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Charles Schwab Bank Review: A Go-To for ATMs, Travelers, and Cash Management

Review Updated
Kailey Hagen
Steven Porrello
By: Kailey Hagen and Steven Porrello

Our Banking Experts

Nathan Alderman
Check IconFact Checked Nathan Alderman
Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page. APY = Annual Percentage Yield

Charles Schwab Bank relies on excellent customer service and rare perks, like unlimited worldwide ATM fee reimbursement, to draw in customers. It shares some similarities with online and brick-and-mortar banks, but its APYs unfortunately take after the latter. But it still has a lot to offer, as outlined in our Charles Schwab Bank review below.

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Offer image for

Charles Schwab Bank

Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

Charles Schwab Bank's deposit accounts don't have monthly maintenance fees. Additionally, its savings and checking accounts include ATM cards -- with unlimited ATM fee reimbursements worldwide. The bank has also been recognized for its excellent customer service. It's a great fit for those who already invest with Charles Schwab and want to keep all their money in one place.

Pros
  • No monthly maintenance fees
  • Unlimited ATM fee reimbursements worldwide
  • Great customer service
  • Free linked investment account with checking account
Cons
  • Low APYs
  • No relationship benefits

Charles Schwab Bank checking account review

Charles Schwab Bank offers a single checking account option.

Schwab Bank High Yield Investor Checking

The Schwab Bank High Yield Investor Checking account comes with its own linked Schwab One® brokerage account. Each has its own separate account number. However, you can conveniently view both accounts and transfer funds between them via Charles Schwab Bank's online and mobile account management tools. The Schwab Bank High Yield Investor Checking account offers unlimited ATM fee rebates worldwide. It also carries no foreign transaction fees.

In addition, this checking account earns interest. Most checking accounts don't offer interest at all, so it's a nice bonus. Since Charles Schwab Bank has no monthly maintenance fees and provides rebates for ATM fees, all of the interest you earn is yours to keep. You can only make money with this account.

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Ratings Methodology
Rates as of Apr 18, 2024
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Schwab Bank High Yield Investor Checking

Member FDIC.
Rating image, 4.75 out of 5 stars.
4.75/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.75 out of 5 stars.
4.75/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
APY
0.45%
Min. To Earn APY
$0.01
  • Competitive APY
  • No foreign transaction fees
  • No monthly maintenance fees
  • Unlimited ATM fee reimbursements worldwide
  • Great customer service
  • Free linked investment account with checking account
  • Higher APY available at other financial institutions
  • Physical locations for investment services

This free checking account is available to Schwab brokerage customers. Schwab offers unlimited domestic and international ATM reimbursements. Schwab also doesn't charge a foreign transaction fee (which can be 1% to 3% of transaction cost). In addition, there is no minimum deposit requirement and no minimum balance requirements.

Checking account comparison

We recommend comparing checking account options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of standout accounts.

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Account APY Promotion Next Steps
0%
Min. to earn: N/A
Earn 1% cash back on up to $3,000 in debit card purchases each month (see details when you click 'Open Account')
0.50%
Rate info Circle with letter I in it. You can earn the maximum savings APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
Cash bonus up to $300 with direct deposit set up (see details when you click 'Open Account')
0.40% (up to 3.30%)
Rate info Circle with letter I in it. To earn the full APY, account holders must do all of the following: Receive monthly direct deposits totaling more than $1,500; make 10 transactions a month with your Axos debit card, or sign up for Axos's Personal Finance Manager; maintain an average daily balance of $2,500 per month in an Axos Invest Self Directed Trading Account; and use your Rewards Checking account to make your full monthly Axos Bank consumer mortgage, personal, or auto loan payment.
Min. to earn: Monthly direct deposits totaling at least $1,500
Use promo code AXOS300 and apply by June 30th, to earn up to a $300 bonus!

Charles Schwab Bank savings account review

Charles Schwab Bank also offers a single savings account.

Schwab Bank Investor Savings™

The Schwab Bank Investor Savings™ account has no minimum balance requirements and no monthly maintenance fees. It's also one of the few savings accounts that includes an ATM card. Charles Schwab Bank doesn't charge ATM fees, and it'll reimburse you for any ATM fees you incur anywhere in the world. This is a great choice if you don’t want to worry about sticking to a particular network.

