High Yield Investor Savings Account FAQs
Have questions about the Schwab Bank High Yield Investor Savings® account? We've got answers. Look below to find our responses to some of the most common questions we hear. Or, if you have questions that aren't answered here, please call us at 888-303-0310.
Is the money in my High Yield Investor Savings account FDIC-insured?
Yes. The funds in your High Yield Investor Savings account are insured up to $250,0001 by the Federal Deposit Insurance Corporation (FDIC) based on account ownership type.
Learn more about FDIC insurance.
Is this a fixed interest rate or will it change?
The High Yield Investor Savings account has a competitive variable interest rate, so it may change as market conditions vary.
Are there minimum balance requirements or monthly fees?
No. There is no minimum balance requirement to open or maintain a High Yield Investor Savings account, and there are no monthly service fees, regardless of your balance.
1. 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).
2. Unlimited ATM fee rebates apply to cash withdrawals using the Schwab Bank Visa 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 Client Service Specialist for assistance at 888-403-9000. Schwab Bank reserves the right to modify or discontinue the ATM fee rebate at any time.
3. 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 requirement, and there is no requirement to fund this account, when it is opened with a linked High Yield Checking account.
4. Schwab Bank deposits are accepted only at Schwab Bank branches. Please see the Schwab Bank Deposit Account Agreement for details on making deposits directly into the High Yield Savings account.
5. Per Regulation D, you can make no more than six withdrawals per monthly statement cycle from your account to any other Schwab Bank or Schwab brokerage account(s), to yourself at other financial institutions, or to a third party by means of: Visa debit card purchase, preauthorized transfer, automatic transfer, telephone transfer, or facsimile transfer, including phone or online banking funds transfers, wire transfers, and overdraft protection transfers. These limits do NOT apply to cash withdrawals from your account or to funds transfers made to another Schwab Bank account if conducted at the bank’s Reno branch, by mail, or at an ATM.
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.
Apple, the Apple logo, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries.
Android is a trademark of Google Inc. Use of this trademark is subject to Google Permissions.
Charles Schwab & Co., Inc. and Charles Schwab Bank are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation. Brokerage products are offered by Charles Schwab & Co., Inc., member SIPC. Deposit and lending products are offered by Charles Schwab Bank, member FDIC and an Equal Housing Lender.
Apple, iPad Air, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. Apple Pay, Apple Watch, and iPad mini are trademarks of Apple Inc.
App Store is a service mark of Apple Inc.