Best for Travelers
Charles Schwab Review — Best Brokerage for Travelers and International Use
The best brokerage for travelers — unlimited ATM rebates worldwide
The Speedrun Take
Schwab is Fidelity's closest peer — both are excellent for long-term investing. The single reason most people choose Schwab over Fidelity: the Schwab Bank High Yield Investor Checking account reimburses ALL ATM fees worldwide with no limit. If you travel internationally, this alone is worth $50–$200/year in savings.
$0
Account minimum
$0
Trade commissions
Unlimited worldwide
ATM rebates
0.03%
ETF expense ratio (SCHB)
The ATM Advantage
When you open a Schwab brokerage account, you can also open the Schwab Bank High Yield Investor Checking account alongside it. This debit card reimburses every ATM fee charged by any ATM in the world — the reimbursements post at month end. There are no foreign transaction fees either. A single week abroad at a cash-dependent destination could easily save you $30–$50 in fees that Chase or Bank of America would have charged.
| Bank | ATM fee | FX fee | Monthly rebates |
|---|---|---|---|
| Schwab | $0 | $0 | Unlimited |
| Chase | $5 | 3% | None |
| Fidelity CMA | $0 | $0 | $10 limit/mo |
| Bank of America | $5 | 3% | None |
Best ETFs at Schwab
Schwab's own ETF lineup rivals Vanguard on cost. These are portable — unlike Fidelity's ZERO funds, you can transfer these to another broker if you ever switch.
| Ticker | Exp. Ratio |
|---|---|
| SCHB | 0.03% |
| SCHX | 0.03% |
| SCHI | 0.03% |
| SCHZ | 0.03% |
Schwab vs Fidelity
These two are the closest competition in the brokerage world. Here's where each wins.
| Schwab | Fidelity | |
|---|---|---|
| Expense ratio | 0.03% (SCHB) | 0.00% (FZROX) |
| Zero-fee funds | No | Yes (FZROX/FZILX) |
| ATM rebates | Unlimited worldwide | $10/month |
| Best for | Travelers & expats | US-based investors |
Is Schwab Right for You?
Good fit if you are...
- Frequent international travelers
- Expats living abroad
- People who need foreign currency cash regularly
- Investors who want Vanguard-level ETFs with better banking
- Anyone who hates ATM fees and wants them gone forever
Skip it if...
- US-only investor (Fidelity's zero-fee funds are unmatched)
- Just starting out and want the simplest setup (Fidelity is simpler)
How to Set It Up
Open a Schwab Brokerage Account
Takes about 10 minutes online. Have your SSN and bank info ready. No minimum deposit required to get started.
Add the Schwab Bank Checking Account
During or after opening your brokerage, add the High Yield Investor Checking account. This is where the unlimited ATM rebates live. It links directly to your brokerage.
Fund Your Account
Link your existing bank and transfer funds. First transfer may take 3–5 business days. Set up recurring transfers to automate your investing.
Buy SCHB (and optionally SCHI)
Search for SCHB, buy in dollar amounts. A simple 80% SCHB / 20% SCHI split gives you the entire global market at 0.03% cost — nearly as cheap as Fidelity.
Stack It With
Ready to get started?
Open your Schwab account today
No minimum deposit. Takes 10 minutes. Unlimited ATM rebates activate the moment you get your debit card.
Open Schwab Account