Saving Big on ATM Fees

ATM fees can easily cost hundreds of dollars, especially when traveling outside of the US. Here is how we save money.

6/23/20231 min read

lighted ATM
lighted ATM

ATM fees can be quite costly, sometimes adding up to hundreds of dollars a month, especially when traveling abroad. When we go abroad, we would find ourselves using ATMs often, and the fees really added up.

However, by getting a debit card with Charles Schwab Bank, we were able to save hundreds of dollars on ATM fees. This is because Schwab reimburses us for fees we incur when using an out-of-network ATM. With this feature, we no longer have to worry about finding an ATM from our bank's network or paying extra fees. As Nick Serati writes for, "The Schwab debit card allows you to take out cash from any ATM anywhere in the world and refunds 100% of any withdrawal or ATM fees you pay." Plus setting up an account was free. It has been a convenient and cost-effective solution for us, as we can withdraw cash from any ATM without any worries. Thanks to Schwab's reimbursement policy, we have been able to keep more money in our pockets and to avoid these expenses.