How to Save Foreign Transaction Fees, ATM Fees and Credit Card Fees and More !!!

[journeytheworld]

People. Steve has good tips. Listen, he is here to help. Like the tip on locking your card before receiving it.

[yeahrightmate]

I have been here in the Philippines for over 10 years now and I have found the best way is to pay to myself online through Western Union which is very cheap or even free, from my bank back home to pick up here, or into my Filipina wife's bank account. PS I have always found Western Union are always the best exchange rate as well.

[williamdk]

Nice video as always.
I will add a couple of comments. I live in Denmark, Europe and this may not apply in the US or Philippines.
- the cheap withdrawal cards are normally more expensive in exchange rates. Always compare how much you pay one way or the other.
- when using a credit/debit card and asked if you want be charged in pesos or your own currency, always take the pesos option, it's way cheaper. This is an old trick almost all shops use, they apply a more expensive exchange rate and pocket the difference from what they pay to your bank. Any bank in Europe will always advise you to be credited in the currency of the country you are visiting. As I said, I don't know if this applies to dollars/pesos transactions but I can't see why it shouldn't. And believe me, if the shop gives you an option that is not pesos it's because they can earn something from it.
Happy new year to everybody 🎉

[spurlworld]

Happy New years to one of my favorite shows

[reelman]

good information. thanks for the video.

[benjaminortiz]

Great, I made a right choice I opened and transferred some of my $ to Charles Schwab with a debit/Visa card couple months ago Thanks good advice

[scottramey]

Great vid Steven...as you were talking about intl fees I was looking up information and found NerdWallet.com had a good thing on "best of" No Foreign Fee CC 2021...anyway, as usual, job well done...I enjoy when you post..thanks

[justme-sdye]

I finally set up a Transferwise account to send money to my wife's family and dropped Western Union completely. The exchange rate is better, the fee was less than half of what WU charged, and the recipient gets the full amount I sent directly into their bank account. The only issue I have is that my credit union takes two business days to transfer any money to any account (credit card, utilities, etc) and the fact it was a little tricky to set up the Transferwise accounts. Recipient gets the pesos in 30 minutes from the TW account. Will probably do something similar for myself one in the PH permanently.

All that being said, I'm not big on all the eggs being in one basket, so I will be checking out the links, especially Charles Schwab. Oh, and the other nice thing about TW is that you can send to yourself in multiple currencies if you plan on travelling in SEA, or anywhere, really.

[undercoverru]

Definitely check Sm rates when you use credit card because currently thier rates here at sm money exchange is 47.55 an on forex is 48.02 at those rate differences it can really add up

[johnh]

You should look at opening a World Remit account or a Xoom account and transfer money to yourself, both are cheaper than Western Union, and the likes, and the fees / exchange rates are fair. You can send up $10, 000 / P500, 000 per day to most banks or select cash pick up from Hullier or Palawan Express.

[jameslonergan]

I have opened a second checking account/ATM card with my CU. That way if a machine eats a card I have a spare card to get cash. I also have a Xoom and Remitly account that includes a Remitly Passbook ATM card where I can transfer money from my CU. So besides those ATM cards I do have credit cards for emergencies. I would get a PO Box from PhilPost to receive faster mail from the US>

[MSPREPR]

USAA is charging 1 percent fee on atm's overseas now.

[metrucb]

No no no, you always pay in local currency on your credit card....Sorry to correct you but that is traveling 101. When you pay for instance in say US dollar you will pay the conversion fee for instance....Not the transaction fee but the conversion fee...if you say local currency you pay no fee at never pay in US dollars on your credit when or if you make a credit card charge pay in local currency ....you won’t get hit with transaction fee which you shouldnt have anyway and no conversion fee by saying local currency please! 👍👍 but anyway. I agree with most of your views 😊....

[sanjuanlaunionvlog]

I use my Schwab account here! Its great. No fees!!

[Synfulz]

USAA is good for me. Easy to setup and easy transfers. Portion of OS atm fees waived.

[OneGrumpyBastard]

My Capital One cc has no foreign trans fees. They give a great conversion rate and I get 1.5% cash back. In the Philippines I use my credit card whenever possible.

[magickm]

simple solution Steve...I have my social security pension sent directly to my Philippine bank along with my military disability check

[KrayPurn]

USAA is the absolute worst for international travel!!! NFCU covers up to $20 per monthly cycle of ATM fees only. I use Fidelity as my back up card. I dumped any type of credit cards nearly 7 years ago. I would slit my throat b4 ever getting another one. Having your card(s) switched "ON" only during the period in which you are actively making a purchase or withdrawing money is easily a Top 3 travel secret...it takes less than 1 minute on your app to switch it on or off!!!

[dbail]

Hay Steve. See if you can find an ATM in Cavite that will go over the 10k limit. I have had no luck

[LP-Monk]

Good video. When coming over there some vlogs recommend bringing cash with you. Do recommend that too? I don’t carry cash and haven’t in years and years. Wondering what your take on that is. Peace ✌️