I have had my Charles Schwab Investor Checking™ Account since 2019 and I love it!
I previously had an old Washington Mutual checking account that got grandfathers in to Chase when they acquired them back in 2009 after the subprime mortgage crisis of 2008. I loved that Washington Mutual account because it had no foreign transaction fees and I kept that benefit after the Chase acquisition.
In 2017 when I started traveling frequently I changed some accounts at Chase and was told that I had to change my checking account to a new account. The branch representative basically lied to me when she told me that the account I was getting would have the same features. Between 2017 – 2019 I paid Chase $66.93 in foreign ATM fees in addition to exchange rate adjustments for each of my withdrawals which means I got a TERRIBLE exchange rate.
Since changing to the Charles Schwab Investor Checking™ Account my ATM withdrawals are in line with the current listed exchange rates, I have not been charged any foreign ATM fees by Charles Schwab and I have been reimbursed for any fees the international ATM charged me at the time of withdrawal.
I don’t have anything to gain with this post. There is no referral fee or incentive for sharing this account with you. However I highly recommend having this account if you travel frequently. I still take a little cash USD with me, but having this account significantly decreased the amount of cash that I carry on me internationally.
It’s also a bonus that this account has no minimum balance required. However if you choose to keep a balance in this account is has a small percentage yield associated with it for you to generate some interest. The app works seamlessly and I love that it offers the option to keep my ATM card locked. That gives me comfort in knowing even if my ATM card gets away from me it still can’t be used as long as I have remembered to lock it after my withdrawal.