Charles Schwab Debit Card question/issue

[csabo]

For those of you who use the Schwab debit card, you will understand why I opened an account last year. I was issued a debit card with a micro chip. Having never used the card before I tried a test run last week and the transaction was "cancelled by my bank" (or something like that). I used a Bangkok Bank ATM figuring they have the chip reading technology. I don't need the cash just keep some there in an emergency fund. I tried to access my account online then and it appears it is all frozen. I don't feel like calling them and getting accused of stealing my own money so I will sort it out when I go back home. Did I do something wrong? What ATM's do you guys use with the Schwab card? Ever been denied or frozen?

[Pib]

I have a Schwab debit card...the chipped version. Your problem may just be an ATM and card compatibility issue...go try another bank's ATM such as Krungsri or TMB bank since they provide up to Bt30K withdrawal limit per transaction....or go try any other Thai bank ATM such as KrungThai Bank, etc.

Just because your card is now chipped does not mean it will not work in other ATMs other than Bankgok Bank ATMs...yes, the Bangkok Bank "chipped" debit card (Be1st Debit card) will only work in Bangkok Bank ATMs within Thailand, but that does not mean other Thai bank ATMs can not issue money using your Schwab chipped debit card because your Schwab chipped debit card still also has the magnetic strip in addition to the chip. Now I too have have experienced some Schwab "chipped" cards issues in some Thai ATMs, especially some TMB ATMs, that I never experienced with the old magnetic strip card. But for the last few months I have just been using my Schwab card to do counter-withdrawals (a.k.a., routinely referrred to as cash advances in Thai banks) just to avoid Schwab having to reimburse the Bt200 ATM fee.

Or, it may be Schwab blocked use of your card not expecting its use outside the U.S. That happened to me once about two years ago after using it for several years in Thailand...I called them...they unblocked it....been fine since from that problem.

Go give it a try in say a Krungsri ATM to see if it works. If not, just call Schwab and tell them your are currently in Thailand...they'll unblock the card immediately.

[Pinot]

Certainly this will be handled by Schwab. They see every transaction and why it may have failed.

Highly recommend Schwab for expats. It's been a faultless experience for me with free ATMs to boot.

Speaking of which the sent me an email that a new replacement card was coming and it hasn't shown up yet. I'll be ahead of you in the cue Monday morning.

[Thailand J]

The issue may be with the amount of money you tried to withdraw. try it again , this time with a smaller amount of money.

NOt just the ATM owner banks have limits, my CS debit card has a 500USD per withdrawal and 1000USD daily limit. Somehow I can only get 10,000B at Krungsri Bank on Soi Khaotalo in Pattaya

[alocacoc]

I guess you guys are US citizens or US residential. Otherwise you can't obtain a debit card. Right?

[Pib]

The issue may be with the amount of money you tried to withdraw. try it again , this time with a smaller amount of money.

NOt just the ATM owner banks have limits, my CS debit card has a 500USD per withdrawal and 1000USD daily limit. Somehow I can only get 10,000B at Krungsri Bank on Soi Khaotalo in Pattaya

For the U.S. Schwab debit card the standard per daily and per transaction limit is $1000. I've done many Bt30K withdrawals from ATMs and a couple of Bt35K counter withdrawals using the card. Plus I asked Schwab what the limits were.

Sometimes ATMs may have lower limits than normal due to heavy use/being low on cash.

[Thailand J]

The issue may be with the amount of money you tried to withdraw. try it again , this time with a smaller amount of money.

NOt just the ATM owner banks have limits, my CS debit card has a 500USD per withdrawal and 1000USD daily limit. Somehow I can only get 10,000B at Krungsri Bank on Soi Khaotalo in Pattaya

For the U.S. Schwab debit card the standard per daily and per transaction limit is $1000. I've done many Bt30K withdrawals from ATMs and a couple of Bt35K counter withdrawals using the card. Plus I asked Schwab what the limits were.

Sometimes ATMs may have lower limits than normal due to heavy use/being low on cash.

