Charles Schwab Bank Reviews

4.0 out of 5 stars
7 Reviews

From Account Holders in the last year


Application Process

3.5 out of 5 stars

Customer Service

4 out of 5 stars

4 5

These reviews were written by current and former account holders in the last year.

Oct 27, 2018
Low Fees Account
RonBargarh Account Holder

Great Checking Account with fast ACH and no ATM fees. It could be even better if they had something like Zelle for P2P transfers. Also the Deposit APR could be higher.

more ...
Aug 18, 2018
Deposits can take days to a week to show
crassulaceae Account Holder

The deposits even coming from the same company, can take days to a week to become accessible in my checking.  I accidently deposited in brokerage and it took over a week before I could transfer the funds to my checking.  They told me it was because I had not deposited often in the brokerage account.  Basically I had to call and that got the ball rolling.  The online chat service is mostly not operational except during banking hours.  I chose an online to have access outside of normal business hours because of time constraints I have since I work 10-12 hours as a small business owner.  And, upon occasion, outside of reg business hours I can't access my account online.  

Otherwise good.

more ...
Jun 24, 2018
Best online bank I've ever used
Anonymous Account Holder

They're continuously improving their offerings, from their product line to their mobile app. They're solid to have if you travel overseas and need to pull from random ATMs. I switched from Simple to Schwab awhile back, and wish I had done so earlier. If having access to brick-and-mortar branches isn't important to you, consider Schwab.

more ...
Apr 05, 2018
Impeccable Customer Service
mbaron6744 Account Holder

There are some barriers to entry to have a Schwab Checking (at least there were a few years ago), such as having another account with the group, but it has been well worth it. Charles Schwab has provided the single best customer service I have ever experienced. Online banking is great, and it's the only company I have ever called and gotten off the phone with restored sfaith in humanity and trust in a business. Getting ahold of a knowledgable person quickly is seamless, there are no couched, practices, boiler plate answers, the reps know their stuff and treat you like a human. I couldn't be happier. The only downside to the account is the inability to deposit cash; but it's 2018. I almost never do this anyway, and it's probably best practice to have a secondary account for safety and convenience anyway. I have an accound at another bank that I can reach in-person, but only for emergencies. I adore Schwab. 

more ...
Mar 13, 2018
Schwab has lowered interest paid
Anonymous Account Holder

Beware: Schwab has changed  brokerage money market sweep into much lower interest paying Schwab Bank Sweep.

more ...
Mar 09, 2018
Anonymous Account Holder

I had an account for years with no money in it and they NEVER closed my account. Excellent customer service. I use it on regular basis. Never worry about atm fees.

more ...
Dec 10, 2017
No complaints whatsoever
mightywingman Account Holder

In my 4th year with CS and I have never encountered a problem. The one time I lost my debit card, I was able to get a replacement really fast from a very polite and knowledgable CS rep. I travel to Asia often and use the ATM. Any and all fees have been reimbursed. The Brokeage Account that comes with it has been sitting dormant since opened but just recently, I was able to open a Schwab Investor card from Amex because of it. The interest rate is better than the majority of mainstream banks but personally for me, it was never an issue since I maintain a relatively small amount; bulk resting in much higher yielding savings accounts.

If you rarely deal with cash like me, this online bank is the way to go IMO.

more ...

Was this review helpful?

1 Reply
Mar 09, 2018

The way I used to see Charles Swab is as an investment account. However, I have heard that Charles Swab is not only about investments but it can also be a commercial banking account such as a checking account and your review proves so. I would like to ask you- are there specific requirements for opening a bank checking account with Charles Swab and is there a specific initial deposit amount?

Add a Review

Add Your Review

I Own It I Had It I Applied

Please state your experience.

How would you rate this bank overall?

Please select a rating

What should others know about this bank?


How was application process?

How was customer service?

Join the Credit Karma Community

It’s free, and you’ll get tools and info that can help you improve your financial health:

  • Credit scores and reports
  • Credit monitoring
  • Personalized recommendations