please explain a " foreign currency account"

[madisongy]

Jerry921.....agree.  For my purposes, this was a short term solution to changing my ATM card which resulted in horrible exchange rates and a $27 transaction fee.   Figuring there were no fees for pulling USD, I was thinking of establishing a FCA.  But, based on the fees, I'll establish a new US based account....probably Schwab since no fees.....and go back to the ATM.   Hope Schwab gives a decent exchange rate.

Side note, my US credit card gives me a better rate than the banks or exchanges here.  I use that where I feel it's safe........Tops, AIS, etc.  

I've got an Ally Bank debit card......anyone tried using one of those here?   They could not give me a straight answer regarding fees / exchange rates.