Using ALLIANT Credit Union to bank from Argentina

[earlyretirement]

thanks lunar, so CapitalOne isn't an option versus Schwab. not sure what CaribbeanCool is trying to do here

Hmm. I'm not sure about Caribbean Cool's post. I saw a lot of good posts by him/her but then I was puzzled for them lashing out at me for providing helpful advice. I travel 100+ days a year all over the world. The Schwab card has been a Godsend in rebating fees all over the world when I pull cash out.

I always think they will drop me as a client as they are rebating so much back in fees but they never do. For good measure I started working with their Wealth Management department bringing more money in to them now but I didn't before. I have a lot of friends that I recommended that card and they all are getting $$$$ refunded for withdrawing cash abroad. It's a great card!

I don't know how they can make money rebating back so much. Their customer service is amazing. No ex-pat I know has been dropped by them. I have many friends living in Mexico and use it to withdraws pesos from their US checking account. None have ever had any issues.

 

[lunar]

thanks lunar, so CapitalOne isn't an option versus Schwab. not sure what CaribbeanCool is trying to do here

Well, a 3% forex fee is kind of customary for American banks. So, Capital One, with zero foreign exchange fees, is way better than average. But it does not refund the ATM charges.

 

[StatusNomadicus]

I've used credit cards with no foreign transaction fees for over a decade...are you familiar with those cards, lunar? https://www.nerdwallet.com/best/credit-cards/no-foreign-transaction-fee

 

[lunar]

I've used credit cards with no foreign transaction fees for over a decade...are you familiar with those cards, lunar? https://www.nerdwallet.com/best/credit-cards/no-foreign-transaction-fee

I was referring to forex fees incurred when using a debit card in ATMs here, given that withdrawals are in Argentine pesos.

For credit cards without annual fees, it has always primarily been Capital One.

 

[Caribbean Cool]

thanks lunar, so CapitalOne isn't an option versus Schwab. not sure what CaribbeanCool is trying to do here

For 360 products (360 Checking, Money, etc.) there are no additional fees when you use your debit card abroad (any transaction made in a foreign currency or that MasterCard® classifies as a cross-border transaction).

The Schwab acct is a Brokerage account.......nobody has ever had a problem with Capone and plenty of people have had accounts closed at Schwab. Schwab rebates and Capone doesn't charge in the first place.

For those having trouble understanding this, we can start with....2+2=4 and go from there.

 

[lunar]

Schwab rebates and Capone doesn't charge in the first place.

You still don't get it. Schwab does not charge any fees it in the first place, either. It rebates fees from the ATM owner (not its own fees).

 

[carride]

And the Schwab account is a brokerage account last I knew and who wants that?

Who would not want that? Having a brokerage account and checking and credit card and debit ATM card in one bank/broker is an advantage. The rebates that the foreign banks take at the ATM, plus no foreign ATM fees from Schwab in the first place is the reason. USAA did the ATM rebates in the past but now only for military members.

 

[Caribbean Cool]

A brokerage account opens you up to a lot of discloser that most people living abroad don't want. Period.

 

[carride]

A brokerage account opens you up to a lot of discloser that most people living abroad don't want. Period.

I can't imagine anyone who lived a previous life in USA, or anywhere, with even the basic investments, deciding to remove 100% from those brokerage accounts.

 

[Caribbean Cool]

My last comment to Carride...is what are you talking about?