Frequently asked questions about the Schwab Crypto™ account.

Schwab is launching Schwab Crypto, a cryptocurrency account held at Charles Schwab Premier Bank, SSB, that will support spot trading of supported coins.

You first need an eligible brokerage account to link with a Schwab Crypto account. Eligible accounts include individual and joint brokerage accounts. Additional eligibility requirements, such as jurisdiction, apply.

If you are already a Schwab client, please log in with your brokerage account to get started.

If you don't have a brokerage account with Schwab yet, you can open an account to get started.

Most crypto accounts are opened immediately upon approval, but it can take up to two business days to review and approve an application.

Most clients will be able to trade immediately after they fund their newly opened Schwab Crypto account. If you are unable to trade, your account may be pending an upgrade.

You'll get this upgrade automatically if needed when you open a crypto account. No further action is required; Schwab will email you when your account is ready. This process can take up to two business days and is required to trade crypto.

Yes, you can have multiple crypto accounts. Each one must be linked to a unique, eligible Schwab brokerage account.

If you are having trouble completing the crypto account application, please contact us via chat or call 866-295-0914.

Schwab has educational resources available on the cryptocurrency education hub.

No, buying and selling Bitcoin and Ethereum are not available on paperMoney at this time.

You can only transfer cash into your Schwab Crypto account from its linked brokerage account. If needed, you can transfer funds to your linked brokerage account from your other Schwab accounts or external bank accounts. On Schwab.com, select Transfer & Pay, then select Transfer Funds. From the Schwab Mobile app, select More, then select Transfer Funds.

No. At this time, you can only move funds into your Schwab Crypto account from your linked brokerage account. However, you can transfer funds into your linked brokerage account from your other Schwab accounts or external bank accounts.

Transfers into your Schwab Crypto account made during normal business hours will be available immediately.

Yes, subject to the satisfaction of certain conditions, cash (U.S. dollar) balances in your Schwab Crypto account are insured by the FDIC up to the standard maximum deposit insurance amount of $250,000.

Note: The cash balances are not separately insured from any funds that may be held at Charles Schwab Premier Bank, SSB, as part of your participation in the Schwab Cash Features Program. These balances are aggregated based on account ownership type to determine whether a depositor has exceeded the $250,000 FDIC limit.

You can currently trade:

• Bitcoin (BTC/USD)
• Ethereum (ETH/USD)

No. Schwab did not create and does not issue its own cryptocurrency or token. Schwab Crypto is an account type offered by Charles Schwab Premier Bank, SSB, that allows eligible clients to hold and trade supported cryptocurrency.

You can trade supported crypto on these Schwab platforms:

• Schwab.com
• Schwab Mobile app
• thinkorswim^® (mobile, web, desktop)

You can trade supported crypto nearly 24/7 (24 hours per day, 7 days per week, except during maintenance windows). A crypto trading day is 00:00:00 UTC–23:59:59 UTC.

Schwab reserves a monthly scheduled maintenance window (usually on Saturday evenings). During this up-to-two-hour period:

• You may not be able to place new orders.
• Existing orders may not execute.
• Existing orders that do execute may have delayed confirmations.
• Positions, balances, and history may be temporarily unavailable.

You will be notified ahead of scheduled maintenance via email and directly within the Schwab Crypto experiences on Schwab.com, the Schwab Mobile app, and thinkorswim.

Schwab charges a 0.75% fee for each crypto transaction (buy and sell), with a minimum fee of $0.01. Schwab calculates this fee as a percentage of your order's notional value and will display it before you submit your transaction. Estimated fees and actual fees may vary due to market fluctuations. Refer to the Charles Schwab Premier Bank Cryptocurrency Account Pricing Guide for details.

Fees are assessed differently depending on whether you enter the trade in dollars (USD) or coins.

• Dollar Buys: Fees are included in the amount you enter.
• Coin Buys: Fees are added to the amount you enter.
• Dollar Sells: Fees are added to the amount you enter.
• Coin Sells: Fees are deducted from the USD proceeds of the sale.

To execute your supported crypto trades, Schwab works with third-party trading partners that provide access to market pricing and liquidity.

No. Schwab does not add a markup to crypto quotes or trades.

Schwab displays the estimated fee before you submit a trade. Once your trade is executed, the assessed fee can be viewed in your trade and activity history on Schwab.com, the Schwab Mobile app, and thinkorswim.

• Schwab.com: Go to Accounts, select Transaction History, then select your crypto account from the account selector.
• Schwab Mobile app: Go to Accounts, tap your crypto account, tap History, then tap your trade.
• thinkorswim web: Go to Positions, select Transaction History, then select Crypto.
• thinkorswim mobile: Go to History, then tap Crypto.
• thinkorswim desktop: Go to Monitor, then select Account Statement.

Fees will also appear on your monthly statement.

Estimated fees and actual fees can vary due to market fluctuations that impact the final execution values.

