Schwab Bank Investor Checking™ account¹

No fees*, no minimums.
Banking and Investing made easier.

J.D Power award winner five years in a row.**

Checking account features

  • Gift with dollar sign icon

    Unlimited ATM fee rebates worldwide²

  • $0

    No fees or account minimums

  • Globe with dollar sign icon

    No foreign transaction fees³

  • 0.45%

    APY⁴ on your checking account balance

Benefits of a checking account with Schwab Bank

  • No fee checking

    No fees, no minimums, and a competitive APY means more money to invest.

  • Travel with confidence

    No foreign transaction fees, unlimited ATM fee rebates, and the Schwab Security Guarantee.

  • Convenience and ease

    One login, multiple accounts and the ease of managing all your money from one place.

  • Security and peace of mind

    Card lock/unlock, bank and transaction alerts and travel notices5 help you and us stay on top of your account.

  • Robust mobile app

    Make deposits, move money - All your Schwab banking needs are an app away6.

  • Mobile payments are easy

    Use your mobile wallet or contactless debit card for a secure, convenient and easy way to pay7.




Highest in Customer Satisfaction with Checking Accounts for Direct Retail Banks 5 years in a row

**Charles Schwab Bank received the highest score in the checking segment of the J.D. Power 2019–2023 U.S. Direct Banking Satisfaction Studies, which measures overall satisfaction with branchless banks. Visit for more details. The J.D. Power 2023 U.S. Direct Banking Satisfaction Study is independently conducted, and the participating firms do not pay to participate. Use of study results in promotional materials is subject to a license fee.

Accounts in multiple places? We are here to help you transfer.

Looking for other cash solutions to help you reach your goals?

See rates for cash products at Schwab and compare the features and benefits of each.

Common questions

It's quick and easy to apply online once you've gathered the required information. You can also call 800-540-6718 any time for assistance. Paper applications can be found and downloaded here.

Yes, when you open your 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 fees, and easily transfer funds between accounts for free.

There are several ways you can make a deposit:

  • Use Schwab Mobile Deposit™6 by taking a picture of a check once your checking account is opened.
  • Transfer funds to your checking account online from your linked Schwab One® brokerage account.
  • Set up direct deposit into your Investor Checking account.
  • Transfer funds from another financial institution.
  • Mail a check to Schwab Bank using a free postage-paid envelope.
  • Request a wire transfer to your account from another financial institution.


Contactless payments are a secure way to purchase products or services using near-field communication (NFC) technology. NFC technology allows the card and the terminal to speak to each other to enable payments at close ranges. Once you tap or wave your card at the terminal, when prompted to pay, an authorization is sent securely without transmitting personal account information. 

Learn more about contactless payments

You can receive a new contactless card in one of two ways:

  1. By clicking here, you will be sent to the Debit Card Reorder page on Choose the "upgrade to contactless" button, verify your address and then click "Request card". Your card will be mailed to the address that you choose and you should receive it in 3-5 business days.
  2. You will receive an upgraded contactless card upon expiration of your current card. There is nothing you will need to do. Your new card will be shipped to you a month or so before the expiration of your current card. 

Consolidating all your accounts at Schwab may help you better manage your finances. We can help you every step of the way in bringing your assets over, in a tax-efficient manner. Click here to learn more.