Average User Rating:4.5 star rating based on 7 reviews.
Charles Schwab Bank
Charles Schwab Bank Locations| 5190 Neil Road Reno, NV 89502 1-888-403-9000 www.schwabbank.com  |
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Charles Schwab Bank is headquartered in Reno and is the largest bank in the state of Nevada. It is also the 34th largest bank in the nation. It was established in 2003 and as of September of 2011, it had grown to 428 employees at 12 locations. Charles Schwab Bank has a 5-star health rating.
Charles Schwab Bank Routing Number: 121202211
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The Schwab Bank savings account yield fell from 0.75% to 0.50% APY. This is now the same rate as the checking account. This reminds me of ETrade. Refer to my Schwab savings account review for more details.
2010
- 2/4 - Charles Schwab Bank Cuts Savings and Checking Rates (Forum)
- 1/22 - Great Bank (Forum)
2009
2008
- 12/2 - Charles Schwab Visa 2% Cash Back Credit Card
- 9/17 - Major Rate Increase: Charles Schwab's High Yield Investors Checking Account
- 4/2 - More Rate Cuts - Savings, Checking and Reward Checking Accounts
2007
See Rates for: Checking | Savings | Money Market | CD
Charles Schwab Bank Checking Account Rates
Charles Schwab Bank Savings Account Rates
Charles Schwab Bank Money Market Rates
Charles Schwab Bank CD Rates
Rates updated: 2/9/2012
Data for Q3 2011
Institution Statistics
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Institution Health
Overall Score:
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Great Experience Thus Far
- embargo - Monday, January 10, 2011 - 8:14 PMHaving read some of the reviews on this site and others about the banking services provided by Charles Schwab Bank and got the right amount information and decided to sign up. For starters, because of the type of account I created (Joint Tenants) I had to mail in my application. The account was setup within a week (during the hoilday I must say which was pretty impressive). Once the account was setup I needed to phone the customer services department and I was pleasantly surprised by the fact that a human actually answered the phone (can't remember the US City she referenced). But the experience with the customer service representatives was by far the best I've encountered since using online banks! While its been a short amount of time, this journey is off to an excellent start!
6
Was Great When I First Started....
- cidenzo - Thursday, October 27, 2011 - 1:29 PMThis 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!
5
Great Bank, Great Service.
- Degausser22 - Saturday, February 19, 2011 - 10:13 AMI 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.
5
Schwab Mobile Deposit For I Phone And Android
- Mike - Thursday, June 16, 2011 - 11:20 PMI am a client, but I haven't used it (mobile deposit) yet. Just wanted to point out that it is available.
http://content.schwab.com/mobile/mobile-deposit.html
It is a 5 star organization. Not great rates. Great people. The rates used to be great... back when their plain jane checking was paying 4%.
3
Great Bank!
- Ycarrillo1 - Wednesday, February 8, 2012 - 9:51 PMZero monthly fees, zero balance required! Unlimmited Atm reimbursments, free bill pay, and it comes with a brokerage account for trading and investing, excelent service. It has an award winning android and iphone investing app. Their webpage is full of financial information about investing and tools to help you be financially in good shape. I would definitely recommend this bank! It is a strong and powerfull 5 star Bank.
2
A Great Bank
- JimenaLoft - Saturday, October 8, 2011 - 8:55 PMI have been banking with Schwab since 12/2009. I opened an account when I received an internationally traded stock. Many investment banks in the US do not do their own international transactions, and customers end up paying a higher premium to a middle-man. Banking with my checking account has been a great experience. The ATM refund is convenient, and the interest is appreciated; it's low, but other banks aren't offering any better. There are no random or regular fees charged to my checking. The customer service is excellent! I have suffered economic hardships recently, and any other bank would have added to my troubles. Schwab helped.
2
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.