Schwab Bank High Yield Investor Checking Account

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 0.10% 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
FDIC insurance up to $250,000³
A linked Schwab One® brokerage account with no fees or minimums

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Ready to get started?

Select your account type:

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?

Download the Schwab Bank Deposit Account Pricing Guide.

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.

How do I open this account?

It's quick and easy to apply online once you've gathered the required information listed on the Online Application Checklist. You can also download an application and mail it back to us, or call 800-540-6718 anytime for assistance.

Do I have to open a Schwab One brokerage account with my High Yield Investor Checking account?

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.

How do I open a Schwab One brokerage account?

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.

How do I make my initial deposit to my High Yield Investor Checking account?

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 online 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.

Download a Schwab Bank High Yield Investor Checking application.
Learn how your assets are protected at Charles Schwab.
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1. Unlimited ATM fee rebates apply to cash withdrawals using the Schwab Bank Visa Platinum check card wherever it is accepted. ATM fee rebates do not apply to any fees other than fees 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 0.10% annual percentage yield (APY) as of 03/01/2013. 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. Overdraft protection using margin sources may create a margin loan in your Schwab One brokerage account that may be subject to daily interest charges, margin calls, or potential liquidation of securities. Refer to the Schwab Bank Deposit Account Agreement and Schwab One Account Agreement for further details.

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.

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