Brokerage Account With Debit Card Takeaways
• Charles Schwab offers a Visa Platinum debit card among its financial products.
• You need both a bank account and brokerage account to get Schwab's debit card.
• The Schwab debit card has
no fees and no minimum balance requirements.
About Schwab's Debit Card
Along with investment services, Charles Schwab provides banking services including a Visa Platinum debit card with many benefits. Here's what you need to know.
How to Use the Schwab Debit Card
You can use Schwab's Visa debit card anywhere that accepts Visa, MoneyPass®, or Plus® - at ATMs and stores worldwide. The card includes these valuable Visa benefits:
- Purchase Security (for 90 days)
- Travel Accident Insurance
- Roadside Assistance
- ID Theft Protection
- Credit Building Help
- Travel and Emergency Assistance
- Extended Warranty Protection
- Price Protection (for 60 days)
How to Get the Card
To get Schwab's debit card, you'll need to open both a bank account and brokerage account. While the brokerage account isn't linked to the card, it's required to open the checking or savings account that funds your debit card transactions.
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Applying for the Debit Card
If you don't have a Schwab account yet, start by
clicking the orange-brown button to open an account on Schwab's website. Look for the checking or savings account option. You can apply online or download forms to mail in.
Existing Schwab investment account holders can log in and apply for a bank account under the Account tab. You'll need to deposit some money (any amount) before Schwab will mail your debit card. Later, you can link additional checking accounts to the same card.
Card Limits
Schwab sets these daily limits on debit card use:
Daily Cash Withdrawal Limit: $1,000
Daily Purchases Limit: $15,000
The cash limit applies to ATMs, bank tellers, and cash-back purchases. You can request higher purchase limits up to your available balance, subject to approval.
Ordering Checks
If you open a Schwab checking account, you can order paper checks. You'll need to maintain a $100 balance to get checks.
Managing Your Card
Manage your debit card through Schwab's website or mobile app. Online, click your linked bank account to find card controls including travel notifications, card locking, and lost card reporting.
Fees and Requirements
There are no fees to get, use, or maintain Schwab's debit card - no annual fee, no usage fees, and no shipping charges. The card has no minimum balance requirements.
You won't pay foreign transaction fees when using the card abroad, and Schwab refunds all ATM fees worldwide, making it ideal for international travel.
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Updated on 4/8/2025.
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