Does the Schwab Card Really Refund ATM Fees?

schwab Refunds your fees

YES.  And if I didn’t say it enough, “I love the Schwab ATM Card”.  No other card will refund ATM fees and ATM charges 100%.  They also offer the best ATM Rebate Checking account with no annual fees.  You only need one checking account — and that is Schwab!

Usually all my rebates from Schwab are conversions, because I was charged in another currency.  Because of that, it isn’t as clear when trying to show an example of the actual rebate.

However in June, I only used by card once for an ATM withdrawal, and it was to withdraw USD at the Suvarnabhumi Airport in Bangkok.  The ATM charge for this is $3.00 and it is in USD.

You can see below that on 6/2 I withdrew $500USD plus the $3USD Fee.  On 6/30/15, Schwab refunded my $3.00USD Fee.

Schwab is the number one ATM card in the world

The other reason it is not dollar-for-dollar clear in other examples is because of the exchange rate.  When you receive your refund at the end of the billing cycle, it might be MORE or LESS than you actually paid in fees depending on what happened to the exchange rate.

In the example below, I withdrew 25,000-baht plus 180-baht fee on January 4.  I received 32.86 baht/USD on that day.

At the end of the month, Schwab refunded my 180-baht fee at the current rate.  I received 32.85 baht/USD.

Calculating the fee rebate at the end of monthCan’t praise the card enough.  It is the best card for expats and the best card for international travelers!

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