Schwab Crypto supports these order types on all platforms:

• Market
• Limit
• Stop
• Stop limit

More order types are available on thinkorswim platforms:

• Trailing stop
• Trailing stop limit
• Other advanced order types

• Minimum: $1
• Maximum: $2M

Any orders over $1 million must be limit orders.

A $10 million maximum position limit applies to the cost basis (total amount you have invested) in each asset, not the current market value of your holdings. This means:

• The position limit is based on how much you've spent to purchase a supported cryptocurrency at Schwab (your cost basis).
• Once you've invested $10M in a specific cryptocurrency, you cannot place additional buy orders for that asset.
• Your position's market value may rise above $10 million due to price appreciation. Market appreciation alone will not prevent additional purchases, provided your cost basis remains below the $10 million limit.
• If you reach the limit, you can still sell your position at any time.

Supported crypto trades typically settle immediately. After settlement, cash proceeds from sales will appear in your Schwab Crypto account and can then be transferred to your linked brokerage account.

No. Schwab Crypto accounts are not eligible for margin. You cannot buy cryptocurrency using margin, nor will your cryptocurrency balances be considered collateral for any margin account.

For certain order types, you must reserve a small amount of additional cash or crypto to account for potential price movements during the trade. This only applies to:

• Coin market buys (requires additional cash).
• Dollar market sells (requires additional crypto).

You can view your crypto positions and activity on Schwab.com, the Schwab Mobile app, and thinkorswim.

To view your crypto activity history:

• Schwab.com: Go to Accounts, select Transaction History, then select your crypto account from the account selector.
• Schwab Mobile app: Go to Accounts, tap your crypto account, then tap History.
• thinkorswim web: Go to Positions, select Transaction History, then select Crypto.
• thinkorswim mobile: Go to History, then tap Crypto.
• thinkorswim desktop: Go to Monitor, then select Account Statement.

Positions, trade history, and activity will also appear on your monthly statement.

Yes. You can specify a fractional coin or dollar amount to trade as long as the order is at least $1 in value.

You can attempt to cancel an order if it has not yet been executed. For partially executed orders, you can attempt to cancel any remaining unexecuted portion of the order.

You can view the status of your orders and cancel eligible orders on Schwab.com, the Schwab Mobile app, or thinkorswim.

Yes. Once you have enrolled in crypto transfers, you can receive and send supported cryptocurrencies with your Schwab Crypto account, subject to our procedures for screening and allowlisting external addresses.

You will also be able to transfer crypto between your Schwab Crypto accounts. It will work just like sending crypto to an external wallet (i.e., you must first allowlist the address, wait 24 hours, and then you can move crypto to the other account).

To ensure a smooth and reliable experience, the ability to transfer crypto is being rolled out in phases to eligible clients with a Schwab Crypto account. Schwab is working to make the feature available to all eligible clients as quickly as possible while maintaining a reliable experience. Schwab will inform you via email when your account has been enabled to transfer crypto.

Once your Schwab Crypto account is open and has been enabled to transfer crypto, you can enroll in crypto transfers to move supported cryptocurrency between your Schwab Crypto accounts and external addresses (i.e., external wallets).

To get started, log in to your account via Schwab.com or the Schwab Mobile App and select More. Go to Transfer & Pay and select Transfer Crypto, then select Continue. To enroll, simply verify your identity and set up a passkey.

Once enrolled, you can deposit crypto, add addresses to your allowlist, and send crypto securely.

You can receive and send the following cryptocurrencies from your Schwab Crypto account:

• Bitcoin (Bitcoin network)
• Ethereum (Ethereum network)

Protect yourself. Once you send crypto, your transfer cannot be reversed.

• Beware of scams. Look out for imposters requesting crypto payments. Schwab will never ask you to share your account information, share your passkey, or transfer coins to an external wallet.
• Verify the address. Make sure to use the intended wallet address, and don't send crypto to anyone you don't know.
• Use the verified network. Always ensure you are sending the desired crypto on the correct blockchain network. If you send crypto to the wrong network, your coins may be lost and unrecoverable.

Once you're enrolled in crypto transfers, go to Transfer & Pay / Transfer Crypto on Schwab.com or the Schwab Mobile app and select Receive Crypto to get a receiving address you can share with the sender.

Make sure to select the right coin and network. Your assets may be lost and unrecoverable if you transfer an unsupported crypto asset or use an unsupported network.

Once you've enrolled in crypto transfers, go to Transfer & Pay / Transfer Crypto on Schwab.com or the Schwab Mobile app, then select Send Crypto.
Make sure to review everything before submitting your transfer, as crypto transfers are final. Once you send crypto, Schwab cannot reverse it or reimburse you.

You can't send crypto to a pending address. After you add an address ("allowlist"), expect at least 24 hours before it is activated and ready for transfers.

Schwab does not charge a fee to send or receive crypto.

However, you will be charged a blockchain network fee ("gas fee") for every crypto transaction you send from your Schwab Crypto account to another wallet. This fee covers the cost of processing your transaction on the crypto network.

Please note that the network fee quote is valid for 5 minutes. After it expires, you'll be asked to retry the withdrawal.

