Hi there, it's Ernest from Trip Astute. In
this video, we're reviewing the Charles Schwab debit card, and why we think is
the best debit card for travelers. (Light chiming music) Getting cash abroad can be expensive, especially if you use the currency exchange booth at the airport. A better
way to get cash when you travel internationally is to use the ATM once
However, even though the exchange rate is generally better than a
currency booth, you're still likely to get charged an ATM fee. So, how do you get
around this? You get a debit card that reimburses you for your ATM fees when
traveling. One such card is the Charles Schwab
debit card, which is connected to their High-Yield
Investor Checking account. Basically, you can use a debit card at any ATM, both
domestic and internationally, to get cash.
You'll still get charged the fees on
your account, but Charles Schwab will reimburse the fees at the end of the month. The
Charles Schwab account isn't the only bank that reimburses fees. There are
other ones out there. Two other major banks that reimburse debit card foreign
transaction fees and ATM fees include Capital One and Discover.
The Capital One
360 account doesn't charge a fee, but you have to use an ATM within their approved
network. Discover Bank also reimburses fees, but the acceptance is a bit limited
outside of North America compared to other banks. In addition to getting your
fees reimbursed, here are some additional reasons why I prefer using my Charles
Schwab debit card when traveling. Number one: Provides an additional layer from
your main checking account.
I love the fact that I can load my Charles Schwab
account prior to my trip and use it as my debit card. In the event that it were
stolen or compromised, I wouldn't have to worry about having my primary bank
account exposed or drained. I still carry my primary bank debit card with me, but
it tends to stay in the hotel safe. Number two: Encourages smaller cash
I generally prefer to use credit cards whenever possible, so I
don't like to carry a large amount of cash. Since I don't have to worry about
fees, I'm less inclined to withdraw a large sum of cash when using my card.
Using my Charles Schwab debit card allows me to withdraw money as needed.
Number three: Saves time. Rather than trying to find an ATM with a specific
network or bank, I can use any ATM which lets me focus more time and energy
toward my vacation. Number four: Great customer service.
I've personally been
very happy with the level of customer service at Charles Schwab. Since we're in
the Los Angeles area, they do have a few branch locations, which is really
convenient. However, I've also found their online and phone support to be top-notch.
In fact, I've also started investing with them since I found their fees to be
quite competitive. We've included a list of the major banks and their ATM fees
Also, if you're interested in opening a Charles Schwab High Yield
Investor Checking account, we've included a referral link below. You'll get $100 if
you use our referral link, and it doesn't require a minimum balance or deposit. Do
you have any experience using the Charles Schwab debit card or any other
card while traveling abroad? If so, please share in the comment section
below. If you enjoyed this video or found it useful, please hit the "like" button and
Also, if you haven't done so already, sign-up for our weekly
newsletter on our website for travel articles, updates, and contests. Until next
time, travel safe and travel smart..