Features & Services Section

Introduction to Schwab One® Visa® Platinum Debit Card

Introduction to Schwab One® Visa® Platinum Debit Card

The Schwab One Visa Platinum Debit Card is a no annual fee debit card available only to Schwab One account holders. It can be used to make debit purchases anywhere Visa is accepted and to withdraw cash at ATMs worldwide.

To obtain a Visa debit card, either open a Schwab One account or upgrade a standard Schwab account to a Schwab One account.

The Schwab One Visa Platinum Debit Card has the following features:

  • No annual fee
  • Advanced fraud detection
  • ATM withdrawals up to $1,000 per day and unlimited ATM fee rebates worldwide
  • Automotive rental collision damage waiver benefit (Auto Rental CDW) Tooltip  
  • Auto rental discount (Avis)
  • Cash advances of up to $15,000 per transaction with a daily limit of $15,000 Tooltip  
  • Concierge service
  • Emergency card replacement
  • Emergency cash disbursement
  • Emergency evacuation transportation insurance and transportation coverage
  • Lost luggage reimbursement Tooltip  
  • No foreign transaction fees
  • Purchase security Tooltip  
  • Repatriation of remains Tooltip  
  • Travel accident insurance Tooltip  
  • Travel and emergency assistance
  • Visa Roadside Dispatch
  • Warranty manager service

Key information on the Schwab One Visa Platinum Debit Card:

  • There is a 21-character maximum for names on cards:
  • Truncation of an account holder's name will have no effect on direct debits the account holder may have established with external vendors.

Schwab One Visa Platinum Debit Card eligibility by account registration:

Account and registration Schwab One Visa Platinum Debit Card eligibility
  Card allowed Name(s) on card
All tenants by entirety Yes Tenants' names
Charity for profit (effective February 6, 2012, this account registration is no longer available) No N/A
Charity nonprofit (effective February 6, 2012, this account registration is no longer available) No N/A
Community property Yes Owners' names
Conservatorship No N/A
Corporation* No N/A
Custodial No N/A
Designated beneficiary - individual Yes Owner's name
Designated beneficiary - joint Yes Owner's name
Employee stock purchase plan - master No N/A
Employee stock purchase plan - participant No N/A
Employee stock option No N/A
Estate No N/A
Fiduciary trust No N/A
Guardianship No N/A
Individual registration Yes Individual's name
Community property with designated beneficiary Yes Joint owners' names
Joint registration Yes Joint owners' names
Limited liability company* No N/A
Life tenancy No N/A
Living trust Yes Trustees' names, TTEE
Non-incorporated association* No N/A
Partnership* No N/A
Pension trust - CRA master No N/A
RPS custodial plan No N/A
RPS trust plan No N/A
Sole proprietorship Yes Business or sole proprietor's name
Tenants in common Yes Tenants' names
Testamentary trust No N/A
Usufruct No N/A
Company retirement account - participant No N/A
Omnibus No N/A
Personal choice retirement - custodial No N/A
Personal choice retirement - trust No N/A
RPS master No N/A
SIM master No N/A

 

*Debit Cards may be available to Organization accounts in limited circumstances. Please see Payment Feature Eligibility for Organization Accounts.

 

Do I need a signature card for each account?
Yes. A handwritten signature card will be required for:

All new-to-Schwab clients who have ordered Schwab One checks or Visa debit cards

Existing clients who have ordered Schwab One checks or Visa debit cards

If Schwab receives a request from your client that requires signature verification and we have a signature card or signature specimen on file, we will contact you and your client to confirm the transaction. To avoid delays with transaction requests, it's important that Schwab receives the signature card when the account is opened. 

When will my client receive their Visa card?
The time between when the card is requested and mailed is approximately 48 hours. Cards are sent to the mailing address on record via standard domestic shipping (3-5 business days).

Can my client use their old Visa debit card if they just linked their Schwab One account to a Schwab Bank Investor Checking™ account?
Any cards issued for their Schwab One account will be honored for 30 days after their Investor Checking account is open. As soon as the new Visa debit card(s) arrive, your client should begin using them and destroy their old cards.

Clients should inform merchants of their new Visa Platinum Debit card number if they have the old card number on file, to ensure future charges are approved.

How can my client replace a Visa debit card that has been lost or stolen?
If a client needs to replace their existing Schwab One VISA Platinum Debit Card due to the card being lost, never received, damaged, or expiring (and unable to wait for auto-renewal), they can contact Schwab at Client Banking Services (CBS) 800-486-6111, Option 2.

