jimgilly Posted October 28, 2022 Share Posted October 28, 2022 I've been thinking about opening a CS International account mainly for the atm fee reimbursements they provide. Any experiences, good or bad, and what would they be? Thanks Link to comment Share on other sites More sharing options...
LaosLover Posted October 28, 2022 Share Posted October 28, 2022 Peerless customer service, I am a 30 year customer and wouldn't change for anything. Added bonus: They reimburse you a decent exchange rate, not what it says on the ATM screen, partic for baht. 1 Link to comment Share on other sites More sharing options...
riclag Posted October 28, 2022 Share Posted October 28, 2022 I opened my account in the states over 3 years ago ! I have a brokerage and checking account ! Its not mandatory but i invested one hundred dollars in the brokerage account. There is a added advantage in having the checking account also besides the obvious (fee free) but the reason escapes me now lol. Get a security key device to access your online account,it acts like another layer of security , which they recommend. Link to comment Share on other sites More sharing options...
bluebluewater Posted October 28, 2022 Share Posted October 28, 2022 I've had both a brokerage and checking acct for years. I would not change a thing. I've traveled extensively with nary a problem and all ATM fees returned. Go for it! Link to comment Share on other sites More sharing options...
Popular Post biervoormij Posted October 28, 2022 Popular Post Share Posted October 28, 2022 I have US Charles Schwab accounts and love them but don't have any experience with an international account. I asked them prior to applying for my Thai retirement visa if I could us a Thai address and they told me I would need to convert to an international account. I have a US virtual address so did not convert the account. I also have a skype US phone number and even though I am not able to receive text messages Schwab will do an automated phone call for One Time Passwords. If you find out if there are any differences in the International account compared to the US accounts can you please share them. 2 1 Link to comment Share on other sites More sharing options...
JimmyJ Posted October 28, 2022 Share Posted October 28, 2022 (edited) I also have a USA account - Checking, and Brokerage. Agree with the concensus - Excellent CS, No hassles, Full reimbursement. They for years offered a 100 USD bonus for opening the 2 accounts. Do a search - they may still offer it. Edited October 28, 2022 by JimmyJ 1 1 Link to comment Share on other sites More sharing options...
jimgilly Posted October 29, 2022 Author Share Posted October 29, 2022 Thanks for all the replies. No address in the US and worried if I used a virtual address and they found out later if my account would be cancelled. From what I've heard the requirement is $25,000 to open the international account but once opened there is no minimum balance required. That wouldn't be bad if that turns out to be the case and there is no limit to the amount of ATM fee reimbursements each month. That would be the cheapest way to move some US $ I have to Thailand and allow me to do it within time frames when exchange rates are favorable. 1 1 Link to comment Share on other sites More sharing options...
Iamfalang Posted October 29, 2022 Share Posted October 29, 2022 Once my a;sldkjkfsa;lfdjfsd ex-wife sends me money due, I'll open an account there as well. lawyers involved, will be next year. LOSingle let's go!!! Link to comment Share on other sites More sharing options...
JimmyJ Posted October 29, 2022 Share Posted October 29, 2022 (edited) ~~~~~~ Edited October 29, 2022 by JimmyJ Link to comment Share on other sites More sharing options...
retiree Posted October 29, 2022 Share Posted October 29, 2022 Question for somebody with a Schwab International account (if you happen to know, or if it's ever convenient to ask). Schwab sells a variety of immediate annuities. Typically payment continues to a beneficiary if the annuitant dies. Will they accept a Thai beneficiary who has no US address or bank? Thanks, -- Retiree Link to comment Share on other sites More sharing options...
Pinot Posted October 31, 2022 Share Posted October 31, 2022 On 10/29/2022 at 3:10 PM, retiree said: Question for somebody with a Schwab International account (if you happen to know, or if it's ever convenient to ask). Schwab sells a variety of immediate annuities. Typically payment continues to a beneficiary if the annuitant dies. Will they accept a Thai beneficiary who has no US address or bank? Thanks, -- Retiree I don't know, but I doubt it. Annuities are rarely the best route to go, anyway. Link to comment Share on other sites More sharing options...
jimgilly Posted November 4, 2022 Author Share Posted November 4, 2022 I was about to complete an application for the international account and was told by one of their stateside employees the maximum amount per ATM withdrawal is only $500, with a daily limit of $1000. That would mean to get out $1000 it would require 2 withdrawals per day or 440 baht in Thai bank fees. So if I wanted to get say $10,000 out in a month that would be 4,400 baht in fees and I wonder if they would then put a limit on the amount of ATM withdrawals I could do each month. Has anyone made any large number of ATM withdrawals in a month with the CS debit card and were there any problems doing so? Thanks Link to comment Share on other sites More sharing options...
