Charles Schwab International Account

[jimgilly]

Does anyone have any experience with the Charles Schwab International Account?  I know they initially require a $25,000 deposit but after that I don't think there is any minimum amount to keep the account open.  

 

Also, wondering how well their customer service is and if reimbursement for ATM fees runs smoothly?  Any information would be appreciated.

[tonray]

I have a regular Schwab account as I use my sister's address as mine in the USA. Customer service is the best of any financial company I have ever dealt with and when I make an ATM withdrawal, the fee reimbursement is booked pretty much the same time the withdrawal hits your account. No worries...Schwab is a great company.

[jimgilly]

2 minutes ago, tonray said:

I have a regular Schwab account as I use my sister's address as mine in the USA. Customer service is the best of any financial company I have ever dealt with and when I make an ATM withdrawal, the fee reimbursement is booked pretty much the same time the withdrawal hits your account. No worries...Schwab is a great company.

Thanks tonray for the feedback.  Don't have a US address so will need to open an international account with $25k but that's ok.  Right now the money is just sitting in a credit union doing nothing.

[JimmyJ]

Same experience as tonray.

 

(USA account).

Edited July 14, 2021 by JimmyJ

[higgy88]

I've had a Schwab brokerage account for probably close to 40 years.  About 10 years ago, I no longer had a US address I felt comfortable using, so I gave Schwab my Thai address and they said I had to open an international account, so I did.  In a nutshell, I find Schwab international a PITA to deal with.  And anytime I have to contact them, as soon as they see I have a Thai address, Schwab USA will no longer deal with me and will immediately transfer me to international.

 

I cannot answer your question on the 25k initial deposit as that did not apply to me, and I also cannot answer your question on the ATM as I no longer have an ATM debit card with them.  I can only answer any questions you may have on their customer service.

[GrandPapillon]

eTrade doesn't have a min. account size for international accounts, and it has great UX now.

 

and zero commission on trades,

 

credit cards used to be free with no ATM fees, not sure if they still issue them for international accounts because of Department of US Treasury crackdown on illegal international money and ML

[jimgilly]

5 hours ago, higgy88 said:

I've had a Schwab brokerage account for probably close to 40 years.  About 10 years ago, I no longer had a US address I felt comfortable using, so I gave Schwab my Thai address and they said I had to open an international account, so I did.  In a nutshell, I find Schwab international a PITA to deal with.  And anytime I have to contact them, as soon as they see I have a Thai address, Schwab USA will no longer deal with me and will immediately transfer me to international.

 

I cannot answer your question on the 25k initial deposit as that did not apply to me, and I also cannot answer your question on the ATM as I no longer have an ATM debit card with them.  I can only answer any questions you may have on their customer service.

higgy88, bit confused because you said you have an international account and weren't required to initially put in $25k but I know that is now a requirement. 

 

Biggest question I have is why you have problems with them transferring you to their international department when you now have an international account?  Are there other problems you've had other than that?

[higgy88]

12 hours ago, jimgilly said:

higgy88, bit confused because you said you have an international account and weren't required to initially put in $25k but I know that is now a requirement. 

 

Biggest question I have is why you have problems with them transferring you to their international department when you now have an international account?  Are there other problems you've had other than that?

 

I did not open a new international account but transferred all my investments from an existing account, which had over 25k in it, and kept the same account number.

 

I do not wish to go into any details here as to why I have found Schwab International such a pain in the ass to deal with.  Maybe it's because I was so used to dealing with Schwab USA, who was such a pleasure to deal with.    They may be a part of the same big corporation, but are very different departments.  I am just very happy that they didn't close my account and I am still able to invest in US securities, although I am very much in bear mode right now. 

 

 

[jimgilly]

Thanks for the replies.  I'll probably just stick with the credit union I'm with, though not perfect, at least I know what I am dealing with. 

[VocalNeal]

So what kind of interest do you get with an international account? Asking for a friend.????????????

[gk10012001]

On 7/14/2021 at 4:36 AM, GrandPapillon said:

eTrade doesn't have a min. account size for international accounts, and it has great UX now.

 

and zero commission on trades,

 

credit cards used to be free with no ATM fees, not sure if they still issue them for international accounts because of Department of US Treasury crackdown on illegal international money and ML

I have been with Etrade for almost 20 years now.  They still automatically reimburse ATM fees inside the USA, but not overseas, at least not with my regular checking or money market checking accounts.  I also have a regular brokerage account with them and a Traditional IRA account into which I have rolled over all the various 401k accounts I gathered over the years working at different companies.  I do plan to add some Schwab account soon as my assets have increased past 1 Mil USD and I think it is a good idea to split things up a bit.  Etrade was just or is about to be bought up and I fear changes and stuff will end up coming

[StarJedi]

Hey jimgilly,

I am dealing with Interactive Brokers. I opened the account with a Thai adress.
I am quite satisfied with the way it is working.

If you want, I can refer you a link and you and me will receive a bonus.

Interested ?