Schwab Bank: Deposit Solutions
Help your clients manage everyday expenses, while also staying focused on their long-term saving and investing goals.
Everyday cash
A Schwab Bank Investor Checking™ account lets your clients conveniently manage everyday expenses and seamlessly move money when linked to a Schwab brokerage account.
Features of the Schwab Bank Investor Checking account include:
- Easy transfers from a linked Schwab One® brokerage account1
- Unlimited ATM fee rebates2 and no foreign transaction fees3
- No monthly account service fees
- Free standard checks 4, mobile check deposit5, online and mobile Bill Pay6, Schwab Bank Visa® Platinum debit card, and mobile wallets such as Apple Pay®, Samsung Pay®, and Google Pay™7
- FDIC-insured up to $250,000 per depositor for each account ownership category8
Savings and investment cash
For a competitive rate, consider offering the Schwab Bank Investor Savings™ account. Clients may receive a more attractive yield while maintaining easy access to their cash.
Features of the Schwab Bank Investor Savings account include:
- Competitive yield regardless of balance—and keeps liquid savings growing9
- No monthly account service fees
- Check deposit from anywhere with Schwab Mobile Deposit10
- FDIC–insured up to $250,000 per depositor for each account ownership category8
Want more? Count on it
Learn more about our holistic bank and trust solutions that can help your clients make the most of their money.
Already custody with Schwab?
Ready to take advantage of banking, lending, and trust services to support your clients in even more ways with Schwab?
Learn more in the Service Guide, contact your Regional Banking Manager, or call 800-986-3700.
Ready to talk with us?
Access to streamlined banking in one place with Schwab Bank is just another reason why so many RIAs consider Schwab a custodian of choice.
Get in touch with us today to learn more about all the ways we can support you.
Investment and Insurance Products Are: Not FDIC Insured • Not Insured by Any Federal Government Agency • Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or any of its Affiliates • Subject to Investment Risks, Including Possible Loss of Principal Amount Invested |
1. 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.
2&3. 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.
4. 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.
5. 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.
6. 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.
7. 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.
Apple, the Apple logo, iPhone, and iPad are trademarks of Apple Inc., registered in the U.S. and other countries. Apple Pay, Touch ID and Apple Watch are trademarks of Apple Inc.
Samsung, Samsung Pay, Samsung Gear, Galaxy S and Gear S (and other device names) are trademarks or registered trademarks of Samsung Electronics Co., Ltd. Use only in accordance with law. Other company and product names mentioned may be trademarks of their respective owners. Samsung Pay is available on select Samsung devices. Android, Google Play, and Google Pay are trademarks of Google Inc. Use of these trademarks are subject to Google Permissions.
8. 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).
9. The Schwab Bank Investor Savings™ account, with a minimum balance of $0.01, offers a 0.15% annual percentage yield (APY) as of 8/11/2024. This rate is variable and may change without notice.
10. The Schwab Mobile application and Schwab Mobile Deposit service is available for Schwab Bank Investor Savings clients who also have a Schwab brokerage account. 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.
Charles Schwab & Co., Inc. and Charles Schwab Bank, SSB are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation. Brokerage products and services are offered by Charles Schwab & Co., Inc., Member SIPC. Deposit and lending products and services are offered by Charles Schwab Bank, SSB, Member FDIC and an Equal Housing Lender.