Hi,
I am living in Paraguay and looking into opening a US bank account.
I already have a Charles Schwab One international account for investing and was told that it is possible to apply for a visa card for this account. Is anyone here using this setup? If I apply for the Visa Card, do I get more features in my account, similar to a checkings account? How can i transfer funds in/out of my account?
Thanks!
Short answer is no. In some US bank verification to open a standard US checking account online they asked me to link to another bank, Scwab and Wise did not work. You can oder the card, you can receive the money, but I don’t think you can send money to other people, but I did not check this feature. So videos are blog posts saying open a US checking account in the US with international Swab are BS.
Only choice so far is to get a real residential address at https://www.virtualpostmail.com/pricing/truresidence/ for $250/month if you pay a year in advance plus $400 of lease contract one time fee… or every year. Terrible. Or you can rent a studio, or room and get a utility on your name. Otherwise no card and no us bank account. At the moment I am stuck with Wise and Schwab card. https://www.alliantcreditunion.org/ is flexible but you have to use your foreign address with proof of address or a real residential address with proof of address