Schwab Bank High Yield Investor Checking Account®
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?
Need help? Call 800-540-6718.
- Unlimited ATM fee rebates worldwide1
- No service fees or account minimums
- APY on your account balance2
| Charles Schwab Bank | Bank of America | Chase | Citibank | Wells Fargo | |
|---|---|---|---|---|---|
| Checking Account | High Yield Investor Checking | Interest Checking | Premier Platinum Checking | Citigold Interest Checking | Portfolio by Wells Fargo |
| Annual Percentage Yield | 0.01% Below $50K: 0.01% $50K+: 0.02% |
0.01% $0 - $24,999.99: 0.01% $25K - $49,999: 0.01% $50K+: 0.01% |
0.03% Below $25K: 0.03% $25K - $49,999.99: 0.03% $50K+: 0.03% |
0.01% $0 - $4,999.99: 0.01% $5,000 or more: 0.05% |
|
| Monthly Fee | $0 | $25 | $25 | $0 | $30 |
| Minimum Balance Required to Waive Monthly Fee |
$0 Linked to a Schwab One® brokerage account3 |
$10K minimum daily balance Waived ifLink Checking, or Preferred Rewards client |
$75K minimum daily balance Waived ifVarious linked accounts |
$200K Minimum daily balance Waived ifNo monthly fee, to qualify for a Citigold, maintain a balance of $200K+ in eligible linked, retirement and investment accounts |
$25K minimum daily balance Waived if$25K+ in qualifying linked bank deposits, or $10K+ in qualifying, linked balances on the last day of the second monthly statement period $50K+ in qualifying linked bank, brokerage and credit balances |
| ATM Rebates | Unlimited1 | No | Unlimited | Unlimited | Unlimited |
| Foreign Transaction Fees | $03 | 3% of transaction amount | 3% of transaction amount | $0 | 3% of transaction amount |
More information about the above accounts may be found on the respective competitor websites. We believe the above competitor information to be reliable, but neither Schwab Bank nor its affiliates guarantee its accuracy, timeliness, or completeness.
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:
- Check deposit from anywhere with Schwab Mobile Deposit™
- Free bill pay on Schwab.com and Schwab Mobile4
- Free standard checks and a Schwab Bank Visa® Platinum Debit Card
- FDIC insurance up to $250,0005
- A linked Schwab One® Brokerage Account
- Ability to link to Apple Pay®, Google Pay, Microsoft Wallet, and Samsung 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
To learn about other Schwab Bank checking accounts please contact us at 888-403-9000.
View High Yield Investor Checking Account Features and Fees6
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.
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.
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.7 If for any reason you’re not completely satisfied, we’ll work with you to make things right.
Take the next step.
Helpful Resources
Download an application.
Learn how your assets are protected.
See all Schwab accounts.
The Schwab Bank High Yield Investor Checking® account is available only as a linked account with a Schwab One® brokerage account. The Schwab One brokerage account has no minimum balance requirements, and there is no requirement to fund this account, when opened with a linked High Yield Investor Checking account. To learn more about other Schwab Bank checking accounts, please contact Schwab Bank at 888-403-9000.
1. Unlimited ATM fee rebates apply to cash withdrawals using your Visa debit card wherever it is accepted. ATM fee rebates do not apply to any fees other than those 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.
2. The Schwab Bank High Yield Investor Checking® account, with a minimum balance of $0.01, offers a annual percentage yield (APY) as of . This rate is variable and may change without notice.
3. Schwab Bank does not assess foreign transaction fees (i.e., a fee to convert US Dollars to local currency) to debit cardholders.
4. 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.
5. 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).
6. For details, refer to the Schwab Bank Deposit Account Pricing Guide and Account Agreement.
7. If you are not completely satisfied for any reason, at your request Charles Schwab & Co., Inc. (“Schwab”) or Charles Schwab Bank (“Schwab Bank”), as applicable, will refund any eligible fee related to your concern within the time frames described below. Two kinds of “Fees” are eligible for this guarantee: (1) asset-based “Program Fees” for the Schwab Private Client (“SPC”), Schwab Managed Portfolios (“SMP”), Schwab Intelligent Advisory (“SIA”), and Managed Account Connection (“Connection”) investment advisory services sponsored by Schwab (together, the “Participating Services”); and (2) commissions and fees listed in the Charles Schwab Pricing Guide for Individual Investors and the Schwab Bank Deposit Account Pricing Guide (together, “Account Fees”). Program Fee refund requests must be received no later than the next calendar quarter after the Fee was charged. Account Fee refund requests must be received within one year of the date that the Fee was charged.
