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Schwab Bank High Yield Investor Savings

Schwab Bank High Yield Investor Savings® Account

Open our High Yield Investor Savings account to make managing finances simpler. Ready to get started?

Download an Application

Need help? Call 800-540-6718.

  • APY on your account balance1
  • Unlimited ATM fee rebates worldwide2
  • No monthly fees or account minimums

Savings Accounts: How Schwab Bank Compares

Charles Schwab Bank Bank of America Chase Citibank Wells Fargo
Savings Account High Yield Investor Savings Rewards Savings Chase Premier Savings Citigold Savings Platinum Savings
Annual Percentage Yield

for all clients

0.04%

Rates vary with account balance

0.04%

Rates vary with account balance

0.04%

Rates vary with account balance

0.05%

Rates vary with account balance
Minimum Opening Deposit $0 $100 $100 $0 $25
Monthly Fee $0 $8 $25 $0 $12
Minimum Balance Required to Waive Monthly Fee

$0

$500 Minimum Daily Balance

Waived if

$15,000 Minimum Daily Balance

Waived if

$200,000 Minimum Daily Balance

Waived if

$3,500 Minimum Daily Balance

What do I get with this savings account?

  • No account minimums, no monthly service fees
  • A APY variable interest rate on any balance1
  • A Schwab Bank Visa® Platinum Debit Card (also known as a "check card")
  • Unlimited fee rebates from any ATM worldwide2
  • An easy way to access, transfer, and manage your cash3
  • Powerful mobile apps to access your account or transfer money4
  • Check deposit from anywhere with Schwab Mobile Deposit™4
  • FDIC-insured savings (up to $250,000)5
  • Ability to sign up for direct deposit

Download an Application

Download the Schwab Bank Deposit Account Pricing Guide and Account Agreement

Download the Visa Debit Card Agreement

Download the Visa Debit Card Benefits

FAQs related to our High Yield Investor Savings account.

Have questions about our savings 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?

Simply download and complete an application and mail it back to us, or call 800-540-6718 anytime for assistance.

Return Instructions:

  • Upload online with secure messaging (if you are an existing client and have online access to your account).
    1. 1. Go to Schwab.com and log in to your account.
    2. 2. Click the Message Center link (under Service), and then click the Upload Document link.
    3. 3. Upload your form as an attachment by clicking the Add File button.
    4. 4. When your message is complete, click Send.
  • Fax to 888-526-7252
  • Bring to your nearest Schwab branch (visit Schwab.com/branch for locations).
  • Mail to any of the following addresses:
    • Regular Mail (West)
      Charles Schwab & Co., Inc.
      P.O. Box 982600
      El Paso, TX 79998-2600
    • Regular Mail (East)
      Charles Schwab & Co., Inc.
      P.O. Box 628291
      Orlando, FL 32862-8291
    • Overnight Mail (West)
      Charles Schwab & Co., Inc.
      1945 Northwestern Drive
      El Paso, TX 79912
    • Overnight Mail (East)
      Charles Schwab & Co., Inc.
      1958 Summit Park Drive, Ste. 200
      Orlando, FL 32810
Can I access my money with an ATM card?

Yes. Funds in your High Yield Investor Savings account can be accessed with the Schwab Bank Visa® Platinum Debit Card (also known as a “check card”). You'll have no ATM fees, since we reimburse any ATM fees you are charged.2 And you can use your Visa debit card at any Plus® or Visa ATM worldwide.

How do I make my initial deposit to my High Yield Investor Savings account?

There are several ways you can make a deposit:

  • Transfer funds to your savings account online from a Schwab One® brokerage account or High Yield Investor Checking® account.
  • Set up direct deposit into your High Yield Investor Savings account.
  • Apply for Schwab Mobile Deposit™ to make deposits from anywhere.4
  • 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.6 If for any reason you're not completely satisfied, we'll work with you to make things right.

Take the next step.

Call
800-540-6718
or

Download an Application

Helpful Resources