After all, things like airfare are already paid, so we're only talking about things you buy on the ground after you land. In the unlikely event that you lose your primary card, you might have to pay to $10 (or even $20, the horror!) in foreign transaction fees. Think about the risk you're trying to avoid. To recap, Fidelity does NOT charge a 1% FTF for ATM withdrawals.Īre there any alternatives to Schwab that offers a debit card which reimburses all atm fees charged by the third party bank and has no foreign transaction fee?įWIW, I think this is a pretty pointless optimisation to make. Schwab delays reimbursement until the end of the month.
One tiny benefit of Fidelity over Schwab is Fidelity reimburses any ATM terminal fee as soon as the transaction posts. Wait until both withdrawals posts to your account and notice that both transactions will have the same dollars and cents deducted from your account. Withdrawal an equal amount of foreign currency from each.
#ATM FOREIGN TRANSACTION FEE FREE#
Still don't believe me? Go to a foreign ATM with your Fidelity card and your Schwab or whatever FTF free card you have. But, again, Fidelity does NOT charge a 1% FTF for ATM withdrawals. I repeat, Fidelity does NOT charge a 1% FTF for ATM withdrawals.įidelity does charge a 1% when you make a foreign transaction purchase with the debit card. Pre-pandemic, every few months we would see posts from peope who don't have the Fidelity debit card claiming that Fidelity charges a 1% ATM foreign transaction fee for ATM withdrawals.įidelity does NOT charge a 1% FTF for ATM withdrawals using a Cash Management Account debit card. I guess it's a sign that pandemic is easing and/or people are itching to travel. Are there any alternatives to Schwab that offers a debit card which reimburses all atm fees charged by the third party bank and has no foreign transaction fee?Ĭapital One checking does not have foreign transaction fees, but does not reimburse ATM fees.įirst Republic reimburses all Int'l fees (monthly). Since it is always good to have a backup, because otherwise Schwab DC would be the only option I have while travelling overseas. But deposits take 5 days to clear into the Radius account, so I closed it out. I also had a Radius Bank account which also has no foreign fee and reimburses all ATM fees charged.
And seems to say they do charge a 1% feeĪfter searching around for a bit I have found that Schwab is basically the only provider that offers a no foreign transaction fee, reimburse all ATM fee debit card. Seems only high level clients get reimbursements. Please contact your mobile carrier to see if any message and data rates, or other charges may apply." This charge may apply whether or not there is a currency conversion.įidelity charges no fees for debit card fraud text alerts. Please review your Fidelity Debit Card Agreement (PDF) for information on reimbursement caps or limits.įor each foreign transaction, there is a foreign transaction fee (currently, 1% of the transaction for non-US dollar transactions), which may be included in the amount charged to your account. Other institutions may assess fees for use of ATMs in their network.įidelity Cash Management Account customers or Fidelity accounts coded Premium, Private Client Group, or Wealth Management, or held by customers with householded annual trading activity of 120 or more stock, bond, or options trades, will be reimbursed for ATM fees charged by other institutions. "There is no annual fee on the Fidelity Debit Card.
It also reimburses ATM fees daily, whereas IIRC Schwab does so monthly.
I know fidelity has cash management, and it does reimburses atm fees, but Fidelity charges a 1% foreign transaction fee.įidelity does not charge a foreign transaction fee on ATM withdrawals, only on purchases.
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