ATM fees can silently drain thousands from travel budgets. A comprehensive new guide breaks down the best fee reimbursement options for digital nomads—and they're not all US-exclusive.
The Schwab Standard
Charles Schwab's checking account has long been the gold standard for US-based travelers, reimbursing all worldwide ATM fees. But many international travelers don't realize Schwab International offers similar benefits through brokerage accounts.
The international brokerage is available to customers in most European, Western, and US-friendly countries. While it's an investment account rather than checking, "using any of the investment features isn't required to keep it open," according to a detailed breakdown shared on r/digitalnomad.
Key advantage: ATM fees are reimbursed within 1-2 days when transactions settle, versus end-of-month reimbursement for US checking accounts.
Main drawback: The debit card doesn't support Apple/Google Pay or NFC. The account operates entirely in USD, potentially subjecting users to exchange rate losses when funding or withdrawing.
The Canadian Option
Canadian travelers face a unique challenge—Schwab International isn't available due to regulatory restrictions. Wealthsimple fills that gap with worldwide ATM fee reimbursement on their prepaid Mastercard.
However, like other prepaid travel cards including Wise and Revolut, Wealthsimple blocks usage in certain countries even where Visa/Mastercard are otherwise accepted.
US Alternatives to Schwab
Two other US-based options offer faster reimbursement than Schwab checking:
Fidelity Cash Management and Betterment Checking both reimburse ATM fees within roughly two days.
The guide notes that some users report more account issues with Fidelity compared to Schwab, recommending travelers carry both if possible.
The Backup Plan
No single card works everywhere. The guide emphasizes maintaining "several backup options" since cards can be blocked in specific countries regardless of whether the card network operates there.
Best practice: Carry multiple debit and credit cards with no foreign transaction fees that use Visa or Mastercard exchange rates. Don't rely solely on fee-reimbursement cards.
The Bottom Line
ATM fees seem small per transaction but compound dramatically over months of travel. At $3-5 per withdrawal, hitting ATMs twice weekly costs $300-500 annually in fees alone.
Fee reimbursement cards eliminate that drain entirely. For digital nomads and long-term travelers, they're essential financial infrastructure—not a luxury.
The key is understanding that while these cards are incredibly valuable, they're not foolproof. Geographic restrictions, account freezes, and exchange rate considerations mean smart travelers never rely on a single financial tool.
The best travel isn't about the destination - it's about what you learn along the way. And one of the most valuable lessons is that financial preparation prevents most travel emergencies.
