One of the worst things about international travel is having to take money out of an ATM. I used to hate withdrawing money abroad because there were multiple fees for each withdrawal and I wasn’t sure I was getting the best conversion rate. Then I discovered the Schwab checking card.
Charles Schwab is the best ATM card for international travelers for one simple reason: Schwab will reimburse ALL your ATM fees from any ATM you use IN THE WORLD. Sayonara, ATM concerns.
International ATM Fees
When you withdraw money internationally you typically pay:
- $3-$5 fee to your U.S. bank to withdraw money internationally
- $3-$5 fee to the local bank whose ATM you are using
- 3% foreign currency fee to convert dollars into the local currency
All of this adds up quickly, and makes accessing your money overseas very costly. A Schwab checking account has NONE of the fees listed above, making your international ATM trips much less painful.
On top of free international ATM withdrawals, Schwab also offers:
- No minimum balance requirements
- No monthly service fees
- Free overdraft protection
- 0.10% interest – not great, but better than nothing
Even if you’re not a perennial globetrotter, this lineup of benefits makes Schwab checking arguably the best checking account out there for anyone.
I have no connection to Charles Schwab, and (sadly) earn no commission from you signing up for an account. If you don’t trust me, there are plenty of other bloggers out there who also rave about Schwab checking.
Do yourself a favor and open an account if you have any plans for international travel in your future. You’ll have much more relaxed trips to the ATM if you do.