ATM fees for foreign Cards -

[TallGuyJohninBKK]

On 5/15/2023 at 4:05 AM, scubascuba3 said:

Yeah I've heard people bang on about it before, like i said they probably charge in other ways

In Schwab's case, no, they don't.

 

[scubascuba3]

1 minute ago, TallGuyJohninBKK said:

In Schwab's case, no, they don't.

 

Probably their account charges are higher than cheaper alternatives 

[TallGuyJohninBKK]

Just now, scubascuba3 said:

Probably their account charges are higher than cheaper alternatives 

Schwab US has no routine account charges associated with their checking account and VISA debit card.

 

Their main requirement is that you open a free brokerage account with them, but you don't have to actually fund or use it.

 

[TallGuyJohninBKK]

On 5/16/2023 at 2:59 PM, Pib said:

And for those brave souls using a home country "credit card" for a cash advance there will most likely be an approx card-issuing bank 3% cash advance fee "plus" a foreign transaction fee....and don't forget the possible Thai bank counter withdrawal fee of approx Bt200 or ATM Bt220 fee. 

I've seen a lot of U.S. issued credit cards up their "cash advance fee" up to 5% lately, from the 3% that was common/typical in the past.  That's definitely one you want to avoid for that reason alone, if one's credit card has that kind of fee.

 

 

[TallGuyJohninBKK]

1 hour ago, Pib said:

Schwab and Service Credit Union---all foriegn transaction/ATM fees reimbursed.  

Schwab's U.S.-based account is flat out no foreign transaction fees / domestic and intl ATM fees reimbursed.

 

Service Federal Credit Union is a bit more nuanced, as they require certain kinds of account activity -- such as a monthly direct deposit -- to qualify for their fee reimbursements. And, unlike Schwab, to open a SFCU account, the applicant or someone in their family needs to have some U.S. military service background, OR have joined one of several private associations (which in reality is pretty easy to do).

 

Also unlike Schwab, their ATM and ISA fee reimbursements are not unlimited, but are capped at varying amounts per month.

 

From SFCU:

Who Qualifies for Membership?

There are many ways to become a member of Service Credit Union! Membership is open to anyone in the below qualifying groups:

• Active duty military, veterans, and their families
• Anyone who currently works (or worked) for the Department of Defense, as well as their families
• Members of one of our Select Employer Groups
• Members of the American Consumer Council (ACC). Not a member? Visit the ACC online, click “join now” and use promo code “Service” to join free of charge.
• Members of the Financial Fitness Association (FFA).  Not a Member? Learn more about the FFA by clicking here. Ready to join? We’ll help you get signed up! Once you join the FFA, a confirmation email will come directly to you with all of your login credentials.

https://servicecu.org/about-us/become-a-member/

 

Edited July 8, 2023 by TallGuyJohninBKK

[TallGuyJohninBKK]

On 5/16/2023 at 8:21 PM, Pib said:

DCC good for the bank, bad for the customer. 

Anytime the Thai ATM screen is showing you your withdrawal amount in your home country's currency denomination OR the credit/debit receipt that's been rung up for your purchase is showing you the billed amount in your home country currency, that means you're getting DCC'd. Just say NO!

 

[TallGuyJohninBKK]

On 5/23/2023 at 5:39 PM, shortstop2 said:

I also suspect that there is a secret undisclosed limit.  

 

 In the past I used my Fidelity Visa debit card linked to a Fidelity Cash Management Account. 

Whether it be Schwab or Fidelity, if someone was using their account / debit card in a way that was ringing up many reimburseable foreign ATM fee transactions every month, especially from the same recurring country, I strongly suspect either of those U.S. brokerage entities would at some point begin asking the customer if they were really living in the U.S., as expected from both accounts.

 

[TallGuyJohninBKK]

2 hours ago, DrJoy said:

No.

 

Its 150 baht per trx

And a lower per withdrawal limit from the AEON ATMs compared with the max 30K baht per withdrawal available from Krungsri and a few other Thai banking company ATMs.

 

[TallGuyJohninBKK]

On 5/24/2023 at 8:29 AM, Dan O said:

I'm interested, What bank is paying  you 5 % interest on your account checking or savings account? 

I've got a couple non-national U.S. banks (meaning local market ones) that are paying 6% right now on their rewards checking accounts (meaning you need to use their debit cards for purchases 10-15 times per month, which I would do anyway) in order to qualify.

 

I've also got a U.S. credit union (also local market) that's paying me 6% on an 18 month CD right now. You have to know how and where to look, but there are such accounts out there.

 

This is a list of current 2 year US CD offerings at or above 5% for U.S. accountholders... The list of comparable 1 year and 18 month CDs at those rates or better is a lot longer:

 

 

https://www.depositaccounts.com/blog/cd-rates-survey/

 

Edited July 8, 2023 by TallGuyJohninBKK

[scottiejohn]

2 hours ago, NoshowJones said:

Really??

