Tuesday, 24 November 2020

Charles Schwab Bank Review: Checking and Savings Accounts

Charles Schwab Bank Review: Checking and Savings Accounts
20 Oct
5:28

Charles Schwab Bank’s Most Popular Accounts

APY

Account Type

Account Name

Compare Rates from Similar Accounts

0.45%

Savings

Charles Schwab Bank High Yield Investor Savings

2.15%

CIT Bank Savings Builder

LEARN MORE Secured

on CIT Bank’s secure website

Member FDIC

Charles Schwab Bank’s checking account

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How Charles Schwab Bank’s checking account compares

Although Charles Schwab Bank only offers one checking account, it packs in a lot of features that may appeal to customers in that single wrapper. The account carries no fees or minimum balance requirements. It pays a higher-than-average rate on a national basis and on balances of all sizes; however, the rate does fall short of the best available checking account rates. The standout feature of the Schwab Bank High Yield Checking account is the ATM fee structure. Charles Schwab Bank doesn’t charge any ATM fees, which is common among many high-quality banks, but it also offers unlimited ATM fee reimbursements, even overseas, which is an unusual benefit. This can make the checking account an attractive option for international travelers.

Charles Schwab Bank’s savings account

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How Charles Schwab Bank’s savings account compares

Charles Schwab Bank’s savings account ranks high compared to other accounts simply because of its ATM rebate policy, which is unlimited worldwide. The account also pays an APY that is well above the national average savings account rate; however, you can still get much higher rates from the banks with the highest savings account rates in the country. Still, Charles Schwab Bank’s savings account has no account minimums or fees, which keeps it competitive.

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John Csiszar

John Csiszar |

John Csiszar is a writer at MagnifyMoney. You can email John here

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Source: https://www.magnifymoney.com/blog/reviews/charles-schwab-bank/

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