The Powerful Fee Free Charles Schwab Debit Card:
The Charles Schwab Bank Investor Debit card (DC) that comes with opening their checking account is an invaluable tool. It allows the user to withdraw cash from any ATM, regardless of the brand without paying any fee!
This also applies to ATM in other counties around the world. I frequently like to keep a small amount of local currency as a back up and for tips. This is by far the easiest and most cost effective option I have found to do this.
Using the Debit Card:
When trying to use an international ATM it is important to first look for a language option on the home screen that makes the process much easier. The the process is as simple as entering your PIN and selecting the account to withdraw. The local currency will be converted to USD based on the currency conversion rate and taken out of your checking account.
Getting the Debit Card:
It is important to note that a Charles Schwab brokerage account must first be opened before it is possible to open their checking account to get the DC. This is easy to do an does not require depositing a minimum about of money or making any security purchases.
Also before opening any new account be sure to check for bonus offers. At the time of writing I am only seeing very high cash deposit bonuses. However it is important to check as offers are always changing.
