Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 01-26-2015, 02:36 PM   #381
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 15,117
Quote:
Originally Posted by explanade View Post
I actually asked them why the difference in the rates and they came back and asked me for the first 6 digits of my card.

I guess they have different deals with different banks.

But Schwab specifically said they use the rates on the Visa site. When I've checked my other ATM cards, I didn't recall this noticeable a spread.
I really didn't think they did have different deals with different banks. I thought all VISA marked cards would have the same rate as they only publish the one rate with their calculator.
__________________

__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-27-2015, 07:40 AM   #382
Recycles dryer sheets
fosterscik's Avatar
 
Join Date: Jun 2013
Posts: 174
This thread has been really helpful to me. I am rapidly closing in on ER and DW and I have decided to travel much more as we move toward that date. I'm planning a two-week vacation in Spain next May and want to have my cash needs met. I think I'm good to go with my BarclayCard arrival+ credit card (It's supposed to be chip and pin when needed and several people have reported success). It has an annual fee but the 2% cash-back toward travel makes it attractive to me. ATM use is another story. I have used the CapitalOne360 debit card in the past but they have no partner ATMs in Spain...

This thread has encouraged me to open a Schwab account to get their fee-free (or in reality fee-reimbursed) debit card for ATM cash. Given it works with any ATM network it looks like a great deal.

I thought I'd share this deal for others who also are exploring this account. If you deposit $10k in a new account and use offer code REFER you get a $100 bonus from Schwab. They obviously want you to use the brokerage account, but there is no requirement to do so. This 1% reward nicely offsets any penalty associated with moving cash to this account from any online bank (meets or exceeds their annual interest rates). The only downside I see is the hard credit check (and the need to monitor/maintain yet another account).
__________________

__________________
fosterscik is offline   Reply With Quote
Old 01-27-2015, 07:43 AM   #383
Recycles dryer sheets
fosterscik's Avatar
 
Join Date: Jun 2013
Posts: 174
Here's a link giving details of the offer:
Schwab Personal Referral Program
__________________
fosterscik is offline   Reply With Quote
Old 02-02-2015, 02:53 PM   #384
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Second City Land
Posts: 23,316
Got my AmEx replacement card in the mail today. Pleased to see them rolling out chip cards.
__________________
MichaelB is online now   Reply With Quote
Old 02-02-2015, 02:56 PM   #385
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 15,117
Quote:
Originally Posted by fosterscik View Post
This thread has been really helpful to me. I am rapidly closing in on ER and DW and I have decided to travel much more as we move toward that date. I'm planning a two-week vacation in Spain next May and want to have my cash needs met. I think I'm good to go with my BarclayCard arrival+ credit card (It's supposed to be chip and pin when needed and several people have reported success). It has an annual fee but the 2% cash-back toward travel makes it attractive to me. ATM use is another story. I have used the CapitalOne360 debit card in the past but they have no partner ATMs in Spain...

This thread has encouraged me to open a Schwab account to get their fee-free (or in reality fee-reimbursed) debit card for ATM cash. Given it works with any ATM network it looks like a great deal.

I thought I'd share this deal for others who also are exploring this account. If you deposit $10k in a new account and use offer code REFER you get a $100 bonus from Schwab. They obviously want you to use the brokerage account, but there is no requirement to do so. This 1% reward nicely offsets any penalty associated with moving cash to this account from any online bank (meets or exceeds their annual interest rates). The only downside I see is the hard credit check (and the need to monitor/maintain yet another account).
Good tip, thanks!
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is offline   Reply With Quote
Old 02-02-2015, 02:59 PM   #386
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 15,117
This is for Explanade, and other folks trying to understand credit cards and foreign exchange.

Can't say this completely explains it, but here is a more detailed view at the issue of how foreign exchange rates are set by VISA, and some comparisons with other foreign exchange sources. There is even a special interbank rate for exchanges in excess of a million dollars (OANDA).

