Last Updated: 01/21/2026
SuperMoney User Recommendation Score +89
Strongly recommended9 total votes
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Highlights
Community Rating
Strongly recommended
Welcome Offer
Starting at $0(Verified 06/21/2024)
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Cashback Rewards
N/A
APY (Annual Percentage Yield)
0.25%(Verified 06/21/2024)
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Monthly Service Fee
$0(Verified 01/21/2026)
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Number of Reviews
Charles Schwab High Yield Investor Checking Review
The Charles Schwab High Yield Investor Checking is offered by Charles Schwab, a bank founded in 1971 and based in San Francisco, CA. Charles Schwab Bank checking account is 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.
- No monthly maintenance fees. 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 when you enroll in Charles Schwab mobile or online banking.
Charles Schwab Bank checking account Pros & Cons
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Charles Schwab Bank checking account FAQ
Are checking accounts from Charles Schwab federally insured?
Yes, your deposits are insured 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?
| 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.
| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $0.01 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What fees does Charles Schwab Bank checking account charge?
The good news is that this account does not have a monthly Service Charge.
| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Monthly Service Fee | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Paper Statement Fee | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ATM Fee: In-Network | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ATM Fee: Out-of-Network (within the U.S.) | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NSF Fee | $25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Overdraft Item Fee | Starting at $25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Early Account Closure | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Returned Deposit Fee (Domestic) | Starting at $5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Card Replacement Fee (Standard Delivery) | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Check Cashing Fee | $10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Online Bill Pay Fee | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stop Payment Fee | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Check Image Service | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Check Copy | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Foreign Transaction Fee (Debit Card) | Starting at 0% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wire Transfer Fee - US Domestic (Outgoing) | Starting at $25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Returned Deposit Fee (International) | Starting at $5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wire Transfer Fee - US Domestic (Incoming) | Starting at $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 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 checks1 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.
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Message from Charles Schwab Bank checking account
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Learn MoreSuperMoney Net Recommendation Score
SuperMoney users strongly recommend this product, giving it a user recommendation score of +89, or 4.8 on a 5-point rating scale.
+89
-1000+100
No one recommends
Everyone recommends
Charles Schwab High Yield Investor Checking Community Reviews
Would you recommend Charles Schwab High Yield Investor Checking to your friends?
Katherine A.
Dec 16, 2023
May or may not recommend
Myself and several other family members use Schwab for our checking accounts. While it is primarily used for investing, they offer a superior banking experience to many of the others within my area. There are many benefits to Schwab. I can access my bank anywhere, at any time without needing to go to busy buildings during weekdays 9-5 hours. Schwab operates almost exclusively online making it easy to access ...Show More
Megan C.
Nov 23, 2023
May or may not recommend
Charles schwab is a great bank for investments! I have an investment and a checking account through them. They are very helpful when it comes to learning how to invest money. The checking account is good for transferring funds back and forth or setting up direct deposit.
Joyce H.
Jun 14, 2022
May or may not recommend
If you are an investor or trying to get into investments/stocks, I would highly recommend using this. Me and my husband opened an account with them and my husband has been loving their services. It is very convenient to move your finances to use into your investments or if you are not much into investment they still have a high interest rate (0.50%) compared to other banks (0.01%).
And one the ...Show More
KL
Kendra L.
Jun 3, 2022
May or may not recommend
I love my High Yield Investor checking account! My initial reservation with this account was that you have to open an investment account as well, you can’t just open a checking account. The investment account really does just sit there, though, you don’t have to do anything with it. I love being reimbursed for all of my atm fees each month, I get about $0.05 a month in interest per ...Show More
IC
Isa C.
May 4, 2022
May or may not recommend
It has been almost a year since I've had this card, and so far so good! It has become my favorite card for international travel. I have had no issue with foreign transaction fees like I have had with other banks. The mobile app is also very intuitive. It simple to manage my accounts and to deposit checks.
KN
Kodi N.
Sep 2, 2020
May or may not recommend
Best kept secret for international travelers! One of my friends that travels a lot told me about Charles Schwab. I couldn't believe it, but it's true. No fees on the checking account, no minimum balance, no foreign transaction fees and you can use ATMs worldwide. Charles Schwab is primarily an investment company so it's linked to a brokerage account, but you should be investing anyway. The only problem is that ...Show More
Boris V.
Dec 15, 2018
May or may not recommend
No fees whatsoever. Unlimited ATM fee refunds. No overdraft fees. Free checks.
U
Anonymous
Apr 25, 2015
May or may not recommend
I really like this bank. I have been a customer since 2010 and do not plan on leaving this bank if they keep running the show like they've been doing it. I use their visa platinum debit card for travel because they refund atm fees worldwide! Free checks, free bill pay, online transfers to other accounts
U
Anonymous
Apr 18, 2015
May or may not recommend
I love Schwab and really don't think there is a better bank around. Their customer service reps are the nicest people I have ever talked to and I love all of the features and options I get with my account. Very highly recommended.
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