Consumers should know its APY is on par with brick-and-mortar banks and significantly lower than high-yield online savings accounts. Don't expect to earn a lot of money in interest with this account. The APY is a flat rate for all clients, so you can't earn any bonuses for keeping large sums in the account either.

High-yield savings account comparison

We recommend comparing high-yield savings account options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of standout accounts.

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Account APY Promotion Next Steps
up to 4.60%
Rate info Circle with letter I in it. You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
New customers can earn up to a $300 bonus with qualifying direct deposits!
5.05% APY for balances of $5,000 or more
Rate info Circle with letter I in it. 5.05% APY for balances of $5,000 or more; otherwise, 0.25% APY
Min. to earn: $100 to open account, $5,000 for max APY
N/A
4.35%
Min. to earn: $0
New customers can earn a $200 bonus with a minimum $25,000 qualifying deposit. Terms apply.

Charles Schwab Bank CD accounts

Charles Schwab doesn't issue certificates of deposit (CDs) itself. Instead, it gives its customers access to a marketplace of brokered Charles Schwab CD, including some less common options, such as callable CDs. You must be a Schwab customer and log into your online account to view all available terms and APYs. There's a good mix of terms ranging from one month to 10 years. Generally, its APYs are on par with today's top-paying CDs, though some terms have much higher rates. All Schwab CDs have a $1,000 minimum investment. Compared to competitors, that's fairly reasonable. However, if you'd like to contribute more, you must do so in $1,000 increments.

CDs in Charles Schwab's marketplace don't penalize you for early CD withdrawals. If you need to take your money out early, Charles Schwab Bank will help you sell your CD at the current market price. Keep in mind that there's always the possibility of taking a loss when selling CDs early (even if the bank doesn't penalize you).

Compare CD rates

Charles Schwab Bank has excellent CD rates. For comparison, here's how it stacked up against other banks.

