topic Re: Finally, got a approved for the Charles Schwab checking accounts.. in Personal Finance

Finally, got a approved for the Charles Schwab checking accounts..

TheDirty12 — Sun, 16 Feb 2025 05:52:17 GMT

So happy!

Thank you!

Re: Finally, got a approved for the Charles Schwab checking accounts..

jcar — Sun, 16 Feb 2025 17:27:38 GMT

Nice! Curious on why you preferred Charles Schwab over other checking accounts?

Re: Finally, got a approved for the Charles Schwab checking accounts..

TheDirty12 — Mon, 17 Feb 2025 02:26:04 GMT

No foreign transaction fees.

Re: Finally, got a approved for the Charles Schwab checking accounts..

pizzadude — Mon, 17 Feb 2025 17:05:28 GMT

Did they deny opening a checking account for you previously ? Any prior history with them ?

Re: Finally, got a approved for the Charles Schwab checking accounts..

ptatohed — Tue, 18 Feb 2025 06:58:32 GMT

Checking accounts are subject to FTFs?

Re: Finally, got a approved for the Charles Schwab checking accounts..

Outbackexplorer — Tue, 18 Feb 2025 19:01:55 GMT

@ptatohed wrote:
Checking accounts are subject to FTFs?

He could either mean debit card transactions, which yes many banks charge a foreign transaction fee on their debit card, or maybe he meant foreign atm fees which Schwab reimburses.

Re: Finally, got a approved for the Charles Schwab checking accounts..

MarkintheHV — Wed, 19 Feb 2025 08:37:04 GMT

I had all of my banking with Schwab for this reason.....no ATM fees are nice. Its convenient to just grab cash from any ATM knowing you get the fees back. I ended up closing my Schwab only because I consolidated everything at Fidelity which offers the same..........no ATM fees.

Re: Finally, got a approved for the Charles Schwab checking accounts..

TheDirty12 — Thu, 20 Feb 2025 23:09:38 GMT

pizzadude

Yes, I was denied last year! I was only approved for the brokeage account in November.

I waited 60 days later, and pulled the trigger and CS approved me.

Re: Finally, got a approved for the Charles Schwab checking accounts..

TheDirty12 — Thu, 20 Feb 2025 23:12:28 GMT

@ptatohed Most banks. CS reimburse me for ATM fees. Which is so cool!

Re: Finally, got a approved for the Charles Schwab checking accounts..

TheDirty12 — Thu, 20 Feb 2025 23:14:18 GMT

@Outbackexplorer

Yes, they reimburse all ATM fees. However, they don’t do it until the end of the month, so it’s not an instantaneous thing.

Re: Finally, got a approved for the Charles Schwab checking accounts..

TheDirty12 — Thu, 20 Feb 2025 23:18:44 GMT

@MarkintheHV

Do you like Fidelity bank?

Re: Finally, got a approved for the Charles Schwab checking accounts..

MarkintheHV — Thu, 20 Feb 2025 23:54:24 GMT

@TheDirty12 I like them better than Schwab with one caveat. Schwab would always credit checking deposits immediately, but Fidelity will wait a few days before they release the funds. That is a small annoyance for me because I never let me accounts get that low, but, for some that would be an issue.

Re: Finally, got a approved for the Charles Schwab checking accounts..

ptatohed — Fri, 21 Feb 2025 01:32:16 GMT

@TheDirty12 wrote:

@ptatohed Most banks. CS reimburse me for ATM fees. Which is so cool!

I understand the ATM fee reimbursement. My Chase PC offers this and so does my primis. I was confused by the checking FTF.

Re: Finally, got a approved for the Charles Schwab checking accounts..

Varsity_Lu — Fri, 21 Feb 2025 02:17:16 GMT

@TheDirty12

Fidelity isn't a bank. They partner with another bank for direct deposits and ACH transfers and stuff. I think this is the main reason there is a longer hold on funds when you deposit them. Also, cash is held in a SPAXX money market account which may be a other reason for fund availability delays.

I love Fidelity. My community bank is still my main hub, but I have switched to Fidelity for physical check writing and as my main HYSA for emergency funds. Their ATM fee policy is the same as Schwab's.

I switched my health savings account there, too, to get a better interest rate. HSA cash is held in their FDRXX fund which is almost identical to SPAXX. Both are still over 4%.

Re: Finally, got a approved for the Charles Schwab checking accounts..

goodkredit — Sun, 09 Mar 2025 17:57:50 GMT

I'm curious why they denied you the first time. I'm interested in Charles Schwab as well but want to be prepared before I apply.

Re: Finally, got a approved for the Charles Schwab checking accounts..

NoMoreE46 — Wed, 12 Mar 2025 17:39:16 GMT

Thanks @Outbackexplorer for the explanation.

@ptatohed

I too was myopic about swiping Debit cards overseas. Most of us, in reality prolly wouldnt use a debit beyond stateside.