I have just called on Feb 21, 2016, my CS debit card does have a 500USD per withdrawal limit, may be it was because i have just lost and replaced my card 6 months ago. May be this is something new. I dont know. Daily limit is still 1000USD at the ATMs, if I can find a bank that would allow over the counter cash out, then the limit is my account balance.

I had to make 3 consecutive withdrawals at Krungsri when i needed 30000B cash in a hurry last week. CS reimbursed the charges without questioning.

[Thailand J]

I guess you guys are US citizens or US residential. Otherwise you can't obtain a debit card. Right?

I dont think you have to be a US citizen or residence to open an international brokerage account with CS. The account comes with a checking account that gives you checks and a debit card.

[alocacoc]

I guess you guys are US citizens or US residential. Otherwise you can't obtain a debit card. Right?

I dont think you have to be a US citizen or residence to open an international brokerage account with CS. The account comes with a checking account that gives you checks and a debit card.

I'm with TDA. But their debit card is only for us residents / citizens.

[Pib]

The issue may be with the amount of money you tried to withdraw. try it again , this time with a smaller amount of money.

NOt just the ATM owner banks have limits, my CS debit card has a 500USD per withdrawal and 1000USD daily limit. Somehow I can only get 10,000B at Krungsri Bank on Soi Khaotalo in Pattaya

For the U.S. Schwab debit card the standard per daily and per transaction limit is $1000. I've done many Bt30K withdrawals from ATMs and a couple of Bt35K counter withdrawals using the card. Plus I asked Schwab what the limits were.

Sometimes ATMs may have lower limits than normal due to heavy use/being low on cash.

I have just called on Feb 21, 2016, my CS debit card does have a 500USD per withdrawal limit, may be it was because i have just lost and replaced my card 6 months ago. May be this is something new. I dont know. Daily limit is still 1000USD at the ATMs, if I can find a bank that would allow over the counter cash out, then the limit is my account balance.

I had to make 3 consecutive withdrawals at Krungsri when i needed 30000B cash in a hurry last week. CS reimbursed the charges without questioning.

There may be two different cards...a regular and a platinum which have different limits...something in the back of my mind is now telling me that...I have the platinum card. I may look it up tonight once getting back home on the computer vs using my tiny phone right now. Cheers.

[Pinot]

It depends on what type of a client you are at CS. When I changed to being an International customer the amount I could pull at one time went down to $500. I pull 15000 baht. I don't think any limit apples if you go into the bank with your card and passport, just at an ATM.

I'm pretty sure you don't have to be a US citizen to have an International account. Some differences in the types of accounts. I can't buy mutual funds for instance as an International customer.

[watcharacters]

I was told depending on the customer, time and relationship and with upper management approval it could be as high as $4K a day, And that's per each individual debit card attached to an account. Schwab allows a lot of freedom and support.

First class..

Your mileage may vary.

Edited February 28, 2016 by watcharacters

[Pib]

As mentioned earlier it depends on whether you have a Schwab Debit Card or a Schwab Platinum Visa card (I have the later)...and I'm only talking cards issued by Schwab Bank (US) and not cards issued under Schwab International which has different limits.

Just looked at the Schwab Visa Card Agreement which came with my card (got my latest card around 6 months ago) and on page 7 it shows the limits., Notice how its different between the regular debit card and the Platinum debit card. I've never been able to find this agreement online; only comes in the mail with the actual card.

And it matches up with what Schwab personally told me before and in my frequent use in using the card to withdraw up to $1000 per day or per transaction, whether it's from an ATM or counter withdrawal. A counter withdrawal is considered a cash withdrawal with the $1000 limit for the platinum card...it's not considered a POS transaction like done with purchases although the transaction is processed like a POS...different coding flows along identifying it as a cash withdrawal via POS vs a purchase via POS.

And as the note says higher limits can be applied for.

Summary: different cards, different accounts, possibly higher limits applied for, etc., results in various possible daily or per transaction limits.

