Ad Disclaimer

Charles Schwab Bank VS Golden 1 Credit Union

Which bank is better for you?

  • Financial Rates: 3.0 Star Icon
  • Customer Service: 4.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 5.0 Star Icon
No Rate Information
Star Icon Star Icon Star Icon Star Icon Star Icon

Pros:

  • Unlimited ATM fee rebates
  • No monthly fees
  • No amounts required in accounts
  • Offer investing products and advice

Cons:

  • Must link checking account to a brokerage
  • Low-interest rates
  • Opening savings account is not online
  • CDs have fees
  • Financial Rates: 4.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 4.0 Star Icon
No Rate Information
Star Icon Star Icon Star Icon Star Icon Star Icon

Pros:

  • Variety of accounts offered
  • CDs offer competitive interest rates
  • Low opening required amounts
  • Freedom Checking Account for teens

Cons:

  • Must become a member first
  • Cannot open all accounts online
  • Monthly maintenance fees
  • Not competitive rates for most accounts
Charles Schwab Bank Review

Charles Schwab refunds any ATM fees acquired worldwide. Unlike other banks, there is no limit to the number of times your ATM fee can be refunded. If you make use of ATMs, this is an ideal benefit.

There are no monthly maintenance fees for Charles Schwab savings or checking accounts. The checking account does have a fee, but the fee is waived when you open the brokerage account. The brokerage account is a requirement for a Charles Schwab savings or checking account.

Charles Schwab does not have a set amount you must keep in their savings and checking accounts. You will earn interest on whatever amount you deposit with no monthly fees.

Charles Schwab has a wide variety of products to help you invest and trade. They offer accounts for trusts, college, retirement, small businesses, and IRA accounts. Their website offers tools and advice in these different areas. This can help ensure you open the right account for you.

When you open a Charles Schwab checking account, you have to open a Schwab One brokerage account. Opening this account waives the checking account fee. There isn't a required amount to keep in either account, but you must open both accounts.

The interest on their checking account is competitive with other banks for low account amounts. The interest on their savings account is slightly higher than typical banks. The savings account rates are significantly lower than other online banks.

To open a savings account, you must download an application, fill it out, and send it back to Charles Schwab. Other banks let you open a savings account all online. You can open a checking account with Charles Schwab online, but not a savings account.

Charles Schwab CDs have a fee. They charge a set amount based on the CD opened. There is also a fee to sell based on a broker-assisted fee. The interest rates for their CDs are competitive with other banks, but there are fees.

Read the full Charles Schwab Bank review.

Golden 1 Credit Union Review

Golden 1 offers a wide variety of accounts. They offer free checking, interest-earning checking, and checking for students. They offer CDs, a money market, and a basic savings account. They also offer savings accounts for youth, the holidays, and big purchases. They also offer credit cards, investment options, insurances, and loans.

Golden 1 CDs offer good interest rates. The rates are higher than typical brick and mortar bank rates. They are slightly lower than other online accounts. A few of the CD terms do offer rates that are competitive with other online CDs.

Most Golden 1 Credit Union accounts have low opening required amounts. The opening amounts range from $1 to $100 depending on the account. Some accounts do not have a required amount. The CDs require $1,000 to open. The money market account does require $2,500 to open.

This checking account is set up specifically for students ages 16 and 17. To have this account, you must maintain a B average in school. Teens can have freedom of their own finances and learn to manage their money. There is no required amount or monthly fee. They offer online and mobile banking, and mobile deposit.

To open an account with Golden 1, you must first become a member. If you live or work in California, you qualify to be a member. Family members of other Golden 1 members also qualify. You can qualify if you belong to certain employee groups. If these options do not work, you can join the Financial Fitness Association to become a member.

Not all Golden 1 accounts can be opened online. Some accounts require visiting a local branch location to open. All the CDs and most of the savings accounts can be opened online.

The premier checking account and the money market account both have monthly fees. The fees are $5 each month. You can waive those fees by having a set amount in each of the accounts. The checking account requires $1,000, and the money market account requires $2,500.

Most accounts with Golden 1 do not offer competitive interest rates. The checking, savings, and money market account rates are not competitive with other online accounts. They are competitive with other brick and mortar rates.

Read the full Golden 1 Credit Union review.

Favorite Rates

CIBC Bank USA
Savings 08/23/2019
APY 2.20%
Rate 2.18%
For APY $1
Monthly Fee $0.00
Checkbook No
Grow your savings with a rate you can rely on.
Next >
TIAA Bank
MMA 08/23/2019
APY 2.15%
Intro Rate 2.13%
Intro Duration 12 Months
Post Intro 1.09%
For APY $5,000
Monthly Fee $0.00
Checkbook Yes
Earn a top 5% yield- always! Open an Account today. FDIC insured.
Next >
State Farm Bank
MMA 08/23/2019
APY 2.00%
Intro Rate 1.98%
Intro Duration 12 Months
Post Intro 1.00%
For APY $1,000
Monthly Fee $10.00
To Avoid Fee $500
Checkbook Yes
Intro APY, $1,000 to Open, $5,000 Min Bal post intro, See Limits
Next >
American Express National Bank
Savings 08/23/2019
APY 1.90%
Rate 1.88%
For APY $1
Monthly Fee $0.00
Checkbook No
No monthly fee. Competitive APY. 24/7 account access.
Next >