Charles Schwab foreign transaction fees: Complete guide

Charles Schwab is well known for its investment and brokerage services. But it also provides a zero-commitment personal checking account that comes with a debit card.

In this guide, we’ll cover Charles Schwab international fees for checking and brokerage account holders. When you spend abroad, whether it’s a debit card purchase, a withdrawal at a foreign ATM, or a swipe of a credit card, you’ll know the fees and exchange rates involved.

We'll also introduce the Wise account, which allows you to send, spend, and receive your money across the globe in over 40 currencies – all at the fair mid-market rate.

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Table of contents

Does Charles Schwab charge foreign transaction fees? Which Charles Schwab cards have foreign transaction fees? Charles Schwab debit card fees Charles Schwab credit card fees Everywhere money. Meet Wise: the world's most international account How do I avoid foreign transaction fees? Charles Schwab cards with no foreign transaction fees What are Charles Schwab's international ATM fees? Charles Schwab international exchange rates Tips for using ATMs and cards abroad

Does Charles Schwab charge foreign transaction fees?

Among its peers, Charles Schwab foreign transaction fees are notably favorable. It all starts with the Schwab Bank Visa® Platinum Debit Card, which reimburses ATM fees worldwide and charges no foreign transaction fees.¹

The Platinum Debit Card comes with every Schwab Bank Investor Checking™ account. There are no minimums or fees on the checking account. When you sign up, Schwab opens a brokerage account alongside it that you aren’t required to use.¹

Charles Schwab members can also apply for two exclusive American Express® credit cards. One of these has no foreign transaction fees — though it comes with a hefty annual fee.¹

Which Charles Schwab cards have foreign transaction fees?

Charles Schwab offers three cards: a debit card for its Investor Checking account and two credit cards through a partnership with American Express.

Lucky for members, there is no Charles Schwab debit card foreign transaction fee. The credit cards are more nuanced.

Charles Schwab debit card fees

The Schwab Bank Visa® Platinum Debit Card is where the Charles Schwab “no foreign transaction fee” reputation comes from. This debit card for all Investor Checking account holders charges no foreign transaction fees on purchases.¹

Charles Schwab credit card fees

Charles Schwab does not issue credit cards. However, through a partnership with American Express, owners of Schwab One® or a General Brokerage Account or another eligible Charles Schwab investment account³ can apply for one of two credit cards.²

One of these credit cards has no foreign transaction fee but comes with a high annual fee. The other has no annual fee but charges an industry-standard fee on foreign transactions.²

Card	Foreign transaction fee	Other fees
Schwab Investor Card® from American Express⁴	2.7% after conversion to USD	None
The Platinum Card® from American Express Exclusively for Charles Schwab⁵	None	695 USD

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How do I avoid foreign transaction fees?

For Charles Schwab members looking to avoid foreign transaction fees, the simplest method is to use your Platinum Debit Card when possible. But you might run into the daily purchasing limit of 15,000 USD if you’re wanting to make a larger transaction.⁶

In this case, a wire transfer might make sense for sending larger volumes in a foreign currency. You can send an international wire transfer through your Charles Schwab brokerage account but not your checking account.⁷ Unlike a debit card purchase, the fees are a little high.

Still, it’s not hard to avoid Charles Schwab foreign transaction fees if you have money in your checking account to cover foreign debit card purchases.

If you’re traveling in places where you’re needing to spend cash, then taking out as much money as possible during every ATM visit is a good way to limit fees.

Charles Schwab cards with no foreign transaction fees

The Schwab Bank Visa® Platinum Debit Card is the “no foreign transaction fee” Schwab debit card. It’s also the only debit card that Schwab Bank offers.

The Platinum Card from American Express, a credit card offered exclusively to Schwab members, also carries no transaction fees. But for many, the annual fee and need to qualify may put this option out of reach.

What are Charles Schwab's international ATM fees?

More good news for traveling Charles Schwab account holders: Using the debit card at a foreign ATM will cost you no extra foreign transaction fees. It’s as affordable as swiping your debit card.¹

What’s more: Charles Schwab reimburses all ATM fees that you incur anywhere in the world, without limit. So you can walk up to an ATM in any country with confidence that your Platinum Debit Card will refund whatever service fees come with your withdrawal.¹

Watch out for a service called dynamic currency conversion (DCC), which a foreign bank may offer you at the point of withdrawal.

Dynamic currency conversion might seem convenient or affordable when the ATM presents the service to you. Banks offer to do the currency conversion for you and charge your bank in USD instead of the local currency.

For Schwab members, it’s more important than ever to reject this service, because Schwab won’t reimburse those conversion fees — even when they provide a rebate for any other ATM fees that you incur.¹

But all travelers using ATMs usually get a poor exchange rate and pay unnecessary fees when they accept DCC.

Charles Schwab international exchange rates

When you swipe a card or use an ATM outside of the country, a foreign transaction fee is just one of the charges you pay. Even though Charles Schwab foreign transaction fees are often nonexistent, you’re still paying a premium for international currency exchange.⁶

These other fees don’t appear on your statement. Instead, they’re layered into the foreign exchange rate that various banks and intermediaries use to convert your money. This might include Visa® when you swipe your debit card or the banks that belong to the ATM network you’re using.⁶

On top of that, Charles Schwab maintains the right to make adjustments to these rates.⁶ So the simple conversion rate that you’d find on Google, which is called the mid-market exchange rate, is not the one you can expect to pay.

Wise can help you get a better deal on currency conversion. You can convert over 40 currencies at the standard mid-market exchange rate, and we'll show you the fees upfront so you know exactly how much you're paying.

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Tips for using ATMs and cards abroad

If you have a Charles Schwab Investor Checking™ account, you’ll save the most money traveling abroad by using your debit card as much as possible. Where you have to use cash, you don’t have to worry about which ATMs you use, because the fees will be the same: zero.

Still, if you’re carrying another debit card that you have to use, it may help to do research on which banks in the country you’re visiting offer the lowest fees. And if you’re spending with multiple cards, make sure you know the foreign transaction fee for each one, because rates can vary.

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The Platinum Debit Card from Charles Schwab’s Investor Checking™ account helps you nearly eliminate foreign transaction fees. There’s no fee on purchases abroad nor fees on ATM withdrawals. The only fees you pay come out of the exchange rate.

When you withdraw money or make a purchase in a foreign currency, your bank processes the conversion for you. And they take a margin called a “markup” on the standard mid-market exchange rate to cover costs.

For low rates and smooth service, use Wise for international banking.

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Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information

Sources

1. Schwab - Checking
2. Schwab - The Charles Schwab Cards from American Express
3. Schwab - Eligible Schwab Accounts
4. Schwab - Investor Credit Card Terms, Conditions & Disclosures
5. Schwab - Platinum Debit Card Terms, Conditions & Disclosures
6. Schwab - Visa Debit Card Agreement
7. Schwab - Investor Checking Features, Rates & Fees

Sources checked 09/15/2025