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
Ready to get started?
Need help? Call 800-540-6718.
Account fees and minimums
There is no fee to open or maintain an account at Schwab Bank.
- Minimum opening deposit: $0
- Monthly service charge: $0
This account is linked to a Schwab One® brokerage account, with no fees to open or maintain either one.
Want more pricing details?
View High Yield Investor Checking account Features and Fees.
Download the Schwab Bank Deposit Account Pricing Guide and Account Agreement.
Quick answers to related questions
Have questions about this account? Here are responses to some of the most common questions we hear. If you have a specific question, please call us at 800-540-6718.
It's quick and easy to
apply online once you've gathered the required information listed on the Online Application Checklist. You can also and mail it back to us, or call
800-540-6718 anytime for assistance.
Yes. Schwab Bank High Yield Investor Checking is only available when linked to a Schwab One brokerage account. There are no monthly or low-balance fees for either account.
- Get a brokerage account and one-on-one investment guidance with no account minimums or monthly service fees.
- View and manage both accounts with a single login.
- Easily transfer funds online between accounts for free.
When you open your High Yield Investor Checking account, you'll be opening both accounts at the same time, and you'll receive a separate account number for each. You'll be able to view both accounts online.
There are several ways you can make a deposit:
- Transfer funds to your checking account online from your linked Schwab One brokerage account.
- Set up direct deposit into your High Yield Investor Checking account.
- Apply for Schwab Mobile Deposit™ to deposit checks from anywhere.
- Mail a check to Schwab Bank using a free postage-paid envelope.
- Request a wire transfer to your account from another financial institution.
Applying for a Schwab Bank High Yield Investor Checking account is fast and easy.
It helps to have the following information on hand before you get started:
- Your Social Security number
- Your driver's license number
- Your employer's name and address (if applicable)
Take the next step.
Open a Schwab Bank High Yield Investor Checking account today.
Find out how we make it easy to manage your banking and brokerage activities in one convenient location. Watch now.
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.
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High Yield Investor Checking is rated
4.4304 out of
5 by
941.
Rated 5 out of
5 by
Ashley from
So far so good!
This review is for the banking portion of Schwab generally and not for this branch, though this will be my "local" if I ever need to do anything in a brick and mortar CS outpost while I'm at home.
I just opened my Schwab accounts so this review might be a bit premature, but after my customer service experiences with Schwab so far I felt compelled to write a review. Their customer service is awesome. I've used the live chat and the phone. I've had almost no wait with either service (1 to 2 minutes for chat, none for phone) and always spoke to a live person, not a machine. All the CS reps I've spoken to have been uncommonly friendly and warm. My needs and questions were taken care of immediately and I've been more than satisfied with the outcomes of these interactions.
Besides the customer service, the reimbursement of ATM fees and the ability to use any ATM without being charged by my bank, especially overseas, is huge for me since I do a lot of traveling. It's also very cool that it's a high yield checking account, meaning your balance is earning interest instead of just sitting there twiddling its thumbs. And no minimum balance or service fees are right up my alley.
All in all I'm extremely satisfied with my Schwab experiences. I'll update this review if that changes.
Date published: 2016-02-27
Rated 5 out of
5 by
Cantsayenough from
What a wonderful account
I've had accounts with numerous traditional banks and other banks through companies similar to Charles Schwab. I am far and away the most pleased with Charles Schwab. The free checks, reimbursement of ATM fees, and the website's ease of use have left me 100% satisfied. Every time I've called with a question or concern, every Charles Schwab representative has been professional, polite, and more than happy to help me. I highly recommend Charles Schwab to anyone.
Date published: 2014-08-14
Rated 5 out of
5 by
Anonymous from
Date published: 2014-02-06
Rated 5 out of
5 by
Lil JJ from
No hazzle, simple, great product.
Overall fantastic for my needs.
Date published: 2014-02-04
Rated 5 out of
5 by
contented from
no complaints
Schwab makes clear the advantages of this account before you apply. The interest rate is low but most of my funds are invested and not in cash. The fees are zero so this compensates for the fact my cash is not earning much interest.
Customer service is excellent. Prompt, capable, accurate.
Schwab's web designers also are receptive to suggestions.
Date published: 2014-01-10
Rated 5 out of
5 by
Josh from
Haven't found a better checking account
I've used Schwab Checking for a little over a year now. This was after a search around my local banks for a checking account I liked. All the other options either had minimums I wasn't comfortable with, or ATM fees, etc. Schwab has none of that. ATM fees are reimbursed, free checks, no fees. It's hard to beat. There have been a couple hiccups along the way. Customer service has been great though, you never have to wait on hold waiting for a representative. So far so good, I haven't been able to find a checking account either locally or online that offers a better combination of features and services.
Date published: 2013-10-31
Rated 5 out of
5 by
Chihcump from
Good Service
Good response when Daughter needed a replacement ATM card in a Foreign Country. Schwab Customer Service did all they could to help out.
I never have to worry about finding an ATM machine because ANY ATM is fine with me with Schwab's Fee-Reimbursement Account.
Date published: 2013-10-30
Rated 5 out of
5 by
MileHighPlus from
The best
Schwab bank high yield investor checking is the best. Great customer service, free checks, ATM fee reimbursement, and account access right there on Schwab logon.
Date published: 2013-10-30
