Schwab bank uses a third party company to administer their bank bill pay. This company lacks any of the normal bank security and integrity, I would warn all Schwab banking customers, until you might have a issue using Schwab's bill you will not know how sleazy this third party bill pay administers issues that a real bank services will give you. Schwab's bank bill pay is a sleazy company and they could freeze your assets at their discretion. WARNING SCHWAB'S BILL PAY IS UNRELIABLE WITH CUSTOMER SUPPORT.
Would give 0 stars if possible. I opened a high yield investor checking account in August and called countless times about hold ups in approving my application and getting the debit card. NO ONE contacted me when there was a hold because they were unable to validate my address. I had to reach out and get it done. Fine. Then three months later after multiple requests for them to send a debit card to me I still didn’t have it. They assured me it was delivered to my address. I gave up and closed the account. What else can I do? They were zero help and basically told me well we did everything we could. So I said “same!” And closed my account. Thankfully I never deposited to the account because their track record shows I may have never gotten it back!
Wasted our time. We heard this account was good for those living or traveling internationally because the fees were low. So we went thru all the steps two setup an account, spent the time verifying external accounts, got the cards at my US address and after all that and it would not work. So we called them and they said. Oh since you were from a Mexico IP address you have to come to the USA and show us your ID at a local branch. Obviously, I’m not driving thousands of miles so they satisfy some arbitrary policy that they never bothered to tell us about. There are many ways they could verify this. Just wanted to warn others. They completely wasted our time.
No ATM fees and easy to transfer money. I lost my debit card called on the 1st of month and still have not received a new on one the 12th. When I called today (12th) they said they can expedite it for $15.00 and I will have by the 14th. This is just too long to wait to get a card, and why should I have to pay to ship it when it has taken them 11 days snail mail. May have to go elsewhere
Horrible bank. Originally opened a checking account with them to avoid ATM fees and foreign transaction fees because I am a frequent traveller. However, every time I've tried to use the card, there have been issues that have prevented it. Everything takes days or even weeks to process. Usually takes 10 days to deposit a check. Expect to have to send in physical mail forms and handwritten letters for most things you want to do. Worst of all, they randomly suspended my account. When I called in to regain access, they said my birth date as well as all my other personal information was wrong. I was told to go into a branch to fix this. When I went to the branch, I was told to send a notarized letter to fix it. That sealed the deal for me and I will no longer be banking with Schwab.
I switched over to Charles Schwab before traveling abroad because their debit card for the checking account has no ATM fees anywhere (they refund ANY ATM fees you pay EVERY) and no transaction fees. They were incredibly helpful in helping me set up the account as well as resolving any issue that came up (setting up travel alerts, making deposits, transferring funds electronically, etc). Customer service was definitely exceptional and I would recommend to anyone.
I've had Charles Schwab Bank checking for almost a year now, and it has been by far my favorite checking account. I used to have a regional bank and was constantly looking for an ATM, but the Charles Schwab checking allows you to use any ATM and they refund all ATM fees, even international. I got the account so I could go abroad and use the ATMs there. I recently went to France and didn't have any problem withdrawing Euros from the ATMs there. Shortly after, all of my ATM fees were credited back to my account. This is the most important feature for me, and it works great. I haven't had any problems with the account, so haven't needed much problem resolution. But the customer service has been great and the account has all the bells and whistles you could ever ask for. All in all, been a great decision and I hope to be with them for years.
I've been with Schwab for roughly 5 years now, and have been extremely impressed. In that time I don’t think I have been charged a fee the entire time. I am able to use any ATM anywhere and not be charged any fees. I get free online bill pay, I get free checks, reimbursement of all ATM fees charged by the machine, and, no currency conversion fees (at least where I have traveled too internationally). I have called customers service a handful of times and always been very happy with the level of service provided.
I love my Charles Schwab Investor Checking account. I have no complaints at all with them. When I first opened the account it was mainly just for transferring money to and from my brokerage account. But I have found myself using it more and more. Fantastic customer service as well, you really can't go wrong with them.
I originally opened this checking account to be able to easily withdrawal funds from my schwab brokerage account, and it has slowly turned into my everyday checking account. The overall fee schedule is wonderful and transparent, you easily avoid a monthly fee and I get all my atm fees reimbursed. There are of course fees for bounced check, overdraft, etc.. but no out of the ordinary hidden fees you need to watch out for. They offer a mobile check deposit limit that is easy to use. It does have a 10K limit so if you need to deposit more you can mail to them or stop in a schwab office, which most major cities offer. The only issue is cash, which is an issue almost every mobile based bank deals with. I have had a few times where I either needed to withdraw specific cash or deposit a large amount ( casino winning!) and this account made that hard to do. I knew that going into a mobile account so schwab doesn't lose a star for that. Overall the fees, reimbursements of this account outweigh the negatives. I see this account being my "go to" checking for the long haul!
In the event that in a given week, for this product, there were multiple applicable rates in our database based on different criteria, the above graph reflects the lowest interest rate recorded. Before submitting an application, always verify with the issuing institution (i.e. bank, credit union, other lender) the rates, fees, and all terms and conditions accompanying the application.