The Schwab Bank High Yield Investor Checking^® account is linked to a Schwab One brokerage account.¹

With this checking account, you get:

• Easy transfers from checking to/from your linked brokerage account
• No monthly service fees or account minimums
• Unlimited ATM fee rebates, no foreign transaction fees²
• Tighter security with card lock/unlock, transaction alerts, fraud alerts and travel notifications
• Easy check deposits with Schwab Mobile Deposit™³
• Free standard checks⁴ and free bill pay on Schwab.com and Schwab Mobile⁵
•  Convenient payments and extra security with mobile wallets

No, there are no monthly service fees when you open a High Yield Investor Checking account linked to a Schwab One brokerage account. Other account fees, fund expenses, and brokerage commissions may apply to your Schwab One account. See the Charles Schwab Pricing Guide for Individual Investors and the Schwab Bank Pricing Guide for comprehensive details on fees.

No, there are no minimum balance requirements for either account when you open a High Yield Investor Checking account linked to a SchwabOne brokerage account.

Schwab Bank High Yield Investor Checking is a variable rate checking account, so the rate will fluctuate as the market rates change.

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). Learn more about FDIC insurance.

You will receive a Schwab Bank Visa^® Platinum Debit Card that can be used for purchases anywhere Visa is accepted and provides you with unlimited ATM fee rebates within 7-10 business days after opening your account. You will receive complimentary checks, deposit slips, mailing labels and pre-addressed postage-paid envelopes within 7-10 business days after funding your account. 
 

Yes. For your convenience, your High Yield Investor Checking account comes with a Schwab Bank Visa^® Platinum Debit Card. It is automatically mailed to the address on file upon opening your account. Use your card to make purchases wherever Visa is accepted, and to withdraw cash from your High Yield Investor Checking account at ATMs worldwide.

Unlimited ATM fee rebates apply to cash withdrawals using the Schwab Bank Visa^® Platinum Debit Card wherever it is accepted².

We refund ATM fees for cash withdrawals using your Schwab Bank Visa^® Platinum Debit Card wherever it is accepted at the end of the same month that you used your Schwab Bank Visa® Platinum Debit Card.⁶

First, you may want to consider contacting the merchant as it is generally faster and simpler for you to attempt to resolve the question with the initiator of the charge; however, if you cannot resolve the issue with the merchant then you should contact a Schwab Bank Representative at 888-403-9000. For fraudulent charges, see the Schwab Security Guarantee and the next question below.

You don't pay for any unauthorized charges or withdrawals. With the Schwab Security Guarantee, Schwab Bank will cover 100% of any losses in any of your Schwab Bank accounts due to unauthorized activity. Please monitor your monthly statement for fraudulent charges and immediately contact a Schwab Bank Representative at 888-403-9000 if you notice unauthorized activity. Full details on the Schwab Security Guarantee can be found here.

Yes. Use your debit card to pay for your purchases, like groceries, gas, and utilities. The money will be deducted from your High Yield Investor Checking account and transaction details can be viewed on Schwab.com and on your monthly statement.

Yes, the debit card has smart chip technology—sometimes called "chip and signature" or "EMV" (Europay, MasterCard, and Visa) technology—that adds an extra level of security to your debit card transactions. Cards using this technology feature an embedded microprocessor chip that stores the same information as the magnetic stripe usually found on the back of credit or debit cards. But smart chip technology encrypts that information, adding an extra layer of security.

Yes. Once you receive and activate your new contactless card, be sure to destroy the old card. 

If your card has a contactless indicator on it, then your card is enabled with contactless and ready to make contactless payments.

Contactless payments are:

• Secure – contactless payments are just like using the chip in your card – every transaction is sent with a one-time code that secures your payment information.
• Fast – contactless payments are fast because all you need to do is tap or wave your card. You can use it at grocery stores, some mass transit terminals, restaurants and more.  
• Simple – contactless payments are simple – just Tap or Wave to complete your transaction. There is no need to insert, dip, or swipe your card at contactless terminals.

Contactless cards and mobile wallets use the same technology. When using your mobile wallet, you are just using your smart device instead of your physical contactless card. The security is the same for both the physical card and the digital card in your mobile wallet. 

Yes. Every transaction is sent with a one-time code that secures your payment information.

Yes. Schwab.com offers many convenient features, including online funds transfer, online Schwab Bank Bill Pay, viewing and printing check images, viewing account history, and easy transfers between your accounts.

Yes, your High Yield Investor Checking account comes with free online Schwab Bank Bill Pay^®. It's a fast, secure, and convenient way to pay your bills.

Yes, electronic statements are available. Sign up any time by calling a Schwab Bank Representative at 888-403-9000 or visit schwab.com/paperless.
 

No. Standard wallet and duplicate check styles are free with the High Yield Investor Checking account. Deposit slips and postage-paid return envelopes are also free. There is a charge for nonstandard checks and expedited shipping.

No, your High Yield Investor Checking account includes free unlimited check writing.

Now that you have a High Yield Investor Checking account, your payment features migrate from your Schwab One account to your High Yield Investor Checking account. The Schwab One brokerage account bill pay service will be de-activated and your Billers will be moved to your High Yield Investor Checking account. Any recurring payments you had set up on your Schwab One account will need to be re-established on your High Yield Investor Checking account. Seven to ten days after funding your High Yield Investor Checking account, checks and deposit slips will be sent to you. A Schwab Bank Visa Platinum debit card will be sent to you after opening your High Yield Investor Checking account. All your deposit features are still available on both your Schwab One brokerage account and your High Yield Investor Checking account. If you have any questions on how to deposit to either account, please visit Deposits and Withdrawals, or call a Schwab Bank Representative at 888-403-9000.

To view and print images of your checks, log on to Schwab.com, choose your High Yield Investor Checking account, then select History > Transactions > and select the check number under "Posted Transactions."

No. Direct deposit into your High Yield Investor Checking account isn't required but we do encourage you to enroll in this free service. It's a great way to move deposits into your account quickly and reduce paperwork. You have the option to deposit all or a portion of your paycheck or government payment such as Social Security. Download a Direct Deposit Sign-Up form here.

Schwab's Mobile App may be used to make deposits to your eligible Schwab brokerage accounts or Schwab Bank accounts. Start by downloading it here and then you can make deposits by taking pictures of your checks. Learn more.