Post: #26

(06-28-2013 06:34 PM)DirectDanger Wrote:  How do they know you live abroad? Seems pretty easy to say you travel often for work or something. There must be something more to the story maybe?

They said something like if they see all my transactions are abroad (and in the same location) they will flag my account. The only thing I'd be doing domestically is wire transferring money to the CS account.
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Post: #27

Well thats good to know... I will have to keep that in mind.

Post: #28

Schwab looks sweet but last time I checked their site, it said it was only for US citizens/residents. I'm curious to hear what is the best bank that my fellow Canadian globe trotters use on the world travels. Ive been using the RBC VIP account where for a flat 30$/month, I have unlimited transactions and they refund all the atm fees I get charged for international withdrawals that they charge me. In other words no fees on those transactions from RBC (5$ each transaction normaly) but a fee will be charged by the local foreign bank. Ive been looking for alternative options until I get an account with HSBC in HKG.
So what is the best bank to use for traveling as a Canadian?

Post: #29

VP, try Harris bank. It's a US bank that accepts Canadian depositors, and gives you free atm withdrawals.

Post: #30

I have been using my Schwab debit card since moving to Manila (/thread-29738.html) and it has been working great. I called and requested that they move up my daily withdraw limit to $4,000USD for a day so I could get enough cash to buy a motorcycle (/thread-29738-...#pid579595) It was absolutely no problem.

Just this last month I got back over $70USD in ATM fees! ATMs in the Philippines charge 200 pesos ($4.50) per withdraw so it can add up quick.

I can not sing the praises of Schwab any higher. Very happy with the service.

Post: #31

Thanks for the update DD, I continue to enjoy your Manila experiences.

Which type of Schwab account did you get? They seem to require some steep minimums it sounds like you got the "global account" or whatever if they're letting you use it for 1+ years.

Post: #32

No special account. Just the normal account they give everyone.

Post: #33

I use the State Department Federal Credit Union. It's intended for State Dept. employees, but anyone can join through a loophole with some charity. I forget the details, I did it a couple years back, but when you do the app on the sdfcu.org site you can select "join charity automatically" or something, and through membership in that organization (which costs $0.00) you become eligible for joining SDFCU.

The benefits are branches at US embassies in some countries, great support for travel (most of their customers are traveling non-stop), and great features like a prepaid EMV card you can load from your bank account that has true chip-and-pin functionality. Also very low fees since it's not for profit like the commercial banks. Low fees for stuff like wire transfers, etc.

Post: #34

(12-02-2013 09:00 PM)BigDave Wrote:  I use the State Department Federal Credit Union. It's intended for State Dept. employees, but anyone can join through a loophole with some charity. I forget the details, I did it a couple years back, but when you do the app on the sdfcu.org site you can select "join charity automatically" or something, and through membership in that organization (which costs $0.00) you become eligible for joining SDFCU.

The benefits are branches at US embassies in some countries, great support for travel (most of their customers are traveling non-stop), and great features like a prepaid EMV card you can load from your bank account that has true chip-and-pin functionality. Also very low fees since it's not for profit like the commercial banks. Low fees for stuff like wire transfers, etc.

Anyone else try this out? Considering it.

Post: #35

My experience with signing up for Schwab earlier this month was much different than what other guys are reporting.

I filled out the online form and my account was opened immediately. They sent me a debit card and checks as soon as I deposited funds.

I'm guessing there are either some extenuating circumstances involved or they streamlined the process since last year.

Gonna check out HSBC also since I need to maintain a physical account but I've been wanting to ditch Bank of America.

Post: #36

If your in the UK, the Halifax clarity credit card is very good. 0% fees on any transaction and no charges at the ATM. you get pretty much forex rates too. Its what I use at the moment.

Will look at the other links here too.

Post: #37

Here's a summary of the options in the UK: http://www.thisismoney.co.uk/money/cards...nding.html

In Australia: GE Money 28 Degrees Mastercard and Citibank Classic accounts are good for avoiding overseas transaction fees.

In Estonia: Swedbank debit card has no currency transaction fees for electronic payments. There's still a foreign ATM withdrawal fee, but if you put everything on card you can avoid it.

In many Central/Eastern European countries, UniCredit allows its cardholders to withdraw Euros from UniCredit ATMs in other countries fee-free.

Post: #38

Has anyone tried HSBC Expat or Barclay's International Banking

http://www.expat.hsbc.com/1/2/#dropDown

https://wealth.barclays.com/en_gb/home/i...nking.html

Looking into switching banks

Post: #39

(01-26-2014 07:38 PM)calwinston Wrote:  Has anyone tried HSBC Expat or Barclay's International Banking

http://www.expat.hsbc.com/1/2/#dropDown

https://wealth.barclays.com/en_gb/home/i...nking.html

Looking into switching banks

Yes, and I found them to be a waste of time. The only reason to do your banking in Jersey/Guernsey/Isle of Man is if you have an offshore structure in one of those countries. If you don't, you'll just be paying a lot of fees for no reason and their range of credit/debit cards is utterly useless.

My advice: use basic local bank accounts in whichever countries you live, and keep the bulk of your cash invested in a brokerage account in a financial centre (UK, USA, HK, Singapore, etc.). Most brokerage accounts can easily be opened online with scans of a couple of documents.