Schwab Bank: Cash Management

Investors should consider carefully information contained in the prospectus or, if available, the summary prospectus, including investment objectives, risks, charges, and expenses. You can view and download a prospectus by visiting www.schwabassetmanagement.com/prospectus. Please read it carefully before investing.

1. The Funds' Investor Shares have no initial investment minimum; however, Schwab systems require a minimum of $1 per trade.

2. Fund expenses and other fees may apply.

3. Schwab will usually receive a placement fee from the issuing institution in connection with the purchase of a CD. CDs from Schwab CD OneSource are issued by FDIC-insured institutions and are subject to change and system access. Unlike mutual funds, certificates of deposit offer a fixed rate of return and are FDIC insured up to $250,000, per depositor per institution, based on account ownership type. Visit www.fdic.gov for details. There may be costs associated with early redemption and possible market value adjustment.

4. Bank Sweep deposits are held at one or more FDIC-insured Program Banks. Please review the Cash Features Program Disclosure Statement for a list of the Program Banks.

5. Schwab One Interest and Bank Sweep are the two primary cash features. The Money Fund Sweep feature is an additional cash feature available to certain accounts. Please note that Schwab One Interest and the Money Fund Sweep feature are not FDIC-insured.

6 & 7. ​Unlimited ATM fee rebates apply to cash withdrawals using the Schwab Bank Visa^® Platinum Debit Card wherever it is accepted. ATM fee rebates do not include any fees imposed by merchants or ATM operators for POS transactions, or fees for stamp purchases, balance inquiries, non-local ATM currency withdrawal fees (referred to as dynamic currency conversion fees), or any other transaction other than an ATM cash withdrawal in local currency from your Schwab Bank account. Schwab Bank makes its best effort to identify those ATM fees eligible for rebate, based on information it receives from Visa and ATM operators. In the event that you have not received a rebate for a fee that you believe is eligible, please call a Schwab Bank Client Service Specialist for assistance at 1‐888‐403‐9000 (or for clients of independent investment advisors, a Schwab Alliance Service team Member at 1-800-515-2157). Schwab Bank reserves the right to modify or discontinue the ATM surcharge rebate at any time.

If you use your Card to withdraw foreign currency from an ATM, or to pay for a purchase with foreign currency, Schwab Bank charges your account for the U.S. dollar equivalent of the transaction. Depending on the specific arrangements that are in place, the exchange rate and calculation of the U.S. dollar equivalent will be done by the bank at which you conduct the transaction, the network to which the ATM belongs, or Visa. The bank or network may also charge a fee. Schwab Bank does not assess foreign transaction fees (i.e., a fee to convert US dollars to local currency) to debit card holders. See the Schwab Bank Visa Debit Card Agreement for details.

8. ​Limited styles only. Schwab Bank checks will be sent to the address on file between 7-10 business days after your account is funded with a minimum of $100.

9. ​The Schwab Mobile Deposit service is subject to certain eligibility requirements, limitations, and other conditions. Enrollment is not guaranteed. Standard hold policies apply. Requires a wireless signal or mobile connection. Access to Electronic Services may be limited or unavailable during periods of peak demand, market volatility, systems upgrade, maintenance, or for other reasons. Functionality may vary by operating system and/or device. Mobile carrier data charges may apply.

10. Funds deposited at Charles Schwab Bank, SSB, are insured, in aggregate, up to $250,000, based on account ownership type, by the Federal Deposit Insurance Corporation (FDIC).

11. ​The Schwab Bank Investor Checking account is available only as a linked account with a Schwab One^® brokerage account. The Schwab One brokerage account has no minimum balance requirements, no minimum balance charges, no minimum trade requirements, and there is no requirement to fund this account when opened with a linked Investor Checking account. To learn more about other Schwab Bank checking accounts, please contact Schwab Bank at 888-403-9000.

12. Requires a wireless signal or mobile connection. Access to Electronic Services may be limited or unavailable during periods of peak demand, market volatility, systems upgrade, maintenance, or for other reasons. Functionality may vary by operating system and/or device. Mobile carrier data charges may apply.

13. Use of your card through a mobile wallet is also subject to the terms and conditions of your Schwab Bank Deposit Account Agreement (which contains information on any potential liability for unauthorized transactions), your Visa Debit Card Agreement, the terms and conditions of the mobile wallet you use, the privacy notice set forth at Schwab.com, and the privacy notice of the mobile wallet you use.

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You could lose money by investing in the Schwab Money Funds. All Schwab Money Funds seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. All Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab Retirement Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund, and Schwab Government Money Market Portfolio may impose a fee upon the sale of your shares if the Fund's board or its delegate determines that the fee is in the best interests of the Fund. An investment in the Schwab Money Funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Schwab Money Funds' sponsor has no legal obligation to provide financial support to the Funds, and you should not expect that the sponsor will provide financial support to the Funds at any time.