The Bank You NEED When Going Abroad
Do you have upcoming travel plans and want to avoid paying unnecessary fees to access your own money? Our travel team has traveled to over 45 countries and have never paid a single ATM fee or foreign transaction fee. A foreign transaction fee is essentially a charge for you to have access to your funds from abroad. A typical foreign transaction fee is 3% of each purchase transaction in US dollars. This fee might consist of a 1% fee charged by the payment processor (the credit card company), plus another 2% fee charged by the card issuer (the issuing Bank). For most travelers, your budget is important to you. As a student and budget traveler that is very important because those “small charges” add up. But even for families or more established travelers, paying any unnecessary fees is frustrating. Fortunately, we are always on the lookout for great travel tips to share and today we share the best way to avoid ATM fees and foreign transaction fees worldwide. This is NOT a paid sponsored post. We just truly believe in the value of this bank as an option for Free ATMs Worldwide.
Why pay to spend your own money? Yes there are so many banks that extend internationally. Sure, some may have ATM reimbursement if you can find their ATMs. But what happens if you can’t find your bank? Do you really want to pay fees every time you need money? Whether it’s the Franc, Euro, US Dollar, Peso, Yuan, Pound, or Shekel; it doesn’t matter to your new friend Charles Schwab.
Charles Schwab bank promises to pay back every foreign transaction fee at the end of the month from their own accounts. This eliminates the fear from uncertainty that you cannot access your cash abroad. The convenience of this bank also makes you avoid overpaying at currency exchanges. Besides the normal conversion rate from US dollar to whatever currency you choose, there is no additional charge.
This money saving bank also saves you time because virtually everything they do is online. With the Charles Schwab app you can check your account summaries, transaction histories, submit travel notices, and even deposit checks by photo. Above all the best feature is that there is always a possibility to live chat with a representative accessible to you if you are unable to make international phone calls.
This is not an advertisement for Charles Schwab services. This is simple advice from one seasoned traveler to another. We believe in sharing the knowledge and helping fellow travelers. That’s why we are obsessed with traveling and sharing travel tips. For more helpful travel tips, check out our blog series: How to Travel for Free