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  Charles Schwab High Yield Investor Checking

Charles Schwab High Yield Investor Checking

in Checking Accounts from Charles Schwab · Member fdic

Unaffiliated

Charles Schwab High Yield Investor Checking

Unaffiliated

in Checking Accounts from Charles Schwab · Member FDIC

Net Recommendation Score +75

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +75, equating to 4.5 on a 5 point rating scale.

+75

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Highlights
Community Rating

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Monthly Fee $0
ATM Fee: Out-of-Network $0
Minimum Balance to Avoid Monthly Fee $0
APY (Annual Percentage Yield) 0.03%

Charles Schwab High Yield Investor Checking Review

Charles Schwab High Yield Investor Checking is offered by Charles Schwab, a bank founded in 1971 and based in San Francisco, CA. Charles Schwab High Yield Investor Checking is available in 50 states (and Washington, DC).

Key Takeaways
  • Low APY. The maximum annual percentage yield for this account is only 0.03%.
  • $0 monthly fee. This account does not charge a monthly maintenance fee.
  • No minimum initial deposit. There is no minimum balance required to open an account.
  • No ATM fees. Charles Schwab High Yield Investor Checking does not charge fees on ATM transactions.
  • ATM fee reimbursements. This account will reimburse you for the ATM fees charged by other financial institutions.
  • Free bill pay. Pay your bills to practically anyone in the United States through Charles Schwab.
  • Hard credit pull. Charles Schwab may require a hard pull on your credit report to open a checking account.
Charles Schwab High Yield Investor Checking Pros & Cons
Pros Cons
  • ATM fees reimbursed.
  • No minimum balances.
  • Available in all 50 states.
  • Interest-yielding account.
  • Free debit card
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Online-only account with no access to physical branches.
  • Higher than average wire transfer fees.
Charles Schwab High Yield Investor Checking FAQ

Are checking accounts from Charles Schwab federally insured?

Yes, your Charles Schwab checking accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #57450). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What APY does Charles Schwab High Yield Investor Checking offer?

Charles Schwab High Yield Investor Checking Rates & Terms
Description
APY (Annual Percentage Yield) 0.03%

Charles Schwab High Yield Investor Checking offers an APY of 0.03% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $0.01.

What are the account minimums for Charles Schwab High Yield Investor Checking?

Charles Schwab High Yield Investor Checking does not require a minimum initial deposit.

Charles Schwab High Yield Investor Checking Account Minimums
Description Amount
Minimum Opening Deposit $0
APY Minimum Balance $0.01

What fees does Charles Schwab High Yield Investor Checking charge?

The good news is that this account does not have a monthly service charge.

Charles Schwab High Yield Investor Checking Fees
Description
ATM Fee: In-Network $0
Check Cashing Fee $10
Check Copy $0
Check Image Service $0
Debit Card Replacement Fee $0
Early Account Closure $0
Foreign Transaction Fee (Debit Card) 0%
Monthly Fee $0
NSF Fee $25
Online Bill Pay Fee $0
Overdraft Item Fee $25
Overdraft Protection Fee (per transfer) $0
Paper Statement Fee $0
Returned Deposit Fee (Domestic) $5
Returned Deposit Fee (International) $5
Stop Payment Fee $0
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - Domestic (Outgoing) $25
ATM Fee: Out-of-Network $0

What features and perks does Charles Schwab High Yield Investor Checking offer?

This account includes the following features:

  • ATM reimbursement - This account will reimburse you for the ATM fees charged by other networks.
  • Fraud monitoring - Charles Schwab High Yield Investor Checking monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
  • Free Bill Pay - Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - Charles Schwab High Yield Investor Checking allows you to manage your money online. This includes depositing checks in your account with your smartphone.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.
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Message From Charles Schwab

We are invested in you. For over 40 years, through good times and bad, Schwab has been there for investors. Whatever comes your way today, know that we will always be invested in your tomorrow. We're dedicated to protecting your account. We cover 100% of any losses in your Schwab accounts due to unauthorized activity. You won't find that kind of promise everywhere—but you will find it here. How you work with us is your choice. Schwab isn't one-size-fits-all. Whether managing your own investments or working with a dedicated advisor, you'll get the level of control and personal guidance you need.

Schwab Bank High Yield Investor Checking account is linked to a Schwab One brokerage account and built for investors – no monthly fees, no minimums. No monthly fees, no minimums, and a competitive APY means more money to invest.

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

APY Minimum Balance $0.01
Minimum Opening Deposit Starting at $0
Minimum Balance to Avoid Monthly Fee $0
ATM Fee: In-Network $0
Check Copy $0
Check Image Service $0
Debit Card Replacement Fee $0
Early Account Closure $0
Foreign Transaction Fee (Debit Card) 0%
Monthly Fee $0
Online Bill Pay Fee $0
Overdraft Protection Fee (per transfer) $0
Paper Statement Fee $0
Stop Payment Fee $0
Wire Transfer Fee - Domestic (Incoming) $0
ATM Fee: Out-of-Network $0
Check Cashing Fee $10
NSF Fee $25
Overdraft Item Fee $25
Returned Deposit Fee (Domestic) $5
Returned Deposit Fee (International) $5
Wire Transfer Fee - Domestic (Outgoing) $25
Bank Account Features
  • No ATM Fees
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • ATM Reimbursement
  • Nationwide ATM Network
  • Mobile Banking
  • Fraud Monitoring
  • IRAs
  • Debit Card
  • Bauer Financial A+/A Rating
  • FDIC Member
  • Online-Only Account
APY (Annual Percentage Yield) 0.03%

Charles Schwab High Yield Investor Checking Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +75, equating to 4.5 on a 5 point rating scale.

+75

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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