Capital One Bank Card

vastberaden wrote:

Does anyone in Saigon use a Capital One debit card? Please share your experiences such as atm fees and surcharges.

Thanks,
Vast

Wow! It's been about 8 years since your first post was moderated:

expat.com/forum/viewtopic.php?id=296474#2028689

Anyway, if you would use the forum search function for "ATM" you would find many different threads on the subject.

If you go to this thread and then scroll down to the most recent post in 2018, you'll find some info specific to a certain kind of Capital One card:

expat.com/forum/viewtopic.php?id=195309&p=2

Hi Ocean,

Yes it's been quite a while. Thanks for pointing me in the right direction regarding debt cards and atm's. Unfortunately banking between Vietnam and the US has become more and more of a challenge. I had HSBC for years but they just recently ceased individual consumer accounts in the US. I opened a new Citibank account online only to learn Citibank Vietnam will also be ceasing operations. Any suggestions regarding international banking between the US and Vietnam would be appreciated. I'm basically looking for a bank that I can have my salary deposited in the states and a fee free debt card to withdraw money here.

Thanks,
Vast

vastberaden wrote:

Hi Ocean,

Yes it's been quite a while. Thanks for pointing me in the right direction regarding debt cards and atm's. Unfortunately banking between Vietnam and the US has become more and more of a challenge. I had HSBC for years but they just recently ceased individual consumer accounts in the US. I opened a new Citibank account online only to learn Citibank Vietnam will also be ceasing operations. Any suggestions regarding international banking between the US and Vietnam would be appreciated. I'm basically looking for a bank that I can have my salary deposited in the states and a fee free debt card to withdraw money here.

Thanks,
Vast

Charles Schwab checking account debit card meets those requirements.

vastberaden wrote:

Hi Ocean,

Yes it's been quite a while. Thanks for pointing me in the right direction regarding debt cards and atm's. Unfortunately banking between Vietnam and the US has become more and more of a challenge. I had HSBC for years but they just recently ceased individual consumer accounts in the US. I opened a new Citibank account online only to learn Citibank Vietnam will also be ceasing operations. Any suggestions regarding international banking between the US and Vietnam would be appreciated. I'm basically looking for a bank that I can have my salary deposited in the states and a fee free debt card to withdraw money here.

Thanks,
Vast

If you can manage to open a Schwab One account, that's your best bet as far as I'm concerned.

No fee checking, all ATM transaction charges (not things like checking your balance) are rebated at the end of the month, and no foreign transaction fees when using the Visa debit function of the card.

And you can have a mailing address in Vietnam but your residence address has to be in the United States.

And you'll have to submit the paperwork through the US postal service as if you're actually there.

There are ways around that if you have a relative or a friend in the states who's willing to help you.

If you have $25,000 on hand you can deposit that into a Schwab International account, but I'm not sure if they accept residency in Vietnam when you open the account.

There was some talk about that in that other thread.

GoodOleBoy (sp?) may be able to give you better info on that because if my memory is correct, he has one of those international accounts.

Thanks Pogi,
I'll check it out.

Hi Pogi,

Have you used the Charles Schwab checking account debit card in Saigon? If yes did you incur any fees from the ATM owner, if yes did Schwab cover those charges as well?

Thanks again,
Vast

Capitalone Credit card for 20 years, never a problem here. Also an Amazon Chase credit card which I used as backup when my Capone card expired, no problemo. You don't even need to inform the bank when you travel any more.

Schwab debit has worked beautifully. There is no reason to have a Vietnamese bank (like you mentioned an international HSBC or CItibank. There is no such thing as international banking anyway, Citibank or HSBC here is Vietnamese, you would have to link your account to a US bank.

Schwab is my base for direct deposit, also IRA, brokerage. Easy to pay credit card bills online. I use a US address and google phone number, no bank in Vietnam. Most ATM machines work here. The Schwab debit limit is $1000/day withdrawal. HSBC lets me take that out with several transactions, at least the ATM in Saigon D7, not the one in D1, only $350 on that one last time I went.

Lately bc chinese virus, I have just been wiring dollars from Schwab to my wife's Vietnamese bank "dollar account", the fee is only $10 now, and it is near instantaneous.

Capitalone debit probably works fine, but check the fees. Nerdwallet.com compares various banks on diff metrics.

vastberaden wrote:

Hi Pogi,

Have you used the Charles Schwab checking account debit card in Saigon? If yes did you incur any fees from the ATM owner, if yes did Schwab cover those charges as well?

Thanks again,
Vast

I'm not Pogi, but I've had Schwab checking/debit card for 25 years. You always pay the outrageous ATM fee, just accept the question on the machine, but they always reimburse it. In any country even those sketchy slot machine-ATMs at convenience stores. There will be a debit on the withdrawal day, and a later credit on your statement.

Schwab has no foreign exchange fee, and the foreign exchange rate is the same that you see on XE.com on the day that they prepare the bill: I checked it on my statement one time. There are other cards but many US expats on this forum use Schwab. Compare cards on nerdwallet.com.

Gobot,

Thanks for the info!

Vast

vastberaden wrote:

Hi Pogi,

Have you used the Charles Schwab checking account debit card in Saigon? If yes did you incur any fees from the ATM owner, if yes did Schwab cover those charges as well?

Thanks again,
Vast

Yes previously in Saigon. I'm in Cambodia right now also using it everyday. Never any charges. Any ATM charges are reimbursed.
Works great for me.

