Review of Charles Schwab Bank

It can be very hard to find a good checking or savings account that meets all of your needs, but Charles Schwab Bank has some very good options which can match many people's banking needs.

Schwab has options for both savings and checking, which work great when paired together. Both accounts pay interest, though the checking account has a slightly lower rate than the savings. As with any bank the federally imposed maximum transactions limits for a savings account do apply, which is why it is recommended to have both account types for use together.

The number one problem people think of with banks is the fees, but Schwab has no fees. Of course, there are the standard overdraft fees and such, but no fees for talking to a person or even for ATM use. While Schwab, does not themselves charge an ATM fee, they do something even better, they will refund any fees you are charged by the operator of the ATM. If you go to any ATM, you can withdraw your money and any fees you are charged will be refunded by Schwab, this means you will never have any kind of ATM fee again, ever. There are also no minimum balance requirements/fees. You will have to open a brokerage account as well, but there are no minimum balances for either one when you open both, and you will never be required to use the brokerage account.

Convenience is another great way that Schwab beats out their competitors. Whenever you want to make a deposit you can fill out your deposit slip and use the prepaid envelopes to send it in for deposit. This means you don't have to try to make it to the bank before they close or deal with bank holidays. You just send it off and in a few days it will show up in your account. It is also very easy to transfer funds between your checking and savings. You can just call in and use a newly improved automated system for 24/7 access. If you would prefer to talk to a person that is also available, and the hours are much better than a traditional bank, with very short hold times in general.

The many benefits of Charles Schwab Bank's accounts make them the ideal choice for anyone who wants to escape the fees and inconvenience of other banks. Signing up is also very easy, just fill out some information online, and soon after you will receive your welcome pack by mail.