Schwab is a great one-stop-shop for all your banking and investing needs. Let’s see why.

Investing

Schwab lets you buy basically any stock and ETF available, certainly all of the key total stock and total bonds you should be using in your portfolio.

It’s just a pity you can’t buy fractional shares except for some stocks in the S&P 500, which seems like an artificial limit to me. Fidelity offers fractional shares on pretty much everything, so why can’t Schwab?

Banking

Schwab has a banking division that offers a checking account that with a debit card and is functionally equialent to a checking account.

I’m surprised more people don’t use it and instead stick with tranditional banks like Chase or Bank of America.

It offers amongst other things:

• Free debit card
• Free ATM withdrawls worldwide from any ATM so you don’t have to worry about going out of network
• Free transfers between accounts at other institutions.
• Early deposit of direct deposits. Get your paycheck a day early.

Credit Card

Schwab offers an unlimited 1.5% cash back credit card through American Express. It’s a fine card, but doesn’t offer much over a normal American Express card. They also offer a branded version of the Platinum American Express card, but it has the mostly the same fees and rewards structure as the regular Platinum card.

Do you have a Schwab account? What were your experiences?