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Schwab and Millenium? Or Wise and Millenium?

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Posts: 31
Premium Member
Topic starter
(@mrsbrabbit)
Eminent Member
Joined: 2 months ago

Bom Dia Todos. Well, the amazing team at Bordr got us our NIFs in less than 5 business days. Shout out to them!

Now...we plan to use Bordr again to open our Portuguese bank account, but should we use Charles Schwab or Wise to transfer funds from the U.S. What have you all done that's worked?

Obrigada,

Anna

32 Replies




Posts: 221
Premium Member
(@jgibson)
Estimable Member
Joined: 8 months ago

I am interested and I’ve had the same question.
Looking forward to some insight and some first-hand experience with Schwab.
We have been using Wise to transfer money to millennium but am interested in possibly opening a Schwab account 

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Posts: 26
Premium Member
(@emergentt)
Eminent Member
Joined: 5 months ago

Too bad we haven't had any responses to this. I have had Schwab (through work) for the last 20 years and they have been very helpful on a number of fronts (setting up Solo 401k, etc. for my business). If I could keep using them, I would be very happy but I know many many things will be different with this move... Gene

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Premium Member
(@jeanne)
Joined: 11 months ago

Estimable Member
Posts: 227

@emergentt    well give Schwab a call and let us all know?

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Premium Member
(@jgibson)
Joined: 8 months ago

Estimable Member
Posts: 221

@jeanne I could give Schwab a call easy enough but I’d like to hear some feedback from some people who have actually used  them not what their sales representative is going to pitch to me

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Premium Member
(@jgibson)
Joined: 8 months ago

Estimable Member
Posts: 221

@emergentt Thank you for your reply

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Posts: 193
 Bert
Premium Member
(@bert)
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Joined: 1 year ago

The answer is different for everyone. You can use either and depending on your preference is how many choose. If you already have Schwab it is very easy to go to the site online and/or contact a representative to find out the $ rate for transfer. Depending on the currency in which it is sent you may or may not have a bank charge on the other end. You can inquire regarding Schwab conversion rates and compare to Transferwise if that is what you have been using. The wire fee for Schwab is $15. Then you are able to make a decision based on your comfort zone and not what everyone's opinion is on this webstie. 

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Premium Member
(@emergentt)
Joined: 5 months ago

Eminent Member
Posts: 26

@bert Excellent advice. Thanks. I don't need to transfer money for many months but when I do, I'll probably just use Schwab out of convenience/comfort if it's about equal rate wise... appreciate the insight. Gene

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Posts: 48
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(@cindyb)
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Joined: 4 months ago

One of the things I like about my Schwab account is the no foreign ATM fees feature. The exchange rate I have been getting on ATM withdrawals from them has been pretty good.

Transferring from Schwab to Millennium is easy peasy.

Hope that helps some.

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Premium Member
(@jgibson)
Joined: 8 months ago

Estimable Member
Posts: 221

@cindyb Helpful insight thank you

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Premium Member
(@mrsbrabbit)
Joined: 2 months ago

Eminent Member
Posts: 31

@cindyb This helps a lot! Obrigada. We’re placing our order with Bordr (they are amazing) for a Millenium acct. Visiting  Portugal in November before we land next year. So excited thanks to all the wonderful people in @expatsportugal.

Bom dia Cindy.

Anna

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