Rates as of
Bank & CD Offer APY Term Min. Deposit Next Steps
APY: 5.10% Term: 10 Months Min. Deposit:  $0
APY: 4.70% Term: 1 Year Min. Deposit:  $2,500
APY: 5.05% Term: 1 Year Min. Deposit:  $1
APY: 5.15% Term: 9 Months Min. Deposit:  $1
Member FDIC.
APY: 4.75% Term: 1 Year Min. Deposit:  $500
Huntington Bank Standard CD
Member FDIC.
APY: 0.05% Term: 1 Months Min. Deposit:  $1,000
APY: 5.06% Term: 1 Months Min. Deposit:  $500
APY: 3.00% Term: 1 Months Min. Deposit: 
APY: 3.00% Term: 2 Months Min. Deposit: 
Huntington Bank Standard CD
Member FDIC.
APY: 0.05% Term: 3 Months Min. Deposit:  $1,000
APY: 3.00% Term: 3 Months Min. Deposit:  $0
APY: Up to 4.51% Term: 3 Months Min. Deposit:  $2,500
APY: 5.26% Term: 3 Months Min. Deposit:  $1
APY: 5.00% Term: 3 Months Min. Deposit:  $500
APY: 3.50% Term: 3 Months Min. Deposit: 
APY: 2.00% Term: 3 Months Min. Deposit:  $2,500
APY: 3.00% Term: 3 Months Min. Deposit:  $500
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 3 Months Min. Deposit:  $500
APY: 4.90% Term: 5 Months Min. Deposit: 
Fidelity CD
Member FDIC.
APY: 5.25% Term: 6 Months Min. Deposit:  $1,000
APY: 5.10% Term: 6 Months Min. Deposit:  $500
APY: 4.00% Term: 6 Months Min. Deposit: 
APY: 3.80% Term: 6 Months Min. Deposit: 
APY: 4.95% Term: 6 Months Min. Deposit:  $500
Valley Bank CD
Member FDIC.
APY: 4.75% Term: 6 Months Min. Deposit:  $500
APY: 4.40% Term: 6 Months Min. Deposit:  $0
APY: 4.25% Term: 6 Months Min. Deposit:  $0
First Internet Bank of Indiana CD
Member FDIC.
APY: 5.18% Term: 6 Months Min. Deposit:  $1,000
APY: 4.25% Term: 6 Months Min. Deposit:  $2,500
APY: 4.80% Term: 6 Months Min. Deposit:  $500
APY: 5.15% Term: 6 Months Min. Deposit:  $0
Member FDIC.
APY: 5.15% Term: 6 Months Min. Deposit:  $1,000
APY: 4.00% Term: 6 Months Min. Deposit:  $1,000
Vanguard Brokered CD
Member FDIC.
APY: 5.30% Term: 6 Months Min. Deposit:  $1,000
Member FDIC.
APY: 3.00% Term: 6 Months Min. Deposit:  $1,000
Salem Five Bank CD
Member FDIC.
APY: 5.00% Term: 6 Months Min. Deposit:  $10,000
Member FDIC.
APY: 1.00% - 5.00% Term: 6 Months Min. Deposit:  $250.00
Republic Bank of Chicago CD
Member FDIC.
APY: 0.50% Term: 6 Months Min. Deposit:  $1,000
APY: 5.10% Term: 6 Months Min. Deposit:  $2,500
Member FDIC.
APY: Up to 5.05% Term: 6 Months Min. Deposit:  $1,000
APY: Up to 2.51% Term: 6 Months Min. Deposit:  $2,500
First Tech CD
APY: up to 4.91% Term: 6 Months Min. Deposit:  $500
Member FDIC.
APY: 5.05% Term: 6 Months Min. Deposit:  $500
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 6 Months Min. Deposit:  $1,000
Member FDIC.
APY: 5.37% Term: 6 Months Min. Deposit: 
Generations Bank High-Yield CD from Raisin
Member FDIC.
APY: 5.21% Term: 6 Months Min. Deposit:  $1
Member FDIC.
APY: 0.05% Term: 6 Months Min. Deposit:  $1,000
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.50% Term: 6 Months Min. Deposit:  $1,000
Member FDIC.
APY: 5.00% Term: 6 Months Min. Deposit:  $2,500
Member FDIC.
APY: 5.30% Term: 6 Months Min. Deposit:  $1,000
All America Bank CD
Member FDIC.
APY: 4.75% Term: 6 Months Min. Deposit: 
Member FDIC.
APY: 4.76% Term: 6 Months Min. Deposit:  $1,000
Generations Bank CD
Member FDIC.
APY: 5.00% Term: 6 Months Min. Deposit:  $1,000
APY: 5.23% Term: 6 Months Min. Deposit:  $1
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 6 Months Min. Deposit:  $500
APY: 3.00% Term: 6 Months Min. Deposit:  $500
Member FDIC.
APY: 5.00% Term: 6 Months Min. Deposit:  $500
Member FDIC.
APY: 5.01% Term: 7 Months Min. Deposit:  $500
APY: 4.75% Term: 7 Months Min. Deposit:  $500
APY: 5.00% Term: 7 Months Min. Deposit: 
APY: Up to 5.01% Term: 7 Months Min. Deposit:  $2,500
Huntington Bank Promotional CD
Member FDIC.
APY: 5.13% Term: 7 Months Min. Deposit:  $1,000
