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Online Checking Account with Free Checks and ATM Fee Rebates | Schwab Bank

Schwab Bank High Yield Investor Checking® Account

Linked to a Schwab One® brokerage account, our no-ATM-fee1 checking account can make managing all your finances simpler. Ready to get started?

Choose an account type:

Need help? Call 800-540-6718.

  • Unlimited ATM fee rebates worldwide1
  • No monthly fees or account minimums
  • APY on your account balance2

Checking Accounts: How Schwab Bank Compares

Charles Schwab Bank Bank of America Chase Citibank Wells Fargo
Checking Account High Yield Investor Checking Bank of America Advantage Relationship BankingTM Premier Sapphire Checking Citigold Interest Checking Portfolio® by Wells Fargo
Annual Percentage Yield 0.01-0.02%

Below $50K: 0.01%

$50K+: 0.02%
0.01%

$0 - $24,999.99: 0.01%

$25K - $49,999.99: 0.01%

$50K+: 0.01%
0.03%

Below $25K: 0.03%

$25K - $49,999.99: 0.03%

$50K+: 0.03%
0.01-0.05%

$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

$10K minimum daily balance

Waived if

$75K minimum daily balance

Waived if

$200K Minimum daily balance

Waived if

$10K minimum daily balance

Waived if
ATM Rebates Unlimited1 Limited Unlimited Unlimited Unlimited
Foreign Transaction Fees $03 3% of transaction amount $0 $0 3% of transaction amount

Annual percentage yields on competitor accounts as of 10/17/2019. 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 DepositTM,4
  • Free Schwab BillPay® on Schwab.com and Schwab Mobile5
  • Free standard checks and a Schwab Bank Visa® Platinum Debit Card
  • FDIC insurance up to $250,0006
  • A linked Schwab One® Brokerage Account
  • Ability to link to Apple Pay®, Google Pay, and Samsung Pay when you set up your compatible devices7
  • Convenient and more secure online purchases when you enroll your Schwab Bank Visa® Platinum Debit Card with Visa Checkout

Choose an account type:

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.

Do I get a Schwab One® brokerage account with my High Yield Investor Checking account?

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.

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

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. 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

Choose an account type:

Helpful Resources

Ratings and Reviews

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  1. 5 out of 5 stars.

    Great for a small investor also

    Great account for even a smaller investor like myself. Better features than any bank in town. Online control is amazing. It took a bit to get set up, but sooooo worth it.

    14 people found this review helpful. 6 people did not find this review helpful.
  2. 5 out of 5 stars.

    Great job

    My experience with Schwab has been excellent in all areas.

    11 people found this review helpful. 6 people did not find this review helpful.
  3. 5 out of 5 stars.

    Perfect for travelers

    Knowing I can access my accounts anywhere in the world offers so much peace of mind. The ATM fee refund fee at the end of the month is a life saver and if I have any trouble at all, their customer service is top notch.

    20 people found this review helpful. 4 people did not find this review helpful.
  4. 5 out of 5 stars.

    Great!

    Schwab meets my expectation.

    9 people found this review helpful. 4 people did not find this review helpful.
  5. 5 out of 5 stars.

    Outstanding Bank

    The service from Schwab Bank is always the best. They offer every feature I need with the best customer service

    14 people found this review helpful. 37 people did not find this review helpful.
1–5 of 671 Reviews