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forex ATM withdrawals now that Marriott Visa is nearing last leg?

  • Last Updated:
  • Jan 15th, 2018 11:16 pm
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[OP]
Member
Jan 30, 2013
490 posts
51 upvotes
RICHMOND HILL

forex ATM withdrawals now that Marriott Visa is nearing last leg?

i used to preload my Marriott visa and draw foreign notes from ATMs on arrival.Marriott Visa charges only 1% handling fee, and almost no forex fee(usually+ 2.5%-3.5% depending on banks)
Now that marriott is closing their visa cc.
Are there any card that lets you do that?
I have Rogers cc but it is not a good preloading option.
5 replies
Deal Addict
User avatar
Jan 9, 2011
1791 posts
1169 upvotes
Vancouver
goldenball wrote:
Jan 15th, 2018 8:21 pm
Can the Hsbc Premier World Elite work???
http://www.hsbc.ca/1/PA_ES_Content_Mgmt ... s-fees.pdf
Sure, if you have a spare $100,000 kicking around that you can invest or deposit with HSBC, which is a requirement to get that card.

I'm just curious what US bank's ATMs you used to get cash advances? How do you find ones that don't surcharge you?
Sr. Member
User avatar
Apr 5, 2009
945 posts
329 upvotes
Toronto
Something that's almost perfect, but unfortunately available only in the US is a Charles Schwab brokerage account, like what you get when you apply through https://www.schwab.com/public/schwab/nn ... spect.html (that's not a personalized link, I don't get any kick backs). It's non-intuitive because it's not a regular bank account, but it does have the option of requesting a debit card (Visa network) and as with any brokerage, you can just keep cash in it, so you can treat it as a sort of bank account.

Pros:
  • Does not charge any ATM fees worldwide.
  • Reimburses fees charged by the ATMs themselves. This works about 95% of the time, but there was one time an ATM did not code the fee correctly and it did not get reimbursed.
  • The forex fee based on my actual experience is less than 1%.
Cons
  • Requires a US-based bank account for funding. You could wire money in as well, but that's expensive so what's the point.
  • Requires an ITIN or SSN, and a US-based mailing address available too.

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