First National Bank Special CD
Member FDIC.
APY: 5.20% Term: 7 Months Min. Deposit:  Up to $10,000
APY: 4.90% Term: 9 Months Min. Deposit:  $500
APY: 4.25% Term: 9 Months Min. Deposit:  $2,500
APY: 4.85% Term: 9 Months Min. Deposit:  $1
Member FDIC.
APY: 5.30% Term: 9 Months Min. Deposit:  $500
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 9 Months Min. Deposit:  $1,000
Member FDIC.
APY: 3.75% Term: 9 Months Min. Deposit:  $500
APY: 5.15% Term: 9 Months Min. Deposit:  $2,500
APY: 4.45% Term: 9 Months Min. Deposit:  $0
NASA Federal Credit Union High-Yield Certificate
Federally insured by NCUA.
APY: 5.55% Term: 9 Months Min. Deposit:  $10,000
APY: 4.90% Term: 9 Months Min. Deposit:  $0
Salem Five Bank CD
Member FDIC.
APY: 5.00% Term: 9 Months Min. Deposit:  $10,000
Generations Bank High-Yield CD from Raisin
Member FDIC.
APY: 5.31% Term: 10 Months Min. Deposit:  $1
Huntington Bank Promotional CD
Member FDIC.
APY: 4.86% Term: 11 Months Min. Deposit:  $1,000
APY: 3.50% Term: 11 Months Min. Deposit:  $1,000
APY: 4.75% Term: 11 Months Min. Deposit:  $0
First Internet Bank of Indiana CD
Member FDIC.
APY: 5.31% Term: 1 Year Min. Deposit:  $1,000
APY: 4.80% Term: 1 Year Min. Deposit:  $0
Member FDIC.
APY: 4.50% Term: 1 Year Min. Deposit:  $500
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.60% Term: 1 Year Min. Deposit:  $1,000
APY: 4.75% Term: 1 Year Min. Deposit:  $1,000
Member FDIC.
APY: Up to 4.80% Term: 1 Year Min. Deposit:  $1,000
Republic Bank of Chicago CD
Member FDIC.
APY: 0.75% Term: 1 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.75% to 3.75% Term: 1 Year Min. Deposit:  $500
APY: 1.50% Term: 1 Year Min. Deposit:  $500
First Tech CD
APY: up to 4.55% Term: 1 Year Min. Deposit:  $500
Member FDIC.
APY: 5.05% Term: 1 Year Min. Deposit:  $1,000
Valley Bank CD
Member FDIC.
APY: 4.50% Term: 1 Year Min. Deposit:  $500
APY: 5.25% Term: 1 Year Min. Deposit:  $2,500
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 1 Year Min. Deposit:  $1,000
All America Bank CD
Member FDIC.
APY: 4.75% Term: 1 Year Min. Deposit: 
Member FDIC.
APY: 0.05% Term: 1 Year Min. Deposit:  $1,000
Connexus Credit Union Share CD
APY: Up to 4.81 Term: 1 Year Min. Deposit:  $5,000
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 1 Year Min. Deposit:  $500
Member FDIC.
APY: 5.15% Term: 1 Year Min. Deposit:  $2,500
APY: 5.00% Term: 1 Year Min. Deposit:  $0
APY: 5.00% Term: 1 Year Min. Deposit:  $5,000
APY: 4.25% Term: 1 Year Min. Deposit: 
Vanguard Brokered CD
Member FDIC.
APY: 5.40% Term: 1 Year Min. Deposit:  $1,000
APY: 4.65% Term: 1 Year Min. Deposit:  $0
Member FDIC.
APY: 5.20% Term: 1 Year Min. Deposit:  $1,000
APY: 4.00% Term: 1 Year Min. Deposit:  $0
Flushing Bank CD
Member FDIC.
APY: 5.00% Term: 1 Year Min. Deposit:  $1,000
APY: 4.85% Term: 1 Year Min. Deposit:  $1
Member FDIC.
APY: 5.31% Term: 1 Year Min. Deposit: 
Member FDIC.
APY: 4.76% Term: 1 Year Min. Deposit:  $1,000
APY: 4.95% Term: 1 Year Min. Deposit:  $500
Member FDIC.
APY: 1.00% - 4.75% Term: 1 Year Min. Deposit:  $250.00
Member FDIC.
APY: 5.25% Term: 1 Year Min. Deposit:  $1,500
Fidelity CD
Member FDIC.
APY: 5.05% Term: 1 Year Min. Deposit:  $1,000
APY: 4.80% Term: 1 Year Min. Deposit:  $0
Generations Bank CD
Member FDIC.
APY: 5.20% Term: 1 Year Min. Deposit:  $1,000
APY: 4.90% Term: 1 Year Min. Deposit:  $500
Salem Five Bank CD
Member FDIC.
APY: 5.55% Term: 1 Year Min. Deposit:  $10,000
Member FDIC.
APY: 5.25% Term: 13 Months Min. Deposit:  $1,000
APY: 5.25% Term: 13 Months Min. Deposit: 
APY: 5.15% Term: 13 Months Min. Deposit: 
First National Bank Special CD
Member FDIC.
APY: 5.00% Term: 13 Months Min. Deposit:  Up to $10,000
Republic Bank of Chicago CD
Member FDIC.
APY: 4.33% Term: 13 Months Min. Deposit:  $1,000