JimmyJ Posted November 4, 2022 Share Posted November 4, 2022 (edited) 17 minutes ago, jimgilly said: ... was told by one of their stateside employees the maximum amount per ATM withdrawal is only $500, with a daily limit of $1000. HUCA! (Hang Up, Call Again). For USA accounts - Unless they changed the rule very recently, it is 1k USD Withdrawal per day, in 1 Withdrawal if you can find a Thai ATM which will allow it. I know you asked about an Int'l. account - I would definitely check with a 2nd person. Call during USA banking hours. Edited November 4, 2022 by JimmyJ 1 Link to comment Share on other sites More sharing options...
bluebluewater Posted November 4, 2022 Share Posted November 4, 2022 All of you ATM fees are refunded so no worries there . . . I withdraw from a Thai ATM machine 20,000Bt every two weeks (even when the US$ exchange rate was much lower than it is now) and it was a smooth transaction every time. I never had the need to try to pull more than that so I couldn't tell you about $1,000 USD or more. 1 Link to comment Share on other sites More sharing options...
poobear Posted November 4, 2022 Share Posted November 4, 2022 I live in Thailand full time and have Schwab international accounts. One Joint with my wife, a separate brokerage account in my name only and some IRAs. The problem with the international account that they don't tell you is they have completely different rules when the owner dies. The accounts pass to the estate. NO BENEFICIARIES. Even with a joint account with my wife she can only access 25% of said joint account. My international brokerage accounts cannot have beneficiaries and also have to go through probate and the IRS. Of course I did not know this when I set up the accounts. BE WARNED an internation account has different rules to claim funds apon death. This is the process direct from schwab. If all this seems like a big hassle you're right, it is. I wish I knew this before I transferred everything into an international account. Below is a letter from Schwab outline what needs to be done befre they release your funds. Schwab International Estate Specialist Dove Hagan [email protected] Use Skype (888) 297-0244 EXT. 53745-Fax 888-526-7252-Tel +1 (415) 667-8400 If person is a resident of Thailand at the time of his passing: The Designated Beneficiary (normal brokerage account) and Joint Account will default to the estate. Joint accounts are restricted until the IRS Transfer Certificate is and your wife and joint owner is limited to 25% for living expenses. Beneficiary account is (i think)100% frozen How to claim money from Schwab Schwab will require the following documents for the Joint and beneficiary accounts. 1. Copy of Probate or Succession Document issued by the Court naming the Executor/ Administrator of the estate. 2. Copy of the Executor/ Administrator’s valid Passport 3 *IRS Transfer Certificate*. The executor/administrator will be required to reach out directly to the IRS to apply for the IRS Transfer Certificate. The IRS requires you to send all the below information to: Internal Revenue Service Center Attn: E&G, Stop 824G 7940 Kentucky Drive Florence, KY 41042–2915 1. (a) Report of the Death of an American Citizen form U.S. Embassy (b) death certificate (c) copy of the photo page of the David’s U.S. passport. Write a letter saying you are the executor of the will and swear that this is the whole complete list of David’s assets and bring to Notary at a lawyers office and have them notarize it. 3. (a) One copy of asset inventory filed with probate authorities, with English translations if in another language. 4. (a) If Thailand does not have a death tax or inheritance tax, please provide a copy of the last income tax return). 5. Copies of the David’s last will, with English translations. If any of the above-listed items are not available, write a letter and explain why. It takes IRS six to nine months from the time the IRS receives all necessary documentation to process and return. 2 Link to comment Share on other sites More sharing options...
