[Expired] Charles Schwab $100 Checking Account Bonus – No Requirements, Monthly Fees, International ATM Fees + ATM Fee Reimbursements

Update 9/6/19: Bonus is now up to $500

[Update 3/13/19: Recently, Schwab has been limiting the bonus to someone who signs up with a link sent over from an actual friend. Try to find a friend – and not use the link below – so that you’ll certainly get the bonus.]

[12/20/18: Updated the link in the post.]

Offer at a glance

• Maximum bonus amount: $100
• Availability: Nationwide 
• Direct deposit required: No
• Additional requirements: Minimum opening deposit of $1,000 is required
• Hard/soft pull: Hard, Equifax
• Credit card funding: None
• Monthly fees: None
• Early account termination fee: Account needs to be kept open for one year
• Expiration date: None listed 

The Offer

Direct link to offer| New Link | Newest link | Newest Link

• Charles Schwab is offering you a $100 sign up bonus when you’re referred by an existing member (the existing member does not receive anything) and sign up for a new account

The Fine Print

• A minimum deposit of $1000 is required to open most Schwab brokerage accounts. Waivers may apply. See the Charles Schwab Pricing Guide for details.
• New clients who do not have a Charles Schwab & Co., Inc. (“Schwab”) account (other than a Stock Plan Services account), open an eligible retail brokerage account, and enroll in the offer can earn a $100 Bonus Award.
• The Bonus Award will be credited to the enrolled account within approximately one month of account open.
• For taxable accounts, the account must be maintained at Schwab for at least one year or Schwab may charge back the Bonus Award.
• Schwab reserves the right to change the offer terms or terminate the offer at any time without notice.
• The offer is limited to one per account, with no more than one account enrolled per client.
• The offer does not apply to accounts managed by independent investment advisors, the Schwab Global Account™, ERISA-covered retirement plans, certain tax-qualified retirement plans and accounts, or education savings accounts.
• You’re required to pay taxes on all bonuses

Avoiding Fees

Charles Schwab does not charge any monthly fees and as such do not have a direct deposit requirement or account balance requirement to keep the account fee free. You’ll need to keep the account open for one year, otherwise the bonus might be clawed back.

They also refund all ATM fees (including international withdrawals) and do not charge any forex fees on international ATM withdrawals either. This makes it one of the most attractive options for international travelers wanting to withdraw cash.

Our Verdict

The hard pull makes this one quite difficult to recommend, that being said it is a great account for international travelers. The other benefit is that you could open the High Yield checking account and a brokerage account and it would only be one hard pull. The brokerage account is enough to make you eligible for the Charles Schwab American Express cards. The Platinum card is particularly interesting because of the sign up bonus and also the fact that you can cash out Membership Rewards points for 1.25¢ each. I think I’ll be adding this to our list of the best bank account bonuses, just keep in mind a hard pull will be done (not sure if it’s possible to sign up for these two accounts and credit cards in the same day for only one pull, if it is the offer is even better).

Charles Schwab have offer a similar bonus in the past, but it required you to deposit $10,000.

Thanks to reader Keith M for letting us know about this offer.