Free services

  • No account minimum
    There’s no minimum deposit required to open an account.1

  • No monthly service fee
    There’s no monthly account service fee, regardless of your account balance.

  • Brokerage account transfers
    Your checking account comes linked to a Schwab One® brokerage account with no minimum balance requirement. Online transfers between the accounts are free.1

  • Unlimited ATM fee rebates
    Enjoy unlimited ATM fee rebates worldwide2 and no fees for using a Schwab Bank ATM.

  • Schwab Bank Bill Pay™
    There’s no fee to pay your bills online or on your mobile device with this service.

  • Schwab Mobile Deposit™
    Apply for Schwab Mobile Deposit.3 Then make deposits directly to your Schwab Bank accounts by taking a picture of your checks using your iPhone® or Android™ smartphone.4

  • Debit card
    After you fund your checking account, there’s no fee for original or replacement Schwab Bank Visa® Platinum Debit Cards delivered by regular U.S. mail. Free services include travel and emergency services assistance, Price Protection, Warranty Manager, and more.5

  • No foreign transaction fees
    There are no foreign exchange transaction fees for purchases made with your debit card.6

  • Electronic funds transfers
    There’s no fee to transfer funds electronically between your Schwab Bank account and accounts at other U.S. financial institutions.

  • Checks
    There’s no fee for standard checks delivered by regular U.S. mail.

  • Overdraft transfers
    There’s no fee to cover overdrafts when funds are available from an overdraft source, such as a linked Schwab brokerage or Schwab Bank High Yield Investor Savings® account.7

  • Stop payments
    There’s no fee to stop payment on an item from your account.

  • Incoming wires
    Domestic wires only (Schwab Bank does not accept wires in foreign currency or from banks outside the U.S. and its territories).

  • Check and statement copies
    There are no fees for copies of checks and statements sent to you by regular U.S. mail or fax.

  • Apple Pay™
    With your Schwab Bank debit card and Apple Pay4, you can use your iPhone® 6 or iPhone 6 Plus to make convenient, secure purchases at over 220,000 retailers and in many apps.

Account features

  • Mobile apps
    Download the apps at schwab.com/mobile to transfer funds and pay bills. With Schwab Mobile Deposit™, you can make deposits simply by taking photos of your checks.3

  • Online banking
    Transfer funds online, view account information, pay bills, and more.

  • Interest-earning
    See the current interest rate.

  • FDIC insurance
    Up to $250,000 for each account based on ownership type.8

Summary of processing policies9

  • Deposit and withdrawal postings

    We typically process transactions in this order:

    1. Deposits
    2. Previously authorized transactions (e.g., checks cashed at a Schwab Bank branch), wire transfers, electronic funds transfers, bank fees, ACH debits
    3. Checks in order from lowest amount to highest. Certain exceptions apply that may change this posting order.10
  • Deposit availability

    • Direct deposit: Same business day as deposit
    • Incoming wire transfer: Same business day as deposit
    • Check deposits: Generally the next business day after we receive your deposit. Exceptions apply. If we place a longer hold, we will notify you.9

More services9

  • Outgoing wires
    Fee: $25 for each domestic wire. Schwab Bank does not send wires to countries outside the U.S. and its territories.

  • Cashier’s checks
    Fee: $10 each. To request a cashier’s check, please call 888-403-9000.

  • Returned checks
    Fee: $25 for each check returned (maximum of $100 per day) due to insufficient funds (a check you write that we are unable to pay because there isn’t enough money in your account).

  • Deposit returned
    Fee: $5 each. You’re charged for checks deposited into your account that the paying bank returns unpaid, usually due to insufficient funds in the payer’s account.

  • Debit card rush delivery
    Fee: $15 or more. There’s no fee for delivery of your debit card by regular U.S. mail, but there is a fee if you need the card rushed to you.

Convenient banking

  • Take advantage of these features to make your banking even easier.

    • Download Schwab Mobile apps to manage your checking account anytime, anywhere.10
    • Set up direct deposit for your paycheck or government-issued checks.
    • Use Schwab Bank Bill Pay online or on your mobile device to pay bills quickly and easily.
    • Set up a recurring transfer to your Schwab One brokerage account.

We're here to help

Clients of independent investment advisors: You may also contact your advisor or call Schwab Alliance at 800-515-2157.