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Charles Schwab checking account just for foreign travel?

Charles Schwab checking account just for foreign travel?

Old Mar 15, 2015, 4:11 am
  #1  
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Charles Schwab checking account just for foreign travel?

Opened a Charles Schwab low balance checking account (along with $1 investment account) just for my extended overseas travel/living no fee ATM withdrawals. Just wondering if anyone ever heard them closing accounts on those that just use their accounts in this manner. thanks.
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Old Mar 15, 2015, 4:29 am
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@:-)
Originally Posted by phiota
Opened a Charles Schwab low balance checking account (along with $1 investment account) just for my extended overseas travel/living no fee ATM withdrawals. Just wondering if anyone ever heard them closing accounts on those that just use their accounts in this manner. thanks.
I have let my balance go low on occasion, and haven't had any problems, but I try to keep at least $3k in it because I really value their services.
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Old Mar 15, 2015, 5:24 am
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if you just keep buck in the account,how can you draw money? i have an Etrade account and draw and check from it. however, i did not think i could have a complete negative balance.
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Old Mar 15, 2015, 7:45 am
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Originally Posted by slawecki
if you just keep buck in the account,how can you draw money? i have an Etrade account and draw and check from it. however, i did not think i could have a complete negative balance.
Their checking & investment accounts are separate accounts. They require you to open up an investment account when you open up the free checking account.
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Old Mar 15, 2015, 7:55 am
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i make a bulk transfer a couple of times a year to pay US credit cards (which is still favorable to local cards for rewards)... otherwise the only other usage is ATM withdrawal which is 100% foreign...

they havent closed the account
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Old Mar 15, 2015, 10:38 am
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Charles Schwab checking account just for foreign travel?

i didn't know anyone had a no fee foreign atm account, interesting. i currently use my USAA, but the debit card doesn't have visa or mc, so it doesn't work in all atm's. is the Schwab debit card either visa or mastercard?
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Old Mar 15, 2015, 10:39 am
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Originally Posted by raybolt
i didn't know anyone had a no fee foreign atm account, interesting. i currently use my USAA, but the debit card doesn't have visa or mc, so it doesn't work in all atm's. is the Schwab debit card either visa or mastercard?
Visa
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Old Mar 15, 2015, 11:18 am
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Originally Posted by moondog
Visa
Thanks for the quick response, i'll have to look into this

Dan
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Old Mar 15, 2015, 5:05 pm
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My Fidelity ATM reimburses ALL ATM fees.
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Old Mar 15, 2015, 10:06 pm
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Originally Posted by sactoflyer
My Fidelity ATM reimburses ALL ATM fees.
As does Schwab. Besides, don't Fidelity checking accounts have a forex fee?
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Old Mar 15, 2015, 10:52 pm
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The Schwab card would have come in handy when I was in the Dayton area last year. Had to use my BoA card and eat fees (no BoA branches anywhere near Dayton) because few people at the event I went to were set up to take credit cards. In fact, that's pretty much what got me to apply for the account.

I also heard reports of Schwab not automatically crediting ATM fees from foreign ATMs, but they credited fine for me when I went to Mexico last month. ^
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Old Mar 15, 2015, 11:16 pm
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chip and pin cards? or chip and sig? im looking for a chip and pin card, going to europe in october.
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Old Mar 15, 2015, 11:37 pm
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Originally Posted by indelible
chip and pin cards? or chip and sig? im looking for a chip and pin card, going to europe in october.
If you try to use it for purchases outside the US, chip and signature.
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Old Mar 16, 2015, 2:30 am
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Does Charles Schwab still do hard pull when opening account? I got a HP from them when I tried to open an account. And the most stupid thing was they refused to open because I was traveling outside the US (still US address and everything, only IP was foreign)
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Old Mar 16, 2015, 3:31 am
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Originally Posted by johnnie198x
Does Charles Schwab still do hard pull when opening account? I got a HP from them when I tried to open an account. And the most stupid thing was they refused to open because I was traveling outside the US (still US address and everything, only IP was foreign)
I would assume so because step one is getting the brokerage account, which presumably has the potential go under water if you trade derivatives and/or on margin.
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