Cards are sent to the mailing address on record via standard domestic shipping (3-5 business days).

For fraudulent transactions, disputed charges, or stolen cards, clients will still be required to contact Schwab at Client Banking Services (CBS) 800-486-6111Option 2.

If the client calls Schwab within two business days of learning of the loss or theft of the card or PIN, they will be responsible for no more than $50.00 if someone uses their card or PIN without permission.

Otherwise, if Schwab can prove it could have stopped someone from using the card or PIN, the client could be responsible for as much as $500.00.

How can my client order new debit cards to be sent to an alternate address or third party after the account is opened?
When a client is requesting a new debit card be mailed to an alternative address or a third party, they will need to complete a Debit Card Alternate Address Letter of Authorization form. They can log into their account, go the Forms section, download and complete the form and then fax it for processing to Schwab at 800-955-7561.

When does the card expire?
Schwab One Visa Platinum Debit Cards are issued with between a 4-year and 4-year and 9-months expiration date. Expirations Date months are assigned randomly to help combat fraud.

What is the maximum my clients can debit from their accounts using a point-of-sale transaction?
For each purchase, the limit is the client’s available cash balance, up to $15,000 per transaction. Manual authorization is required for amounts exceeding the transaction limit.

What is the ATM transaction limit?
$1,000 a day withdrawal limit (max $500 per transaction); some ATMs may impose a lower limit.

What if the bank declines a client’s ATM withdrawal due to insufficient funds?
Advise your client to contact one of the following phone numbers:

  • For Schwab One accounts, call 800-421-4488.
  • For Schwab Bank accounts, call 888-403-9000.

What is the processing time for purchases made with the card?
PIN-merchants use real time transaction messaging and the purchases will post within minutes.

The following are available to assist you:

How to add features to an account

How to open a personal brokerage account

How to open a trust account

How to open an international individual or joint brokerage account

Introduction to Schwab Bank Investor Checking accounts

Introduction to Schwab One® accounts

Use the following resources for Schwab One accounts:

See the Charles Schwab Pricing Guide for fees, commission, and pricing information.

Charles Schwab & Co., Inc. and Charles Schwab Bank, SSB, are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation. Brokerage products, including the Schwab One brokerage account, are offered by Charles Schwab & Co., Inc., Member SIPC. Deposit and lending products, including the Schwab Bank Investor Checking account, are offered by Charles Schwab Bank, SSB, Member FDIC and an Equal Housing Lender.

The Schwab Bank 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, minimum balance charges, minimum trade requirements, and there is no requirement to fund this account, when opened with a linked Investor Checking account.

Charles Schwab Bank, SSB, is not acting or registered as a securities broker-dealer or investment advisor.

Some features (e.g., Purchase Security) may have additional eligibility requirements and exclusions and may require additional documentation (e.g., original receipts). Please carefully review your documentation before submitting a claim.

Out-of-pattern, high-risk, or suspicious transactions may be blocked. In some cases an analyst may contact the client directly to review suspicious activity.

Some banks may impose dollar limits on withdrawals, charge fees, and deny withdrawals according to bank policy.

Unlimited ATM fee rebates apply to cash withdrawals using the Schwab Bank Visa Platinum Debit Card at ATMs where it is accepted. ATM fee rebates do not apply to any fees other than fees assessed for using an ATM to withdraw cash from a Charles Schwab Bank, SSB, account. Charles Schwab Bank, SSB, makes its best effort to identify those ATM fees eligible for rebate, based on information it receives from Visa and from ATM operators. In the event that your client has not received a rebate for a fee that they believe is eligible, please call a Schwab Alliance Service team member at 800-515-2157. Charles Schwab Bank, SSB, reserves the right to modify or discontinue this ATM fee rebate at any time.

Charles Schwab Bank, SSB, does not assess foreign transaction fees (e.g., a fee to convert U.S. dollars to local currency) to debit card holders. If your client uses their card to withdraw foreign currency from an ATM or to pay for a purchase with foreign currency, we charge their account for the U.S. dollar equivalent of the transaction. Depending on the specific arrangements that are in place, the exchange rate and calculation of the U.S. dollar equivalent will be done by the bank at which your client conducts the transaction, the network to which the ATM belongs, or Visa. The bank or network may also charge a fee.

Pricing information in the Charles Schwab Institutional Pricing Guide supersedes this sheet or any prior pricing details and notices you may have received. Charles Schwab reserves the right to change or waive fees at its discretion.

Visa® is a registered trademark of Visa U.S.A. Inc. Please see the Visa® debit card agreement for any additional terms and conditions.

 

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