Checking Account FAQs
Have questions about Schwab Bank High Yield Investor Checking® accounts? Here are answers to some of the most common checking account questions we hear. If you have a specific question, please call 800-540-6718.
About the Account
What's the catch?
There are no catches.1 The Schwab Bank High Yield Investor Checking® account is a variable rate checking account and its rate will fluctuate with market conditions. With this account you get:
- No minimum balance requirements
- No monthly service charges
- No ATM fees2
- Free standard checks and a Visa® Platinum debit card
- Free online bill pay on Schwab.com and Schwab Mobile
- Competitive interest rate
- FDIC Insurance up to $250,000
Are there any account services fees for my High Yield Investor Checking or my linked Schwab One® brokerage account?
No, there are no monthly or low balance fees for either account when you open a High Yield Investor Checking account linked to a Schwab One brokerage account.
Are there minimum balance requirements?
No, there are no monthly or low balance fees for either account when you open a High Yield Investor Checking account linked to a Schwab One brokerage account.
Is this a fixed interest rate on the High Yield Investor Checking account or will it change?
Schwab Bank High Yield Investor Checking is a variable rate checking account so the rate will fluctuate with market conditions. This does not change the superior value that this account offers relative to other checking accounts in the market.
Is the money in my High Yield Investor Checking account FDIC-insured?
Yes, the funds in your High Yield Investor Checking account are insured, in aggregate, up to $250,000 based on account ownership type, by the Federal Deposit Insurance Corporation (FDIC).
Do I need to open a Schwab One brokerage account with my Schwab Bank High Yield Investor Checking account?
Yes. The Schwab Bank High Yield Investor Checking account is only available when linked to a Schwab One brokerage account. The two accounts may be opened at the same time. The two accounts will be linked, so you can easily transfer funds between them to meet both your investing and checking needs. While you're under no obligation to use the Schwab One brokerage account, you may find it very convenient. And, you can enjoy the benefits of investing with Schwab brokerage at no additional cost.
Take the next step.
- Download a High Yield Checking account application.
- Find out how your assets are protected at Schwab Bank.
- See all accounts.
Charles Schwab Bank
1. Schwab Bank High Yield Investor Checking accounts are available only as linked accounts with Schwab One brokerage accounts. The Schwab One brokerage account has no minimum balance requirements, and there is no requirement to fund this account, when it is opened with a linked High Yield Checking account.
2. Unlimited ATM fee rebates apply to cash withdrawals using the Schwab Bank Visa® Platinum Debit Card (also referred to as a "Check Card" or "Visa 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 Customer Service Representative for assistance at 888-403-9000. Schwab Bank reserves the right to modify or discontinue the ATM fee rebate at any time.
3. The rebate will appear as a lump-sum credit on the same checking account periodic statement that includes ATM fees incurred for that particular account statement cycle.
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).
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.
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