Great, thanks!

On the Chales Schwab account for this purpose, is it the CS checking account with brokerage account together or the CS One (International) account like Ocean mentioned?

Wiinnddyy wrote:

On the Chales Schwab account for this purpose, is it the CS checking account with brokerage account together or the CS One (International) account like Ocean mentioned?

You get both. You don't have to fund the brokerage account.

vastberaden wrote:

I opened a new Citibank account online only to learn Citibank Vietnam will also be ceasing operations.

Do you have a link to verify this statement.  We have money in Citi VN but hve had no communication.  However hard copies go to my mother-in-law's house and she moved recently.

Wiinnddyy wrote:

On the Chales Schwab account for this purpose, is it the CS checking account with brokerage account together or the CS One (International) account like Ocean mentioned?

The "Schwab One" account is the US domestic account

Schwab International account is... international (with $25,000 minimum)

Both include checking and brokerage accounts.

No minimum funding requirement for Schwab One, although the phone rep will recommend at least $100.00

After that, the balance can be as low as $0.00.

As was said, you don't need to fund the brokerage account unless you want to do an international wire transfer, which must be sent from the brokerage account.

Currently the charge has been $15.00 per wire transfer (the international account has free wire transfers).

Thanks, Sounds like Schwab is the best option.

I used my CapitalOne debit card while in Vietnam.  Many of the HCMC bank ATMs charged fees with that card, but a few did not.  I was using TPBank when I was living there last year with no fees at either end.

I opened the Charles Schwab account and I'm just waiting for my new debit card to arrive. I'll give an update once I have an opportunity to give it a try.

What is the Charles Schwab ATM daily limit in VN?

I believe it's $1000

Wiinnddyy wrote:

What is the Charles Schwab ATM daily limit in VN?

Cash withdrawal $1000, purchases $15000 daily.

Wiinnddyy wrote:

What is the Charles Schwab ATM daily limit in VN?

You can find all of the information that you need about a Schwab account online.

I'm not going to post the link because in general it's against forum policy to promote business links.


You can call them and request changes to your limits and they will consider them, depending upon your account history and status.

I have called them a number of times toll-free using SKYPE from Vietnam.

One time I requested that they raise my daily ATM limit to $2,000 and they approved it.

After finishing that trip I called them back and had them lower it back to $1,000.

I also had them lower the daily purchase limit to $500.

In case I were to ever lose the card, I didn't want anyone to have access to so much purchasing power out of my checking account, and I knew that I would rarely if ever need it to be higher in Vietnam.

Also the app and email alerts work very well, so in case you were to lose your card but you didn't know it, you would immediately know if it were being used.

Unless you also lost your phone...

Wiinnddyy wrote:

What is the Charles Schwab ATM daily limit in VN?

The limits on the international account are higher.

I have both cards. I have a capitol one 360 checking account and a Charles Schwab checking account which is coupled with the brokerage account which I don't use. I have had no problems using either card anywhere in Vietnam. The difference is that Schwab pays back ATM fees at the end of each month with deposits to my account while Capitol One does not. I have had the Schwab card refused/declined when I did not see a travel notice and then received a potential fraudulent charges text message. Capitol One does not use travel  notices at all. A nice positive is to link the accounts together so ACH fund transfers can be done. I found it also works well with Google Voice numbets set as my account phone number for both accounts. Both of the online banking apps on my iPhone are well done but I prefer the CapitolOne app. It just seems more polished but Schwab works very well too. I used the cards in Cambodia, Laos, Thailand, Singapore, etc and also in Mexico where I live now. They both work very well.

mpmilestogo wrote:

I have both cards. I have a capitol one 360 checking account and a Charles Schwab checking account which is coupled with the brokerage account which I don't use. I have had no problems using either card anywhere in Vietnam. The difference is that Schwab pays back ATM fees at the end of each month with deposits to my account while Capitol One does not.

That can be a big difference, depending on how much cash (Việt Nam đồng) you spend per month.

I've experienced multiple months in Việt Nam (usually while traveling domestically) when my monthly rebate of fees was close to $60.00 USD.

I easily saved about $600.00 per year, on average.

Definitely true OB. I only use the Schwab account because of the ATM fee refunds. I have had an issue where the card became flagged for some transaction because of operator stupidity and I had to use the 360 card until I got the replacement card. This happened in Hanoi once and it was painful. Also happened again when I was living in Puerto Vallarta. Now my new approach is to simply lock the cards all the time, go to bank or ATM and unlock, withdraw cash, then lock them again. The cards can be locked using the mobile banking apps.

I think I probably got about $30 to $40 in refunds in a month. I never thought pho, banh mi, tacos, and beer could be so expensive. I should go to Bia Hoi more I guess ;-)

mpmilestogo wrote:

I have both cards. I have a capitol one 360 checking account and a Charles Schwab checking account which is coupled with the brokerage account which I don't use.

That's my combo too!
Debit main: Schwab Bank. I use the brokerage accounts, work fine.
Debit backup: Capitalone 360 Checking.  I keep a $1000 balance for no fees, I might have used it once in 4 years.

Credit main: Capitalone Venture 2% back. They email a payment reminder.
Credit backup: Amazon Chase 2% back.   Doesn't send reminders! grrr Had to set my calendar.

Gotta have backups.

In stores/restos I always pay in the local currency, never in dollars, because businesses will jack up the USD conversion rate so they don't lose later.