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5190 Neil Road
Reno, NV 89502

Charles Schwab Bank is an independent bank that was established by its parent holding company, the Charles Schwab Corporation, a publicly traded financial services company listed on the New York Stock Exchange (Symbol:SCHW). The bank was established in order to offer personal banking and lending products in addition to the brokerage services for which the company is commonly known.

Charles Schwab Bank has received great reviews on for its checking and savings accounts, two of its personal depository products. Its checking accounts are versatile and convenient, have no monthly fees, come with free checks and Visa debit cards, and refund ATM transaction fees up to a certain amount. The bank’s savings account has no monthly service fees, as well as no minimum account balance to be maintained. The savings account also offers ATM refunds up to a certain amount and links up with the bank’s checking account for fund transfers. Both the savings and checking accounts feature mobile deposit and mobile banking for convenient banking functionality. Charles Schwab Bank also offers Certificates of Deposit (CDs) that range in term lengths from 3 to 60 months. Money Market accounts are available as well and offer higher interest rates for higher account balances. Mortgages are available on the bank’s consumer lending side.

Charles Schwab Bank online banking is a sophisticated, web-based platform that provides customers with access to their accounts at any time. Activities like bill pay, fund transfers, and direct deposit are easily accomplished and can be done so via mobile banking as well. The bank’s mobile apps offer access to both trading accounts and deposit accounts, and are available on select smartphone and tablet devices.

Charles Schwab Bank was established in 2003 and its organization type with the FDIC is a stock savings bank. It is a subsidiary of Charles Schwab Corporation and headquartered in Reno, Nevada.

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Was Great When I First Started....

This bank was hands down the best bank I have ever dealt with. For the past 4 years I have had an account with this bank and have had no problems whatsoever. I even got my girlfriend to switch her account and be done with Bank of America

Up until recently that is...
First transactions were not posting to my online ledger as fast as I remember them usually doing so. On top of that bill payments through the online system were also not showing up. Calls to customer service to inquire did nothing.

Then came the hammer.... 
I had an unauthorized transaction from a company I deal with for roughly $400.00. Without going into too many details, this bank did practically nothing! What the company did was charged my debit card I had used to pay a bill once without my ok. While fighting with this company I called Schwab because I was getting nowhere. 

After explaining this to Schwab, they attempted to issue a stop payment but were unable to do so because they explained it was a pending payment. They then proceeded to try and contact the company and were blown off. They then came back and told me they would do whatever they can to solve the situation which is where there help stopped. 

I had a car payment go through and a personal check which thankfully were covered (my account went into the red because of this). Direct deposits went in a few days later, and none of my current bills were being paid. After finding out from my insurance company and 2 credit cards (which hit me with late & returned fees) I called Schwab. She told me they froze my bank account. The rep then tried to tell me I was told this was happening which is not true. According to her any dispute on any transaction and they freeze all activity except deposits for 10 days!?!

She then was basically telling me I was irresponsible and my account was overdrawn (of course it was because of an unauthorized charge!!!) 

This bank was great 4 years ago, but when you run into trouble, forget it!

Recently Switched From TD Bank And Have Been Impressed So Far

I recently switched to Schwab bank from TD Bank for my reimbursed ATM fee needs when traveling internationally and have been impressed so far. Customer service has been great. ACH transfers are quick but there is a 3 business day hold before the funds become available. I even received a personal call and letter thanking me for my business and telling me to call if I had any issues. The only thing I did not like was they did a hard pull in order to open the account.

Great Bank, Great Service.

I have been with Charles Schwab Bank since 2008, at the time I was unsure what difficulty I would encounter banking with a satellite bank with scattered brick & motor structure to go to, after 3 years I can say I am more than pleased with this bank.

Over 3 years, I have never had to dispute a charge, all ATM reimbursements have been correctly and timely added back to my checking account on the 1st of the following month. The interest rate has dropped from 2% to .25% in the same time, but remians competitive in the market place. All postmarked envelopes to mail checks to the bank's Reno, NV location have come and are delivered in a timely fashion. 

