FlyerTalk Forums - View Single Post - Foreign exchange rates discussion [FOREX]--all cards

Dec 12, 2015, 11:12 pm

#133

tmiw

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Quote:

Originally Posted by Bow Rider

I'll second the awesome thread comment, very useful information.

FWIW, Charles Schwab offers an ATM/debit card with no foreign exchange fees and no ATM fees anywhere in the world (though it is a VISA card). The underlying checking account has no minimum balance or monthly fees. You have to open a brokerage account at the same time although you don't have to fund it. Applying incurs a hard pull.

After reading this thread the VISA card aspect makes it somewhat less desirable but I think it is still better than any other cash getting card that I have. I'll be in Chile next week and I'll compare exchange rates with a USAA MC debit card.

Debit is a bit different because there are things like ATM fees to consider too. On that basis a no-FTF Visa card that refunds ATM fees may work out just as well or better than a no-FTF MasterCard that doesn't, for instance. Schwab's card is still a pretty good value IMO.

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