ATM fees can add up fast when you travel full-time internationally. After trying a few different banks, the two ATM debit cards that have worked best for me are the Charles Schwab debit card and the Fidelity Cash Management debit card. This post isn’t sponsored. It is just my honest advice from my experience. I’m not affiliated with Schwab or Fidelity, and I don’t earn any commission from recommending them.
Why I Use Schwab and Fidelity for International Travel
- No ATM Fees and No Foreign Transaction Fees: Both Schwab and Fidelity cards come without any ATM fees and foreign transaction fees. This means you can withdraw cash from any ATM abroad without extra charges on top, which is a major plus for long-term travelers.
- Free ATM Fee Reimbursement: One of the biggest perks is that Schwab and Fidelity both offer free ATM fee reimbursement. If the local ATM charges a fee, they give it back to you. Schwab reimburses the fee at the end of the month, and Fidelity reimburses it a few days after the transaction posts.
- No Maintenance Fees or Minimum Balance: With these cards, there’s no monthly maintenance fee, and you don’t have to maintain a minimum balance. This takes the pressure off, especially when you’re on the go and don’t want to worry about keeping a set amount in your account.
- Simple Lock/Unlock Feature for Security: Both Schwab and Fidelity offer a lock/unlock feature that you can control through their apps. After you use the card, you can lock it immediately through the app, giving you an extra layer of security and peace of mind.
- Reliability Around the World: These cards work in most places, and they use the Visa network which is widely accepted worldwide. I have not had any trouble accessing cash in the countries I visited. That level of reliability really helps keep things simple and stress free.
Why I Recommend Getting Both, Not Just One
It is always better to have two cards from different banks. If one bank has system issues, you still have another card from a completely separate institution. It is also important to have a backup card in case one gets lost, stolen, or flagged for fraud. Replacing a card while traveling is a hassle, and even if the bank agrees to send a new one to your temporary address outside the United States, it can take at least one week to arrive. Having two cards removes that stress and keeps your travels smooth.
Why I Recommend Using These Cards for Just ATM Cash Withdrawals and Nothing Else
I suggest using these cards only to take out cash from ATMs and NOT for purchases or any other ATM transactions. When you travel, debit cards carry more risk if something goes wrong, like fraud or a compromised machine, so it is safer to keep them only for cash access. I always lock my debit cards right after I finish withdrawing cash. The bank apps on my phone let me lock and unlock the cards instantly, which gives extra peace of mind.
For everyday spending, I use credit cards whenever possible because they offer better protection and also earn points. I also have a post where I talk about my favorite credit cards for travel if you want to learn more. Click here for more details.
Important Tip: Always Reject the ATM Conversion Offer
When using ATMs abroad, you might be offered a conversion to your home currency. Always REJECT this and withdraw in the local currency instead. This ensures your bank handles the conversion, usually at a much better rate than the ATM offers.
The same idea also applies when using credit cards. Some merchant machines will offer to charge you in your home currency. Always choose the local currency of the country you are visiting. This avoids inflated conversion rates