There is NOTHING better. I have made the challenge on various forums and NO ONE can find a better card that does what Schwab does. It is the best ATM card for foreign travel and provides ATM fee refunds.
So far, people have suggested “Fidelity“. NOPE. They charge Currency Conversion Fee (or Transaction Fee) [Supposedly, “long-time” fidelity card-holders do not get charged the fee]. Others suggested “Ally Bank“. NOPE. They charge “up to 1% currency conversion and/or cross border transaction fee” [But still a contender if Schwab changes their program]. CapitalOne360. NOPE. Unless you are on THEIR Allpoint network, fees exists; and no refund of other ATM fees. Etrade. NOPE. They reimburse ATM fees depending on your balance; and they charge 1% currency conversion fee. Citibank. NOPE. Not even close … 3% fees plus fees for using another ATM. FirstRepublic. BORDERLINE. Reimburse some ATM fees, no foreign exchange fees. Only available to residents of some states. USAA Debit Card. NOPE. 1% foreign transaction fee and $15USD reimbursement limit per month. Bank of America through Global ATM Alliance. NOPE. Fees not waived and NO alliance members in Asia. Local Credit Unions. Acceptable – but you have to find one in YOUR area and qualify. State Farm Bank. NOPE. They will rebate fees based on the account you hold. They “pass through” the 1% VISA foreign currency conversion fee, careful to say they “do not charge any fees”. Their website states you must CALL to have your ATM rebates applied to your account.
So who has potential if we lose Schwab: Ally Bank, First Republic, State Farm Bank. But none of them are “free”!
Schwab is the BEST ATM Card for international travel or a US Citizen living in a foreign country (best ATM card for an expat by far!).
No Monthly Service Fee. No Minimum Balance Required. No Limit on ATM Rebates. No Foreign Currency Conversion Fee (Schwab “absorbs” the VISA 1% fee). No Annual Fee. Great customer service.
As I am writing this, I don’t know what to say. It is the best ATM card for travelers and there really is NO hype or pitch needed. It is FREE. Gets you access to your money FREE. There is no other card in the world like it. It refunds ATM fees. ALL OF THEM.
Open a no fee ATM rebate checking account and the card is sent to you. There are no ATM conversion fees and no annual fee.
In Thailand, EVERY bank charges 180-baht ($5.45USD) to use your international card in the ATM.
In Philippines, EVERY bank charges 200-peso ($4.55USD) to use your international card in the ATM.
I don’t know about other countries, but these are the important ones to me. I need money all the time and having to pay all the fees and charges would be terrible! Especially since some of the US banks ALSO charge a fee if you used someone else’ ATM network! These fees and charges can add up fast!
SCHWAB PROVIDES FREE ACCESS TO YOUR MONEY. That is the way it should be!!