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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. 

Great Experience Thus Far

Having 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!



Data for Q4 2013

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Charles Schwab Bank had $53 million in non-current loans and owned real-estate with $6.62 billion in equity and loan loss allowances on hand to cover it. This gives Charles Schwab Bank a Texas Ratio of 0.80% 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 experienced no significant changes from 0.82% as of December 31, 2012 to 0.80% as of December 31, 2013, resulting in a positive change of 2.80%.This indicates that the balance sheet and financial strength for Charles Schwab Bank has had no significant changes in recent periods.

Deposit Growth


In the past year, Charles Schwab Bank has increased its total deposits by $13.59 billion, resulting in 17.11% 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 $99.88 billion in assets with $6.62 billion in equity, resulting in a capitalization level of 6.63%, which is below average.

Institution Statistics

FDIC Certificate #57450
Year Established2003
Primary RegulatorOCC
Assets and Liabilities
Assets$99.88 billion
Loans$12.50 billion
Deposits$93.04 billion
Equity Capital$6.58 billion
Loan Loss Allowance$48.00 million
Unbacked Noncurrent Loans$48.00 million
Real Estate Owned$5.00 million
Historic Data - December 2012
Assets$85.81 billion
Equity Capital$6.02 billion
Loan Loss Allowance$52.00 million
Unbacked Noncurrent Loans$48.00 million
Real Estate Owned$5.00 million
Profit Margin - Quarterly
Net Interest Margin1.61%
Return on Assets0.84%
Return on Equity12.54%
Interest Income$1.51 billion

Always verify rates and promotions with the bank or credit union. We are not Charles Schwab Bank, we are a rate comparison website and can not provide official rates or promotions.

Charles Schwab Bank Savings Account Rates

0.12%--High Yield Investor Savings

Charles Schwab Bank Money Market Rates

0.05%--Money Market Deposit Account

Charles Schwab Bank Checking Account Rates

0.02%--Interest Checking Account
0.02%--Interest Checking Plus Account

Charles Schwab Bank CD Rates

0.03%$1k-3 Month CD
0.03%$1k-6 Month CD
0.03%$1k-12 Month CD
0.03%$1k-18 Month CD
0.03%$1k-24 Month CD
0.03%$1k-36 Month CD
0.03%$1k-48 Month CD
0.03%$1k-60 Month CD

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