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Checking Account FAQs

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Have questions about the Schwab Bank High Yield Investor Checking Account®?  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 once the account has been funded.
  • 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.

Apply Now or call 800-540-6718.



Equal Housing Lender/Member FDIC Charles Schwab Bank