Charles Schwab limits ATM rebates

[citygirl]

Just an FYI as I was looking at the Charles Schwab account options on line today.

From their website "** We do not charge any fees for use of any ATM. If you use a machine that is not a Schwab Bank ATM, you may be charged a fee by the ATM operator or any network used. This may include a fee for a balance inquiry even if you do not complete a withdrawal or other monetary transaction. We offer a rebate on these fees assessed by others: For Interest Checking, Regular Checking, and Basic Checking up to first 6 transactions not to exceed $9.00 per statement period. Schwab Bank reserves the right to discontinue or modify the ATM Fee Rebate program at any time. Please see your Schwab Bank Deposit Account Pricing Guide for details."

 

[eva_rgentina]

I think it depends on what kind of account you have.

 

[El Duderino]

Damn. I was thinking about opening a checking account with them soon. Probably not worth it now.

Right now BoA is charging me over $7 to take out 950 pesos at the ATM. It's horrible.

 

[Johnny]

Damn. I was thinking about opening a checking account with them soon. Probably not worth it now.

Right now BoA is charging me over $7 to take out 950 pesos at the ATM. It's horrible.

http://www.nytimes.com/2011/10/01/y...some-customers-looking-to-switch.html?_r=1&hp

 

[El Duderino]

I saw that, doesn't look like it will apply to me though.

 

[ghost]

The fine folks who packaged up triple A mortgage derivatives and were bailed out by the tax payer are still in deep shit for their greed and stupidity. So just operate with the mentality that Argentines know to be true..............No bank can be trusted, No bank is your friend, banks are stupid and any bank [given the chance] will screw you. Oh yes and one last thought, none of them can meet the same standard of liquidity that they require from you if you seek a loan. Beware. End of rant.

 

[citygirl]

I think it depends on what kind of account you have.

Those are the only 3 checking accounts they offer according to their website and all have a 6 transaction/$9 USD cap.

Now if you open a savings account, you have better options for refunds but well, it's a savings account, not checking account. Per their website:

High Yield Savings: Unlimited ATM fee rebates when using the Schwab Bank Check Card at any domestic and international locations on the Plus or Visa ATM networks.

Money Market: We do not charge any fees for use of any ATM. If you use a machine that is not a Schwab Bank ATM, you may be charged a fee by the ATM operator or any network used. This may include a fee for a balance inquiry even if you do not complete a withdrawal or other monetary transaction. We offer a rebate on these fees assessed by others: For Money Market Accounts up to first 6 transactions not to exceed $9.00 per statement period. Schwab Bank reserves the right to discontinue or modify the ATM Fee Rebate program at any time. Please see your Schwab Bank Deposit Account Pricing Guide for details.

 

[El Duderino]

I know it's beating a dead horse, but how do some of you access your money here?

 

[Johnny]

I know it's beating a dead horse, but how do some of you access your money here?

I bank with USAA in the states. I use their debit card to access cash through Citi ATM's. Not the Banelco machines, but the Citi machines. USAA reimburses the service charge on I think up to 10 withdrawals per month (though I haven't checked that in a while as I don't withdraw more than five or six times a month). I draw $3,000p a pop, but one must check one's personal daily limit.

USAA charges a 1% fee on all foreign purchases. I rarely use their credit card here so it's not much of an issue for me. Some years ago it was 0% but no longer. In addition they have excellent customer service.

If you are not ex-military you can use USAA's banking services, but aren't eligible for their other services.

Hope this helps.

 

[starlucia]

I have High Yield Investor Checking, and found this on their website today:

"What do I get with this Investor Checking account?
Unlimited rebates from any ATM worldwide1

1. Unlimited ATM fee rebates apply to cash withdrawals using the Schwab Bank Visa Platinum check card wherever it is accepted. ATM fee rebates do not apply to any fees other than fees assessed for using an ATM to withdraw cash from your Schwab Bank account. Schwab Bank makes its best effort to identify those ATM fees eligible for rebate, based on information it receives from Visa and ATM operators. In the event that you have not received a rebate for a fee that you believe is eligible, please call a Schwab Bank Client Service Specialist for assistance at 888-403-9000. Schwab Bank reserves the right to modify or discontinue the ATM fee rebate at any time."

When I receive my next statement, I'll see if they are still refunding all ATM fees (as they've always done.)