Does Charles Schwab Have DRIP?
Dividends from some, but not all, securities held in a Schwab account
can be reinvested as additional shares. If you don’t want cash dividends piling up as uninvested cash, you can instead accumulate whole or fractional shares of the securities that pay such dividends.
Enroll in DRIP at Charles Schwab
It’s really easy to enroll eligible securities in Schwab’s DRIP (Dividend Reinvestment Plan). The process can be completed on Schwab’s website. The exact platform used to trade the securities in question isn’t relevant.
To enroll a security in Schwab’s automatic dividend-reinvesting service, log into the website and click on the Accounts tab at the top of the site. In the drop-down menu, select Positions. On the next page, you’ll get a list of positions. Multiple accounts will be displayed if you have them. In the list, there is a column for reinvestment selections. Click on the link to review or change the DRIP setting for that holding.
Mutual funds will also have a reinvestment selection for dividends and capital gains. Just click on the link and specify your choice. It’s that easy.
Schwab also allows DRIP enrollment when placing eligible equity or mutual fund trades on Schwab.com. Simply check the “Reinvest Dividends” box before submitting the order. Once the trade is executed, eligible dividends or distributions will automatically be reinvested.
For trades placed on other Schwab platforms, including thinkorswim, the DRIP setting can be managed later on Schwab.com from the Accounts > Positions page. Follow the instructions noted above and you’ll be able to set up automatic dividend reinvesting.
Schwab DRIP Eligible Securities
DRIP settings at Schwab can be established for dividend-paying stocks, ETFs, and mutual funds. For stocks and ETFs, cash dividends are reinvested into additional whole or fractional shares of the same stock or ETF at no charge. For mutual funds, dividends and capital gains distributions can be reinvested into the fund holdings. Options, futures, and forex do not make cash distributions, and interest payments from bonds cannot be reinvested through Schwab’s DRIP service.
After setting up a dividend preference for a particular security, if you change your mind in the future, just head back to the website and update your preference.
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Updated on 6/27/2026.
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