Are you tired of paying high ATM fees when you travel? Looking for a cheap way to exchange currency? Here’s the secret…get a Charles Schwab checking account.
It’s one of the easiest, cheapest, and safest ways to get money while traveling.
Brad wanted to know an inexpensive way to get foreign currency so he sent me this email:
Your blog rocks! We’re going to Europe and don’t want to spend a lot of money exchanging currency and getting hit with ATM fees. Do you know any foreign currency hacks?
Well, yes, Brad, I do.
You can exchange currency for free and avoid ATM fees with a Charles Schwab checking account.
Keep reading to learn more and find out how you can get $100.
Free money? Yes, please!!
- Charles Schwab Checking account: How to Avoid High ATM Fees
- Charles Schwab Visa Platinum Debit Card
- Get Money From an ATM
- Schwab Mobile Deposit
- How to Get $100
- How to Open a Charles Schwab Checking Account
Charles Schwab Checking account: How to Avoid High ATM Fees
But don’t let the word broker scare you.
You don’t have to have a trust fund, be a celebrity, or have won the lottery to bank with Charles Schwab.
Anyone can open a Schwab One brokerage account.
There is no minimum balance required. And there are no fees.
You pay $0 fees. Zip, zero, zilch.
The Charles Schwab High Yield Investor Checking Account is one of the best no-fee checking accounts.
Charles Schwab Visa Platinum Debit Card
After opening a Schwab checking account you get a Charles Schwab Visa Platinum Debit Card. You can use the Schwab Bank Visa debit card anywhere that accepts Visa. Use your card at your local grocery store or at a hot dog stand in Vienna.
With a Charles Schwab checking account you don’t need to buy currency before your trip.
You can use your Schwab debit card to withdraw money from an ATM when you arrive.
Get Money From an ATM
ATM withdrawal is one of the easiest and cheapest ways to get foreign currency.
1. Reduces Counterfeit Currency Risk
There’s less risk of counterfeit currency because you’re getting money from the ATM than using a currency exchange surface.
Pro-tip: Use a bank ATM to reduce the risk of ATM skimming.
2. No Currency Transaction Fees
There are no currency transaction fees. So you don’t have to worry about getting the best exchange rate.
3. Save Time
Getting foreign currency from the ATM can save a lot of time. There are more people waiting to get currency from the brokers than people waiting to use the ATM.
4. Carry Less Cash
With a Schwab Bank Visa debit card, you don’t have to carry a lot of cash. You can make unlimited ATM withdraws and not worry about high ATM fees.
Because when you have a Charles Schwab checking account they reimburse your fees. You’re only limited by how much money you have in your account. 🙂
I love my Schwab debit card. It’s one of several cards in my wallet on every trip:
- Charles Schwab Visa Platinum Debit Card
- Chase Sapphire Reserve: 3x points on travel
- Amex Business Platinum: if flying through an airport with a Centurion Lounge – Read more
- World of Hyatt card: if staying at Hyatt
- Chase Ink Cash: if visiting an office supply store
- Chase Freedom: depending on the quarterly bonus category
Pro-tip: Only use your debit card to get cash. You don’t want to lose out on any points you could earn by using a travel rewards cards.
Schwab Mobile Deposit
You can make mobile deposits into your Charles Schwab High Yield Investor Checking account.
Download the Schwab Mobile App and apply for the Schwab Mobile Deposit service.
Mobile deposits can take 1 business day to clear. Clear same business day when you deposit before 4 pm within the US.
Pro-tip: You can mobile deposit money orders.
How to Get $100
You can get $100 if you don’t currently have an existing Schwab account.
Leave me a comment below and I’ll email you a referral code
When you add the referral code to your checking account application, you’ll get $100. And I get $0.
Yeah, kinda bites. But hey, at least you’ll get $100. 🙂
How to Open a Charles Schwab Checking Account
1. Open a Schwab Checking Account
Visit CharlesSchwab.com and click “Open a Checking Account.”
Choose from an “Individual” or “Joint” account. Click “Continue.”
2. Open a Schwab One Brokerage Account
Click the “Add an offer/referral code (optional) link.
Add the referral code I emailed to you.
Pro-tip: Remember to leave a comment below so I can send you a referral code and you’ll get $100.
Click on “No, I’m new to Schwab.”
3. Provide Your Personal Information
Enter your personal information then click “Next.”
Pro-tip: Charles Schwab will do a credit check and it’s a hard pull on your account.
4. Verify the test deposits
Schwab will transfer a small amount to the bank account you listed on your application. You have to log into your Schwab account to verify the test deposits.
5. Request your Charles Schwab Visa Platinum Debit Card
It’s been a long time since I opened my account. I was able to request my debit card without depositing money into my Charles Schwab checking account. But things might have changed.
With a Charles Schwab checking account you can get foreign currency for free and avoid ATM fees. The Charles Schwab Visa Platinum Debit Card is one of my favorite travel tricks.
Using the Schwab Bank debit card saves you time, reduces the amount of cash you have to carry, and saves money because you get reimbursed ATM fees.
It’s a win-win and a must for every traveler.
Don’t have a Charles Schwab High Yield Investor Checking Account? Leave a comment below and I’ll send you a referral code. You’ll get $100 when you open an account.
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