Can't you read the title of the OP or are you just trolling?

[onthedarkside]

A post with a link and no explanation of what it is has been removed. This is a discussion forum not a link farm. If you have a link to share please give an explanation of what it is and contains

[TallGuyJohninBKK]

4 hours ago, NoshowJones said:

Is that a Thai bank? I've never heard of them.

First Direct is a UK division of HSBC:

 

Looks like they just did away with their own foreign-use ATM debit card fees as of June 28 of this year:

 

 

That's a good thing for UK folks, as long as they're not extracting their pound of flesh thru some other means.

 

For example, it seems to be saying they (First Direct) are no longer charging their own foreign use fees when using their debit card abroad. But I don't see them saying they're reimbursing the standard 220 baht foreign card ATM use fee charged by Thai bank ATM operators.

 

https://www.firstdirect.com/travel-and-international/travel-help-and-advice/using-your-cards-outside-the-uk/

 

 

 

Edited July 8, 2023 by TallGuyJohninBKK

[scottiejohn]

25 minutes ago, TallGuyJohninBKK said:

But I don't see them saying they're reimbursing the standard 220 baht foreign card ATM use fee charged by Thai bank ATM operators.

They do state that they are NOT responsible for foreign ATM fees etc!

[Dan O]

4 hours ago, TallGuyJohninBKK said:

I've got a couple non-national U.S. banks (meaning local market ones) that are paying 6% right now on their rewards checking accounts (meaning you need to use their debit cards for purchases 10-15 times per month, which I would do anyway) in order to qualify.

 

I've also got a U.S. credit union (also local market) that's paying me 6% on an 18 month CD right now. You have to know how and where to look, but there are such accounts out there.

 

This is a list of current 2 year US CD offerings at or above 5% for U.S. accountholders... The list of comparable 1 year and 18 month CDs at those rates or better is a lot longer:

 

 

https://www.depositaccounts.com/blog/cd-rates-survey/

 

CD's aren't savings accounts.

[NextG]

14 hours ago, TallGuyJohninBKK said:

And a lower per withdrawal limit from the AEON ATMs compared with the max 30K baht per withdrawal available from Krungsri and a few other Thai banking company ATMs.

 

Not an issue for those who have a daily limit on ATM withdrawals anyway. Not every debit card has a high daily withdrawal limit; so AEON ATM can be value if you can only take out say 15k per day. 
Though of course best if you can avoid being charged in the first place. 
 

[gamb00ler]

19 hours ago, scubascuba3 said:

Probably their account charges are higher than cheaper alternatives 

Schwab was one of the first discount brokers.  Why not investigate rather than postulate?

[scubascuba3]

12 minutes ago, gamb00ler said:

Schwab was one of the first discount brokers.  Why not investigate rather than postulate?

I'm not interested in a US based broker, but you don't get anything for free, you should know that

[gamb00ler]

4 minutes ago, scubascuba3 said:

I'm not interested in a US based broker, but you don't get anything for free, you should know that

and you should know that some businesses offer more service or better goods for the same or nearly same price

 

The real question is why are you discussing Schwab's fees/services when you don't actually need them?

Edited July 9, 2023 by gamb00ler

[scubascuba3]

6 minutes ago, gamb00ler said:

The real question is why are you discussing Schwab's fees/services when you don't actually need them?

because Americans always bang on about it when like i said you get nothing for free

[gamb00ler]

1 hour ago, scubascuba3 said:

because Americans always bang on about it when like i said you get nothing for free

Those lucky yanks are getting your free and appropriately priced advice!

[ketilnm]

On 5/14/2023 at 1:03 AM, TheAppletons said:

As does mine.  That's the way to go, if you must use a foreign ATM card.  

What bank do you have?

[TheAppletons]

2 hours ago, ketilnm said:

What bank do you have?

I have a Charles Schwab account that reimburses all ATM fees as well as a Navy Federal Credit Union account that does the same.

 

The NFCU account is limited to $20/billing cycle; the Schwab account is unlimited.

[Captain Monday]

On 5/14/2023 at 8:33 PM, torturedsole said:

No such card in the UK but I get by with having a BBK account so transfer funds over occasionally from UK and withdraw at LoS ATM. 

Try Coutts Bank. 

[Dante99]

On 5/15/2023 at 4:05 AM, scubascuba3 said:

Yeah I've heard people bang on about it before, like i said they probably charge in other ways

You are banging on about something you know nothing about, just guessing.  I have used their services for years and monitored all charges and found no charges in "other ways".

[Dante99]

On 7/9/2023 at 3:43 PM, scubascuba3 said:

i said you get nothing for free

If you have never gotten something for free you must have lived a very sad life.

[damole]

For the UK, Starling Bank is the best along with the Halifax Clarity credit card which is fee free but for cash advances you need to make the payment the same day to avoid interest charges.