Cash Management

Through Schwab, your clients have access to a wide spectrum of competitive cash solutions to meet both their short- and long-term needs. Savings and investment cash products provide a range of competitive options that earn a potentially higher yield, help your clients preserve principal, and provide easy access to their funds. Everyday cash products are ready for use to purchase investments, such as stocks and bonds, and are also available for paying bills and expenses.

Products offered through a Schwab Brokerage Account

Savings and investment cash

Schwab Purchased Money Funds

  • Convenient access to potentially higher yields on cash
  • Broad choice of prime, government, and municipal money funds
  • Investment minimums as low as $11
  • No transaction fees2
  • Cash is available next business day when shares are sold by 4:00 p.m. ET

Brokerage Products: Not FDIC-Insured • No Bank Guarantee • May Lose Value

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

You could lose money by investing in the Schwab Money Funds. All Schwab Money Funds with the exception of Schwab Variable Share Price Money Fund seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. Because the share price of the Schwab Variable Share Price Money Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. All Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Fund, Schwab Government Money Market Portfolio, and Schwab Retirement Government Money Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the Schwab Money Funds is not insured or guaranteed by the FDIC 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.

CDs from Schwab CD OneSource®

  • Clients can protect principal and earn an attractive, fixed rate of return with CDs from Schwab CD OneSource®
  • One-stop marketplace for CDs3
  • Fixed term—30 days or more
  • Easy online transactions in client's Schwab account or through an Advisor Bond Specialist

Everyday cash

Bank Sweep

  • The sweep feature for the majority of domestic retirement and non-retirement accounts
  • Earns interest on uninvested cash in a brokerage account and is ready for purchasing investments
  • Cash in the Bank Sweep feature is available immediately for same-day transactions
  • FDIC-insured up to $500,0004

Schwab One Interest

  • Pays interest on uninvested cash in a brokerage account
  • Available to taxable accounts and IRAs
  • Eligible for SIPC coverage5

In addition, any uninvested cash in a Schwab brokerage account can be accessed through attractive payment features, such as:

  • Unlimited ATM fee rebates6 and no foreign transaction fees7
  • No monthly account service fees
  • Free checks,8 debit card, and online Bill Pay

Products offered through Schwab Bank

Savings and investment cash

Schwab Bank High Yield Investor Savings®

  • Offers a competitive yield regardless of balance—and keeps liquid savings growing9
  • No minimum balance or monthly account service fees
  • Check deposit from anywhere with Schwab Mobile Deposit10
  • FDIC-insured up to $250,00011

Everyday cash

Schwab Bank High Yield Investor Checking®

  • Offers easy transfers from your client's checking account to your client’s linked Schwab One® brokerage account12
  • Unlimited ATM fee rebates6 and no foreign transaction fees7
  • No monthly account service fees or minimums
  • Free standard checks,8 mobile check deposit,13 online and mobile Bill Pay,13 Schwab Bank Visa® Platinum debit card, and mobile wallets such as Apple Pay®, Samsung Pay®, and Google PayTM14 
  • FDIC-insured up to $250,00011

Have questions?

Contact us to find a local representative.

 

(0721-1HT7)

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 certificate of deposit (CD).

CDs available through Schwab CD OneSource typically offer a fixed rate of return, although some offer variable rates. They are FDIC-insured up to $250,000 per depositor per institution, based on account ownership type and offered through Charles Schwab & Co., Inc. CDs from Schwab CD OneSource are issued by FDIC institutions, and are subject to change and system access. Unlike mutual funds, CDs offer a fixed rate of return and are FDIC-insured. 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 banks ("Affiliated Banks") that are affiliated with Charles Schwab & Co., Inc. Funds deposited at Affiliated Banks are insured, in aggregate, up to $250,000 per Affiliated Bank, per depositor, for each account ownership category, by the Federal Deposit Insurance Corporation (FDIC). Securities products and services (including unswept or intra-day cash, net credit or debit balances, and money market funds) offered by Charles Schwab & Co., Inc. (member SIPC) are not deposits or obligations of the Affiliated Banks, are subject to investment risk, are not FDIC insured, may lose value, and are not Affiliated Bank-guaranteed. Charles Schwab & Co., Inc. and the Affiliated Banks are separate entities and are all affiliates of The Charles Schwab Corporation.