[csabo]

So I called Schwab what a stupid bunch they are. The rep told me my account was frozen because I attempted to open I overseas. I said that is partially true. In January 2015 I tried to open the account online from Thailand. The IP flagged, I was required to call them which I did and they told meI Could not open the account abroad and to come in and show ID when I was in the US. In March 2015 I was in the US and called them telling them the whole story and offered to come in and show my ID's. The rep said it was not necessary, the flag was lifted and to open the account online from NY. I specifically said if you want to see my ID's now is your chance. He said no. I opened and funded the account with a linked checking account and forgot about it until a few month ago when I tried the debit card and online access and both were frozen. I told the rep tonight that the IP flag was from prior to me successfully opening the account in NY obviously how else could I have funded the account. I told her I wanted my money transferred back to my checking account and I wanted the Schwab account closed as they obviously have no idea what they are doing. She said she would email me a form that I would have to fax back at which time I could wire the funds out of my account. I said how much does a wire cost and she said $25. I was stunned by the ineptness and balls of this company to now try to charge me to get my own money from my account that they allowed to be opened and now through fault of their own ridiculous systems claims was somehow invalid. As I ripped into her she quickly changed her tune and offered a waiver of the $25 wire fee. WOW, what a bunch of clowns. Stay away from Schwab. Inhuman morons.

[Langsuan Man]

Did you at any point tell Schwab that you would be using the card overseas ?

Every year when I come to Thailand I call my primary credit card company (Capital One) and my banks or brokerage accounts that have issued me an ATM card informing them of my expected travel dates

Knock on wood, there has never been a problem

[Pib]

Yea, not uncommon for banks to block debit/credit card usage outside the person's home country/area unless you tell them advance of you travels.

Schwab did that once on my debit card about a year ago...I called then to say yes that's me attempting to withdraw cash from a Thai ATM here in Bangkok. They said OK, they annotated I was now in Thailand for an indeterminate time, unblocked the card and it's been fine since. The rep also mentioned during the call to notify them in advance of foriegn travel to avoid problems like this.

If the OP was asking his funds be transferred to a Thai bank I can understand the $25 wire charge. However, if having a Bangkok Bank account a free/low cost ACH transfer could have been used. But even a domestic transfer can incur a domestic wire transfer fee if wanting the transfer done immediately and verbally requested...depends on the situation.

I've been using my Schwab debit card for ATM and counter withdrawals in Thailand for about 5 years now...other than that one brief block of the card as described I haven't had any issues with Schwab. Knock on wood (my head).

[gk10002000]

Did you at any point tell Schwab that you would be using the card overseas ?

Every year when I come to Thailand I call my primary credit card company (Capital One) and my banks or brokerage accounts that have issued me an ATM card informing them of my expected travel dates

Knock on wood, there has never been a problem

I did that a few years ago with my Etrade things. Fine, no problems, However when I got back to the USA from my trip, my cards wouldn't work at home in the USA! It took several days to get that cleared up!

[taxout]

There's now a form on the Schwab website to notify them of overseas debit card use. Unfortunately, the notification only lasts for 14 days; for longer periods you need to call them directly.

[garyk]

This last year I have traveled from Malaysia, Cambodia, Thailand and Mexico {10+ months}. Then back to the states. I have never told Schwab I was going to be out of the country and I have never had one problem with and ATM withdrawal?

Interesting, I did have a problem setting up my account overseas on the internet. I finally had to go to a Schwab office in the states and set up the account. It was a hassle. But, the best thing I have EVER done, bar none.

Edited April 22, 2016 by garyk

[taxout]

I believe that notification form is new; at least I don't recall seeing it before. Perhaps it suggests they're adopting a tighter security approach to overseas withdrawals, I don't know.

[gt162]

Schwab card has been good for me. I got my card in CA it work find in US as well in Thailand. 30,000 baht was the limit in Thailand per transaction and I got my 180 baht fee reimbursed.

[grin]

One of my Schwab debit cards was recently upgraded with the chipped version. On Saturday I tried an ATM from every bank I could find at Central Airport Plaza in Chiang Mai and the chipped card was refused in every one of them for an invalid pin.