How does Visa Calculate its Currency Exchange Rate? | The Inquiring Investor
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is offline   Reply With Quote
Old 02-24-2015, 08:02 PM   #387
Confused about dryer sheets
 
Join Date: Feb 2015
Posts: 3
Quote:
Originally Posted by fosterscik View Post
This thread has been really helpful to me. I am rapidly closing in on ER and DW and I have decided to travel much more as we move toward that date. I'm planning a two-week vacation in Spain next May and want to have my cash needs met. I think I'm good to go with my BarclayCard arrival+ credit card (It's supposed to be chip and pin when needed and several people have reported success). It has an annual fee but the 2% cash-back toward travel makes it attractive to me. ATM use is another story. I have used the CapitalOne360 debit card in the past but they have no partner ATMs in Spain...

This thread has encouraged me to open a Schwab account to get their fee-free (or in reality fee-reimbursed) debit card for ATM cash. Given it works with any ATM network it looks like a great deal.

I thought I'd share this deal for others who also are exploring this account. If you deposit $10k in a new account and use offer code REFER you get a $100 bonus from Schwab. They obviously want you to use the brokerage account, but there is no requirement to do so. This 1% reward nicely offsets any penalty associated with moving cash to this account from any online bank (meets or exceeds their annual interest rates). The only downside I see is the hard credit check (and the need to monitor/maintain yet another account).
Clearly you won't want to use your Barclay Arrival+ credit card for you cash needs due to cash advance fees.

If you don't need the chip, I got the no annual fee version of the Arrival card (non-plus) which has reduced points (1 point except 2 on travel and dining) but otherwise virtually the same other benefits including free FICO score and no FTF.

Contrary to what is being reported in many ngs, the Schwab debit card IS available without a companion brokerage account. Simply apply for a savings account instead. (I have one!)

State Farm Bank is also a great debit card (but no chip) - no fees and reimbursed ATM fees, including balance inquiries, which Schwab may not cover, and allows deposits via ATM (Schwab doesn't and even provides mailers to mail checks in). I have not ever had a non-chip debit card rejected at an ATM for cash withdrawal, so no chip shouldn't be much of an issue with State Farm Bank.

For my upcoming 5 week trip in April, I zeroed in on:

Debit cards:
1. Schwab chip card (no offline pin so won't work at offline terminals like train ticket kiosks) - no fees and [only] ATM cash withdrawal fee rebates.
2. State Farm Bank NON-chip debit card - no fees and ALL ATM fees rebated plus allows deposits via ATM.
Note: BofA debit cards, as of Nov 2013, charge 3% PLUS $5 at non-Global Alliance ATMs!

Credit Cards (chip):
1. Andrews no AF/FTF Globtrek Rewards Credit Card with ON and OFFline PIN support - for train ticket kiosks (rewards program minimal).
2. BofA no AF/FTF fee Travel Rewards VISA - 1.5% cash back against travel purchases and no fees - not for use for cash advances! No purchase PIN capability (yet?)
3. Delta Skymiles (has AF/no FTF) Business (free bag, airmiles, other Amex perks)

Although Barclaycard Arrival Plus ($450 total signup bonus) works at offline terminals, when $89 AF posted I moved credit to no-fee Arrival to get additional $210 total signup bonus (Andrews provides OFFline PIN support)

I replaced Chase Sapphire Preferred (40k signup bonus?) at AF posting with business Ink card to get large 70k signup bonus - both converted 1:1 to United Airmiles instantly. The CSP, without ANY PIN support except for cash advance, given that they missed promised PIN support in 2014, is just not competitive, and the darn metal card was heavy and a pain to destroy! They even send a return envelope because of that issue.

NOTE: I applied and got both of the replacement card types shortly BEFORE dropping prior card so that I could move credit from existing card if needed (Barclay did) to qualify for replacement. Also, assure that all points are redeemed or converted to airmiles before canceling account to avoid losing them!
__________________
uds0 is offline   Reply With Quote
Old 02-24-2015, 08:40 PM   #388
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 15,117
Quote:
Originally Posted by uds0 View Post
Contrary to what is being reported in many ngs, the Schwab debit card IS available without a companion brokerage account. Simply apply for a savings account instead. (I have one!)
That's interesting, because Schwab themselves say a brokerage account is required.
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is offline   Reply With Quote
Old 02-24-2015, 09:00 PM   #389
Moderator
Sarah in SC's Avatar
 
Join Date: Sep 2005
Location: Charleston, SC
Posts: 13,417
I definitely had the Schwab debit card and checks for years with only my brokerage (savings) account.

