Yes, you can link your checking account to Charles Schwab
You can connect a checking account from another bank to your Charles Schwab account. This lets you move money between them without visiting two separate websites or apps. Schwab calls this process "linking" an external account, and it takes a few days to set up because the banks verify ownership by sending small test deposits.
The reason you might want to do this: you could keep your paycheck going to your main checking account at your current bank, but move money to Schwab when you want to invest or use their other services. Or you could do the reverse — keep most of your money at Schwab and pull funds from another bank when you need them.
Key Takeaways
- Linking takes three to five business days because Schwab and your other bank send small test deposits to confirm you own both accounts.
- You will need your account number and routing number from the other bank, which you can find on a check or by logging into that bank's website.
- Once linked, you can transfer money between the accounts through Schwab's website or mobile app without paying a fee.
- Schwab will not automatically move your money — you choose when and how much to transfer each time.
What you need before you start
Gather information about the checking account you want to link. You need the account number and the routing number of that bank. The easiest place to find both is on a check from that account — the routing number is the first set of numbers on the bottom left, and the account number comes after it. If you do not have a check, log into your other bank's website or app and look for account details or settings.
You will also need to be logged into your Schwab account. If you do not have one yet, you will need to open a Schwab Bank account first, which requires a Social Security number, a valid ID, and a current address.
The steps to link an account
Log into your Schwab account on their website or app. Look for a section called "Transfers" or "Move Money" — the exact name varies depending on which Schwab product you use, but it is usually in the main menu or under settings. Select the option to link an external account or add a new bank account.
Enter the account number and routing number from your other bank. Double-check both numbers because a mistake will delay the process. Schwab will ask you to name this account (for example, "My Chase Checking") so you can tell it apart from other linked accounts.
Within one to two business days, Schwab will send two small deposits — usually less than one dollar each — to your other bank account. Log into that bank's website or app and look for these deposits. You will see the amounts, which are typically random numbers like $0.23 and $0.17. Write these amounts down.
Go back to Schwab and enter the two amounts when prompted. Once you confirm them correctly, the link is complete. From that point on, you can transfer money between the accounts whenever you want through Schwab's website or app.
How long transfers take once the account is linked
After the account is linked, moving money between Schwab and your other bank takes one to three business days, depending on which direction you are sending it. A transfer from your other bank into Schwab usually takes one to two business days. A transfer from Schwab to your other bank may take up to three business days.
Business days do not include weekends or federal holidays. If you start a transfer on a Friday afternoon, it will not begin processing until Monday. Plan ahead if you need the money by a specific date.
What happens if you link the wrong account
If you realize you entered the wrong account number or routing number, you can delete the link and start over. Schwab will not send money to an account you did not intend to link because you have to confirm the test deposits before any transfers can happen. If test deposits were already sent to the wrong account, contact that bank to let them know they were sent by mistake — most banks will return small deposits automatically after a period of time.
If you already completed the verification and transferred money to the wrong account by accident, contact Schwab's customer service right away. They cannot reverse a transfer that has already posted, but they can help you understand your options.
Linking multiple accounts at once
You can link more than one external account to Schwab. Each one goes through the same verification process with test deposits. This is useful if you have checking accounts at multiple banks and want to manage them all from Schwab, or if you want to link both a personal account and a joint account.
There is no limit to how many accounts you can link, but each one takes three to five business days to verify. If you link several accounts at the same time, you will receive test deposits for each one, so keep track of which amounts belong to which account.
Frequently Asked Questions
Do I have to use Schwab's website, or can I link accounts through the mobile app?
You can do it either way. The steps are the same on the Schwab website and the Schwab mobile app. Some people find it easier to have a check in front of them while they enter the routing and account numbers, so they use a computer, but the app works just as well.
What if my other bank is very small or online-only?
As long as your bank has a routing number — which every bank in the United States has — you can link it to Schwab. Online banks, credit unions, and small regional banks all work the same way. The routing number is what matters, not the size of the bank.
Can I link a savings account instead of a checking account?
Yes. You can link any type of deposit account — checking, savings, or money market — as long as you have the account number and routing number. The process is identical.
Will linking accounts let Schwab see my balance at the other bank?
No. Linking only creates a one-way or two-way transfer connection. Schwab cannot see your balance, transaction history, or any other details about the linked account. You control what information Schwab has access to.
What if I want to unlink an account later?
You can delete a linked account at any time through Schwab's website or app. Go to the transfers or account settings section, find the linked account, and select the option to remove or unlink it. This does not affect your account at the other bank — it only stops the transfer connection between them.