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Charles Schwab accounts

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hrlee7804
  10/12/2019 11:25 EST

Often on this site I hear about how good Charles Schwab accounts are because of no foreign money transfer fees. I currently use my hometown USA bank to receive my income monthly then I use a local Mexican banks ATM to get pesos. My hometown bank has no fee for their portion of the transactions and returns a maximum of 4 fees per month of the fee (17 pesos) charged my Cibanco here is San Carlos. However my Visa debit card charges me 1.1% to convert my USDs to Pesos. Assuming the USD to Peso for that day is 19.5 my bank give me the same rate....19.5 or withing .1 approx. but Visa takes 1.1%. So $19,5000 pesos at the ATM charges my account $1000 US. but Visa takes about $11,00......I am trying to figure out if with a Schwab account my will save me any money. Some here swear by Schwab but I would like to know what they are actually getting charged.
I tried to open a Schwab account online but once they knew I was physically in Mexico they said I had to be stateside to continue. They cannot answer my question about total fees because their debit cards are visa and they said for me to ask Visa. I can't find that information on Visas website so I am asking here to those who have accounts what the total fees are. Then of course I will confirm when I open an account stateside. Thanks

wjparke
  10/13/2019 11:43 EST

We have used our Schwab account all over the world for the past 6 years at no ATM or currency conversion fees. Works for us. Setting up an account maybe a VPN internet service may work?

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hrlee7804
  10/13/2019 12:28 EST

WJParke: I have a VPN for my Netflix etc but I was talking to the chat window and told them where I physically was so now they have that on file. I can wait a month or so until stateside.
My concern is the Visa debit card from Schwab is what charges the foreign transaction fee. My hometown bank is free also but Visa part is what nicks me the 1.1 %. So if no visa fee from them to you then that's good.








5

giershift43
  10/16/2019 10:03 EST

I use Schwab for the same reason.

Khizer
  10/16/2019 16:20 EST

Hi friends, Good ATM info, thx

I'm hoping to find an ATM / Bank in anywhere in Mexico which gives current exchange rates on ATM withdrawal from US Dollars to Mexican Pesos.
I've used HSBC / ATM in the past. It was okay before. Now it's not giving the good / fair / current exchange rate from US Dollars to Mexican Pesos on ATM withdrawals. And also adding up many fees.
My US Bank Cards don't charge me any fees on my withdrawals.
Please post or inform me which is the Best ATM is for withdrawals in puebla / or anywhere in Mexico.
Best Regards,

Thanks , ALEX
+1-713-376-7860 /
txt msg and
Available on what's app as well

GTGJimmy
  10/17/2019 15:01 EST

Hola - I spend a lot of time in Puebla, and I have had better ATM rates at Banregio (actually in Angelopolis - not sure if there are other ATM's) and Banorte.

If anyone has better suggestions, I would love to know also.

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Welcome Home Mexico occupies a niche in the market as a successful relocation and real estate firm helping expats moving to Mexico! As seen on CBS news, PBS, in the L.A. Times and more, we are one of the leading companies in this field. Welcome Home Mexico offers a wide range of services, multi-lingual knowledgeable brokers with experience, efficient and professional service.
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Khizer
  10/17/2019 15:12 EST

Hi there everyone,
Good ATM info in Puebla, to get better exchange rates from U.S. Dollars to Mexican Pesos. Thanks, Jimmy and you're helpful.

Have a nice day!
Alex : )

hrlee7804
  10/18/2019 11:05 EST

Khizer...Check it out but my back home bank and also Cibanco here in Sonora told me the exchange rate was a function of your bank back home and not the ATM being used. So searching for best rates here may be futile. Do your own research but this is what I think is true.

hrlee7804
  10/18/2019 11:09 EST

Khizer I think you will find the exchange rate is a product of your bank back home rather than a ATM?Mexico bank function. Anyway that is what my bank in Oregon and Cibanco here in Sonora told me. Check it out for yourself.

Khizer
  10/18/2019 12:10 EST

Hi, Hrlee

Thanks for the good info on the ATM Withdrawals Rate here.
I'd check with the home bank in States.
You're helpful. God Bless!!!

Alex

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