Charles Schwabb Account

[Joe Kano 327]

Planning on setting one up soon basically for the free ATM charges in the Philippines.

 

I see you must open a brokerage account, and they run a hard hit on your credit history, and I noticed none of the branches take cash deposits, must all be checks or transfers.

 

Any good or bad about them? I only see mostly positives for setting up an account with them.

[Crazy Cat 41,836]

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Edited March 9, 2021 by Lucky Cat

[flicks1998 1,044]

Ive used them for years.  For me, its been the best account I have had.  Deposits can take up to about 5 business days to clear in your account, which is OK, but a little longer than some of the "others".  However, their customer service has been great whenever I have called and yes, all ATM fees come back near the end of the month.  If you open a checking account, you can leave the Brokerage account at 0 if you want.

[Talako 781]

I maintain multiple retirement and personal accounts with Schwab.  I don't really use the checking account for anything other than for the ATM fee reimbursement when traveling internationally, and for that, it works great. 

 

I've had no issues with their customer service.

 

[Joe Kano 327]

Do you know the maximum withdraw per day in Philippines in USD via ATM?

 

I thought it was like $1000 USD

[Trompie 9]

On 3/9/2021 at 4:13 AM, Joe Kano said:

Planning on setting one up soon basically for the free ATM charges in the Philippines.

 

I see you must open a brokerage account, and they run a hard hit on your credit history, and I noticed none of the branches take cash deposits, must all be checks or transfers.

 

Any good or bad about them? I only see mostly positives for setting up an account with them.

Look into a local credit union in the US. Mine allows free international ATM withdrawals (limited to 6 per month).

 

 

[Joe Kano 327]

17 hours ago, Trompie said:

Look into a local credit union in the US. Mine allows free international ATM withdrawals (limited to 6 per month).

 

 

Wouldn't work for me. I spend lots of money when I am in the Philippines.  I will hit the ATM 6 times in a week there if I am in a spending or party mood.

[Kby175 115]

I have used Schwab for years in the Philippines, got tired of the double charges as well as a 'foreign currency fee' that my bank would charge me. Typically I would take out 10,000 pesos the Philippine ATM would charge me a fee, my bank would charge me a fee since it was not one of my banks ATM machines and then my bank would charge me a 'foreign currency fee.'  If I remember correctly before switching to Schwab it would cost me 20 to 25 dollars to take out 200 dollars via the ATM.  Schwab refunds the ATM fees and does not have a bogus foreign currency fee that some banks scam you with.  

[Joe Kano 327]

9 hours ago, Kby175 said:

I have used Schwab for years in the Philippines, got tired of the double charges as well as a 'foreign currency fee' that my bank would charge me. Typically I would take out 10,000 pesos the Philippine ATM would charge me a fee, my bank would charge me a fee since it was not one of my banks ATM machines and then my bank would charge me a 'foreign currency fee.'  If I remember correctly before switching to Schwab it would cost me 20 to 25 dollars to take out 200 dollars via the ATM.  Schwab refunds the ATM fees and does not have a bogus foreign currency fee that some banks scam you with.  

Nice Review..........