Offshore bank account needed
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Schwab asks for 25k for deposit but the min balance you should maintain is 1000$. You can open remotely.
You can withdraw ATM free. They reimburse atm fees at end of month + all foreign transactions are free.
I am using this bank along with my Uk private bank. I use this card for travel as private banks not good for transactions.
You can withdraw ATM free. They reimburse atm fees at end of month + all foreign transactions are free.
I am using this bank along with my Uk private bank. I use this card for travel as private banks not good for transactions.
Hi @niggashit
Is Schwab actually a bank or just a brokerage firm ? Do they provide your own bank account number or make you include a text in a reference message field?
Thanks
They are both. Bank and Brokerage. They are in business since 90's. They provide unique account number and routing number. You can do outgoing wires to anywhere in shitearth for 25$ or $20 fee. Domestic wires inside US is free.
Thanks @niggashit . As per what I see from their "Account funding instructions" (picture attached) they don't seem to provide an unique bank account number. You have to use their pool account in Citibank and then write your investment account number in the reference field.
Am I looking into the right place?
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You looking at wrong place. This instructions are for BROKERAGE ACCOUNT.
They have Checking product which is called Schwab International One High Yield Checking.
Well, As I confirmed my self , you can use this swift code to CSCHUS6SWTS transfer funds into your checking account without any memos.
How To: USD Wire transfer from Schwab brokerage account (e.g. for RSU & ESPP)
How To: USD Wire transfer from Schwab brokerage account (e.g. for RSU & ESPP)
Thanks again. It seems the "Schwab International One High Yield Checking" is only available for US residents. Isn't it?
No. Its called International for a reason.
Required Documents Check List to Open a Schwab One International Account
Hi @niggashit . I've been chatting with Schwab representatives for a while, and they don't seem familiar with wires from abroad. They keep referring me to the instructions published in their site (which are only for brokerage accounts and DO require to send to a bank account in THEIR name and add a memo to the T/T). The link you sent me days ago is for transfers FROM a Schwab account not TO it.
Have you ever sent funds into your account using the following format?
BENEFICIARY NAME: NIGGASHIT
ACCOUNT NUMBER: 12345679
BENEFICIARY BANK: Charles Schwab And Co
SWIFT CODE: CSCHUS6SWTS
Yes, I know 😉
I've been browsing their entire website to see if that SWIFT code (CSCHUS6SWTS) is mentioned anywhere, but I there's nothing about it. All I find is their pool accounts in dozen of international banks, which all requires the use of a memo/reference cry&¤cry&¤
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They do not have it in website. Your personal relationship manager will provide it.
Look their main business focus in Brokerage Industry. Website is crafted such a way.
You can do test transaction if you are not sure lol. Why you cry man? Just apply and boom.
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