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Frequently Asked Questions

Get instant answers to commonly asked questions here.
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General Questions
New Customers
Customer Service
Deposits
Funds Transfer and Availability
Funds Access and ATMs/VISA® Check Card
Security and Web Access
Downloading Account Info To Personal Finance Software

General Questions
  1. How is Charles Schwab Bank (Schwab Bank) different from Charles Schwab & Co., Inc. (Schwab) the brokerage firm?
    Charles Schwab Bank is a federally chartered thrift institution and an affiliate of Charles Schwab Corporation, a financial holding company. All bank products and services are offered through Schwab Bank.

    Charles Schwab & Co., Inc. (CS & Co.) is a registered broker-dealer and is not a chartered bank. CS & Co. is principally engaged in providing securities brokerage services to customers. The products offered by CS & Co. are not FDIC insured, are not deposits or obligations of, or guaranteed by Schwab Bank, and are subject to investment risk including possible loss of principal.

  2. Do I need to be a Schwab brokerage customer to do my banking with Schwab Bank?
    No, you don't have to be a brokerage customer of CS & Co. to bank with Schwab Bank. However, if you are a CS & Co. client, from time to time you may be eligible for special Schwab Bank offers.

  3. Can I make deposits or conduct banking activity at any CS & Co. Investor Center?
    You cannot conduct banking activity (such as making deposits) at CS & Co. Investor Center offices but you can get basic information about Schwab Bank and the types of products and services available.

  4. Are my deposits with Schwab Bank insured?
    Yes. Funds deposited at Charles Schwab Bank are insured, in aggregate, up to $250,000 based on account ownership type, by the Federal Deposit Insurance Corporation (FDIC). You can confirm our FDIC membership by visiting the FDIC web site at www.fdic.gov

  5. Can I pay my bills online?
    Yes. We offer a Bill Pay service that provides Schwab Bank Checking and MMDA customers the convenience of paying bills online quickly and easily at no extra cost.

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New Customers
  1. What products and services does Schwab Bank offer?
    Schwab Bank offers a variety of products and services including the following:

    Deposit
    Checking Accounts
    Savings Account
    Money Market Deposit Account
    Certificates of Deposit


  2. How can I become a Schwab Bank customer?
    Apply Now or call us at 1-888-403-9000.

    After you complete your application to open an account, you will receive a New Customer Account Kit in the mail within a few days containing a signature card and account funding instructions. Depending on the account type(s) you applied to open, your starter checks and Visa® Check Card will be mailed to you once we receive your signature card and opening deposit.

  3. How do I open additional accounts?
    You can apply for additional accounts either by logging into your account or calling us at 1-888-403-9000.

    New Schwab Bank accounts can be funded with available funds from an existing Schwab Bank account.

  4. How do I obtain my User Name and Password to log into my account on the web?
    When you apply for an account online you will be asked to create a User Name and prompted to designate a password. When you apply for an account over the phone, a User Name and a temporary password will be mailed to you after account opening.

  5. How do I log in to my new account?
    To access your Schwab Bank account(s) on the web, click "Log In" from any of the pages at www.schwabbank.com.

    Before you log in the Log In link is displayed with an up arrow: Log In

    Once you are logged in, the link changes to reflect this and becomes a Log Off link with a down arrow: Log Off

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Customer Service
  1. Can I talk to a person?
    Absolutely. Schwab Bank Customer Service Representatives are available by calling 1-888-403-9000 Monday through Friday 8:30 a.m. to 11:00 p.m. ET or Saturday and Sunday 9:00 a.m. to 10:30 p.m. ET.

  2. What should I do if I forget my Password?
    If you have forgotten your Password and can't log into your account, we have a special password hint process to help you remember your password. Or, you can call our Customer Service line and ask to have your password reset.

  3. Can I send e-mails for service related items?
    We do not offer e-mail based customer service at this time. Please contact a Customer Service Representative at 1-888-403-9000.

  4. How do I report a change of address?
    To report a change of address, Log In at www.schwabbank.com and go to the Customer Service page or contact a Customer Service Representative at 1-888-403-9000.

