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post #11 of 23 Old 09-27-2009
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We have stopped using our Citi bank card as they charge both an exchange fee and a foreign transaction fee. We now use a "world card" on our Morgan Stanley accounts + have an account with Orco (N.A. bank) for our St. Maarten place.
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post #12 of 23 Old 09-27-2009
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Originally Posted by xort View Post
Honorably discharged after 4 years. Does that count?

Call them up, it should cover it. They don't advertise it but I pretty sure as long as you've served your allowed to join. They have a good web site. They're also very handy when it comes to paying your bills.

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post #13 of 23 Old 09-27-2009
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Originally Posted by labatt View Post
Just make sure whatever bank you go with doesn't charge fees for "currency exchange" when you use your credit or debit card. We use HSBC, which is an international bank, and got a world card with no fees for outside the US use.
You can probably do this same thing by using two banks, one in the U.S. and one in the country you are in. Basically you would transfer $us currency from your U.S. bank to a brokerage account, make a forex trade on your brokerage account (converting to a foreign currency) and then do another transfer from your brokerage account to the foreign bank account. That is probably the best way to cut down on transaction fees, by doing the conversion yourself because then your "fee" is the brokerage commission on the forex trade which can be very low. This strategy also has the added bonus of allowing you to keep money in either $us or whatever foreign currency your other bank deals in, gaining or losing money due to currency exchange rates and allowing you to purchase certificates of deposit in the foreign country which may have higher interest rates than in the U.S.

Edit - would only work with the major currencies of course, you probably can't trade the Argentine Peso, for example, but you could probably trade the Brazilian Real.

What are you pretending not to know ?

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Last edited by wind_magic; 09-27-2009 at 01:43 PM. Reason: sp
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post #14 of 23 Old 09-27-2009
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Xort, just send me all your money! When you need money along the way give me a call. Maybe, I will get back to you.


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post #15 of 23 Old 09-27-2009 Thread Starter
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post #16 of 23 Old 09-27-2009
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I use the local bank I had before retiring. (Doesn't hurt that I know the head of customer service!) I use a Visa debit card from my bank (which refunds ATM fees) which is acceptable anywhere the credit card is. And yes, they have online banking. You don't have to go with the "big" guys.

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post #17 of 23 Old 09-27-2009
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Smile Banking choices

Hey Xort,

I have to post a few more postings so I can reply to your email.
So here is one.

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post #18 of 23 Old 11-06-2009
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Quote:
Originally Posted by danjarch View Post
Xort, If your military or exmilitary then check out USAA, They're based in Texas and have a great online banking setup. Including being able to scan in deposits and covering most fees since their main focus is online rather then phisical branches. The only trouble is that you have to military or family of military who have an account with them. They also have really good auto insurance but not boat insurance. They go through progressive for that.
I just received notice from USAA indicating they are expanding their eligibility requirements: "USAA membership is now open to anyone who has honorably served in the U.S. military." So if you didn't qualify in the past, you may now.

Also, the Navy Federal Credit Union (navyfcu.org) is another low-cost nationwide banking option to consider if you qualify.
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post #19 of 23 Old 11-06-2009
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Xort, If your military or exmilitary then check out USAA, They're based in Texas and have a great online banking setup. Including being able to scan in deposits and covering most fees since their main focus is online rather then phisical branches. The only trouble is that you have to military or family of military who have an account with them. They also have really good auto insurance but not boat insurance. They go through progressive for that.
Another vote for USAA.

If you have an IPhone, they have a great app. You can even use the phone to make deposits.

I've worked for 5 different banks on the retail side, and I think USAA is heads above any one I've worked for as far as an online presence.

Last edited by alwheeler98; 11-06-2009 at 10:39 AM.
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post #20 of 23 Old 11-10-2009
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Quote:
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Honorably discharged after 4 years. Does that count?
Yes, if you were honorably discharged. Check out the qualifications page at:
https://www.usaa.com/inet/ent_utils/...s_usaa_for_you
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