Low cost US$ account with debit card

Chino

planforfuture said:

I live in the UK so can only open a Schwab One International investment account. Account with debit card is not available for UK residents.

I also have one of these accounts and the only restriction on applying for a debit card that I can find is that Australian residents are ineligible.

Why don't you just submit an application form and see what happens?
https://client.schwab.com/secure/file/P-221804

Thrugelmir

To open an international US $ brokerage account requires a minimum deposit of $25,000.  

sausage_time

j.p said:

Does anyone know if Wise's Debit Card continues to auto-renew for free as long as it is used? The terms used to state that as long as the card would be used one month prior to expiry, it would auto-renew for free, otherwise a replacement card could be ordered (manually) but a fee would be charged. However last time I checked the terms I've found nothing of the sort.

I don't recall ever seeing that - I've had my card for ~2 years, and it expires early next year.  Had I known I would have set a reminder to use it the month before expiry.

planforfuture

Chino said:

planforfuture said:

I live in the UK so can only open a Schwab One International investment account. Account with debit card is not available for UK residents.

I also have one of these accounts and the only restriction on applying for a debit card that I can find is that Australian residents are ineligible.

Why don't you just submit an application form and see what happens?
https://client.schwab.com/secure/file/P-221804

I have contacted their customer services and non US residents are not eligible.

sausage_time

planforfuture said:

Chino said:

planforfuture said:

I live in the UK so can only open a Schwab One International investment account. Account with debit card is not available for UK residents.

I also have one of these accounts and the only restriction on applying for a debit card that I can find is that Australian residents are ineligible.

Why don't you just submit an application form and see what happens?
https://client.schwab.com/secure/file/P-221804

I have contacted their customer services and non US residents are not eligible.

I am a UK resident and I have one (and I know a few other people that do too).  Schwab list on their UK webs site.  I know the Amex credit card is only for US folks - I wonder if they are confused.

planforfuture

Once you are in Schwab UK website, the account options are limited and the debit card account is not available. If you have managed to locate it, please paste the link here.

planforfuture

Can a Wise customer please enlight me how it works and potential fees if I want to do the following ...
I would like to transfer us$10,000. So I initiate a transfer from my bank in the US and provide them mu Wise account details. Then after a day or two, the money is transferred into the Wise account. What is the likely fee?
So I can now access the fund in my Wise account and I can withdraw US$ from ATMs around the world with the debit card, what is the ATM withdrawal limit per day and the charges? And if I need to transfer some of the fund e.g us$ 5,000 to other UK bank, what is the fee.

planforfuture

Wise is FCA regulated with protection?

sausage_time

planforfuture said:

Once you are in Schwab UK website, the account options are limited and the debit card account is not available. If you have managed to locate it, please paste the link here.

See my earlier post.  
https://www.schwab.co.uk/brokerage-account

Easily manage and access your money with a Schwab brokerage account.

• Convenient cash access and management

  Access and manage cash in your brokerage account with check writing up to your available account balance, and a Visa® debit card.

• No ATM fees anywhere

  Use your Schwab Visa® debit card at any ATM in the world, and we will refund the fees.

sausage_time

planforfuture said:

Can a Wise customer please enlight me how it works and potential fees if I want to do the following ...
I would like to transfer us$10,000. So I initiate a transfer from my bank in the US and provide them mu Wise account details. Then after a day or two, the money is transferred into the Wise account. What is the likely fee?
So I can now access the fund in my Wise account and I can withdraw US$ from ATMs around the world with the debit card, what is the ATM withdrawal limit per day and the charges? And if I need to transfer some of the fund e.g us$ 5,000 to other UK bank, what is the fee.

• Cost of Schwab to Wise - zero.  Takes 1 day (overnight)
• USD to UKP conversion on Wise (MultiCurrency account) - 0.35%.   Takes seconds.
• Sending funds to UK bank account - £0.32p (plus conversion above if not already done). Takes seconds.
• ATM fees are not the keenest https://wise.com/help/articles/2935769/how-much-does-it-cost-to-withdraw-cash  so why not just use the card to pay in whatever currency?