Low cost US$ account with debit card

planforfuture

"USD to UKP conversion on Wise (MultiCurrency account) - 0.35%.   Takes seconds."
Is it possible to keep the transferred fund in the Wise account in its original currency I.e. US$?
So does Wise charge fee using the debit card outside UK on foreign currency purchases?

planforfuture

"Sending funds to UK bank account - £0.32p (plus conversion above if not already done). Takes seconds."
Is £0.32p fixed charge irrelevant of amount to transfer?

planforfuture

sausage_time said:

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.

Super. Thanks. I just called Schwab customer services (US) and they directed me where to download the correct form to apply. Schwab (UK) customer service do know told me I can't !!!

sausage_time

planforfuture said:

"USD to UKP conversion on Wise (MultiCurrency account) - 0.35%.   Takes seconds."
Is it possible to keep the transferred fund in the Wise account in its original currency I.e. US$?
So does Wise charge fee using the debit card outside UK on foreign currency purchases?

Yes
https://wise.com/gb/multi-currency-account/
No
https://wise.com/gb/multi-currency-account/pricing

sausage_time

planforfuture said:

"Sending funds to UK bank account - £0.32p (plus conversion above if not already done). Takes seconds."
Is £0.32p fixed charge irrelevant of amount to transfer?

Yes
https://wise.com/gb/pricing/borderless-send?source=GBP&target=GBP&payInMethod=BALANCE&sourceAmount=1000 

planforfuture

@sausage_time, please advice how do I transfer money from the Schwab account to my wise account? Does Wise provide an international banking acc# for such purpose?

sausage_time

Yes, Wise US$ virtual bank details here:
https://wise.com/help/articles/2827506/how-do-i-use-my-usd-account-details
In Schwab you can "Link to an External Account" and set it up using the details.  Schwab do a couple of trail transactions that you need to verify, then you are all set.

planforfuture

Wise said a charge of US$ 7.5 to receive wire transfer - so it is not free then?

planforfuture

No worries. It is the sending via external linked account is free. Wire is with charge.

sausage_time

Wire payments are different.  ACH payments with the routing number are free to send (from Schwab) and to receive in Wise.

All of these details are on the Wise page.
https://wise.com/gb/pricing/receive?source=USD&target=USD&payInMethod=RECEIVE_BANK_TRANSFER&sourceAmount=1000