Transferring money

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at46
Rank: Chile Forum Citizen
Posts: 991
Joined: Fri Sep 20, 2013 6:13 pm
Location: Vancouver/Santiago

Re: Transferring money

Post by at46 » Sat Jan 26, 2019 12:28 am

Britkid wrote:
Fri Jan 25, 2019 9:05 pm
So is Schwab charging the middle rate? I assume this is a North American card provider, I don't think they are available in the UK where I'm from, so I doubt I'd be able to get the card.
I'm pretty sure no withdrawal fee Schwab cards are available only to US residents.

thisisreallycomplicated
Rank: Chile Forum Citizen
Posts: 2057
Joined: Sun Aug 07, 2011 6:25 pm
Location: Coquimbo

Re: Transferring money

Post by thisisreallycomplicated » Sat Jan 26, 2019 4:47 pm

at46 wrote:
Sat Jan 26, 2019 12:28 am
Britkid wrote:
Fri Jan 25, 2019 9:05 pm
So is Schwab charging the middle rate? I assume this is a North American card provider, I don't think they are available in the UK where I'm from, so I doubt I'd be able to get the card.
I'm pretty sure no withdrawal fee Schwab cards are available only to US residents.
Schwab has an international account, that doesn't require you to be a US resident. I'm not sure, but I don't think you have to be a US citizen either.
https://international.schwab.com/public ... country=CI

And that account probably includes the ATM card, but you can call them to make sure. Keep in mind that it's a brokerage account though, and they'll probably close it if you just use it like a bank account.
“Now it’s conspiracy – they’ve made that something that should not even be entertained for a minute, that powerful people might get together and have a plan. Doesn’t happen, you’re a kook, you’re a conspiracy buff!” – George Carlin

at46
Rank: Chile Forum Citizen
Posts: 991
Joined: Fri Sep 20, 2013 6:13 pm
Location: Vancouver/Santiago

Re: Transferring money

Post by at46 » Sat Jan 26, 2019 7:28 pm

thisisreallycomplicated wrote:
Sat Jan 26, 2019 4:47 pm
at46 wrote:
Sat Jan 26, 2019 12:28 am
Britkid wrote:
Fri Jan 25, 2019 9:05 pm
So is Schwab charging the middle rate? I assume this is a North American card provider, I don't think they are available in the UK where I'm from, so I doubt I'd be able to get the card.
I'm pretty sure no withdrawal fee Schwab cards are available only to US residents.
Schwab has an international account, that doesn't require you to be a US resident. I'm not sure, but I don't think you have to be a US citizen either.
https://international.schwab.com/public ... country=CI

And that account probably includes the ATM card, but you can call them to make sure. Keep in mind that it's a brokerage account though, and they'll probably close it if you just use it like a bank account.
Says you need to maintain a USD 25K minimum on that account, which is a bit too much, imo, for someone looking to do no fee withdrawals in Chile :)

PaltaConPollo
Posts: 1
Joined: Mon Jan 28, 2019 11:31 am

Re: Transferring money

Post by PaltaConPollo » Mon Jan 28, 2019 11:40 am

For any UK expats living in Chile, the app-only Starling Bank is a good option if you want a current account with no ATM or transaction fees. I use mine for day-to-day expenses and withdrawing cash from ScotiaBank ATMs with no withdrawal fees and a near-perfect exchange rate, its available to anyone with a UK passport.

MrDuck
Rank: Chile Forum Full Member
Posts: 36
Joined: Mon Mar 05, 2012 6:54 pm
Location: Buin

Re: Transferring money

Post by MrDuck » Mon Sep 02, 2019 10:09 am

I just posted this on another thread, useful for UK and European people...
MrDuck wrote:
Mon Sep 02, 2019 9:40 am
Don't bring cash to Chile, open a UK Revolut Bank account instead (underwritten by Lloyds Bank). https://www.revolut.com/
You'll get the Interbank Rate 0% on currency conversions from GBP to CLP. There are limits on the 0% rate from the ATM per month (2% there after) depending on the type of account you get and local bank ATM charges for foreign client, apparently Banco International doesn't charge up in Santiago...need to look into this a bit more.

I use my Revolut to pay for many things in shops. Oh, you'll not get 0% at the weekends as the currency market will have changed by the time it is processed Monday morning, not sure what it is but it's fair enough. I'm really impressed by Revolut, had a second card sent to me the other week here, loads of options from the phone app, freezing/unfreezing cards, apply limits... can have a virtual card, one use cards if you want. If you need help they operate via message in their phone app, I found you had to wait for an agent on the free account, on my Premium account it's faster.

BTW, I convert from my GBP account at 0% into my USD account in Revolut (there's loads of different currency's you can hold money in with them but unfortunately nothing for Chile or South America, they also deal in Crypto currency's), then us Lloyds International account from the Isle of Man to transfer to my wife's account paying ALL associated changes so the wife gets the full amount and isn't charged by the Banco Chile all for £20, otherwise Banco Chile piles on a huge charge just to process it! I need to a better bank than Banco Chile, they charge 2% on conversions to CLP....

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