5. Schwab One Interest is not a bank account and is not FDIC-insured. Charles Schwab & Co., Inc. is a member of the Securities Investor Protection Corporation (SIPC), which provides up to $500,000 (including $250,000 for claims for cash) of coverage when aggregated with other securities and cash held by you in the same capacity at Charles Schwab & Co., Inc. SIPC coverage protects eligible brokerage assets up to applicable limits in the case of a brokerage firm’s insolvency. It does not protect against investment losses.

6. Unlimited ATM surcharge rebates apply to cash withdrawals using the Schwab One Visa® Platinum Check Card or the Schwab Bank Visa® Platinum Debit Card at ATMs where they are accepted. ATM surcharge rebates do not apply to any fees other than surcharges assessed for using an ATM to withdraw cash in local currency from your client’s Charles Schwab & Co., Inc. Schwab One brokerage account or your client’s Charles Schwab Bank, SSB account. Charles Schwab & Co., Inc. and Charles Schwab Bank, SSB make their best efforts to identify those ATM surcharges eligible for rebate, based on information they receive from Visa and from ATM operators. In the event that your client has not received a rebate for an eligible surcharge fee, your client should call a Schwab One Client Service Specialist at 1-800-421-4488 or a Schwab Bank Client Service Specialist at 1-888-403-9000. Charles Schwab & Co., Inc. and Charles Schwab Bank, SSB reserve the right to modify or discontinue this ATM surcharge rebate at any time. 

7. If you use your card to withdraw foreign currency from an ATM or to pay for a purchase with foreign currency, we charge your account for the U.S. dollar equivalent of the transaction. Depending on the specific arrangements that are in place, the exchange rate will be determined by the bank at which your client conducts the transaction, the network to which the ATM belongs, or Visa®.  

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 Bank High Yield Investor Savings account, with a minimum balance of $0.01, offers a 0.05% annual percentage yield (APY) as of 9/15/2021. This rate is variable and may change without notice. 

10. The Schwab Mobile Deposit service is subject to certain eligibility requirements, limitations, and other conditions. Enrollment is not guaranteed. Standard hold policies apply. The Schwab Mobile application and Schwab Mobile Deposit service is available for Schwab Bank High Yield 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. 

11. 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).  

12. The Schwab Bank High Yield 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, minimum balance charges, minimum trade requirements, and there is no requirement to fund this account, when opened with a linked High Yield Investor Checking account. 

13. Online and mobile bill pay: Requires access to Schwab.com or Schwab Mobile via a wireless signal or mobile connection. 

14. 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 policy set forth at www.schwab.com and the privacy policy of the mobile wallet you use. 

Android, Google Play, and Google Pay are trademarks of Google Inc. Use of these trademarks are subject to Google Permissions.

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. 

Charles Schwab & Co., Inc., Charles Schwab Bank, SSB, Charles Schwab Premier Bank, SSB, and Charles Schwab Trust Bank are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation. Schwab Institutional is a division of Charles Schwab & Co., Inc. Brokerage products are offered by Charles Schwab & Co., Inc., Member SIPC. Deposit products and services are offered and provided by Charles Schwab Bank, SSB, Charles Schwab Premier Bank, SSB, and Charles Schwab Trust Bank, Members FDIC. Charles Schwab Bank, SSB, Charles Schwab Premier Bank, SSB, and Charles Schwab Trust Bank are not acting or registered as securities broker-dealers or investment advisors.

Schwab Asset Management is the dba name for Charles Schwab Investment Management, Inc. (CSIM), the investment advisor for Schwab Funds and Laudus Funds. Schwab Asset Management is a part of the broader Schwab Asset Management Solutions organization (SAMS), a collection of business units of The Charles Schwab Corporation aligned by a common function—asset management-related services—under common leadership. Schwab Funds and Laudus Funds are distributed by Charles Schwab & Co., Inc. (Schwab) Member SIPC. CSIM and Schwab are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation.