Schwab Checking/ATM Card - Re-Deposit Unused Cash?

[knick1959]

I talked my coworker-buddy into getting a Schwab checking account and associated ATM card for his upcoming trip to England/Ireland. He just asked me this question, and I didn't know. I had never thought about this angle before! I've always went to a bank to exchange currency or help it until "next time".

You take out 200 GPB. You use 100. Will the Schwab card take a deposit back to your account in 100 GPB cash through an English ATM? Has anyone actually done this before? I'm anxious to try it myself!

 

[Mountain Trader]

For a solid answer, you or your buddy should call Schwab bank.

 

[kellybme]

Your question made me curious so I just went to a USBank ATM and withdrew $20. I then went to make a deposit and it wasn't even an option. I'm guessing if I can't deposit USD at a US bank you won't be able to deposit GBP in England.

 

[Matt]

I'm anxious to try it myself!

Why?

I'm guessing if I can't deposit USD at a US bank you won't be able to deposit GBP in England.

You can. I did it once.

 

[knick1959]

Why?

(Am I anxious to try it myself) ... well, 2 years ago we jumped through some minor hoops moving from the UK to Ireland with surplus GBP, standing in a bank line to swap to Euros. And we carefully timed our Euro spending to minimize holding too much. Would have been much easier just shoving whatever remained into an ATM. We have a trip to Italy in April. Schwab card is already all loaded up, but I WILL try to at least redeposit something, just to see.

You can. I did it once.

Well, great! Reading the web pages for Schwab, it does not mention that this is a way that your card can be funded. I guess tho that cash might be unexpected these days ... for a Schwab customer? Still, I read googled pages that say that their branches won't take cash! We'll see what happens.

 

[knick1959]

Your question made me curious so I just went to a USBank ATM and withdrew $20. I then went to make a deposit and it wasn't even an option. I'm guessing if I can't deposit USD at a US bank you won't be able to deposit GBP in England.

Really. Well, perhaps it's bank specific. I was actually going to try an a Chase ATM but didn't have my card in pocket today. I'll make a point of trying this soon, anyway, just for fun.

 

[Matt]

Well, great! Reading the web pages for Schwab, it does not mention that this is a way that your card can be funded. I guess tho that cash might be unexpected these days ... for a Schwab customer? Still, I read googled pages that say that their branches won't take cash! We'll see what happens.

I was replying to @kellybme to let them know that it is possible to deposit USD in US Bank accounts, though perhaps not a USBank account.

Schwab card is already all loaded up, but I WILL try to at least redeposit something, just to see.

Be mindful that you will pay a vig on the withdrawal and again on the deposit.

 

[kellybme]

Why?



You can. I did it once.

Nice. Do you remember the bank?

 

[kellybme]

I was replying to @kellybme to let them know that it is possible to deposit USD in US Bank accounts, though perhaps not a USBank account.



Be mindful that you will pay a vig on the withdrawal and again on the deposit.

My experience with Schwab is they always reimburse the fee on withdrawal. I have no data points on deposits.

 

[newtoca]

I have a Schwab ATM and on several occasions have used it to withdraw money from an international ATM with reimbursement coming through every single time. I tried depositing some leftover euros at a Santander ATM at Lisbon this past December but could not. This of course might entirely be because of the ATM which was incapable of deposit or it might be because Schwab doesn't let them. Just my data point.

 

[Hplx32]

I've been using the Schwab card for about 7-8 years now. All ATM withdraw fees have been refunded. I just went to Myanmar and used the card and was refunded as well.

When it comes to depositing money, IMO, it is a pain. In my area, I cannot deposit cash at Schwab brick and mortar, I have to bring in a certified check, which will go through that day, or a personal check, which takes 3 biz days. I have not tried to deposit cash at ATMs however.

Just my personal experience.

 

[knick1959]

Update. My friend Eric actually called (er, he might have chatted ... I think he called) Schwab today. The CSR reported that they do not accept cash deposits via ATM. I'll believe that and not bother trying.

 

[twentyseventy]

I've been using the Schwab card for about 7-8 years now. All ATM withdraw fees have been refunded. I just went to Myanmar and used the card and was refunded as well.

When it comes to depositing money, IMO, it is a pain. In my area, I cannot deposit cash at Schwab brick and mortar, I have to bring in a certified check, which will go through that day, or a personal check, which takes 3 biz days. I have not tried to deposit cash at ATMs however.

Just my personal experience.

I've had Schwab for 8+ years - I also keep a national retail bank (WF, BofA) as well so that I can deposit cash and/or get cashier's checks if needed. I just keep $1500 in my current WF account and don't pay any fees on it.

 

[donuteric]

I have a rather small mobile deposit limit and had asked Schwab before if it was possible to deposit via ATM from other banks. They told me no.

It's however possible with some other banks. I deposit to my PNC account using TD's ATM all the time. Many credit unions also share network ATMs with deposit capability.