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Schwab Bank High Yield Investor Checking Account®

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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 Learn more.

View High Yield Investor Checking Account Features and Fees.4

See client reviews

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Need help? Call 800-540-6718.

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Open a Schwab Bank High Yield Investor Checking account today.


A MONEY® Magazine “Best Bank”, November 20145

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High Yield Investor Checking is rated 4.4265 out of 5 by 952.
Rated 5 out of 5 by from Best bank I've ever used Schwab Bank is the best bank I've ever used. No fees at all. Free checks. Reimbursed ATM fees...unlimited. No overdraft fees. Service is the best I have ever had from a bank. Call them any time. Mobile check deposit app is great...you get your money deposited the next day. I've transferred money out to another bank and it's there the next day. I paid a credit card bill using bill pay, and they received the payment the next day. I would have to search hard to find something to improve. I guess it's a little annoying sometimes that transfers between your Schwab accounts are not instant...only during business hours they are, but that is a minor detail.
Date published: 2013-02-02
Rated 3 out of 5 by from Great features, difficult to enroll EFT Really like the product features on the Charles Schwab investor checking, no ATM fee , no monthly fee etc... However to fund to account and sign up through Electronic Fund Transfer is nothing but hassle. The process required manual signed print outs, copy of void a check, and back and forward mailing is totally outdated, it can be easier replace by Pre-ACH transition verification which already allow on the brokerage account. Not to mention I don’t even write check these days. If I open an account online, I expect to complete the whole process online. Hope Schwab can modernized their ancient process and make easy on their customers.
Date published: 2012-12-12
Rated 5 out of 5 by from I'll never need another bank again Schwab Bank is the penultimate banking service. There are no fees. Any ATM is your ATM. Bill pay is great and works flawlessly. Free checks and a competitive interest rate. What more could you ask for? I enjoy that I can mail my deposits in and don't have to try to swing by a bank during business hours. What a hassle that is. Of course, the envelopes are postage-paid. And anytime you need assistance, Schwab is a phone call away. There is never a long hold time (if any), and customer service reps are always professional, knowledgeable, and courteous. I'll be a Schwab customer for life.
Date published: 2011-02-02
Rated 5 out of 5 by from The features you want, always free! This account is the right tool you need to get started with your new financial goals. Free checking, free visa platinum card, free billpay, no monthly fee, this account has all the good things I want for free! The features of the visa card are awesome, it has features only paid, high annual fee cards have, but completely free! Schwab even have ATM reimbursements when I travel to international destinations! hey... Do you know of another bank that do that for you? Did I mention that the account comes with a free brokerage account so you can start planning your retirement life, or just for any savings goal you may have? I would really recommend this account for everybody!
Date published: 2012-07-16
Rated 5 out of 5 by from Banking Experience I have found the Schwab banking experience to be the best overall in my 60 plus years of dealing with several banks. I am talking about banking for personal services as opposed to business banking. I am very satisfied with all your features that make banking easy and affordable without fees for every little item. It seems you have the customer in mind. I would like to see you go back to providing credit card services like you did in the past. I realize that regulations have made this less profitable but it is a very good service for your customers. Please reconsider this for your loyal customers.
Date published: 2011-11-02
Rated 3 out of 5 by from Mixed bag The virtual nature of the account makes it more efficient than traditional bricks and mortar banks and Schwab rewards accountholders for banking virtually by reimbursing ATM fees, not charging monthly account fees, and making transfers easy between checking and brokerage accounts. However, the online banking software is inadequate at best. Essentially, they took their brokerage platform and tried to jam checking account features into that platform. Square peg, round hole. That said, I reluctantly stay with it because of the other advantages named above, but the online system is in serious need of help!! My small, local credit union has better online features.
Date published: 2011-03-02
Rated 5 out of 5 by from Best Overall Banking I use many of the Schwab products and as a result of my recommendations, several friends and family have made the switch and joined Schwab. No matter what time I call, there has always been an extremely helpful and courteous rep to assist. It would be nice if the interest rate were higher but I am content with where it is as long as Schwab continues to deliver great customer service, truely FEE FREE banking, and reimbursement of ATM. Several banking institutions have started to offer scan check deposits by upload -- I'm looking forward to the day when Schwab begins to offer this option. Length of time to mail our deposits in to the bank is the only drawback at this time. Highly recommend them.
Date published: 2012-08-09
Rated 5 out of 5 by from Great account! The best thing about Schwab is their awesome customer service - it only takes seconds to get a real person on the phone. And when you do get someone on the phone, they go to great lengths to help you out in any way they can Throw in their great brokerage services, their reimbursement of ATM fees, and easy to use website, and you've got a winner. After years of near-constant frustration with another bank (I'll give you a hint: the second largest bank in AMERICA), it's been nothing but a breath of fresh air to work with Schwab. Bravo!
Date published: 2013-09-18
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