Pay no ATM fees worldwide with our popular online checking account.1 There are no monthly service fees, you’ll earn interest on your balance, and your account is FDIC-insured.
What are the fees and minimums?
- Monthly service fees: $0
- Account minimum: $0
What do I get with this account?
- Unlimited fee rebates from any ATM worldwide1
- A 0.06% APY variable interest rate on any balance2
- Free bill pay on Schwab.com and Schwab Mobile
- Apply for Schwab Mobile Deposit™ to deposit checks from anywhere
- Free standard checks and a Visa® Platinum debit card once the account has been funded.
- FDIC insurance up to $250,0003
- A linked Schwab One® brokerage account
- Link to Apple Pay™ to make purchases with your iPhone® 6 or iPhone 6 Plus .
View High Yield Investor Checking Account Features and Fees.4
See client reviews
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1. Unlimited ATM fee rebates apply to cash withdrawals using your debit card wherever it is accepted. ATM fee rebates do not apply to any fees other than those assessed for using an ATM to withdraw cash from your Schwab Bank account. Schwab Bank makes its best effort to identify those ATM fees eligible for rebate, based on information it receives from Visa and ATM operators. In the event that you have not received a rebate for a fee that you believe is eligible, please call a Schwab Bank Client Service Specialist for assistance at 888-403-9000. Schwab Bank reserves the right to modify or discontinue the ATM fee rebate at any time.
2. The Schwab Bank High Yield Investor Checking Account®, with a minimum balance of $0.01, offers a 0.06% annual percentage yield (APY) as of 04/07/2015. This rate is variable and may change without notice.
3. Funds deposited at Charles Schwab Bank are insured, in aggregate, up to $250,000, based on account ownership type, by the Federal Deposit Insurance Corporation (FDIC).
4. For details, refer to the Schwab Bank Deposit Account Pricing Guide and Account Agreement.
The Schwab Bank High Yield Investor Checking Account® is available only as a linked account with a Schwab One® brokerage account. The Schwab One brokerage account has no minimum balance requirements when opened with a linked High Yield Checking account.
Schwab Mobile Deposit service is subject to certain eligibility requirements, and enrollment is not guaranteed. Standard hold policies apply. Requires a wireless signal or Wi-Fi connection.
Charles Schwab & Co., Inc. and Charles Schwab Bank are separate but affiliated companies and wholly owned subsidiaries of The Charles Schwab Corporation. Brokerage products and services are offered by Charles Schwab & Co., Inc., member SIPC. Deposit and lending products and services are offered by Schwab Bank, member FDIC and an Equal Housing Lender.
Apple, iPad Air, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. Apple Pay, Apple Watch, and iPad mini are trademarks of Apple Inc.
App Store is a service mark of Apple Inc
High Yield Investor Checking is rated
Rated 1 out of
ATM Cash Withdrawal
No foreign transaction fee, ATM fees reimbursed worldwide. However, there should be an alerts to the account holder mobile phone or email when the cash withdraw, otherwise, the cash withdraw with notice.
Date published: 2016-07-20
Rated 5 out of
Best Banking Account Ever
No fees on anything. Reimbursement of unlimited ATM fees. Talk to a person in the US within a few seconds. Quick transfers to brokerage account. Detailed mobile banking app. Overall, beyond happy with Schwab.
Date published: 2016-07-13
Rated 5 out of
I really appreciate Charles Schwab Bank
I am extremely satisfied with my account; - so much I call it Schwaby. No fees of any kind in my experience, including no ATM or debit transaction fees worldwide. The currency conversion for international transactions is outstanding. On top of this, monthly interest is paid based on the balance of the account. I would highly recommend to anyone.
Date published: 2016-06-27
Rated 3 out of
Debit card is not as advertised.
VISA manipulates the currency exchange rate by adding up to 2% on atm withdrawals while in another country. Example when I withdrew $402 at atm in Canada today the u.s. Equivalent should have been $310, but amount on my Schwab checking account was $317. Also, I did a cash advance on the same card of $2500 which converts to $1926, but again I was charged a premium and converted to $1972 almost a $50 negative to my account. Bottom line there are hidden fees with the manipulated exchange rate, they should use Reuters like the rest of Schwab, not the visa exchange rate
Date published: 2016-06-24
Rated 5 out of
Great customer service, international access unbeatable
Schwab's checking account has by far the best customer service and all around best features of any checking account I have ever used. Their interest rates are not the highest, and the online system doesn't have some of the consumer-oriented ease-of-use features of other large banks, but that is more than compensated in other ways. I have had to call customer service a few times for lost cards and other needs, and have never had to wait, ever, to talk to a human, and their reps are universally knowledgeable and helpful. One less noticeable feature of the account is that the debit card is amazing if you ever travel overseas. Not only do they not charge the typical international exchange fees of other banks, but you can withdraw money from any Visa ATM in the world and never have to pay any kind of fees whatsoever, and just pay market exchange rates. This is probably the best debit/checking account without question for anyone that travels internationally.
Date published: 2016-06-06
Rated 5 out of
Great Bank for Millennials!!!
Great mobile app and check deposit is awesome! Also love the ease of use when traveling best product for students traveling abroad and starting to invest upon graduation! Nice looking card. The message center and customer service is great!
Date published: 2016-06-03
Rated 5 out of
Unmatched features.. One of the best accounts available!
The services offered by Schwab High-Yeild Checking account are amazing. Just have a look at the features that come along with this account. No other bank offers such complimentary services.
Also, no monthly fees, neither a minimum balance nor a necessity for a direct deposit make this a very flexible and must-have account.
To top it off, they reimburse any fees that you might incur if you withdraw from a non-Schwab ATM!
Thanks for providing such great benefits. Keep up the good work.
I would happily recommend this account to everyone.
Date published: 2016-05-23
Rated 5 out of
Best bank I have ever dealt with
20+ year Schwab customer. Schwab knows how to treat customers with respect and exceptional service. ATM rebates, free checks and great apps and competent US based service. Best bank I have ever dealt with.
Date published: 2016-05-09