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Schwab wire transfer fees


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lamoe

Need to send money to owner of the condo I rent. Went to Chase Bank - "yes sir - no problem - $50.00 fee for external transfer" No thank you.

Called Schwab  I have a brokerage and checking account with them - debt no credit card - "yes sir can do $15.00 but let me see if I can get that waved for first time usage"  He put a note in my account file to wave fee (yes I got his name) - $15 for any amount? "Yes sir up to the amount in you account of course :biggrin_01:"

Remember Schwab does not charge (reimburses) any ATM fees. Don't know what other services charge but $15.00 for any amount dosen't seem too bad

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SkyMan
1 hour ago, lamoe said:

but $15.00 for any amount dosen't seem too bad

$16 to transfer $1 would kinda suck.

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lamoe
2 hours ago, SkyMan said:

$16 to transfer $1 would kinda suck.

True there are other means for small amounts same as $50 would be even worse but for a couple of thousand (me) to tens of thousands (not me) it's not bad.

 

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BossHog
5 hours ago, lamoe said:

Need to send money to owner of the condo I rent.

The fees aren't only on the sending end. The receiving Philippine bank can charge an extortionate fee too. And if you're wiring dollars to a peso account the exchange rate can be quite unfavorable. There are work-arounds of course, but those are two things to be aware of.

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lamoe

First time for me - will have to see what total fees are. I'm paying several months in advance and we settled on the exchange rate will be whatever it is on the last day of the month.

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Dafey
9 hours ago, lamoe said:

Need to send money to owner of the condo I rent

Is the owner actually in the Philippines?

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lamoe
10 hours ago, Dafey said:

Is the owner actually in the Philippines?

I work through  a Filipino guy who acts as unit manager  - BPI bank

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Dafey

I think you can do BPI with Gcash. That can be done online with your Schwab debit card...I think.

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lamoe
11 minutes ago, Dafey said:

I think you can do BPI with Gcash. That can be done online with your Schwab debit card...I think.

Thanks I'll look at Gcash exchange rate

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lamoe
20 minutes ago, Dafey said:

I think you can do BPI with Gcash. That can be done online with your Schwab debit card...I think.

Yep - but needed to have been registered with them previously using +63 code

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lamoe
Posted (edited)

Schwab money wire online still "down". Went to office - they investigated - not down - available only using my brokerage account. Did the request from their office. Stated amount "do you want to send that in USD or USD converted  to Pesos?" Pesos. You'll need the CLABE number of their bank. Sent msg asking for it. Not sure what Schwab's exchange rate will be until get number.

Edited by lamoe
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