Last year I decided to open a high yield checking account as well, and switched my debit card and bill pay to that.


Sent from my iPhone using Early Retirement Forum
__________________
“One day your life will flash before your eyes. Make sure it's worth watching.”
Gerard Arthur Way

Sarah in SC is offline   Reply With Quote
Old 02-24-2015, 09:57 PM   #390
Confused about dryer sheets
 
Join Date: Feb 2015
Posts: 3
Schwab brokerage and Schwab bank are two different entities. The savings account I have is with the bank and has no relationship to the brokerage side.
__________________
uds0 is offline   Reply With Quote
Old 02-25-2015, 05:52 AM   #391
Moderator
Sarah in SC's Avatar
 
Join Date: Sep 2005
Location: Charleston, SC
Posts: 13,417
My Schwab bank and brokerage accounts are linked and money is automatically swept from the brokerage to the bank account whenever I use the debit card or bill pay. Likewise I can choose to deposit checks in either one on Schwab's mobile app. It is pretty seamless.


Sent from my iPhone using Early Retirement Forum
__________________
“One day your life will flash before your eyes. Make sure it's worth watching.”
Gerard Arthur Way

Sarah in SC is offline   Reply With Quote
Old 02-25-2015, 06:11 AM   #392
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 15,117
Quote:
Originally Posted by Sarah in SC View Post
My Schwab bank and brokerage accounts are linked and money is automatically swept from the brokerage to the bank account whenever I use the debit card or bill pay. Likewise I can choose to deposit checks in either one on Schwab's mobile app. It is pretty seamless.


Sent from my iPhone using Early Retirement Forum
Do you not worry about someone getting hold of your debit card credentials and then pulling money out and the money from the brokerage automatically swept to cover that and more abuses?

I know of someone who had that happen to them. Took a long time to unwind. Husband had used the debit card at a hardware store. Money started to fly out and the "overdraft protection" or whatever kept pulling money from the brokerage account.

After that they decided to only use a debit card as an ATM card and never for purchase at a store. They also made sure accounts were "unlinked" so that there was no overdraft protection.
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is offline   Reply With Quote
Old 02-25-2015, 07:20 AM   #393
Moderator
Sarah in SC's Avatar
 
Join Date: Sep 2005
Location: Charleston, SC
Posts: 13,417
I typically purchase a money market mutual fund with all but the money I expect to spend while traveling, that way any loss is limited to what is actually in "cash" in the account. Anything over that is locked up in the mutual fund and must be traded T+1 to get out.

However, I've been surprised that so many places, even in remote Central Asia, will take credit cards for fuel or hotel purchases.

Oh, and I am fairly obsessive about checking Mint every time I get internet when traveling (and at home).
I also am on Schwab's advisor website all day at work, and check my own accounts there at least daily when working.
__________________
“One day your life will flash before your eyes. Make sure it's worth watching.”
Gerard Arthur Way

Sarah in SC is offline   Reply With Quote
Old 02-25-2015, 08:21 AM   #394
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 15,117
Quote:
Originally Posted by Sarah in SC View Post
I typically purchase a money market mutual fund with all but the money I expect to spend while traveling, that way any loss is limited to what is actually in "cash" in the account. Anything over that is locked up in the mutual fund and must be traded T+1 to get out.
OK - I see how that limited you exposure to unauthorized withdrawals.
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is offline   Reply With Quote
Old 02-25-2015, 10:05 AM   #395
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
kcowan's Avatar
 
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 5,301
Send a message via Skype™ to kcowan
Use of chip and PIN reduces fraud in Canada

