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This blog is to provide additional information about traveling to the Portugal Fall Festival, with teachings by Geshe Kelsang Gyatso. Topics covered include travel tips, suggestions about what to see in Cascais and Lisbon, vegetarian restaurants, etc.

Disclaimer: I cannot verify the accuracy of any information here but will try to post the source.

Tuesday, September 24, 2013

Save Money: Easy ATM Card without Fees

Most of us are on budgets, so I wanted to recommend getting a Charles Schwab ATM card that doesn't charge fees, even abroad, which is rare. Even credit unions charge flat fees and/or percentages, as does the bank hosting the ATM where you're withdrawing money.
In my experience, the best way to get foreign currency is at ATMs in the country you're visiting, so you can save a lot of money if you're not paying extra fees.

The only place I know of that offers this is Charles Schwab. I just signed up for an account, and the process was easy. In fact, I was very impressed with their support. (I had a more complex situation, so I used their chat, and they had someone phone me a few minutes later, on Sat afternoon!) For most people, you can easily fill out an application online.
The minimum deposit is $1, and there don't seem to be other fees associated with the account.

They told me I would get my ATM card in 1-1/2 or 2 weeks, so there's still time to do this.

If you just want a checking account, you can read about it and sign up at http://www.schwab.com/public/schwab/banking_lending/checking_account

If you want a linked brokerage account as well, which has $0 minimum balance, or might want it in the future, go to
http://www.schwab.com/public/schwab/investing/accounts_products/accounts
(Schwab told me that it's impossible to add the brokerage account to an existing checking account later.)

If there's a Schwab office in your area and you prefer doing it in person, you can go to their office and someone will walk you through the application process; take your checkbook with you.

Note: I have no stake in whether you go to Schwab or not, and of course you should review the details carefully because finance is not my area and you need to see if it will work for your particular situation.

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