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.
Charles Schwab Bank
Outstanding Customer Service and as a global traveler the 24/7 availability is INVALUABLE.
Customer Service Charles Schwab
I have reached out to Charles Schwab on two different occassions recently. They offer 24/7 customer service and both experience were exceptional. Customer Service Representatives were helpful, provided education on platform and overall gave the best customer experience I have had in the financial service sector. 5 star service. Great job Schwab!
FDIC Insured?
I found the page of the 4.6% 2-year CD. On the top of the page I found this notification: "Please Note: Certain conditions must be satisfied for FDIC insurance coverage to apply. Charles Schwab & Co., Inc. is not an FDIC-insured bank and deposit insurance cover the failure of an insured bank. Please visit the Schwab CD OneSource® page for a list of insured financial institutions that offer CDs through Schwab."
I'm not sure if this CD is FDIC insured.
Rate Quoted On Depositaccounts Not Available At Bank
I was interested in the 2 year CD from Schwab Bank but when I visited Schwab website but couldn't find the CD anywhere.
Data as of Q1 2025
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 57450 |
| Year Established | 2003 |
| Employees | 1031 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.74% |
| Return on Equity - YTD | 9.64% |
| Annual Interest Income | $1.54B |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $260.4B$286.7B |
| Loans | Q1 2025vs Q1 2024 | $45.64B$40.15B |
| Deposits | Q1 2025vs Q1 2024 | $219.9B$238.3B |
| Equity Capital | Q1 2025vs Q1 2024 | $21.3B$16.7B |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $21MM$32MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $30MM$15MM |
| Real Estate Owned | Q1 2025vs Q1 2024 | $0$0 |