Thailand J Posted November 5, 2022 Share Posted November 5, 2022 I keep most of my assets in my Vanguard and Fidelity accounts, all accounts with beneficiary designated, " transfer on death". Nothing to worry. Schwab and Interactive Brokers accounts with Thai addresses do not allow beneficiary designation. Make a will, keep it with my Thai lawyer, he should know what to do. They are much smaller accounts, nothing to worry. Schwab and IBKR are more user friendly with convenient and free oversea online wire transfers. Transfer money or stocks from Vanguard to Schwab is very easy with ACH and the Automated Customer Account Transfer Service (ACATS). Transfers can be ordered on Schwab site and it is not a taxable event until I sell the stocks. Cost basics information will also be automatically transferred to help me with tax reporting. Link to comment Share on other sites More sharing options...
Thailand J Posted November 5, 2022 Share Posted November 5, 2022 10 hours ago, poobear said: 3 *IRS Transfer Certificate*. The executor/administrator will be required to reach out directly to the IRS to apply for the IRS Transfer Certificate. Transfer Certificate is not required if the executor/administrator is appointed and acting in US. If I name a US person in my will to be the executor/administrator, is it possible to get a US court to probate my will while my address is in Thailand? Which district/county court will appoint the executor? https://www.irs.gov/businesses/small-businesses-self-employed/transfer-certificate-filing-requirements-for-the-estates-of-nonresident-citizens-of-the-united-states Link to comment Share on other sites More sharing options...
poobear Posted November 5, 2022 Share Posted November 5, 2022 Transfer Certificate is not required if the executor/administrator is appointed and acting in US. If I name a US person in my will to be the executor/administrator, is it possible to get a US court to probate my will while my address is in Thailand? This is the problem. Someone/ your executor is going to have to swear/sign an affidavit stateing you are domiciled in a specific state in the U.S. My us executor is also a notary. I had a hard time asking my notary to lie on a document that she has to notarize. The whole estate thing gets very complicated when you change your address to overseas. I would just avoid it if possible. In my case it was not. If you know some way around this I would love to know but all my research and experience leads through probate and the IRS Which district/county court will appoint the executor? Link to comment Share on other sites More sharing options...
riclag Posted November 5, 2022 Share Posted November 5, 2022 (edited) On 10/28/2022 at 10:37 PM, biervoormij said: I have US Charles Schwab accounts and love them but don't have any experience with an international account. I asked them prior to applying for my Thai retirement visa if I could us a Thai address and they told me I would need to convert to an international account. I have a US virtual address so did not convert the account. I also have a skype US phone number and even though I am not able to receive text messages Schwab will do an automated phone call for One Time Passwords. If you find out if there are any differences in the International account compared to the US accounts can you please share them. I’m curious too! Good thread ! I have used CS (not international acct)since 2019 ! I take out 30k 2 or 3 x a month , using the krungsri bank or on rare occasions Tmi bank, both banks atm allow 30 k max!. My card expires in June . I have to have another one mailed to my USA address . I haven’t decided yet to go back to the states, to visit or have my daughter send it here! Edited November 5, 2022 by riclag 1 Link to comment Share on other sites More sharing options...
Berti Posted June 6, 2023 Share Posted June 6, 2023 Schwab International requires a Tax ID No. for account opening. How did you open an account with your Thai residency if you don't have a Thai Tax ID? Any ideas? Link to comment Share on other sites More sharing options...
CartagenaWarlock Posted June 6, 2023 Share Posted June 6, 2023 I have a Schwab Checking account that offers ATM reimbursement. I used it initially when I came to Thailand to get money from ATM and get my ATM fees reimbursed. Later I opened multiple Thai accounts and and now I hardly use it. I moved all the money I had there to another account that offers better returns. Now may be I have $50 sitting there. Link to comment Share on other sites More sharing options...
Everyman Posted June 7, 2023 Share Posted June 7, 2023 On 11/4/2022 at 9:14 PM, jimgilly said: I was about to complete an application for the international account and was told by one of their stateside employees the maximum amount per ATM withdrawal is only $500, with a daily limit of $1000. That would mean to get out $1000 it would require 2 withdrawals per day or 440 baht in Thai bank fees. So if I wanted to get say $10,000 out in a month that would be 4,400 baht in fees and I wonder if they would then put a limit on the amount of ATM withdrawals I could do each month. Has anyone made any large number of ATM withdrawals in a month with the CS debit card and were there any problems doing so? Thanks Why don’t you just SWIFT transfer the money to a Thai account? Why mess around doing ATM withdrawal in cash? 2 Link to comment Share on other sites More sharing options...
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