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Need a checking account with no foreign transaction fees.

Contributor

Need a checking account with no foreign transaction fees.

I can do a certain amount of direct diposit per month, and I'd like the checking (or savings) account to be free of any annual/monthly fees. 

 

I've hard schwab does this, but I don't have  a brokerage account there. You'd seriously kill me over how much money I've given to BOA and their 3% foreign transaction fees over the last  2 years... I'm guessing 1k easy.

Message 1 of 13
12 REPLIES
Established Member

Re: Need a checking account with no foreign transaction fees.

When I applied for NFCU checking, the advisor I spoke with asked me if I have direct deposit linked to the checking account and I told her yes, she upgraded to the E-Checking and I believe she said no foreign transaction fees. This could be for the regular Everyday Checking as well, but I know she told me no fees for the E-Checking account.

 

Someone feel free to chime in if you've heard otherwise with NFCU.

Message 2 of 13
Valued Member

Re: Need a checking account with no foreign transaction fees.

Following



Starting FICO: 590ish
FICOs: EX 681 TU 670 EQ 682 (Pre App Spree 1/11/18)
FICOs: EX 664 TU 670 EQ 693 (2/16/18)
FICOs: EX 667 TU 682 EQ 712 (5/8/18)
Goal: 700's Club

Gardening since February 2018
Message 3 of 13
Super Contributor

Re: Need a checking account with no foreign transaction fees.


wrote:

When I applied for NFCU checking, the advisor I spoke with asked me if I have direct deposit linked to the checking account and I told her yes, she upgraded to the E-Checking and I believe she said no foreign transaction fees. This could be for the regular Everyday Checking as well, but I know she told me no fees for the E-Checking account.

 

Someone feel free to chime in if you've heard otherwise with NFCU.


Went to the Navy FCU website and read the agreement. Assuming I understood what I read there was the following verbage: on Navy Federal Debit Card/GO Prepaid Card/CUCARD/Visa Buxx Card International Transactions—ATM and POS Single CurrencyTransactions made in foreign/international countries and in U.S. dollars 0.8% of the transaction Multi-Currency Transactions made in foreign/international countries and in a foreign currency 1% of the transaction. Did not read anything related to if you wrote a paper check and what the FTF would be (did not see anything but?).

Starting Score: 829
Current Score: 830
Goal Score: 850


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Message 4 of 13
Regular Contributor

Re: Need a checking account with no foreign transaction fees.


@wrote:

I can do a certain amount of direct diposit per month, and I'd like the checking (or savings) account to be free of any annual/monthly fees. 

 

I've hard schwab does this, but I don't have  a brokerage account there. You'd seriously kill me over how much money I've given to BOA and their 3% foreign transaction fees over the last  2 years... I'm guessing 1k easy.


schwab is the way to go, brokerage account is free when it ties to your checking account.

you may check out fidelity too. They are similar features

Message 5 of 13
Established Contributor

Re: Need a checking account with no foreign transaction fees.

Have you considered opening a bank account in the country you most visit?

Message 6 of 13
Member

Re: Need a checking account with no foreign transaction fees.


@wrote:

I can do a certain amount of direct diposit per month, and I'd like the checking (or savings) account to be free of any annual/monthly fees. 

 

I've hard schwab does this, but I don't have  a brokerage account there. You'd seriously kill me over how much money I've given to BOA and their 3% foreign transaction fees over the last  2 years... I'm guessing 1k easy.


Where do you live? as far as I know, Webster Bank N.A does not have foreign transaction fee on their debit card or any ATM fees as well (they refund non-webster bank ATM fees at the end of billing cycle), but it's only for accounts that were opened in their Boston market branches. 

Starting Score: 663EX,664TU, 679EQ
Current Score: 663EX, 667TU, 679EQ
Goal Score: 800


Message 7 of 13
Contributor

Re: Need a checking account with no foreign transaction fees.

On the location front, I am actually not in the US so I'd have to be able to open this account online.  

 

 

So for Schwabb, I see you can open their card without fees, but you must do the brokerage, and that requires $100 monthly deposit. So I guess it'd be a game of direct deposit into it, then taking that $100 out. the question is, can you take money OUT easily back into checking? 

 

  • Low minimum deposit of $1,000 (waived with automatic $100 monthly deposits).5

The $1,000 minimum required to open an account is waived if you set up an automatic monthly transfer of $100 through direct deposit or Schwab MoneyLink® or open a Schwab Bank High Yield Investor Checking® account linked to your brokerage account.

 

 

 

Message 8 of 13
Member

Re: Need a checking account with no foreign transaction fees.


@BM3wrote:

On the location front, I am actually not in the US so I'd have to be able to open this account online.  

 

 

So for Schwabb, I see you can open their card without fees, but you must do the brokerage, and that requires $100 monthly deposit. So I guess it'd be a game of direct deposit into it, then taking that $100 out. the question is, can you take money OUT easily back into checking? 

 

  • Low minimum deposit of $1,000 (waived with automatic $100 monthly deposits).5

The $1,000 minimum required to open an account is waived if you set up an automatic monthly transfer of $100 through direct deposit or Schwab MoneyLink® or open a Schwab Bank High Yield Investor Checking® account linked to your brokerage account.

 

 

 


If the money just simply goes into a cash account with Schwab brokerage without investing, it's basically a regular checking account, so you can easily transfer between your Schwab accounts, Also check with Citi bank, i think they might have an account with no foreign transaction fee as well. 

Starting Score: 663EX,664TU, 679EQ
Current Score: 663EX, 667TU, 679EQ
Goal Score: 800


Message 9 of 13
Regular Contributor

Re: Need a checking account with no foreign transaction fees.


@BM3wrote:

On the location front, I am actually not in the US so I'd have to be able to open this account online.  

 

 

So for Schwabb, I see you can open their card without fees, but you must do the brokerage, and that requires $100 monthly deposit. So I guess it'd be a game of direct deposit into it, then taking that $100 out. the question is, can you take money OUT easily back into checking? 

 

  • Low minimum deposit of $1,000 (waived with automatic $100 monthly deposits).5

The $1,000 minimum required to open an account is waived if you set up an automatic monthly transfer of $100 through direct deposit or Schwab MoneyLink® or open a Schwab Bank High Yield Investor Checking® account linked to your brokerage account.

 

 

 


Just to confirm with you again,

brokerage account is no minium, no fee ever when you linked to Schwab Bank High Yield Investor Checking®

FYI, mine brokerage acct is $0 from day one, since 2013

Message 10 of 13