High Yield Investor Checking at Charles Schwab is an FDIC-insured checking account that earns a .75% variable APY. There are no minimum fees and no monthly service charges. The account comes with a Visa Platinum Check Card which is both a debit and ATM card. Checks are free and ATM fees charged by other banks have unlimited reimbursements. This account can only be opened when linked to a Schwab One brokerage account.
I had a similiar experience as jmartiss's. I had the schwab account open for a year, and sometime I would move money from that account to trading accounts. No history of bad checks, and the account value steadily increases. Sound like I'm an ideal client, right? Well schwab doesnt think so, they closed me for "business reasons" I called their reps, I got no good explanation. Well, when I get my money back I'm going to a competitor. Business reason as they say.
Best checking account out there. No minimum. Competitive interest rate. ATM fees refunded 100% at any ATM in the world with no limit on the amount of fees they'll refund.
Oh, and did I mention it's easy as pie to immediately transfer money from my checking account to my Charles Schwab brokerage or retirement account online all on the same website? And also that I can view my Charles Schwab overdraft credit line and credit card on the same website?
Just makes sense...
I've had this acct. since it came out, before that. I had been with every bank in the US, from Bank of America to Pnc to you name it. My family business has never felt better, and secured. I even know the Owner of a major bank, who got an account with Schwab. So that has to say something, Schwab is the First bank that treats u lik Family, and when they say the acct. is free or whatever they say. ITS TRUE.
So THX Schwab
I have had this account for over two years and am a VERY happy customer. Among the many benefits are ATM Fee Refunds and a decent interest rate on the balance of your checking account. There aren't many checking accounts that pay this well.
I LOVE this account. Zero fees actually means zero fees for once! No yearly fees, no mimimum balance, and best of all NO ATM FEES! And by this, I mean they'll actually refund any fees on any ATM anywhere! Pretty amazing, especially when you consider you'll earn a few points of interest in your CHECKING ACCOUNT! I love this account and i recommend it to all my friends.
The main advantge of this account is that it pays all ATM fees. This card can be used fee-free at any ATM in the world. It is great if you always have enough money in it. Never bounce a check though, or you will get burried in fees. Also they have no branches so some services are not available as they would be with a typical bank as opposed to an online one.
I had really high hopes from Charles Schwab as I had heard of their exceptional service. Too bad I was highly dissappointed. Took nearly a month from Oct 1st to Nov 6th for them to open up my account and then to have them tell me that my account has been closed for "business reasons" Incredibly slow process and misleading. What a waste of time. Use with caution as they tend to close account for no reason!
The account is amazing! There are
NO Fees, NO Min Balance and even the Brokerage account which you are required to have has NO Min Balance and NO Fees! Top top it all off, I get reimbursed for ALL ATM Fees and get interest paid each month, as well as free checks, bill pay, etc....
I've had this account for 2 years and I have been very happy
Customer service has been great anytime I've needed to contact them
Lots of perks and no bad that i have found
I've had this account for 6 mos. and am very pleased. Customer service has been great. We only get ~$10/mo. of interest, but why leave $10/mo. on the table in times like these?
| Type | Today | Week Ago |
|---|---|---|
| 15 Year Fixed | 4.62%  |
4.67% |
| 30 Year Fixed | 5.15% | 5.15% |
| 1 Year ARM | 3.48% |
3.51% |
| 5/1 Year ARM | 3.62% |
3.68% |
| Type | Today | Week Ago |
|---|---|---|
| Line of Credit | 4.89%  |
4.88% |
| 10 Year Loan | 7.47% | 7.47% |
| 15 Year Loan | 7.61% |
7.60% |
| Type | Today | Week Ago |
|---|---|---|
| Interest Checking | 0.28% | 0.28% |
| Money Market/Savings | 0.38% | 0.38% |
| 12 Month CD | 1.13%  |
1.15% |
| 60 Month IRA CD | 2.40% |
2.41% |
| Type | Today | Week Ago |
|---|---|---|
| Cash Back Cards | 12.66% |
12.68% |
| No Annual Fee Cards | 12.08% |
11.97% |
| Reward Cards | 12.75% |
12.61% |
| Small Business Cards | 11.01% |
10.94% |
| Student Cards | 13.77% |
13.49% |
| Platinum Cards | 12.26% |
12.11% |
