Charles Schwab Debit Card: No ATM Fee Worldwide (2016.7 Update: $100 Bonus)



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Charles Schwab Visa Platinum Debit Card (Charles Schwab ATM Card, Schwab Bank High Yield Investor Checking Account) Review

Many people need to travel abroad frequently, and they usually ask the question: what is the best debit card to withdraw cash from ATM abroad? We all know that in some countries, credit cards are not as broadly accepted so you often need cash. However, most debit cards have exorbitant fees when withdrawing from privately owned ATMs or those of different banks, not to mention foreign transaction fees. Charles Schwab is a magical bank, the Charles Schwab debit card has NO ATM fees worldwide!

Application Link

Features

  1. $100 sign-up bonus without any requirement, just use the above link to open the account. It is a referral program but the referrer does not get a bonus so you can just use the link above!
  2. NO ATM fees worldwide! Sometimes the ATM side will charge you a fee, but Charles Schwab will reimburse these fees in the end of the month, this guarantees that no fees will be charged in the end!!!
  3. When you withdraw cash abroad, you can get local currency automatically, according to the exchange rate on the day, which is very convenient!
  4. $0 monthly fee, no minimum deposit requirements.
  5. This debit card is a Visa card, so you can withdraw cash from almost every corner in the world.

Disadvantages

  1. Applying for this Debit Card will result in a Hard Pull (HP) on Equifax (EQ).
  2. Daily ATM withdrawal limit: $1000.
  3. The checking account is associated with an brokerage account, and in order to get the debit card, you must also open the brokerage account. But it is totally free of charge, so it’s fine.

Points for Attention

  1. You must be a U.S. Person to apply for this card online. If not, the application will not be processed online and you have to go to a local branch.

Summary

This debit card is a must-have if you need to travel abroad! Though they are better known for their investment products, their debit card is really fantastic. It is similar to the Fidelity Check Card, you can compare these two and choose one of them. The main difference is that the Fidelity Check Card has a 1% Foreign Transaction Fee (FTF), while the Charles Schwab Debit Card doesn’t. Also, applying for the Fidelity Check Card does not result in a Hard Pull and the ATM withdrawal limit is $500, as opposed to $1000 for the Charles Schwab.

Application Link


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