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 compatible Apple devices 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.