Sep 24 (edited) ā¢ Info Hub
š§³ 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.
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Pros for Expats in Paraguay
- ATM rebates ā Any fee you pay at a Paraguayan ATM is refunded monthly.
- No FX fees ā Card charges in guaranĆ have no extra 2ā3% surcharge.
- $0 U.S. stock/ETF trades ā Easy way to keep investing abroad.
- No minimums, no monthly fees ā Open with any amount.
- Strong protections ā FDIC insurance for cash, SIPC for investments.
ā ļø Cons to Watch Out For
- Eligibility check ā Paraguay is currently supported, but availability may change.
- Delayed ATM rebates ā You pay upfront; refund comes later.
- Not a local bank ā Canāt pay bills in guaranĆ; still need a PY bank account.
- Foreign exchange costs ā Conversion uses Visa rates; no rebates for Dynamic Currency Conversion (DCC).
- Card shipping ā Replacements may take time in Paraguay.
š Requirements
- U.S. citizens ā Passport + SSN + proof of Paraguayan address.
- Non-U.S. citizens in Paraguay ā Passport + cĆ©dula (or RUC) + proof of address.
- Online application takes ~15 minutes. Upload scans and wait for approval.
š” Pro Tips
- Always decline DCC at ATMs (donāt let machine ācharge in USDā).
- Pair with a local bank for bills and guaranĆ expenses.
- Use Schwab for cash access + investing, Meru/UZPay as optional fintech bridges.
- Keep a backup card in case of delays.
āØ 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 guaranĆ, and youāll cover all bases.
Full Article here: Complete Guide Charles Schwab International
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š§³ Quick Guide: Charles Schwab International Account for Expats in Paraguay
