$15 monthly credit for Uber Rides (includes Uber Eats).$20 monthly credit for digital entertainment (think streaming apps).$200 annual hotel credit and $200 annual airline credit (need to select a hotel and carrier each year).With that annual fee, it took some convincing! But after reading the fine print you are eligible for: I went against my grain and selected the Platinum card a few years back. Platinum Card - $695 annual fee no foreign transaction fees annual credit Schwab based on your holdings membership rewards can be selected as deposits back to your Brokerage account.Investor Card – no annual fee Earn 1.5% unlimited cash back automatically deposited to your Brokerage account.Schwab-branded American Express Investor Card and Platinum Card: However, my workaround is to keep cash secure in my house to use as needed, along with sending cash by wire from my Schwab One Brokerage account for $10 per transaction.
What you might find difficult is depositing actual cash to the checking account or needing cashier’s checks. I can use the ATMs for cash, mobile deposit checks through my phone, and setup/manage bill pays. This checking account is easy to use under your Schwab login and Mobile App. Current annual percentage yield (APY) on checking balance is 0.03% (competitive with traditional banks).No Service Fees No account minimums No Foreign transaction fees.Unlimited ATM fee rebates worldwide with a Visa Platinum Debit card.Schwab Bank High Yield Investor Checking – must be linked to a Schwab One Brokerage account: In this blog post, I want to expand on some of these services to let you know they exist and how seamless utilizing them can be. From there, I have added a Schwab Bank High Yield Checking account, Schwab branded American Express card and utilized Schwab Bank Rocket Mortgage for two mortgage refinances (most recently in June 2021). I started my relationship with Schwab, like many of you, by opening a Schwab One Brokerage account and Roth IRA. Over the years, Schwab has continued to add and build services to its platform.
I continue to be impressed with Schwab as a custodian and their services to advisors and our clients. I joined RPJ back in 2004 (thank you, Newt!) and was quickly trained up on all things Schwab. I also learned that Charles Schwab & Company (“Schwab”) was the first custodian to recognize this movement and offered their platform to fee-only financial advisors like ours in 1987. Back in our first blog post, “Reflections with Donald Rembert,” I learned about our decision to go fee-only back in 1983.
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