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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 0.06% APY variable interest rate on any balance2
  • Free bill pay on 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

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High Yield Investor Checking is rated 4.5 out of 5 by 1026.
Rated 2 out of 5 by from Great Domestic Banking, but Horrible Experience Internationally They offer FREE ATM charges and rebates for any ATM fees you incur on the other side. This is great, when it works in the USA. However, I recently went traveling abroad and despite filling out a Travel Authorization Form to authorize international charges and ATM withdrawals, Schwab/Visa continued to "lock" my account due to suspicious activity. Spent a couple hours on the phone speaking to multiple people, after "unlocking" my account again but still no luck. I guess you can't get charged ATM fees, if they don't let you use the ATM. Luckily I had my bank card from my other banking institution and used that. Horrific ATM fees.
Date published: 2016-08-27
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 The process required manual signed print outs, copy of void a check, and back and forward mailing is totally outdated, it can be easier replace by Pre-ACH transition verification which already allow on the brokerage account.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 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 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 5 out of 5 by from Contacting Schwab Bank I called Schwab Bank and two others to inform then that we would be traveling to Europe and the countries we would be visiting so we could use our credit cards. The process was quick and easy with Schwab Bank, someone answered my call immediately. I had to wait on the phone for over twenty minutes with another bank listening to the same message, repeated over and over, telling me they were experiencing higher than usual calling volumes and that my call was important to them. The other bank had an automated system that worked fairly well (not as good as speaking to Schwab Bank) but better than the other bank. I used my Schwab VISA ATM card exclusively.
Date published: 2016-09-03
Rated 3 out of 5 by from 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 5 by 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 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 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
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