Program Fees are calculated as a percentage of eligible assets in Participating Service accounts. For more information about Program Fees, please see the disclosure brochure for the Participating Service, made available at enrollment or any time at your request. The Connection service includes only accounts managed by investment advisors affiliated with Schwab: Windhaven Investment Management, Inc., ThomasPartners, Inc., and Charles Schwab Investment Management, Inc. The guarantee does not cover Program Fees for accounts managed by investment advisors who are not affiliated with Schwab or managed by Schwab-affiliated advisors outside of the SPC, SMP, SIA, and Connection services.
The guarantee is only available to current clients. Refunds will only be applied to the account charged and will be credited within approximately four weeks of a valid request. No other charges or expenses and no market losses will be refunded. Other restrictions may apply. Schwab reserves the right to change or terminate the guarantee at any time.
Charles Schwab & Co., Inc. and Charles Schwab Bank are separate but affiliated companies and wholly owned subsidiaries of The Charles Schwab Corporation. Brokerage products and services are offered by Charles Schwab & Co., Inc., member SIPC. Deposit and lending products and services are offered by Schwab Bank, member FDIC and an Equal Housing Lender.
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Information about Clients Speak™, Ratings and Reviews by Schwab clients
Ratings and reviews are submitted by clients voluntarily and are screened for acceptance in accordance with the Publishing Guidelines prior to publication. Please see the Publishing Guidelines for details regarding which reviews are published.
The average rating scores are based on published reviews for the indicated account(s) and services and do not incorporate ratings and reviews that do not satisfy the Publishing Guidelines. Ratings and reviews are added continuously and average ratings are updated dynamically as reviews are added or removed. During the period from 1/1/2013 to 8/21/18, 3,847 reviews were submitted, 3,231 were accepted, and 616 were not accepted for publication in accordance with the Publishing Guidelines. Sorting of reviews by "Featured Reviews" first shows reviews selected by Charles Schwab & Co., Inc. and Schwab Bank based on subjective criteria deemed relevant at the time of selection including marketing priorities.
Ratings and opinions expressed by clients are not meant to suggest future performance or the suitability of any account type, product, or service for any particular client and may not be representative of the experience of other clients. Charles Schwab & Co., Inc. and Schwab Bank cannot guarantee the accuracy of the information included in client reviews.
Ratings and Reviews are powered by Bazaarvoice, a third-party vendor not affiliated with Charles Schwab & Co., Inc. or Schwab Bank.
If you have additional questions or concerns about Ratings & Reviews or would like to verify its authenticity, please contact a Schwab representative at either 800-435-4000, the phone number on your statement, or by email at ratingsandreviews@schwab.com.
The following disclosure is for Schwab Brokerage:
Options carry a high level of risk and are not suitable for all investors. Certain requirements must be met to trade options through Schwab. Please read the options disclosure document titled “Characteristics and Risks of Standardized Options.”
Multiple-leg options strategies will involve multiple commissions.
With long options, investors may lose 100% of funds invested. Multiple-leg options strategies will involve multiple commissions. Spread trading must be done in a margin account. Covered calls provide downside protection only to the extent of the premium received and limit upside potential to the strike price plus premium received. Writing uncovered options involves potentially unlimited risk.
Supporting documentation for any claims or statistical information is available upon request.
Please contact a tax advisor for the tax implications involved in any options strategies referenced.
Schwab Trading Services includes access to StreetSmart® trading platforms, the Schwab Trading Community, and priority access to Schwab trading specialists. Call 888-245-6864 to request access (a Schwab brokerage account is required). There are no fees to use Schwab Trading Services. Other account fees, optional data fees, fund expenses, and brokerage commissions may apply. Schwab reserves the right to restrict or modify access at any time. Access to electronic services may be limited or unavailable during periods of peak demand, market volatility, systems upgrades or maintenance, or for other reasons.
Restrictions apply: The standard online $4.95 commission does not apply to foreign stock transactions, large block trading transactions requiring special handling, or restricted stock transactions. All broker-assisted and automated phone trades are subject to service charges. See the Charles Schwab Pricing Guide for details. Employee equity compensation transactions are subject to separate commission schedules.
CC1200016 (06/18) (0618-8ML1)