MyBankTracker rated Charles Schwab Bank based on the following criteria that includes real customer reviews and bank fees, among others. Our bank report card is a proprietary rating system that highlights the financial health and stability of the bank.
There are fantastic features of schwab that make it the best banking experience i've ever had. I have my checking/savings/brokerage/ira/401k all through schwab, and i never pay fees for atms, transfers, deposits, checks, etf trades, or annuals. There are no minimum balances, and you can start with only a brokerage/checking account.
In addition to the great features, i get immensely great service through the charles schwab mobile app for ipad and iphone where i can not only check on my accounts, but take pictures of checks for deposit (into any account i have) and do research for stocks, funds, and etfs. Plus, if i call with a question, or visit my branch with an appointment, i get helpful advice from certified financial planners that are intelligent, well mannered, and want to build a relationship with you to foster your growth.
Heck, i even get a quarterly magazine with great investment advice that i can also view on my ipad. This review may sound like i'm financially savvy, but i started using a simple schwab checking account while i was still in college, and as my career and wealth begins to grow, schwab has helped me along the way for over 6 years.
I had a brokerage account and a high yield checking account. I was using my ATM/Checking far too often (online shopping, traveling, etc---FYI: I never over drafted or bounced a check). But I decided to open a new checking account with them to better manage my finances for the holidays and the new year and close the current one. Guess what?
I was denied a new checking account due to something they perceived negative on my credit report. Not only was I denied a new checking account but they ended up closing my current one at random. I find it interesting that they kept the brokerage account alive and well. Point being, if you have good credit this bank may not be for you. I think they require excellent or near perfect credit. (yes, they do pull a hard inquiry on your credit when you attempt to open an account).