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Deposits
  1. How do I make deposits into my accounts?
    • Via Direct Deposit
      To arrange for Direct Deposit of your paycheck or government check into your Schwab Bank account, you can print a Direct Deposit request form and instructions from www.schwabbank.com. Complete the form, then give it to your payroll manager (for direct deposit of your paycheck) or send to Social Security (for direct deposit of your government check) along with a voided check. (Check with your employer before using this method, as your employer may have special requirements for Direct Deposit)
    • Via Funds Transfer from an existing Schwab Bank account
      Transfer funds from another account by phone or through our Web site.
    • Via Wire Transfer or Funds Transfer from another bank account
      Transfer funds from another financial institution via wire transfer or automated electronic deposits. For more information on wire transfers, please contact Customer Service at 1-888-403-9000.
    • Via Mail
      Mail your deposit to us with a completed deposit slip (after your account is opened you will receive a package that includes mailing labels and pre-printed deposit slips.) When depositing personal checks, make them payable to yourself and write "for deposit only" on the back of each check. Also, please write your Schwab Bank account number on the back and remember to endorse the check. All deposits (including deposits sent using overnight services) should be mailed to:

      Standard Mailing Address
      Charles Schwab Bank
      Post Office Box 52114
      Phoenix, AZ  85072-9714

      Overnight Mailing Address
      Charles Schwab Bank
      2423 E. Lincoln Drive
      Phoenix, AZ  85016

  2. How do I set up direct deposit of my payroll check?
    Many customers have their paychecks directly deposited into one of their banking accounts, and most employers also offer this convenient service as a benefit to their employees.

    To arrange for Direct Deposit of your paycheck into your Schwab Bank account, follow the instructions on our Direct Deposit information page.

  3. What if I have cash to deposit?
    For your security, we discourage cash deposits traveling through the U.S. postal service.

  4. Can I send a deposit to you through a network ATM?
    We do not currently offer network ATM deposit acceptance. We can only accept ATM deposits at Schwab Bank ATMs in Reno.

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Funds Transfer and Availability
  1. How soon are my funds available to me after depositing?
    Our policy is to make funds from your deposits available to you on the first business day after the day we receive your deposit, although there are certain exceptions to this policy. Contact Customer Service at 1-888-403-9000 for details about when funds are available for withdrawal.

  2. How long does it take for my deposit to be posted to my account?
    Deposits sent via Direct Deposit are posted to accounts on the same day they are received. It is not possible for us to determine how long it will take to receive a deposit sent via the U.S. mail; however, we post all mail deposits received by 1 p.m. PT (4 p.m. ET) on the same business day. You should make sure deposits have been posted to an account and are available prior to initiating any transactions.

  3. Do I earn interest when my money is on hold?
    Yes. Please be assured all deposits are earning interest (in applicable accounts) regardless of whether the funds are available for withdrawal.

  4. Can I transfer funds online between my Schwab Bank accounts?
    Yes. Transfers from your savings or money market account to your checking account are allowed but limited. Transfers from checking accounts to savings or money market accounts are unlimited.

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Funds Access and ATMs/VISA® Check Card
  1. Do you charge for using ATM (Automated Teller Machine) services?
    Schwab Bank does not charge customers to use their Visa Check Card to get cash from an ATM. However, certain financial institutions and ATM operators independently may charge you a fee for the use of their ATMs. We have no control over these charges. However, when you get cash from an ATM that adds on a surcharge we'll rebate the amount of that fee to your Account (maximum monthly rebates apply and vary by account type).

  2. Which ATMs can I use to access my money?
    Our customers can use any of the hundreds of thousands of ATMs worldwide displaying the Visa® or Plus® logos. You can also use your Visa Check Card to make purchases wherever Visa is accepted and receive cash back at no charge when you use your PIN to authorize the transaction.

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Security and Web Access
  1. How secure is banking on the Internet?
    Schwab Bank incorporates a number of features to protect your accounts and personal information. The bank itself resides behind a rigid "firewall" and is protected from unauthorized entry. In addition, all Schwab Bank transactions are encrypted, which means the information you send to the bank is not available on the Internet in a form that can be read. Plus, you select your own personal password that allows only you to access your account.

  2. What browser should I use?
    We require the use of a secure browser with 128-bit High Encryption to access account information and perform transactions, including Netscape versions 6.0 or higher, Mozilla versions 1.0 or higher, Microsoft Internet Explorer® versions 5.0 or higher, or AOL versions 7.0 or higher.

    If you have an earlier version, we suggest you download and install the most updated version of your browser.

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Downloading Account Info To Personal Finance Software
  1. Can I download my account information into Quicken® or Microsoft Money®?
    Yes. Users of Intuit's Quicken or Microsoft's Money can quickly download their Schwab Bank account information to their computers for more convenient management of their finances.

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