Kailey Hagen has been writing about small businesses and finance for almost 10 years, with her work appearing on USA Today, CNN Money, Fox Business, and MSN Money. She specializes in personal and business bank accounts and software for small to medium-size businesses. She lives on what's almost a farm in northern Wisconsin with her husband and three dogs.
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Fact Checked Eric McWhinnieEric McWhinnie has been writing and editing digital content since 2010. He specializes in personal finance and investing. He also holds a bachelor’s degree in Finance.
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. APYs are subject to change at any time without notice.
The Schwab Bank Investor Checking™ account takes a unique approach to attracting customers, relying more on its unique travel perks than a high APY. These perks, which include unlimited ATM fee reimbursements worldwide and no foreign transaction fees, make it a top choice for frequent travelers.
Rates as of Sep 16, 2024 2024 Award WinnerSchwab Bank Investor Checking™
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.
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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.
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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.
We recommend comparing checking accounts to make sure you're getting the best fit for you. Here's a list of our favorite accounts.
On Chase's Secure Website .
Member FDIC. Rating image, 3.50 out of 5 stars. 3.50/5 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.
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On Chase's Secure Website .
On Discover Bank's Secure Website .
Member FDIC. Rating image, 5.00 out of 5 stars. 5.00/5 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.
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Earn 1% cash back on up to $3,000 in debit card purchases each month (see details when you click 'Open Account')
On Discover Bank's Secure Website .
On Quontic's Secure Website .
Member FDIC. Rating image, 4.00 out of 5 stars. 4.00/5 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.
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On Quontic's Secure Website .
Unlimited ATM fee reimbursements: The Schwab Bank Investor Checking™ account doesn't have a network of surcharge-free ATMs, but that's OK because the bank will reimburse you for ATM fees you incur anywhere in the world. Few banks do this, at least on an unlimited basis. So Charles Schwab's unlimited international ATM fee reimbursements make this account one of the top choices for frequent travelers who value having easy access to their cash.
No foreign transaction fees: $0 foreign transaction fees are a rarity for banking accounts, making this a standout feature.
Free checks: The Schwab Bank Investor Checking™ account offers free standard wallet and duplicate check styles to account holders -- a somewhat rare benefit. And the free check writing benefit is unlimited.
Outstanding customer service: Charles Schwab Bank received the highest score in the J.D. Power 2024 U.S. Direct Banking Satisfaction Study for its excellent customer service and has received this honor for the past six years in a row. That might not seem like a big deal, especially if you rarely contact your bank, but when you run into problems or questions about your account, quality customer support is invaluable.
Save and invest in one place: When you open a Schwab Bank Investor Checking™ account, you'll also open a Schwab One® brokerage account. You'll have a single login for both accounts, so you can quickly transfer funds from one account to the other.
Access your funds wherever you go: Charles Schwab Bank's mobile app lets you transfer funds, remotely deposit checks, pay bills, view your transaction history, lock your debit card, and set up alerts to track your account activity. These features make it easy for you to manage your money even if you don't live near a Charles Schwab branch location.
FDIC insured: Finally, Charles Schwab checking accounts are covered by the same FDIC insurance as traditional bank accounts. This protects your funds up to $250,000 per insured bank, per depositor, for each ownership category in the event of a bank failure.
Low APY: While Charles Schwab Bank's 0.45% APY is above-average for checking accounts, it still falls a little behind some of the best checking accounts. Those who are hoping to grow their money quickly may want to consider a different high-yield checking account or a high-yield savings account.
