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Schwab Bank High Yield Investor Checking Account®

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Schwab Bank High Yield Investor Checking® Account

Linked to a Schwab One® brokerage account, our no-ATM-fee1 checking account makes managing all your finances simpler. Ready to get started?

Open a Checking Account

Choose an account type:

Need help? Call 800-540-6718.

  • Unlimited ATM fee rebates worldwide1
  • No service fees or account minimums
  • 0.15% APY on your account balance2

Checking Accounts: How Schwab Bank Compares

Charles Schwab Bank Bank of America Chase Citibank Wells Fargo
Checking Account High Yield Investor Checking Interest Checking Premier Plus Checking Priority Interest Checking Preferred Checking
Annual Percentage Yield

0.15%

Earn at least 4X more at Schwab Bank3

0.01% 0.01% 0.01% 0.01%
Monthly Fee $0 $25 $25 $25 $15
Minimum Balance Required to Waive Monthly Fee

$0

$10K minimum daily balance

Waived if

$15K minimum daily balance

Waived if

$10K minimum daily balance

Waived if

$10K minimum daily balance

Waived if
ATM Fee Rebates Unlimited4 No Limited5 Waived* Limited5
Foreign Transaction Fees $0 3% of transaction amount 3% of transaction amount 3% of transaction amount 3% of transaction amount

What do I get with this checking account?

With this account, you can easily fund your investments and oversee all of your personal finances. You’ll also get:

  • Free bill pay on Schwab.com and Schwab Mobile6
  • Check deposit from anywhere with Schwab Mobile Deposit™
  • Free standard checks and a Schwab Bank Visa® Platinum Debit Card
  • FDIC insurance up to $250,0007
  • A linked Schwab One® Brokerage Account
  • Ability to link to Apple Pay® when you set up your compatible devices
  • Convenient and more secure online purchases when you enroll your Schwab Bank Visa® Platinum Debit Card with Visa Checkout

Open a Checking Account

Choose an account type:

View High Yield Investor Checking Account Features and Fees8

View High Yield Investor Checking Account Rates

Download the Schwab Bank Deposit Account Pricing Guide and Account Agreement

FAQs related to our High Yield Investor Checking account.

Have questions about our checking account? Here are responses to some of the most common questions we hear. If you have a specific question, please call us at 800-540-6718.

How do I open this account?

It’s quick and easy to apply online once you’ve gathered the required information. You can also download an application and mail it back to us, or call 800-540-6718 anytime for assistance.

Do I get a Schwab One® brokerage account with my High Yield Investor Checking account?

Yes, when you open your High Yield Investor Checking account, you’ll be opening a brokerage account at the same time and receiving a separate account number for each. You can view both accounts online with a single login, pay no monthly or low-balance fees, and easily transfer funds between accounts for free.

How do I make my initial deposit to my High Yield Investor Checking account?

There are several ways you can make a deposit:

  • Transfer funds to your checking account online from your linked Schwab One® brokerage account.

  • Set up direct deposit into your High Yield Investor Checking account.

  • Enroll your account in Schwab MoneyLink®.

  • Apply for Schwab Mobile Deposit™ to deposit checks from anywhere.

  • Mail a check to Schwab Bank using a free postage-paid envelope.

  • Request a wire transfer to your account from another financial institution.

Satisfaction Guarantee

We believe every investor deserves to work with a firm they can count on. At Schwab Bank, our commitment to your satisfaction is backed by a Satisfaction Guarantee.9 If for any reason you’re not completely satisfied, we’ll work with you to make things right.

Take the next step.

Call
800-540-6718
or
Open a Checking Account

Choose an account type:

