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I looked at moving an account to Schwab, but it looked like they cut off their international wires. Did you receive any internal message about this? I may hav
by kxyvr 10y ago
I looked at moving an account to Schwab, but it looked like they cut off their international wires. Did you receive any internal message about this? I may have been mistaken, but I recall when I looked a little over a year ago they offered the service, but when I look now, they do not:
https://www.schwab.com/public/file/P-6425867/SLS77378-01.pdf https://www.schwab.com/public/file/P-6425867/SLS77378-01.pdf
As a slight aside, since I've been hammered by this in the past, even if the card says no foreign transaction fees, that can be sort of a lie if you're getting screwed on the foreign exchange rate. Unfortunately, figuring out that rate can be extremely difficult not just because the spot rates changes daily, but because most banks won't disclose their formula. At least for wires, some banks like BofA and Wells Fargo take upwards of 4% off the spot rate (think xe.com numbers) in addition to fees. Though, do they do not and not required to call this a fee. Basically, what I found is that the no foreign transaction fee cards can be a scam. I have no idea what Schwab is like and I'd be curious to hear.