Charles Schwab Bank & Charles Schwab & Co., Inc. Launch Integrated Checking and Brokerage Accounts Schwab Bank Investor Checking Helps Clients Get the Most Out of Available Cash SAN FRANCISCO, July 11 /PRNewswire/ -- Charles Schwab Bank today unveiled Schwab Bank Investor Checking(TM), an integrated cash management tool that provides investors with a seamless way to manage day-to-day cash needs and move money between their Charles Schwab Bank and Charles Schwab brokerage accounts. The new product simplifies the way investors manage their finances by offering them greater convenience and flexibility under one trusted name. "Our clients tell us they're looking for ways to simplify the complexity of their financial lives while improving their financial outcome," said Richard Kenny, Schwab Bank President and CEO. "That's why we're broadening services by creating products that are highly integrated and easy to manage. Whether it's a credit card that rewards extra points for brokerage trades or a mortgage where eligible securities can be used as collateral in lieu of a cash down payment, the ultimate goal is to deliver a truly unique combination of great value, performance and personal service for our clients." Schwab Bank Investor Checking is an FDIC-insured checking account that is fully integrated with the Schwab One brokerage account. Investors can simply sign on to Schwab.com and manage their investments at Charles Schwab -- as well as their bank accounts at Charles Schwab Bank -- from a single online source. As a result, investors have a complete view of their finances and can stay up-to-date on investments, monitor deposits and withdrawals, manage their credit card and mortgage balances, move money between accounts to maximize return and simplify cash management, and pay bills from one single site. In addition, investors can take advantage of features other checking accounts may not offer. For example, Investor Checking gives clients the ability to transfer cash in real-time between their bank and brokerage accounts, allowing cash to be easily moved to the account that they feel may best fit their financial goals. Additional features include overdraft protection with no transfer fees and ATM fee rebates. By setting a target balance transfer that maintains a pre-determined minimum daily balance in their Investor Checking account, clients can maximize their money in the investment account while ensuring there is always enough in their checking account for day-to-day cash and check-writing needs. When the end of day balance dips below that minimum daily balance, funds from the Schwab One brokerage account are automatically transferred into the Schwab Bank checking account. "After years of enduring expensive fees, overcharges and complicated banking policies, I moved to Investor Checking because it gives me the freedom of moving money and writing checks without hassle and additional costs," said Sam Wolgemuth, an Investor Checking pilot customer. "By integrating my checking account with my brokerage account, I spend much less time tracking transfers and deposits, and more time focused on growing my investments." Key features of Schwab Bank Investor Checking include -- Schwab Bank checking account linked to a Charles Schwab brokerage account -- Single log in online access to the Schwab Bank checking account and Charles Schwab brokerage account -- ATM fee rebates (up to 20 or maximum of $35 per statement period) (1) -- Daily ATM withdrawals up to $2,000 -- The convenience of overdraft protection (2) -- Free online bill payment (3) -- Visa(R) Platinum Check Card -- Real-time cash transfers between brokerage and bank accounts -- Access to online check images Clients with at least $10,000 - $24,999 in household assets (4) benefit from waived brokerage account service fees when they hold a mortgage or home-equity line of credit through Schwab Bank. (Clients with a minimum balance of $25,000 in household assets do not pay account service fees for their brokerage accounts.) Investor Checking is also available to clients of the more than 5,000 independent investment advisors who work with Schwab Institutional, enabling advisors to help clients with both cash and investment needs. Network of more than 1,400 bank-brokerage consultants To deliver comprehensive counsel and solutions that help clients meet their overall financial objectives, Schwab trained 1,400 client-facing employees at 280 offices (5) nationwide to become dual employees of both Charles Schwab & Co., Inc. and Charles Schwab Bank. This new dual-employee model is part of a broader strategy to provide greater levels of personal attention to many of our clients. Dual employees are specially trained in both bank and brokerage services to provide a more comprehensive view of a client's financial picture. Investor Checking rounds out Schwab Bank's suite of banking products, which include mortgage financing solutions, a credit card, savings accounts, money market products, certificate of deposit accounts and more. About Charles Schwab Bank Headquartered in Reno, Nevada, Charles Schwab Bank, N.A. provides checking, savings, money market and CD accounts, home mortgages, HELOCs, Pledged Asset Mortgages, credit cards, debit cards, and more. Deposits are FDIC-insured. Clients can learn more about bank products and services, including the Schwab Bank Visa credit card and Schwab Bank Investor Checking, by phone, mail or schwab.com. Charles Schwab Bank, N.A. is a subsidiary of The Charles Schwab Corporation. Investment Products: Not FDIC-Insured No Bank Guarantee May Lose Value All the content contained in this material was prepared by Charles Schwab Bank, N.A. (Member FDIC). Nothing herein is or should be interpreted as an obligation to lend. Loans are subject to credit approval. Some restrictions may apply. Charles Schwab Bank, N.A. and Charles Schwab & Co., Inc., are affiliates of each other and are both subsidiaries of the Charles Schwab Corporation. Charles Schwab & Co., Inc., a registered broker-dealer and SIPC member, allows Charles Schwab Bank, N.A. to provide information about its products as a convenience to Charles Schwab & Co., Inc.'s clients. Charles Schwab & Co., Inc., does not solicit, offer, endorse, negotiate or originate any mortgage loan products, and is neither a licensed mortgage broker nor a licensed mortgage lender. Rates and terms are subject to change without notice. Charles Schwab Bank, N.A. is not acting or registered as a securities broker-dealer or investment advisor. Charles Schwab Bank, N.A. Equal Housing Lender (Member FDIC). (0605-6090) (1) Available at participating Plus(R) and Visa (R) ATMs. (2) Overdraft protection using margin sources may create a margin loan in a Schwab One brokerage account that may be subject to daily interest charges, margin calls or potential liquidation of securities. Refer to the Schwab Bank Deposit Account Agreement and Schwab One Account Agreement for further details (3) Schwab Bank Bill Pay is not available for certain accounts, such as business, corporate, trust (except living trust), estate, custodial, international or IRA accounts. (4) "Household assets" are the aggregate balance of accounts of a household that meet Schwab Bank's householding guidelines (generally, accounts of clients with the same last name, or who are related, who reside at the same home address). (5) Deposits for the Schwab Bank Investor Checking account are not accepted at any Schwab brokerage branches. Please see the Schwab Bank Investor Checking account application for details. Other conditions and restrictions may apply. DATASOURCE: Charles Schwab CONTACT: Christy Sasser of Edelman, +1-415-486-3239, or , for Charles Schwab Web site: http://www.schwab.com/

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