![]() This was especially true in countries that did not often accept credit cards. With free banking, ATM rebates, zero international transaction fees, and excellent customer support there are no downsides to the Charles Schwab debit card.ĭuring our year abroad, we used our Charles Schwab debit card weekly, and sometimes multiple times per day to pull out cash. I cannot think of a better debit card than the Charles Schwab bank card for international travelers. Our experience with the Charles Schwab Debit Card Here you can see our $54.98 ATM Fee Rebate after one month of travel. True to their word, Charles Schwab refunded us for ATM fees at the end of each month. On our trip, we always saw this rebate come through on one of our bank statements. Then they paid us back on Venmo.Ĭharles Schwab reimburses you for any ATM fee you may have been charged at the end of the month. In fact, we even pulled out money from our account for our friends when they were traveling with us so that they could avoid paying international ATM fees. But with my Charles Schwab travel debit card, I knew I would get my money back. If I had used any other debit card, that would have cost me at least $9.00. I used the ATM three times in one day while in Bali. Then, you can do it again and again if you want. Instead of trying to calculate how much money you should take out at the ATM to make your withdrawal worth it, you can pull out $20 if you only need $20. You’ll never have to pay an international ATM fee again, which is a huge perk for any traveler. I’ll talk more about this specific account further down in this post.Ĭharles Schwab has unlimited ATM fee rebates worldwideĪs mentioned earlier in the blog, the Charles Schwab debit card allows unlimited ATM fee rebates from any ATM anywhere in the world. The name sounds intimidating, but it’s not, I promise. To get the Charles Schwab travel debit card, you’ll need to open a specific type of checking account called the Schwab Bank Investor Checking™account. That is how the Charles Schwab debit card works for reimbursing ATM fees. You should see this on the last day of the month. ![]() If you look at your bank statement, you will see a deposit into your checking account from Schwab. Then, at the end of the month, Schwab refunds you the total amount of all ATM fees charged to you over the course of the month. How does this work for traveling and ATM fees? Initially, you pay the full cost for your ATM withdrawal (withdrawal amount + ATM fee). You can think of it as a retroactive discount. A rebate is a refund offered to a customer when a customer makes a purchase. The Charles Schwab travel debit card works through a rebate structure. How does the debit card work for Charles Schwab? If you are planning a trip overseas, you need the Charles Schwab travel debit card. That’s why debit cards exist, so you can access your cash that is stored safely in a bank account without worrying about someone stealing your money all the time.Īs you prepare to go on your trip, you’ll want to choose the right debit card to take with you.Īnd yes, there is a right debit card for traveling. There are higher chances of losing it, you’ll have to declare it at customs if you are carrying more than $10,000, and in the worst-case scenario, it will get stolen from you, leaving you with nothing. In 2023, carrying too much cash just doesn’t make sense for smart travelers. The potential risks of carrying too much cash while traveling are far too great and are easily avoidable by using alternative payment methods such as debit and credit cards. Rule number one when traveling abroad: Avoid carrying excessive amounts of cash. Why the Charles Schwab debit card is the world’s best debit card for travel in 2023.
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