SchoolsFirst Federal Credit Union CD
Federally insured by NCUA.
APY: 5.00% Term: 13 Months Min. Deposit:  $500
Member FDIC.
APY: 3.50% Term: 13 Months Min. Deposit:  $1,000
NASA Federal Credit Union High-Yield Certificate
Federally insured by NCUA.
APY: 5.30% Term: 15 Months Min. Deposit:  $10,000
Flushing Bank CD
Member FDIC.
APY: 4.60% Term: 15 Months Min. Deposit:  $1,000
Member FDIC.
APY: 4.00% Term: 15 Months Min. Deposit:  $500
Federally insured by NCUA.
APY: 5.10% Term: 16 Months Min. Deposit:  $500
Member FDIC.
APY: 2.85% Term: 1.5 Year Min. Deposit:  $500
Vanguard Brokered CD
Member FDIC.
APY: 5.30% Term: 1.5 Year Min. Deposit:  $1,000
APY: 4.45% Term: 1.5 Year Min. Deposit:  $0
Member FDIC.
APY: 4.60% Term: 1.5 Year Min. Deposit:  $1,000
APY: 4.27% Term: 1.5 Year Min. Deposit: 
Member FDIC.
APY: 4.50% Term: 1.5 Year Min. Deposit:  $1,000
First Internet Bank of Indiana CD
Member FDIC.
APY: 5.04% Term: 1.5 Year Min. Deposit:  $1,000
APY: 4.45% Term: 1.5 Year Min. Deposit:  $0
Salem Five Bank CD
Member FDIC.
APY: 4.50% Term: 1.5 Year Min. Deposit:  $10,000
APY: 4.90% Term: 1.5 Year Min. Deposit:  $2,500
Member FDIC.
APY: 0.05% Term: 1.5 Year Min. Deposit:  $250.00
Republic Bank of Chicago CD
Member FDIC.
APY: 1.00% Term: 1.5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.00% Term: 1.5 Year Min. Deposit:  $500
APY: 1.50% Term: 1.5 Year Min. Deposit:  $500
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 1.5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 5.10% Term: 1.5 Year Min. Deposit: 
APY: 3.25% Term: 1.5 Year Min. Deposit:  $0
APY: 4.50% Term: 1.5 Year Min. Deposit:  $0
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 1.5 Year Min. Deposit:  $500
Member FDIC.
APY: 3.00% Term: 1.5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 5.00% Term: 1.5 Year Min. Deposit:  $1,000
APY: 4.75% Term: 1.5 Year Min. Deposit:  $500
APY: 4.40% Term: 1.5 Year Min. Deposit:  $2,500
APY: 4.60% Term: 1.5 Year Min. Deposit:  $500
APY: 4.50% Term: 1.5 Year Min. Deposit:  $0
APY: 4.60% Term: 1.5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 5.00% Term: 1.5 Year Min. Deposit:  $2,500
Member FDIC.
APY: 4.90% Term: 1.5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 0.05% Term: 1.5 Year Min. Deposit:  $1,000
Fidelity CD
Member FDIC.
APY: 5.00% Term: 1.5 Year Min. Deposit:  $1,000
First National Bank Special CD
Member FDIC.
APY: 3.50% Term: 19 Months Min. Deposit:  Up to $10,000
Valley Bank CD
Member FDIC.
APY: 4.00% Term: 2 Year Min. Deposit:  $500
Member FDIC.
APY: 4.25% Term: 2 Year Min. Deposit:  $1,000
First Internet Bank of Indiana CD
Member FDIC.
APY: 4.82% Term: 2 Year Min. Deposit:  $1,000
APY: 4.50% Term: 2 Year Min. Deposit:  $2,500
Member FDIC.
APY: Up to 4.30% Term: 2 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.50% Term: 2 Year Min. Deposit:  $500
Member FDIC.
APY: 2.00% Term: 2 Year Min. Deposit:  $500
APY: 4.00% Term: 2 Year Min. Deposit:  $2,500
APY: 4.40% Term: 2 Year Min. Deposit:  $1,000
APY: 4.20% Term: 2 Year Min. Deposit:  $500
Vanguard Brokered CD
Member FDIC.
APY: 5.20% Term: 2 Year Min. Deposit:  $1,000
Salem Five Bank CD
Member FDIC.
APY: 3.25% Term: 2 Year Min. Deposit:  $10,000
APY: 4.00% Term: 2 Year Min. Deposit:  $0
Member FDIC.
APY: 0.05% Term: 2 Year Min. Deposit:  $250.00
Generations Bank CD
Member FDIC.
APY: 4.24% Term: 2 Year Min. Deposit:  $1,000
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 2 Year Min. Deposit:  $1,000
Republic Bank of Chicago CD
Member FDIC.
APY: 1.25% Term: 2 Year Min. Deposit:  $1,000
First Tech CD
APY: up to 2.25% Term: 2 Year Min. Deposit:  $500
Member FDIC.
APY: 4.65% Term: 2 Year Min. Deposit:  $1,500
APY: 1.50% Term: 2 Year Min. Deposit:  $500
APY: 3.30% Term: 2 Year Min. Deposit:  $5,000