Helpful Resources



High Yield Investor Checking is rated 4.5 out of 5 by 1176.
Rated 4 out of 5 by from Easy To Use Transfers are easy and quickly done. Bill Pay is easy to use as well.
Date published: 2017-08-09
Rated 5 out of 5 by from Unlimited ATM draws no charge, Free checks
Date published: 2017-08-09
Rated 5 out of 5 by from Fee Free ATMs worldwide and no foreign currency surcharge This is my main checking account and I love the free atm's world wide with a reimbursement of any fees. Also, it is great for travelling with no foreign currency surcharges.
Date published: 2017-08-08
Rated 5 out of 5 by from Easy, straightforward, fair I really like the convenience of doing transfers between Schwab bank and brokerage accounts. Schwab's service works great, their website is clean and fast, and - unlike competitors - they don't keep trying to sell me on loans, credit cards, and other similar products. I appreciate that.
Date published: 2017-08-08
Rated 5 out of 5 by from Love Everything About this Account What's not to love? interest bearing, reimbursed ATM fees, and it's completely free!
Date published: 2017-08-08
Rated 5 out of 5 by from Great for quick transactions I have never had a need that was not met
Date published: 2017-08-07
Rated 5 out of 5 by from Zero ATM Fees overseas! I feel so sorry for the customers who had a bad experience opening their account. It might be because that I have had my brokerage account with Schwab for over 10 years. My on-line application went through in minutes. The debit card came fairly quickly. I applied for the account for its zero ATM fees feature. I was going to a trip to Asia and did not have time to go to the bank to get the new bills required in that area. I used the debit card to withdraw local currency in Asia, and as promised, there was absolutely no fees. In addition, I got a great exchange rate for using Schwab debit card. Compared to the exchange rate I observed at the airport, Schwab's exchange rate was much better for me. My only regret is that I didn't apply for it earlier.
Date published: 2017-08-07
Rated 4 out of 5 by from No ATM fees around the world! We travel a lot and the fact that you can use any ATM on the planet at no cost and no foreign transaction fee are unbeatable! Only drawback: long hold times on ACH (4 days) and mobile deposits (5 days) when you transfer/deposit money in your account. This is unacceptable in 2017! Otherwise, this account would get 5 stars.
Date published: 2017-08-05
Rated 5 out of 5 by from ATM card for travel Schwab made it easy to access funds during travel.
Date published: 2017-08-04
Rated 4 out of 5 by from
Date published: 2017-08-04
Rated 5 out of 5 by from Satified since I opened many years ago Checking account has all the features that I want and need. I have been totally satisfied with all aspects and features of the account.
Date published: 2017-08-04
Rated 5 out of 5 by from Who Doesn't Love Schwab The best company in the world to bank with! Love these guys.
Date published: 2017-08-03
Rated 5 out of 5 by from Traveling is so simple with the Schwab card I appreciate the ease of depositing monies and in the ATM ease.
Date published: 2017-08-03
Rated 5 out of 5 by from Schwab has met all my needs with their ATM card for travel.
Date published: 2017-08-03
Rated 5 out of 5 by from Best Customer Service. Absolutely the best customer service I have had in years. Super easy start up and everything just got easier. Very satisfied.
Date published: 2017-07-28
Rated 4 out of 5 by from
Date published: 2017-07-28
Rated 5 out of 5 by from Investor Banking is Wonderful
Date published: 2017-07-26
Rated 4 out of 5 by from
Date published: 2017-07-25
Rated 4 out of 5 by from Meets my needs. Very happy to finally get my account & debit card.
Date published: 2017-07-25
Rated 5 out of 5 by from Exactly what I need from a bank Schwab offers just about everything I need from a bank. Easy access to online trades, unlimited ATM reimbursement anywhere in the world, and good customer service. I recommend Schwab to anyone looking for a better banking experience.
Date published: 2017-07-21
Rated 5 out of 5 by from 3 year customer As a person who travels often outside the United States this card is perfect. I never thought I would like to bank with someone where I couldn't go to their building in my home town. Schwab has proven me wrong. They are honest about what you get and nothing has changed for me as for the reason to get the card. I have not been charged outsider atm fees and that is a huge plus for me!
Date published: 2017-07-21
Rated 5 out of 5 by from Incredible Experience I just truly impressed with this checking account which I've had for two years. Great communication on account status and very excellent service. I can't wait to do more investing in the future with Schwab when more personal funds become available.
Date published: 2017-07-18
Rated 1 out of 5 by from Bait and Switch!!!!! When Schwab Bank created the "High Yield Checking Account and High Yield Savings Account" they paid market leading interest rates. Now they pay no interest at all. Compared to other on line banks this is the worst!
Date published: 2017-07-17
Rated 2 out of 5 by from Meh Customer service not helpful; wasted hours my time and refused to effect a simple change to my account.
Date published: 2017-07-16
Rated 4 out of 5 by from Great Features Schwab has met online accessibility.
Date published: 2017-07-16
Rated 4 out of 5 by from Trustworthy, experienced supporters At C. Schwab everybody at the support is on the same page and knows what he/she is talking about. Love it.
Date published: 2017-07-15
Rated 4 out of 5 by from
Date published: 2017-07-15
Rated 5 out of 5 by from Great features and customer support team
Date published: 2017-07-14
Rated 5 out of 5 by from
Date published: 2017-07-14
Rated 5 out of 5 by from Great service I am very pleased with their services
Date published: 2017-07-13
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