m/q310/schwab_bank_high_yield_investor_checking/ELC44427C-02.html

It appears that a brokerage acct is required in order to open the checking acct, but that the brokerage acct has no minimum balance (read 'fine print' item 4)- I'm not sure why this is. I haven't had my Schwab acct for a few years, but I think I did have to actually have 2 accounts- I think I left the brokerage acct empty or maybe with like 10 bucks or something like that.

I quickly read the details for the Fidelity Cash Management and it seems that for that one you can open just a stand-alone checking with no other accounts. (I use Fidelity but do have other accts with them so cant say 100%) I have used both though and they both worked like a charm. Heres the Fidelity link just as an FYI:

https://www.fidelity.com/cash-management/fidelity-cash-management-account/overview

One last detail- it seems that Scwab reimburses ATM fees at the end of every month- I don't seem to remember that from when I had the card, but maybe I just wasn't paying attention. But I know that Fidelity reimburses essentially as soon the the withdrawal posts- I usually get the fee rebates in 2-3 days after the withdrawal at most. Probably not a huge deal but food for thought.
 
Roberto

Roberto

Guest
Thanks Boot and Buffalo!! I had a Fidelity account years back but am pretty sure it's gone now. I may not have given them a forwarding address. Think I'll contact them.
 
Buffalo Marty

Buffalo Marty

Guest
Fidelity doesn't take anything out. I forgot to mention it the previous posts, but they also give you a pretty good exchange rate as well. Its pretty much right at the "world" market price.
 
GV Jack

GV Jack

Snorin God
I just received my Cap One statement from my trip in May and the Exchange rate 12.95 on the purchases.

Not bad. No fees.
 
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