Charles Schwab Bank offers the High Yield Investor Checking account—arguably the best checking account for travelers and international spending. Combined with Schwab brokerage integration, it creates a powerful financial hub.

High Yield Investor Checking

The standout features make this exceptional:

  • Unlimited ATM fee rebates worldwide
  • No foreign transaction fees
  • No monthly fees
  • No minimum balance
  • No minimum to open
  • Interest on balances

The unlimited ATM rebate means any ATM, anywhere in the world, effectively becomes free. Use any ATM, and Schwab refunds the fee at month's end.

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Why Travelers Love Schwab Checking

For international travel, Schwab checking eliminates common banking costs:

  • No 3% foreign transaction fee on purchases
  • Withdraw local currency from any ATM
  • Get refunded for all ATM fees
  • Favorable exchange rates
  • Chip-enabled debit card

Compare this to typical travel credit cards and most still don't offer ATM rebates.

Schwab Brokerage Integration

Opening Investor Checking requires a linked Schwab brokerage account (free, no minimums). Benefits include:

  • Instant transfers between checking and brokerage
  • Single login for all accounts
  • Combined statements and reporting
  • Easy investment of excess checking balances
  • Check deposits to either account

The brokerage account offers commission-free stock trades, making it valuable even if not your primary investment platform.

Schwab High Yield Savings

While checking offers modest interest, Schwab doesn't have a dedicated high-yield savings account. For maximum savings rates, consider pairing Schwab checking with Ally or Marcus savings.

Mobile Banking Features

The Schwab mobile app provides:

  • Mobile check deposit
  • Bill pay
  • Wire transfers
  • Account alerts
  • Touch ID/Face ID security
  • Combined brokerage and banking view

ATM Access Details

The unlimited rebate policy works like this:

  • Use any ATM worldwide
  • Pay any fees charged
  • Schwab automatically refunds fees monthly
  • No paperwork or claims needed
  • Rebates appear as "ATM Fee Refund"

Account Requirements

Important to note:

  • Must open linked Schwab brokerage account
  • Brokerage account requires citizenship/residency
  • No minimum in brokerage needed
  • Credit check performed at opening

Customer Service

Schwab provides:

  • 24/7 phone support
  • Physical branches in major cities
  • Dedicated banking specialists
  • High customer satisfaction ratings

Who Should Use Schwab Checking?

Schwab Investor Checking is ideal for:

  • International travelers
  • Anyone wanting truly free ATM access
  • Investors who want banking integration
  • Those avoiding foreign transaction fees

The linked brokerage requirement isn't a barrier—the account is free and adds value.

Open an account at Schwab.com