Charles Schwab Bank's High Yield Investor Checking Celebrates First Birthday

Young Investor Gateway Product Garners Over 175,000 New Accounts; Leads to Shift in Schwab New-to-Firm Client Mix: 95 Percent Increase in Younger Investors

Wednesday, May 21, 2008 5:01 am PDT

Dateline:

Public Company Information:

NASDAQ:
SCHW

--(BUSINESS WIRE)--Charles Schwab & Co., Inc.:

       

What

 

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In one year, High Yield Investor Checking (HYIC) introduced over 175,000 new accounts to Schwab

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Approximately 55,000 of these accounts were opened by Younger Investors (age 25-40)

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Overall, products like Schwab Bank's HYIC - and a greater Younger Investor focus - have caused a shift in the new-to-firm household mix at Schwab

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Through April in 2008, new accounts from existing Younger Investor clients have grown by 22 percent

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Year-to-date Younger Investor new-to-firm households have grown by 95 percent year-over-year

 

Who

A Schwab Spokesperson can discuss:

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Trends in Younger Investor behavior and attitudes

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How Younger Investors are beginning the process of saving and investing

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How Schwab makes it easier than ever to begin saving and investing

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Why Schwab Bank HYIC is a great product for any age at any stage

 

When

Wednesday, May 21st
 

Why

Schwab makes it easy for Younger Investors to begin saving and investing

 

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Schwab brokerage lowered account minimums and introduced new products that make it easy to get started with an investment plan

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Schwab Bank's HYIC gives you access to free checking and the ability to easily move your cash between your linked bank and brokerage accounts

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At the same time HYIC keeps your cash working for you, earning 5 times the national average annual percentage yield

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Checking has become one of the top reasons why consumers come to Schwab Bank

 

Contact

Jennifer McClellan, Edelman for Schwab
415-486-3234

Jennifer.mcclellan@edelman.com

Important Disclosures

Brokerage Products: Not FDIC Insured No Bank Guarantee May Lose Value

Brokerage products and services provided by Charles Schwab & Co., Inc. (member SIPC, http://www.sipc.org). Deposit and lending products and services provided by Schwab Bank (member FDIC and an Equal Housing Lender).

Charles Schwab & Co., Inc. and Charles Schwab Bank, N.A. are separate but affiliated companies and wholly owned subsidiaries of The Charles Schwab Corporation.

The current APY on the Schwab Bank High Yield Investor Checking account for an account with $1 is 5 times higher (when rounded to the nearest whole number) than the national average APY of banks and thrifts (excludes credit unions), based upon a survey by Informa Research Services, Inc., Calabasas, CA, (www.informars.com), as of 4/25/08. Although the information has been obtained from the various institutions themselves, its accuracy cannot be guaranteed.

The Schwab Bank High Yield Investor Checking account is available only as a linked account with a Schwab One® brokerage account. The Schwab One brokerage account has no minimum balance requirements when opened with a linked High Yield Investor Checking account.

Charles Schwab & Co., Inc. (Schwab brokerage) and Charles Schwab Bank are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation (Schwab). Brokerage products are offered by Charles Schwab & Co., Inc., Member SIPC. Deposit and lending products and services are offered by Charles Schwab Bank, Member FDIC and an Equal Housing Lender. (0508-5293)

Contact:

Edelman for Schwab
Jennifer McClellan, 415-486-3234
Jennifer.mcclellan@edelman.com

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