After the first two failures I noticed that Google Voice had recorded a call from the Schwab Visa fraud department. I called them back and explained the situation and they cleared my card. They said that no reason was given for the declined transactions. Then they connected me with a different department where I verified that my pin had not cleared or changed from the previous non-chipped card.

I tried Bangkok Bank, Aeon, Krungthai, SCB, Krungsri, Kasikorn, Thanachart, and I think the last one was UOB.

So I guess none of these ATMs at Central Airport Plaza have been upgraded to read the chips or their software or whatever has not been upgraded.

Has anyone been able to use a chipped Schwab debit card in any ATM anywhere in Thailand?

Grin

[Pib]

Yes, as mentioned several times in this thread, I've been using my Schwab chipped card in Thai ATMs since late last year here in Bangkok...in fact I used it just yesterday to get Bt30K from a Krungsri ATM. I have also used it for a purchase within Foodland just to confirm it works for Point of Purchase and counter withdrawals within a Krungsri branch. I have also used it in KrungThai Bank and TMB ATMs.

Now I did have intermittent issues with the Schwab chipped card at two particular Krungsri and TMBs ATM which were very close to each other in the same mall late last year....haven't retested the Schwab chipped card at those ATMs yet....the Krungsri ATM I used yesterday was in another mall.

Edited May 2, 2016 by Pib

[grin]

Thanks Pib, I thought I had read the whole thread but obviously not. I did try TMB as well and at least one more bank I can't remember. Also I did try 3 different Krungsri ATMs as there a two near my home. I will keep trying the banks you found to work in Bangkok. Maybe the ATMs would have a better chance of working at main branches instead of malls or 7/11s. Or maybe newer bank branch locations like Promenada here in Chiang Mai.

So I guess my question should have been: Has anyone been able to use a chipped Schwab debit card in any ATM anywhere in Chiang Mai?

Grin

[Pib]

Recommend you try some ATMs at another location other than the Central Airport Plaza. It could simply be a communications glitch (slow connection to the U.S.) that is causing the problem.

Also, just to confirm was it actually Schwab that called you or Visa? Either could call. I had Visa call me once around 2 years ago regarding a failed Schwab card ATM transaction although my second attempt at withdrawing the funds worked. I got back home and had the call from Visa with the short message talking my Scwhab card. I called Visa back...they said their system had triggered a possible fraud alert...I said it was indeed me using the ATM here in Thailand and how the first withdrawal attempt failed but when trying again it worked. That made them happy, they cleared their alert but also told me I should call Schwab to tell them I'm in Thailand using the card. I said sure, but I didn't. About two weeks later when using the card in the ATM it would not work no matter how many tries...it would get right up to the last point of where you press the button that spits out money and then I would get an error saying to contact my card issuing bank.

I called Schwab (not Visa) and they said my card had been blocked for the Thailand transactions. Told them I was indeed in Thailand and lived here many months of the year (actually 12 months a year), they cleared the block...been fine ever since (knock on wood...my head).

Once again, just want to confirm you talked to Schwab versus Visa....a block could be at the card-network level (Visa in this case) or at the card-issuing bank level (Schwab in this case). I think the card-issuing bank can clear a block in their system and the card network, but the card network can not clear a block at the card-issuing bank level except maybe on a short term basis.

[grin]

Yes, it was Visa that called about the fraud. I called them back and they cleared the card. However, they were able to connect me directly with Schwab where they verified that my PIN was unchanged. Also I do make Schwab aware of when and where I am traveling. I've tried most of the ATMs close to home including the ones at the Tesco and Big C on Hang Dong Road in addition to several 7/11s. I have yet to make a special trip somewhere to try the card. I will just keep trying it whenever I end up somewhere that has an ATM that I haven't tried yet.

It's not a big deal as my other Schwab debit card is still chip free. Plus I can easily get money over the counter at most banks using any of my credit cards. One time I tried this at the Thanachart branch in Central Plaza on a Saturday and they told me that they could only do it Monday through Friday. I have always wondered what the reason was for that. Maybe it was simply that the only people authorized to do it did not work on weekends.

Grin