Charles Schwab Bank High Yield Investor Savings Account Review

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

Are savings accounts from Charles Schwab federally insured?

Yes, your Charles Schwab savings 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 offer?

Charles Schwab Bank High Yield Investor Savings Account offers an APY of 0.4% (APY stands for annual percentage yield, rates may change).

What features and perks does Charles Schwab Bank High Yield Investor Savings Account offer?

This account includes the following features:

• Automatic savings - Set up an automatic transfer from your checking account to a savings account and you'll never have to second-guess your saving decisions again.
• ATM reimbursement - This account will reimburse you for the ATM fees charged by other networks. Typically there is a limit to how much you can claim for these costs, so check the fine print if you plan to make multiple withdrawals within one month.
• Check images with statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks.
• Fraud monitoring - Charles Schwab Bank High Yield Investor Savings Account 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 receive ebills directly to your account and pay them easily from your account.
• Nationwide ATM network - Withdraw money and check your balance from wherever you are.

What fees does Charles Schwab Bank High Yield Investor Savings Account charge?

Charles Schwab Bank High Yield Investor Savings Account does not charge a monthly maintenance fee. See the fee breakdown section below to view all fees.

• Outgoing domestic bank transfers come with a $25 fee.