Member FDIC.
APY: 5.20% Term: 2 Year Min. Deposit: 
Member FDIC.
APY: 4.90% Term: 2 Year Min. Deposit:  $1,000
APY: 4.20% Term: 2 Year Min. Deposit:  $0
Fidelity CD
Member FDIC.
APY: 4.90% Term: 2 Year Min. Deposit:  $1,000
Member FDIC.
APY: 0.05% Term: 2 Year Min. Deposit:  $1,000
APY: 4.00% Term: 2 Year Min. Deposit:  $0
Member FDIC.
APY: 4.50% Term: 2 Year Min. Deposit:  $2,500
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.45% Term: 2 Year Min. Deposit:  $1,000
APY: 4.00% Term: 2 Year Min. Deposit:  $0
APY: 4.30% Term: 2 Year Min. Deposit: 
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 2 Year Min. Deposit:  $500
APY: 4.50% Term: 2 Year Min. Deposit:  $500
All America Bank CD
Member FDIC.
APY: 4.25% Term: 2 Year Min. Deposit: 
Connexus Credit Union Share CD
APY: Up to 4.56% Term: 2 Year Min. Deposit:  $5,000
Member FDIC.
APY: 4.50% Term: 2 Year Min. Deposit:  $1,000
Member FDIC.
APY: 5.00% Term: 25 Months Min. Deposit:  $1,000
First National Bank Special CD
Member FDIC.
APY: 3.50% Term: 25 Months Min. Deposit:  Up to $10,000
APY: 3.75% Term: 30 Months Min. Deposit:  $2,500
APY: 1.50% Term: 30 Months Min. Deposit:  $500
First National Bank Special CD
Member FDIC.
APY: 3.00% Term: 35 Months Min. Deposit:  Up to $10,000
Member FDIC.
APY: 4.75% Term: 35 Months Min. Deposit:  $1,000
APY: 4.15% Term: 3 Year Min. Deposit:  $500
First Internet Bank of Indiana CD
Member FDIC.
APY: 4.66% Term: 3 Year Min. Deposit:  $1,000
Vanguard Brokered CD
Member FDIC.
APY: 5.15% Term: 3 Year Min. Deposit:  $1,000
APY: 4.00% Term: 3 Year Min. Deposit:  $0
Salem Five Bank CD
Member FDIC.
APY: 2.00% Term: 3 Year Min. Deposit:  $10,000
APY: 3.75% Term: 3 Year Min. Deposit:  $2,500
APY: 4.25% Term: 3 Year Min. Deposit:  $500
APY: 4.15% Term: 3 Year Min. Deposit:  $0
APY: 4.00% Term: 3 Year Min. Deposit:  $2,500
APY: 4.00% Term: 3 Year Min. Deposit:  $0
Member FDIC.
APY: 4.15% Term: 3 Year Min. Deposit:  $1,000
Fidelity CD
Member FDIC.
APY: 4.80% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.40% Term: 3 Year Min. Deposit:  $500
Member FDIC.
APY: 4.80% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: 0.05% Term: 3 Year Min. Deposit:  $250.00
Republic Bank of Chicago CD
Member FDIC.
APY: 1.50% Term: 3 Year Min. Deposit:  $1,000
First Tech CD
APY: up to 2.45% Term: 3 Year Min. Deposit:  $500
APY: 4.10% Term: 3 Year Min. Deposit:  $1,000
APY: 3.35% Term: 3 Year Min. Deposit:  $5,000
Member FDIC.
APY: 0.10% Term: 3 Year Min. Deposit:  $1,000
All America Bank CD
Member FDIC.
APY: 3.75% Term: 3 Year Min. Deposit: 
APY: 1.50% Term: 3 Year Min. Deposit:  $500
Member FDIC.
APY: 5.15% Term: 3 Year Min. Deposit: 
Member FDIC.
APY: 2.00% Term: 3 Year Min. Deposit:  $500
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.30% Term: 3 Year Min. Deposit:  $2,500
APY: 3.00% Term: 3 Year Min. Deposit:  $0
APY: 2.85% Term: 3 Year Min. Deposit: 
APY: 3.50% Term: 3 Year Min. Deposit:  $0
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.35% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.25% Term: 3 Year Min. Deposit:  $1,500
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 3 Year Min. Deposit:  $500
Member FDIC.
APY: up to 1.75% Term: 37 Months Min. Deposit:  $1
Member FDIC.
APY: 4.75% Term: 45 Months Min. Deposit:  $1,000
APY: 3.40% Term: 4 Year Min. Deposit:  $5,000
Member FDIC.
APY: 4.90% Term: 4 Year Min. Deposit: 
Member FDIC.
APY: 4.55% Term: 4 Year Min. Deposit:  $1,000
Fidelity CD
Member FDIC.
APY: 4.55% Term: 4 Year Min. Deposit:  $1,000
Member FDIC.
APY: 0.15% Term: 4 Year Min. Deposit:  $1,000
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.20% Term: 4 Year Min. Deposit:  $1,000
APY: 4.05% Term: 4 Year Min. Deposit:  $1,000
Member FDIC.
