Sep 24 (edited) • Info Hub
🧳 Quick Guide: Charles Schwab International Account for Expats in Paraguay
- A U.S. brokerage account that lets you invest in U.S. markets.
- Comes with a Charles Schwab checking account and Visa debit card.
- Debit card is famous for worldwide ATM fee rebates and no foreign transaction fees.
✅ Pros for Expats in Paraguay
- ATM rebates – Any fee you pay at a Paraguayan ATM is refunded monthly.
- No FX fees – Card charges in guaraní have no extra 2–3% surcharge.
- $0 U.S. stock/ETF trades – Easy way to keep investing abroad.
- No minimums, no monthly fees – Open with any amount.
- Strong protections – FDIC insurance for cash, SIPC for investments.
⚠️ Cons to Watch Out For
- Eligibility check – Paraguay is currently supported, but availability may change.
- Delayed ATM rebates – You pay upfront; refund comes later.
- Not a local bank – Can’t pay bills in guaraní; still need a PY bank account.
- Foreign exchange costs – Conversion uses Visa rates; no rebates for Dynamic Currency Conversion (DCC).
- Card shipping – Replacements may take time in Paraguay.
📑 Requirements
- U.S. citizens → Passport + SSN + proof of Paraguayan address.
- Non-U.S. citizens in Paraguay → Passport + cédula (or RUC) + proof of address.
- Online application takes ~15 minutes. Upload scans and wait for approval.
💡 Pro Tips
- Always decline DCC at ATMs (don’t let machine “charge in USD”).
- Pair with a local bank for bills and guaraní expenses.
- Use Schwab for cash access + investing, Meru/UZPay as optional fintech bridges.
- Keep a backup card in case of delays.
✨ Bottom Line
For expats in Paraguay, Schwab is the best card for withdrawing cash cheaply and investing in U.S. markets. Pair it with a local bank for daily life in guaraní, and you’ll cover all bases.
Full Article here: Complete Guide Charles Schwab International
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🧳 Quick Guide: Charles Schwab International Account for Expats in Paraguay
