When we travel, we often use our Charles Schwab debit card to save on foreign ATM and exchange fees. We also use it because it works without issue 99% of the time. And when it doesn’t, it’s always been due to fraud detection alerts. One call immediately fixes the issue.

It’s popular with many US travelers largely because of its simplicity and being less expensive than using other cards. Schwab reimburses ATM fees worldwide and does not charge foreign transaction fees. That makes it easy to withdraw cash without worrying about finding a specific bank or paying hidden costs. Their exchange rates are generally very competitive.

It’s good to remember that having direct access to cash is still useful where small shops, cafés and markets prefer cash over cards.

One thing to remember is because it’s a debit card, it can mean less fraud protection and no float compared to a credit card. It’s also important to be on your toes as some European ATMs or merchants may try to apply dynamic currency conversion which can result in a worse exchange rate.

We ran across this video from Savvy Nomad and wanted to share it here.