Which ATM card do you recommend? And why?

[nothingbutquestions 98]

Arriving within a week, permanent move.

Have 3 cards - USAA, HSBC, and Capitol One.

USAA just informed me they now charge a 1% total transaction fee, even on ATM withdrawls.

I set up HSBC years ago and never really used it.

Capitol One seems the best to me with no fees.

Y'all have the experience. I hope you'll share and guide me. Thanks

[nothingbutquestions 98]

Too late to edit:

Just spoke to HSBC and they informed me they now charge a 3% Foreign Transaction Fee !

So just what is the best and least expensive way, as of today, to receive funds from US accounts???

[+Salty Dog 58,099]

Not sure, but regardless, I would keep the USAA if just as a backup.

[Enuff 29,722]

Quickly open a Charles Schwab account.

Free ATMs everywhere (they refund the service charges)

When you hit an ATM you get the going rate.

I just received $23.45 credit for April ATM fees.

Sent from my CPH1819 using Tapatalk

[savarity 505]

I certainly recommend the Schwab card too. It's what I use, and I always get the atm fees back.

For credit cards just look for one that doesn't charge foreign transaction fees. I use a bank of America one.

Sent from my SM-G925V using Tapatalk

[RangerUp 1,197]

4 hours ago, nothingbutquestions said:

Just spoke to HSBC and they informed me they now charge a 3% Foreign Transaction Fee !

Not at their own branch, 40,000p withdrawal with no charges.

23 minutes ago, savarity said:

For credit cards just look for one that doesn't charge foreign transaction fees. I use a bank of America one.

Or Capital One.

[Monsoon 28,935]

Best ATM for U.S. people - Schwab

Best CC for travel - Chase Sapphire Preferred (or Reserve if lounge access is important to you).  

Exchange rates better than available at the money changer every time Ive checked. 

[+Dafey 11,997]

Schwab...can do it online today and you're good to go. Only reason it takes more time is if you are making a joint account with wife...then there is paperwork.

[RangerUp 1,197]

50 minutes ago, Dafey said:

Schwab...can do it online

If you're in the US.

[+Dafey 11,997]

25 minutes ago, RangerUp said:

If you're in the US.

I believe Schwab will overnight it to you worldwide...for a fee.

He said he's arriving in one week so he could set up the account today and have the card within a couple of days before he moves. These banks desperately want you to use their card and will do backflips to get it in your hands.

[lopburi3 601]

If this is to be a long term stay you might want to check into other methods of money transfer - even writing checks to a local bank account appears to be a cheap option in Philippines.  Remember ATM networks do have outages for international cards (normally at the time you need) and local fees may be charged and you need to make sure the ATM does not use DCC (which normally adds a lot to local bank profit - out of your pocket).

Quote

Dynamic currency conversion (DCC) or cardholder preferredcurrency (CPC) is a process whereby the amount of a Visa or MasterCard transaction is converted by a merchant or ATM to the currency of the payment card's country of issue at the point of sale.

 

[RangerUp 1,197]

13 minutes ago, Dafey said:

I believe Schwab will overnight it to you worldwide...for a fee.

I mean they won't open your account if you aren't currently in the US (and if they know it).

[Kabisay-an gid 6,429]

14 hours ago, RangerUp said:

I mean they won't open your account if you aren't currently in the US (and if they know it).

The OP stated in his opening post that he's still in the USA for about another week. Plenty of time to apply online and get approved.

[RangerUp 1,197]

1 hour ago, Kabisay-an gid said:

The OP stated in his opening post that he's still in the USA for about another week. Plenty of time to apply online and get approved.

True.

Op doesn't see to be replying, but if he already has an HSBC debit card and Capital One credit card, he won't be paying any fees anyway. 

[Kabisay-an gid 6,429]

2 hours ago, RangerUp said:

Op doesn't see to be replying, but if he already has an HSBC debit card and Capital One credit card, he won't be paying any fees anyway.

 

On 5/1/2018 at 1:55 PM, nothingbutquestions said:

Just spoke to HSBC and they informed me they now charge a 3% Foreign Transaction Fee !