Withdrawals (send crypto):

• Up to 3 withdrawals per 24 hours
• Maximum: $5,000 per transfer
• Minimum
  • Bitcoin (BTC): 0.00001093
  • Ethereum (ETH): 0.0001

Deposits (receive crypto):

• Maximum: $50M per month
• Minimum
  • Bitcoin (BTC): 0.00001
  • Ethereum (ETH): 0.0001

Additional limits and restrictions may apply based on various factors, including Schwab internal reviews.

Crypto transfers require a certain number of blockchain confirmations before they are credited to or debited from your account.

Required confirmations and estimated timing:

• Bitcoin: 3 confirmations (~30 minutes)
• Ethereum: 12 confirmations (~3 minutes)

Please note that processing times can be longer due to internal reviews.

Withdrawal limits are based on your account activity and cannot be manually increased at this time.

Schwab requires an extra level of protection for crypto transfers. To enroll in crypto transfers, you'll need to verify your identity and set up a passkey.

Your passkey protects your account by adding step-up authentication (SUA), which is an extra layer of security. You will use your passkey to authorize certain crypto transactions and activity, such as adding an address to your allowlist or sending crypto to an allowlisted address (i.e., an external wallet).

Only account owners enrolled in crypto transfers can send coins from your account.

An allowlist is a safety feature that requires you to add and verify a wallet address before using it to send crypto. After you add a new address to your allowlist, a minimum 24-hour cooldown period is required before it can be used. You can only send crypto to an allowlisted address after it has been approved. You are responsible for ensuring the correct ownership of the destination wallet. Crypto transfers that you submit to addresses on your allowlist cannot be reversed. Schwab may deny an address based on its internal reviews.

Once a crypto deposit has been confirmed and included in a block or a withdrawal has been successfully broadcast to the network, Transfer Details will display a link to a block explorer, a third-party site Schwab does not own or control. The privacy and security policies of the third-party site may differ from those of Schwab. Schwab is not responsible for the content or accuracy of information on third-party sites. A link to a block explorer is provided for informational purposes only.

Your assets may be lost and unrecoverable if you transfer an unsupported crypto asset or use an unsupported network. Before transferring crypto, make sure to double-check the asset, network, and wallet address. Only transfer supported assets over a supported network.

No. Crypto transfers are final. Once you send crypto, your transfer cannot be canceled or reversed. Before you submit your transfer, verify the asset, network, and wallet address. If in doubt, try sending a small amount first. Make sure to use the intended network and wallet address, and don't send crypto to anyone you don't know.

Yes, you legally own the cryptocurrency held in your Schwab Crypto account.

No, your Schwab Crypto account is not a deposit account and is not FDIC insured. The cryptocurrencies held in your account are not FDIC insured or SIPC protected.

However, subject to the satisfaction of certain conditions, cash (U.S. dollar) balances in your Schwab Crypto account are held in one or more omnibus deposit account(s) at Charles Schwab Premier Bank, SSB, and are insured on a "pass-through" basis, in aggregate, based on account ownership type by the FDIC up to the standard maximum deposit insurance amount of $250,000.

Note: The cash balances held in the omnibus deposit account(s) are not separately insured from any funds that may be held at Charles Schwab Premier Bank, SSB, as part of your participation in Schwab's Cash Features Program. These balances are aggregated based on account ownership type to determine whether a depositor has exceeded the $250,000 FDIC limit.

Schwab is always updating its technology, people, and protocols to keep your personal and financial information safe, from biometric authentication to specialists dedicated to privacy and security.

You can visit the SchwabSafe^® page to learn more about best practices and how to keep your account secure.

Cryptocurrencies that you hold in your Schwab Crypto account are custodied by Charles Schwab Premier Bank, SSB, in collaboration with a regulated third-party firm, Paxos Trust Company LLC, that provides sub-custody services.

Supported cryptocurrencies are stored in a mix of cold (offline) storage and hot (online) storage. The majority of cryptocurrency is held in cold storage, though some is held in hot wallets to support day-to-day operations.

To view the Schwab Crypto Account Agreement, go to the agreements page.

Yes, you will receive a monthly statement for your Schwab Crypto account, regardless of balance or activity.

You will also receive a tax form for your Schwab Crypto account, but only if you have at least one cryptocurrency sale in a given tax year.

No, uninvested cash within your Schwab Crypto account will not earn interest.

Yes, your Schwab Crypto account is covered by the Schwab Satisfaction Guarantee. You can learn more about the Schwab Satisfaction Guarantee on the Satisfaction Guarantee page.

At this time, you can't add a beneficiary to your Schwab Crypto account.

If your Schwab Crypto account was restricted and you have questions, you can contact us via chat, email, or phone at 866-295-0914.

For help with your Schwab Crypto account, you can contact us via chat, email, or phone at 866-295-0914.

To close your Schwab Crypto account, you can contact us via chat, email, or phone at 866-295-0914. Before Schwab can close your account, it must have a zero balance.