Prosperity and Banking While Traveling in Bali

Before I left the US, I called my bank to see how much I would be screwed over (I am SO yoga) when using my ATM card in Bali. The damage? The local ATM fees, $5 charge per transaction by my bank AND a 3.5% international transaction fee! What?

Napoleon Hill’s Third Law of Success is “The Habit of Saving.” I know he meant saving a portion of ones income, but I am pretty sure he also meant saving your money by not totally throwing it down the Bali pot.

After searching around for better options and reading reviews, I decided upon Charles Schwab. Charles Schwab is an online bank, with FREE checking, no international ATM fees, no international transaction percentage fees AND…get this…at the end of the month they refund any and all fees you get charged by ATM machines anywhere in the world.


To add a little icing on the rice cake, I can get a hold of a live human being anytime that I need to and not only are they friendly, so far everyone I have ever talked to has been a fabulous conversationalist. Obviously they have read Napoleon Hill’s ninth law about having a pleasing personality!

The only downfall of Charles Schwab is that it is an online bank, so you can’t just go down to the corner and deposit your check. BUT, you have all kinds of options, mail your check, set up direct deposit with your employer (gasp!), set up all your passive income generated cash flow from Paypal to the account (do people still use Paypal?), send a wire transfer and last, but not least set up a connection with your current bank to transfer funds via Schwabs online banking service, which is what I do. This works quite well for me. I have a business account at my bank which has free checking, I deposit my money in there and then hop online and transfer my funds over to Schwab.

A quick side note. I don’t think I had to show proof of a damn thing to set up a business account in my own name at my traditional bank and aside from a free checking account, I get all kinds of other free goodies…including a special lane for business account holders, allowing me to pass up all the other people waiting in line after work on a Friday!


Today’s lesson in a nut shell: Stop paying so much to use your own money.

The Wandering Yogi

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