US checking account
Schwab Bank Investor Checking
A checking account linked to a Schwab One brokerage account, with worldwide ATM cash-withdrawal fee rebates. The extra account relationship is part of the choice.
This page sums up Schwab’s own pages in our words, as checked on Oct 17, 2026. It is not an offer. The bank’s account agreement and fee schedule decide what applies, and terms can change.
Where it fits
ATM rebates with a linked brokerage account
The monthly fee, and how it can be waived
Schwab's terms list no monthly fee, so there is no balance or deposit rule to keep up just to avoid that fee. That covers the monthly fee only. Other service fees in the bank's fee schedule can still apply.
ATMs and cash deposits
ATM access
Unlimited rebates for eligible ATM cash-withdrawal fees worldwide. Dynamic currency conversion and non-withdrawal charges are excluded.
Cash deposits
Not confirmed. Our sources do not settle whether you can deposit cash. That does not mean you cannot; ask the bank before you rely on it.
Cash deposits are not confirmed in the sources reviewed. Schwab lists check deposits, direct deposit, transfers and wires. Ask the bank before relying on cash deposits.
Overdrafts
No overdraft fee in the bank's terms.
No overdraft fees. This does not promise that an overdrawn payment will be covered.
What you need, and other conditions
To open the account
A linked Schwab One brokerage account is required. There is no obligation to fund it or make trades.
Other conditions
- No Schwab foreign transaction fee; check currency-conversion choices at an ATM.
- Consider whether you want the linked brokerage account as well as a checking account.
Deposit insurance
FDIC coverage is generally $250,000 per depositor, per insured bank, per ownership category. Deposits in the same category at the same bank are combined. This applies to bank checking deposits. The linked Schwab One brokerage account is not FDIC-insured, is not a deposit and may lose value.
Sources and check date
The facts above come from the bank and FDIC sources below, checked on Oct 17, 2026. The summaries and explanations are our own words. We have not opened this account.
- Schwab Investor Checking features, requirements and disclosures (opens in a new tab) schwab.com · Checked Oct 17, 2026Used for: monthly fee, cash deposit details, ATM access, overdraft details, account requirement, other conditions, deposit insurance
- FDIC deposit insurance definitions (opens in a new tab) edie.fdic.gov · Checked Oct 17, 2026Used for: deposit insurance
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Facts taken from the bank’s own pages. Account not opened or tested.