- Time of past OR future Camino
- Pamplona to Santiago (2013)
Le Puy to Pamplona in segments (2013 - 2016)
Pamplona to León
For 2024 Pilgrims: €50,- donation = 1 year with no ads on the forum + 90% off any 2024 Guide. More here. (Discount code sent to you by Private Message after your donation) |
---|
I wouldn't be surprised! :/ Well, if you get a chance to try Charles Schwab I recommend it. ATM fees are annoying.Thank you, WalksInWinter...
Yes, I was notified by the Spanish banks of the fees. My own bank added $3 US for every withdrawal. And yes, I never recall seeing a service charge as high as 6 euros before. My credit card does not charge me for foreign transaction fees and I use that when I am not using cash on the Camino. The issue is just ATM charges.
I worry a little that banks on the CF might be increasing their charges because of the many foreign hikers are a captive population.
I love using my Schwab card and not worrying what the fees are at any given ATM.I wouldn't be surprised! :/ Well, if you get a chance to try Charles Schwab I recommend it. ATM fees are annoying.
Yes, but minimum balance is minimal or nil. I've had $100 sitting in it for years and if I need to access it I can. No buying/selling needed.I looked at Schwab and I thought their ATM card was linked to a brokerage account. Am I wrong on this?
According to some online reviews, you need to open but not necessarily fund the Brokerage account. Some articles/posts (and several old reviews on the Schwab site) say that they do a "Hard" credit pull on Equifax and Chexsystems.I looked at Schwab and I thought their ATM card was linked to a brokerage account. Am I wrong on this?
I looked at Schwab and I thought their ATM card was linked to a brokerage account. Am I wrong on this?
If you are referring to the Schwab account, it is free.
If you open a Schwab account, there are actually two accounts that are opened. One is a brokerage account. There are no fees, nor do you have to fund it in any way. You can basically ignore it.
The other account is your personal checking account. Again, there are no minimums and no fees. Any balance in that account will pay interest at 0.20% monthly. It is free. It has a separate account number from your brokerage account. And it is free. Oh, and did I mention it is free?
Any fees for any ATM use by any ATM anywhere is automatically refunded. There are no foreign currency conversion fees. There are no foreign transaction fees. And in case I forgot to mention, the account is free.
Once you open and then fund your checking account, Schwab is very quick to send you their debit card. Once received, a quick phone call activates the card, and then you are able to choose your own PIN number. For foreign travel usage, just to be cautious, choosing a four-digit PIN can be done. Apparently the number of digits in a PIN is not as much of an issue for overseas as it once was, but that is your choice.
And the account is free.
Question for you....
I’m setting up a Schwab account for the first time. I opened the account but haven’t transferred any money yet because I’m not sure how I want to do it.
Do you have a link to your other bank so you can transfer money, or did you send a picture of a check from another account (these were two ways a customer service rep. told me about when I called)?
I’m just not sure which I feel more secure about. I feel as though we have to be extra diligent about our security these days.
Thanks!
Lynne
I made a link at Schwab to my checking account at my primary bank. It's a pretty straight forward process. Or if you'd rather, you can create the transfer link at your primary bank for transfers into Schwab.
Does transferring money between accounts this way not incur "wire transfer" fees, from either account?
My plan is to use a check image via the app, once that is approved for me. I have used check images to deposit checks via apps for other banks many times, so I consider that a fairly simple and safe method.
I linked my other bank account to my Schwab account. Don't leave the transfer of funds to the last minute - it takes a few days for the funds to be verified and available in your Schwab account.Question for you....
I’m setting up a Schwab account for the first time. I opened the account but haven’t transferred any money yet because I’m not sure how I want to do it.
Do you have a link to your other bank so you can transfer money, or did you send a picture of a check from another account (these were two ways a customer service rep. told me about when I called)?
I’m just not sure which I feel more secure about. I feel as though we have to be extra diligent about our security these days.
Thanks!
Lynne
Nope, no wire transfer fees from either account.Does transferring money between accounts this way not incur "wire transfer" fees, from either account?
I was told my bank in Canada that they have from 5 euros to 7 euros. For myself, I am able to use Duestch banks when does not charge. so check with your bank. nevertheless, Duestch banks are few.My wife and I just walked from Burgos to León. I followed my usual pattern of ATM withdrawals. First at Madrid airport (admittedly not the best idea because of risk of the machine eating my card, but my wife has hers as backup). My next withdrawal was on the Meseta and I spotted a Santander bank in Fromista, which I knew could be used for a withdrawal. Santander's charge for the withdrawal was 6 euros. I made a final withdrawal a few days later in Mansilla and used Caja Espagnol hoping that bank would be cheaper. I didn't keep any of the withdrawal receipts which would have tracked the Spanish bank charges for these withdrawals, but I think that the charges have increased, significantly in Santander's case, since last year.
Has anyone else noticed this?
Tom
I was in Santiago for a few weeks , used a ATM 3 times all from different banks .There are EU rules for EU customers getting money from an ATM in another EU country (roughly, the foreign bank can't charge you more than your bank at home would charge) but they’ve changed a few times in recent years.
Schwab Bank (and a couple of others) charge no fees for ATM use AND they reimburse any fees charged by the dispensing ATM bank.
It really is a no-brainer for use on the camino. The accounts are easy to set up if you start with a bit of time before you leave. Many of us have used for years with no issues......
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?