This is the main reason I switched to Fidelity. The downside was the foreign transaction fees but I figured in the long run that was minor. It is nice that Fidelity has definitively taken the lead now (IMO). Doing transaction to move to the MM fund left and right to get a decent interest rate with Schwab was very annoying.I've used the Fidelity debit card the past two summers abroad and used it last December domestically. Every transaction that was charged a bank fee was reimbursed promptly by Fidelity.I just got the notification today. Annoying as I had an overseas trip in November and have another one coming in 2 weeks. I doubt I'll get the card before that. It must have been a very staggered roll out.
Does that mean that now it matches the Schwab debit card (no foreign transaction fees and ATM reimbursements)? I looked at the Fidelity website and it doesn't say US ATMs for reimbursement of fees (I think it did at one time).
I still feel Fidelity had the edge over Schwab since I don't need to have the cash sitting earning 0.5% and can leave it in a Fidelity MMF to earn more interest and they will auto liquidate to cover my ATM transactions.
Statistics: Posted by michaeljc70 — Fri Jan 10, 2025 5:21 pm — Replies 9 — Views 970