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 DepositAccounts.com 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.
I have an investor checking account with Charles Schwab. I have had this account for a few years at this point. The reason I switched over to them from my brick and mortar bank was that I get unlimited ATM fee reimbursements, in any ATM, any place in the world. I haven't had any issues banking without and actual physical bank. I am able to deposit checks via their phone application. I also purchased a house in 2012 and they were more than happy to help me get a certified check or wire transfer in order to close the deal. Since I was happy with their service, I moved over my rolled over IRA funds from previous jobs and now I run my online trading and retirement fund management through their site.
I opened an account with Charles Schwab because my wife and I were traveling to Europe for three months and I wanted a bank that had no foreign transaction or ATM fees. Charles Schwab offered that. To open a checking account with them, you first need to open a brokerage account. A checking account is then added automatically. You do not need to use the brokerage account for anything, so don't let that scare you away. Once you open the account and fund it, they will send you an ATM card to use anywhere. If you use it at an ATM that charges a fee, Charles Schwab will reimburse you directly into your account, usually within the month. They also don't charge any foreign transaction fees which is huge if you are heading overseas for a significant amount of time. Even though they do not have any brick and mortar locations, depositing checks is also easy because you can just take a picture of the check with your phone through their easy to use app. Their rates are also good, probably because there is less overhead in operating an online bank. All in all, I highly recommend Charles Schwab if you do not need a traditional bank.
Charles Schwab is the best bank I've ever had a checking account with. This past tax season, my mother-in-law-to-be worked on my tax forms and accidentally didn't write out my account number completely. I panicked and called Charles Schwab's customer service. The man who answered was very polite and knowledgeable, and most importantly, from the US! I'm sure we've all heard horror stories about Indian call center mishaps, which is why I especially appreciated speaking to someone who's in the US.
The gentleman assured me that they would take care of it, and a couple of days later my tax return was on my Charles Schwab account! Even though it had been my mistake, they had taken care of it. I recommend Charles Schwab to everyone looking for a good bank. The ability to make mobile deposits also saves me a lot of time!
In account dropdown nothing says checking. When I click on checking from my main account screen, it shows my account number, transactions, pending transactions, and balance, but does not show routing number, apy, apr, interest ytd, date next statement available, date opened, and names on account.
I'm basically describing Ally Bank, Schwab should copy them, why bury info in separate links?
|FDIC Certificate #||57450|
|Return on Assets - YTD||1.06%|
|Return on Equity - YTD||15.5%|
|Annual Interest Income||$3.72B|
|Assets and Liabilities|
|Assets||Q4 2017vs Q4 2016||$198.6B$175.7B|
|Loans||Q4 2017vs Q4 2016||$16.63B$15.41B|
|Deposits||Q4 2017vs Q4 2016||$169.7B$163.6B|
|Equity Capital||Q4 2017vs Q4 2016||$13.22B$11.73B|
|Loan Loss Allowance||Q4 2017vs Q4 2016||$26.0MM$25.0MM|
|Unbacked Noncurrent Loans||Q4 2017vs Q4 2016||$29.0MM$27.0MM|
|Real Estate Owned||Q4 2017vs Q4 2016||$3.0MM$5.0MM|
Always verify rates and promotions with the bank or credit union. We are not Charles Schwab Bank; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|0.35%||-||-||High Yield Investor Savings|
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|0.15%||-||-||High Yield Investor Checking|
Charles Schwab Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 2360 Corporate Circle - Henderson, NV 89074