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If you travel internationally or do any business, have a local bank and a proper international one. A local banks follow local country laws, so in Canada, bank
by dade_ 4y ago
If you travel internationally or do any business, have a local bank and a proper international one.
A local banks follow local country laws, so in Canada, bank cards work in Cuba. However, employees are painfully useless about anything outside the country.
An international bank, because the employees aren’t clueless about internal transactions. However, they are under the strictest restrictions, cards don’t work in Cuba for example. Iran, Syria, etc will also be a problem. But I can move money between countries as easily as I move money between chequing accounts. Also, they send me my cards via DHL, not regular untracked mail like the very painfully dumb local banks.
- aembleton 4y agoAs I've got a Mastercard debit card, doesn't that just work anywhere in the world that accepts Mastercard?
- dade_ 4y agoNo. Trade embargos, sanctions, etc impact you. Canadian HQ bank, their Mastercard and VISA work fine in Cuba. US HQ bank or any international bank that follows US sanctions (if they want to deal in US Dollar, they do), their Mastercard and VISA do not work in Cuba. This is just 1 example, but China have their own list. And Russia is an interesting case too.
- 6ak74rfy 4y agoWhat are some good “international banks”? Does Schwab count?