How to deposit funds using inbound wire transfers

How to deposit funds using inbound wire transfers

Funds can be transferred from an account at another financial institution to your client’s Schwab account through wire transfers. To deposit wired funds into a Schwab account, provide the sending institution with the appropriate incoming wire information.

You can initiate the process of receiving wired funds into a Schwab account by providing the sending institution with the appropriate incoming wire information.

To receive wired funds into a Schwab account, you will need the following:

  • The Schwab account number to which funds will be deposited
  • The account number at the other financial institution from which funds will be withdrawn
  • Sufficient cash in the other financial institution’s account to cover the  wire transfer fee Tooltip , if applicable*
  • Confirmation from the client, whether by phone or in person, that the requested wire transfer is valid

*Additionally, some intermediary banks may deduct a “lifting” or handling fee from the wire transfer amount. Schwab has no control over the intermediary bank’s fees (foreign or domestic). If such a fee is charged, the amount is deducted from the wire transfer amount before your Schwab account is credited.

The following process is for depositing domestic funds into a Schwab brokerage account using wire transfers. Review the Foreign Wire Instructions page for information on depositing foreign currency wires.

  1. Follow the client’s financial institution’s instructions for wiring funds to Schwab.
  2. Provide the following information to the sending institution:
    • U.S. dollar currency only (originating inside U.S.)
      Bank: Citibank N.A., New York
      Routing number: 021000089
      FBO: Charles Schwab & Co., Inc.
      Account number: 4055-3953
      Bank address: 399 Park Avenue, New York, NY 10022
      For further credit to: To ensure your client’s account is properly credited, provide the eight-digit account number and name(s) listed on the Schwab account.
    • U.S. dollar currency only (originating outside U.S.)
      Bank: Citibank N.A., New York
      SWIFT ID: CITIUS33
      FBO: Charles Schwab & Co., Inc.
      Account number: 4060-7595
      Bank address: 399 Park Avenue, New York, NY 10022
      For further credit to: To ensure your client’s account is properly credited, provide the eight-digit account number and name(s) listed on the Schwab account.

The following process is for depositing domestic funds into a Schwab Bank account, including Charles Schwab Investor Checking™, Charles Schwab Investor Savings™, and Pledged Asset Line (PAL) account types, using wire transfers. Wires from an international bank are not accepted (a work-around for international wires would be to first deposit the funds in Schwab brokerage account and then transfer them to the Schwab Bank account).

  1. Follow the client’s financial institution’s instructions for wiring funds to Schwab Bank.
  2. Provide the following information to the sending institution:

    Destination bank: Charles Schwab Bank
    Routing number: 121202211
    Bank address: 3000 Schwab Way, Westlake, TX 76262
    For the benefit of: Provide the 12-digit account number and name(s) listed on the Schwab Bank account.

Once you have submitted your request:

  • If cutoff times are met, funds will be available in the Schwab account the next business day (hold times may apply).
  • Review the monthly account statements to confirm accuracy of the deposit.
    If you have questions about depositing funds using wire transfers, contact your service team.

Resources: 

How long will Schwab hold funds my client deposited?
Hold times may vary depending on the type of deposit. See Standard Hold Time Information for Deposited Funds for more information.

Can I trade on the deposited funds when they are still under a hold?
Yes. Deposited funds can immediately be used to place trades once the funds appear in the client’s account.

How to deposit securities
How to set up direct deposits
How to submit an outbound wire transfer online