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Charles Schwab ATM card - NO FEES!

Anniesantiago

Veteran Member
Time of past OR future Camino
2006 to date: Over 21 Caminos. See signature line
I have been looking for a good bank that would not eat up my traveling money with fees!
Bank of America charges a whopping percentage on ATM withdrawals, conversion fees, and even when clients wire money INTO my account! Unbelievable!

I'm tired of their bull*^#$!!

This week I pulled all of my money out of Bank of America and put it into a Charles Schwab High Yield Checking Account.
NO FEES to open the account.
NO FEES to use the ATM card anywhere in the world.
If the bank you are using charges you a fee, they REIMBURSE you at the end of the month!
NO conversion FEES!

The only drawback is that this is an online bank account. There are very few brick and mortar buildings where you can walk in and make a deposit. You can make your deposits via mail or via smartphone (photo of the check). They will mail you deposit slips to use.

I read through the over 700 feedback posts and people love this account.
I also did a lot of reading at the Rick Steves' website on Schwab and people love the ATM card which appears to work fine in France and Spain.

I already had a Schwab investment account, but I don't think you need one to open the checking account.

Anyway.. I thought I'd pass on the info.
You can apply online and best of all, call and speak to a HUMAN who will be very helpful.

I think I'm in love...
 
Train on the 4-day Catalina Camino
Train for your next Camino on California's Santa Catalina Island March 16-19
OK, I did it. If it does not work as represented, I will let the Forum know.
 
My Schwab card works fine in the ATM's, without fees..

For card purchases, I use a Captal One credit card, because they don't have a foreign currency surcharge.
 
Camino Cleanup Program & Retreat
Join the Camino cleanup. Logroño to Burgos May 2025 & Astorga to OCebreiro in June
I have heard the Capital One credit card is also good.
Unfortunately (or fortunately) I no longer have credit due to a medical bill issue...

BUT.. I'm looking forward to hearing the report back on Schwab!
 
Annie:

I checked out the Schwab site and spoke to a representative. They actually work through Visa. There are no exchange fees charged by them and they say they will reimburse all fees charged by local bank in Spain. Did not ask if that happened automatically or if there was a process that required action on users part. The only fee would be the one charged by Visa. Today for instance the Euro is at $131.70 = $100. They would charge you at 132.55. That is .85 per 100€. A very good rate. As long as the card works everywhere this is a great deal.

Thank you for sharing.

Ultreya,
Joe
 
I have used my Schwab ATM card in Sept-Oct 2011 throughout France, and in Nov-Dec 2011 throughout Switzerland, France, Germany, and Belgium (it was a Christmas Markets cruise on the Rhine, so no, I wasn't walking that one!). Card worked satisfactorily at a wide variety of banking institutions; I never bumped into the daily withdrawal limit which had previously been an issue with Bank of America. There were no ATM fees assessed in Europe; ATM fees from banks in the US were automatically refunded to the account (no action necessary on my part).

As with all ATM cards, be sure you contact your bank before departing on your trip, to advise them you will be making transactions from oddball locations and that it really is you doing this, not some thief (I don't know whether the non-US banks are as thorough on this fraud prevention measure). I called Schwab and actually talked to a live person to give them this information, and it was quite fast (not so much Bank of America, which has an impossible-to-navigate phone tree).
 
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The one from Galicia (the round) and the one from Castilla & Leon. Individually numbered and made by the same people that make the ones you see on your walk.
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