Customer service has been great, I call and I get a human from the U.S., no transfering around and waiting. They have answered any questions I may have. The website is easy to navigate and simple to use. I have expanded into brokeragetrading and opening a Schwab IRA through my expireience with the Bank.

I highly recommend this bank if you are looking for great service and competitive marketplace banking products, but those inetrested need to have a level of comfort with online banking. 

Completely Satisfied

I come from a history of working in banking from several large banks(through mergers, though never working for Schwab) that I won't name. Charles Schwab really offers extremely valuable services to it's clients, and practices a very honest business in a industry plagued with corruption.

Working in the industry, I've seen first hand how these mega-corporations suck money out of their customer's pockets. From overdraft feesand schemes to cause more overdraft fees through selective processing of the order of transactions that post. Typically, banks would process the larger transactions first, and if you have an abundance of smaller transactions they would process those last, causing you to incur a fee for each of the small transactions, sometimes totaling your overdraft fees to well into hundreds of dollars...when if the reverse was true you would only have one or two fees. Schwab does none of that. I've also never had an overdraft fee with Schwab, ever.

Any ATM in the US (And maybe world-wide, I'm not sure) is free. They reimburse you at the end of every month(Yes, even those $8.00 casino ATM fees)

They also do free overdraft transfers from savings to checking, where some banks charge $5-15.00 just to transfer your own money to cover your transactions.

The only negative is the lack of physical branches. But, in a world where everything is done through the internet or smartphones, who really needs physical branches. I've only ever had to walk into a Schwab office once, and that was because I needed to deposit a check that wouldn't deposit through the mobile app, one of those money gram money orders that are printed really lightly.

Overall, though, my absolute favorite benefit of banking with them is when I make a check deposit. If I deposit a check through the mobile app during normal business hours(and sometimes even 7pm), my money is available most times within 20-30 minutes. No holds, no wait times. It's there.

The product I have is the Brokerage Account/Checking Account linked together, you get those benefits by linking the accounts. It's well worth it, people.

Pull your money from those money-sucking mega-corporation banks and move it here, it will be well taken care of and you'll be happy time and time again that you did it. (Coming from someone that used to work for those big banks.)

I'm done now, didn't really mean to write a novel. Ha.



Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Charles Schwab Bank had $46 million in non-current loans and owned real-estate with $7.2 billion in equity and loan loss allowances on hand to cover it. This gives Charles Schwab Bank a Texas Ratio of 0.64% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Charles Schwab Bank decreased slightly from 0.76% as of March 31, 2013 to 0.64% as of March 31, 2014, resulting in a positive change of 15.55%.This indicates that the balance sheet and financial strength for Charles Schwab Bank has improved slightly in recent periods.

Deposit Growth


In the past year, Charles Schwab Bank has increased its total deposits by $13.18 billion, resulting in 15.98% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Charles Schwab Bank has shown is excellent.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Charles Schwab Bank has $103.34 billion in assets with $7.2 billion in equity, resulting in a capitalization level of 6.97%, which is below average.

Institution Statistics

FDIC Certificate #57450
Year Established2003
Primary RegulatorOCC
Assets and Liabilities
Assets$103.34 billion
Loans$12.67 billion
Deposits$95.64 billion
Equity Capital$7.15 billion
Loan Loss Allowance$47.00 million
Unbacked Noncurrent Loans$40.00 million
Real Estate Owned$6.00 million
Historic Data - March 2013
Assets$88.96 billion
Equity Capital$6.15 billion
Loan Loss Allowance$59.00 million
Unbacked Noncurrent Loans$40.00 million
Real Estate Owned$5.00 million
Profit Margin - Quarterly
Return on Assets0.89%
Return on Equity13.23%
Interest Income$430.00 million
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Charles Schwab Bank Savings Account Rates

0.12%--High Yield Investor Savings

Charles Schwab Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 5190 Neil Road - Reno, NV 89502