The usage in Canada has dramatically reduced fraud and most of the international transactions would be in the US and Mexico.
__________________
For the fun of it...Keith
kcowan is online now   Reply With Quote
Old 02-25-2015, 03:03 PM   #396
Thinks s/he gets paid by the post
Marita40's Avatar
 
Join Date: May 2011
Location: St. Paul
Posts: 1,043
I haven't read this whole thread. I'm travelling to Italy and Austria next month. A quick call to my bank (debit card for ATM) and Penfed (credit card) was all it took to get a chip and pin version of each card. It appears that nearly everyone is on the verge of rolling these out--my employee credit card will start issuing them next month.
__________________
Marita40 is online now   Reply With Quote
Old 02-25-2015, 04:21 PM   #397
Confused about dryer sheets
 
Join Date: Feb 2015
Posts: 3
Quote:
Originally Posted by Marita40 View Post
I haven't read this whole thread. I'm travelling to Italy and Austria next month. A quick call to my bank (debit card for ATM) and Penfed (credit card) was all it took to get a chip and pin version of each card. It appears that nearly everyone is on the verge of rolling these out--my employee credit card will start issuing them next month.
Be sure to quickly check the fee schedules on those cards for travel abroad and alert the issuers about your travel dates and itinerary so the cards don't get blocked while traveling. ATM fees are typically not charged in Europe, and having a debit card that reimburses any that do (like Schwab or State Farm) eliminates that potential cost. Even if a card issuer states that they don't charge FTF (foreign transaction fee), many debit card issuers still pass through the VISA ISA 1% fee charged them by VISA.
__________________
uds0 is offline   Reply With Quote
Old 02-25-2015, 09:15 PM   #398
Thinks s/he gets paid by the post
sengsational's Avatar
 
Join Date: Oct 2010
Posts: 3,506
Quote:
Originally Posted by audreyh1 View Post
Do you not worry about someone getting hold of your debit card credentials and then pulling money out and the money from the brokerage automatically swept to cover that and more abuses?
I know you're taking to Sarah, but I'll also chime-in that I'm paranoid enough not to use my debit card except in trusted places. That's the insane thing I do to get 1.5% on twenty-five grand (see kasasa-providers). This madness will end soon.
__________________
sengsational is offline   Reply With Quote
Old 02-25-2015, 09:38 PM   #399
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 15,117
Quote:
Originally Posted by sengsational View Post
I know you're taking to Sarah, but I'll also chime-in that I'm paranoid enough not to use my debit card except in trusted places. That's the insane thing I do to get 1.5% on twenty-five grand (see kasasa-providers). This madness will end soon.
We only use ours as an ATM card.

And we have them on accounts where we can limit the $$ When traveling. We use different ATM cards at home.
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is offline   Reply With Quote
Old 02-26-2015, 05:37 AM   #400
Moderator
Sarah in SC's Avatar
 
Join Date: Sep 2005
Location: Charleston, SC
Posts: 13,417
Oh, me, too. The debit card only gets used when we are traveling (I never need cash at home any more) and only at bank (inside) ATMs. If the merchant will take a card, we use a credit card. That is what I consider safest.

I don't think we found a single place besides banks in the bigger cities in Kazakhstan and Mongolia that could take any sort of card. Ulan Baatar does have a handful of restaurants and hotels that do, though.


Sent from my iPhone using Early Retirement Forum
__________________

__________________
“One day your life will flash before your eyes. Make sure it's worth watching.”
Gerard Arthur Way

Sarah in SC is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
moving chip to a newer phone modhatter Other topics 3 03-04-2012 05:14 PM
Do credit unions cancel credit cards because of inactivity? rec7 FIRE and Money 11 12-22-2008 04:21 PM
GM bankruptcy as auto bargaining chip? pedorrero FIRE and Money 1 11-22-2008 05:40 PM
PNY Memory Chip (camera) kaneohe Other topics 1 09-09-2008 06:50 PM
Credit Cards and Credit Matuski Other topics 21 08-14-2006 12:40 PM

 

 
All times are GMT -6. The time now is 11:03 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.