APY: 3.95% Term: 4 Year Min. Deposit:  $1,000
APY: 3.50% Term: 4 Year Min. Deposit:  $0
All America Bank CD
Member FDIC.
APY: 3.49% Term: 4 Year Min. Deposit: 
APY: 3.00% Term: 4 Year Min. Deposit:  $0
APY: 3.75% Term: 4 Year Min. Deposit:  $2,500
Republic Bank of Chicago CD
Member FDIC.
APY: 1.50% Term: 4 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.00% Term: 4 Year Min. Deposit:  $500
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 4 Year Min. Deposit:  $500
Member FDIC.
APY: 4.15% Term: 4 Year Min. Deposit:  $1,500
APY: 2.50% Term: 4 Year Min. Deposit: 
APY: 4.05% Term: 4 Year Min. Deposit:  $500
APY: 3.95% Term: 4 Year Min. Deposit:  $0
Vanguard Brokered CD
Member FDIC.
APY: 4.30% Term: 4 Year Min. Deposit:  $1,000
First Internet Bank of Indiana CD
Member FDIC.
APY: 4.50% Term: 4 Year Min. Deposit:  $1,000
Salem Five Bank CD
Member FDIC.
APY: 2.25% Term: 4 Year Min. Deposit:  $10,000
APY: 4.00% Term: 4 Year Min. Deposit:  $500
APY: 1.61% Term: 4 Year Min. Deposit: 
APY: 4.00% Term: 4 Year Min. Deposit:  $0
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 4 Year Min. Deposit:  $1,000
NASA Federal Credit Union High-Yield Certificate
Federally insured by NCUA.
APY: 4.60% Term: 49 Months Min. Deposit:  $10,000
First National Bank Special CD
Member FDIC.
APY: 3.00% Term: 52 Months Min. Deposit:  Up to $10,000
Member FDIC.
APY: 4.75% Term: 59 Months Min. Deposit:  $1,000
APY: 3.75% Term: 5 Year Min. Deposit:  $2,500
APY: 3.75% Term: 5 Year Min. Deposit:  $0
Member FDIC.
APY: 4.80% Term: 5 Year Min. Deposit: 
APY: 4.00% Term: 5 Year Min. Deposit:  $500
First National Bank Standard CD
Member FDIC.
APY: 1.50% Term: 5 Year Min. Deposit:  $500
APY: 1.50% Term: 5 Year Min. Deposit:  $500
All America Bank CD
Member FDIC.
APY: 3.49% Term: 5 Year Min. Deposit: 
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.10% Term: 5 Year Min. Deposit:  $1,000
APY: 3.45% Term: 5 Year Min. Deposit:  $5,000
Member FDIC.
APY: 4.00% Term: 5 Year Min. Deposit:  $2,500
Member FDIC.
APY: 0.25% Term: 5 Year Min. Deposit:  $1,000
APY: 4.00% Term: 5 Year Min. Deposit:  $500
APY: 4.00% Term: 5 Year Min. Deposit:  $0
First Tech CD
APY: up to 3.55% Term: 5 Year Min. Deposit:  $500
Republic Bank of Chicago CD
Member FDIC.
APY: 1.50% Term: 5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 0.05% Term: 5 Year Min. Deposit:  $250.00
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 5 Year Min. Deposit:  $1,000
APY: 3.90% Term: 5 Year Min. Deposit:  $0
Vanguard Brokered CD
Member FDIC.
APY: 5.15% Term: 5 Year Min. Deposit:  $1,000
APY: 3.95% Term: 5 Year Min. Deposit:  $1,000
Fidelity CD
Member FDIC.
APY: 4.50% Term: 5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.00% Term: 5 Year Min. Deposit:  $500
APY: 3.00% Term: 5 Year Min. Deposit:  $0
APY: 4.00% Term: 5 Year Min. Deposit:  $2,500
Member FDIC.
APY: 4.30% Term: 5 Year Min. Deposit:  $500
Salem Five Bank CD
Member FDIC.
APY: 2.25% Term: 5 Year Min. Deposit:  $10,000
First Internet Bank of Indiana CD
Member FDIC.
APY: 4.55% Term: 5 Year Min. Deposit:  $1,000
APY: 3.90% Term: 5 Year Min. Deposit:  $0
Member FDIC.
APY: 3.90% Term: 5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.15% Term: 5 Year Min. Deposit:  $1,500
APY: 3.25% Term: 5 Year Min. Deposit: 
Member FDIC.
APY: 4.50% Term: 5 Year Min. Deposit:  $1,000
First National Bank Special CD
Member FDIC.
APY: 3.00% Term: 61 Months Min. Deposit:  Up to $10,000
Member FDIC.
APY: up to 2.00% Term: 61 Months Min. Deposit:  $1
APY: 1.50% Term: 6 Year Min. Deposit:  $500
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 6 Year Min. Deposit:  $1,000
APY: 3.90% Term: 6 Year Min. Deposit:  $500
APY: 3.75% Term: 7 Year Min. Deposit:  $2,500
APY: 3.75% Term: 10 Year Min. Deposit:  $2,500

