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Impressive Banking for Charles Schwab Account Holders

Banks these days are either gouging with hidden fees or requiring huge minimum balances. Since many of our clients have complex banking needs, I often refer them to Charles Schwab Bank. Charles Schwab has the 13th largest bank in the nation and can offer their account holders some impressive banking perks that you may be interested in. Here are just a few:

1) Higher-yielding checking and savings: Money magazine recently named Charles Schwab Bank as the best checking account for travelers. They offer free checking, and the daily balance earns a “top tier” interest rate. There are no maintenance fees, no foreign-transaction fees, no bill-pay fees and unlimited reimbursements for ATM fees worldwide. No hidden fees and no account minimum required. And it’s FDIC-insured.

2) Pledged Asset Line of Credit (PAL): A PAL allows clients to remain fully invested while providing liquidity for future business or personal needs. Schwab account holders pay no setup fees or maintenance fees, and we’ve found the rates to be extremely competitive. These loans can also be used as an alternative to traditional home lending (similar to a mortgage).

3) Mortgages, HELOCs and more: Of course, Schwab has traditional banking capabilities too. Clients can access low rates for a wide range of loan options with impressive online tools, support teams and market commentary.

While we have no affiliation with Charles Schwab Bank, I’ve found them to be a great fit for many of our clients (and for myself). Of course, there are many other great banks out there, but for investors who are already comfortable with Charles Schwab brokerage accounts, this can be a very attractive and convenient banking option.


Financial Synergies is an independent advisory firm and has no affiliation with Charles Schwab Bank. An open Charles Schwab brokerage account is required to qualify for some banking features. Sources: and “The 8 Least Evil Banks” on

Heath Hightower

As a CERTIFIED FINANCIAL PLANNER™ professional, Heath believes in giving solid, unbiased advice, and building relationships with clients that make a tangible, positive difference in their lives. He helps clients with all aspects of their financial lives, such as retirement planning, education planning, charitable giving, and investing. Read Heath’s Profile HereRead More Articles by Heath

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