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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
SuperMoney Net Recommendation Score +86  

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +86, equating to 4.7 on a 5 point rating scale.

+86

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.

Strongly recommended

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2 reviews
Highlights
Community Rating Strongly recommended
Cashback Rewards N/A
APY (Annual Percentage Yield) 0.25%
(Verified 08/05/2022)
Monthly Fee $0
Minimum Balance to Avoid Monthly Fee Starting at $0
Number of Reviews 7

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 are available in 50 states (and Washington, DC).

Key Takeaways

  • Higher than average APY. Charles Schwab High Yield Investor Checking has an annual percentage yield of up to 0.25%, which is higher than the national average interest rate on savings accounts. Note that you must keep a minimum balance of $0.01.
  • $0 monthly fee. This account does not charge any monthly account fees.
  • No minimum initial deposit. There is no minimum balance required to open an account online.
  • No ATM fees. Charles Schwab High Yield Investor Checking does not charge fees on ATM transactions.
  • ATM fee rebates. This account will reimburse you for ATM fees (see terms and conditions for details).
  • Bill pay. Pay your bills to practically anyone in the United States through Charles Schwab.

Charles Schwab Bank checking account 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 Bank checking account FAQ

Are checking accounts from Charles Schwab federally insured?

Yes, your deposits 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 Bank checking account offer?

Charles Schwab High Yield Investor Checking Rates & Terms
Description
APY (Annual Percentage Yield) 0.25%

Charles Schwab Bank checking account offers an APY of 0.25% (APY stands for annual percentage yield, rates may change). However, to earn interest account holders must keep an average beginning day balance of $0.01.

What are the account minimums for Charles Schwab Bank checking account?

Charles Schwab Bank checking account does not require a minimum initial deposit.

Charles Schwab High Yield Investor Checking Minimums
Description
Minimum Opening Deposit Starting at $0
Minimum Balance to Avoid Monthly Fee Starting at $0
Minimum Balance to Earn APY $0.01

What fees does Charles Schwab Bank checking account charge?

The good news is that this account does not have a monthly Service Charge.

Charles Schwab High Yield Investor Checking Fees
Description
Monthly Fee $0
ATM Fee: In-Network $0
ATM Fee: Out-of-Network Starting at $0
Foreign Transaction Fee (Debit Card) 0%
NSF Fee $25
Overdraft Item Fee $25
Overdraft Protection Fee (per transfer) $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
Paper Statement Fee $0
Online Bill Pay Fee $0
Check Copy $0
Check Image Service $0
Check Cashing Fee $10
Debit Card Replacement Fee $0
Early Account Closure $0

Does Charles Schwab Bank checking account charge overdraft fees?

Yes, Charles Schwab Bank checking account charges a $25 fee for every overdraft.

What features and perks does Charles Schwab Bank checking account offer?

This account includes the following features:

  • ATM rebates - This account will reimburse you for any domestic ATM fees.
  • Fraud monitoring - Charles Schwab Bank checking account monitors transactions for potentially unauthorized activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
  • Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - Charles Schwab Bank checking account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.

What is the customer support email for Charles Schwab Bank checking account?

The customer support email for Charles Schwab Bank checking account is accessibilityhelp@schwab.com.

How do people rate the customer service and user experience of Charles Schwab Bank checking account?

Overall, Charles Schwab Bank checking account is strongly recommended based on community reviews that rate customer service and user experience.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Charles Schwab Bank checking account

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

Feature Breakdown

Minimum Opening Deposit Starting at $0
Minimum Balance to Avoid Monthly Fee Starting at $0
Minimum Balance to Earn APY $0.01
Monthly Fee $0
ATM Fee: In-Network $0
ATM Fee: Out-of-Network Starting at $0
Foreign Transaction Fee (Debit Card) 0%
NSF Fee $25
Overdraft Item Fee $25
Overdraft Protection Fee (per transfer) $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
Paper Statement Fee $0
Online Bill Pay Fee $0
Check Copy $0
Check Image Service $0
Check Cashing Fee $10
Debit Card Replacement Fee $0
Early Account Closure $0
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of Identity
  • Government Issued Photo ID
  • Social Security Number
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
  • Member FDIC
  • Online-Only Account
Signup Bonus Starting at $0
APY (Annual Percentage Yield) 0.25%
(Verified 08/05/2022)

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 +86, equating to 4.7 on a 5 point rating scale.

+86

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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