Charles Schwab Bank customer service and experience

Charles Schwab Bank earned the highest score in the 2023 J.D. Power Direct Banking Satisfaction Study. The organization also maintains an A+ rating with the Better Business Bureau. 

Customers are often more inclined to criticize a bank's customer service than to praise it. When you see high ratings like these, it's usually a good indication that a bank is doing something right. Customer service isn't always a major consideration for customers. But if excellent customer service is important to you, move Charles Schwab Bank up on your list.

Alternatives to Charles Schwab Bank

If Charles Schwab Bank isn't the right home for your money, one of these other banks might suit you better.

EverBank

EverBank (formerly TIAA Bank) is similar to Charles Schwab Bank in many ways. Both blend some of the features of online and brick-and-mortar banks, and they both offer brokerage services, retirement accounts, and other investment tools. EverBank's Basic Savings Account and money market account offer competitive APYs, though you may be able to find higher elsewhere. Customers can also open a high-yield checking account with EverBank, which offers more competitive rates than Charles Schwab Bank.

TD Bank

TD Bank offers a wide range of personal banking and investment products. It's a better choice for those who want to do all of their banking in one place. TD Bank offers several relationship benefits, including higher APYs for customers with large balances and multiple accounts. This bank also offers checking account bonuses to increase its appeal to new customers.

Is Charles Schwab Bank right for you?

Charles Schwab Bank is a good choice for you if:

  • You already invest or are interested in investing with Charles Schwab.
  • You want easy access to your funds without being limited to a single ATM network.
  • You travel and want to save money on ATM fees.
  • Great customer service is important to you.

Other products by Charles Schwab Bank

Charles Schwab has a variety of financial products, from credit cards to home loans. The following are some of its key offerings.

Charles Schwab credit cards

  • Schwab Investor Card® from American Express: Earn 1.5% cash back on everyday purchases and use your earnings to invest within your Schwab account.
  • American Express Platinum Card® for Schwab: With an annual fee of $695, (see rates and fees) this card can pack a hefty punch for investors. The card earns between 1 and 5 points on everyday spending and has a hefty welcome offer (terms apply).

Charles Schwab mortgages

  • Home loans: Charles Schwab Bank offers fixed-rate, adjustable-rate, and interest-only homes loans with a variety of term lengths.
  • Refinance: You can get a cash out refinancing loan for home improvement projects or to lower your monthly mortgage payment.
  • HELOCs: Charles Schwab can help you open a line of credit based on your equity.

FAQs

  • Yes, by all accounts, Charles Schwab is a safe bank. It is the eighth-largest bank in the U.S. by assets ($7.05 trillion), the largest publicly traded brokerage, and is FDIC insured.

  • You can use any ATM in the world with a Charles Schwab card. In addition, Charles Schwab Bank will reimburse you for any ATM fees you incur.

Our Banking Experts