Top 10 Checking Accounts for U.S. Expats Living Abroad (COF, SCHW)

Schwab checking interest

Schwab checking interest

For U.S. citizens living abroad, referred to as expats, maintaining checking and other financial accounts in the United States provides several advantages, including the convenience of paying bills or making payments in the country and the ease of direct deposits for employment or Social Security payments. However, using these accounts while living in a foreign country can be expensive and problematic if transaction costs are high, online access is limited or ATM fees are excessive. The following are 10 of the best checking accounts for expats.

Expats can use the Capital One 360 interest-bearing checking solution offered by Capital One Financial Corp. (NYSE: COF) without paying maintenance, foreign transaction or ATM fees. Account owners can set up direct deposits and link 360 checking to investment accounts at Capital One to manage their portfolios online.

For expats seeking a low-cost checking account for international use, the Schwab Bank High Yield Investor Checking Account offered by the Charles Schwab Corp. (NYSE: SCHW) pays rebates on all ATM charges, processes transactions in foreign currencies at no charge and does not charge service fees. The account pays interest and can be linked to a Schwab One brokerage account, as well as Apple Pay.

With 4,000 locations in over 40 countries, Citibank, a subsidiary of Citigroup Inc. (NYSE: C), offers expats the convenience of handling their financial affairs in offices around the world, as well as online. With the Citi International Personal Account Package and the Citigold checking account, both of which require a minimum balance of $50,000 between deposits and other linked balances within the bank, there is no monthly maintenance fee, and international ATM and transaction fees are waived.

The international footprint of HSBC Holdings PLC (NYSE: HSBC) provides expats an unparalleled physical presence with approximately 6,000 offices in over 70 countries in Europe, Asia, the Middle East and North Africa. HSBC Premier checking offers a variety of features, including no ATM or transaction fees, no annual fees, and emergency cash up to $10,000 if customers' cash or cards are stolen. To qualify for the Premier account, customers must maintain a minimum balance of $100,000 in linked accounts with the bank.

The high interest rate checking account at Alliant Credit Union pays an annual percentage yield (APY) of 0.65% with no minimum balance requirement and no monthly fees. Unlike many banks, credit unions often pass processing charges on transactions through to customers without markups. As a result, fees charged to expats on foreign ATM withdrawals and debit card purchases are 1% of the total transaction.

The ATM Rebate checking account offered by First Republic Bank (NYSE: FRB) offers free withdrawals at 800,000 ATMs around the world, refunds on charges for withdrawals from non-network ATMs and waived transaction fees on debit card use. The account pays interest when a minimum of $3,500 is maintained throughout each monthly statement cycle.

While it only offers online banking, Ally Bank has a robust online interface for expats with free bill paying, no maintenance fees and no monthly maintenance minimums. ATM withdrawals and debit card transactions are charged 1% of the amount of each transaction.

The Xtraordinary Checking account offered by Connexus Credit Union charges $2 plus 1% on international ATM fees and 1% on debit card transactions. However, the 1.75% APY paid on funds in the account up to $25,000 can compensate for those expenses. Connexus offers direct deposits, no maintenance fees and no minimums to earn interest.

For active and retired members of the military who banked with the Navy Federal Credit Union while living stateside, the credit union also adds value for members living abroad. International debit card transactions are charged 0.8%, and ATM withdrawals are charged $1 plus 0.8%. The credit union pays a rebate of up to $10 per month to cover ATM charges for direct deposit accounts. The Flagship Checking account pays tiered dividend rates with a maximum APY of 0.45% for balances over $25,000.

For expats holding investment accounts with Fidelity Investments, the debit card included with the Cash Management Account can be used to withdraw cash from over 1 million ATMs worldwide. Fidelity reimburses all ATM fees and charges 1% on transaction fees. The account also offers travel and emergency assistance, accident insurance and damage waivers for car rentals.

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Ally Bank Interest Checking Account Review

Schwab checking interestUpdated. If you are looking for a flexible alternative to a megabank account with tiny interest but convenient ATM network, here is my review of the Ally Interest Checking Account which I use in conjunction with the Ally Online Savings Account and also Ally CDs. I think they represent a reasonable compromise from your neighborhood credit union with only a few ATMs sprinkled across town. I’ve used this combo for years, and here are my experiences:

User Interface. Below is a screenshot of the main page after logging in (click to enlarge). I can see all of my accounts and their balances at a glance. The overall design is clean and minimalist, and it was recently updated to be more mobile-friendly.

Customer Service. Ally Bank differentiates itself with their customer service. First of all, they are available 24/7 at 1-877-247-ALLY (2559). When you use their smartphone app or log into their website, you can see the wait time beforehand. Even better, if you don’t want to call them you can just use their Live Chat feature.

Security. Ally Bank supports two-factor authentication with security codes sent via either e-mail or text message. They ask for a security code when you log in from a computer they don’t recognize. However, if you’ve logged into that computer before with a security code, they may not ask you again and you can’t choose to have two-factor authentication to always be in effect.

Awards. Ally Bank has won “Best Online Bank” from Kiplinger’s Personal Finance magazine in 2014 and “Best Online Bank” from Money Magazine from 2011-2014.

FDIC Insurance. Ally Bank is a member of the Federal Deposit Insurance Corporation, FDIC Certificate #57803. As with other FDIC-insured banks, this means your Ally deposits are insured by the FDIC up to $250,000 per depositor, for each account ownership category.

Funds Transfers. With no physical branches, online savings accounts should have maximum flexibility as they are often secondary accounts (given most megabank checking accounts pay either no interest or a sad 0.01% APY). Ally Bank allows you to link any other external bank account using the standard routing number and account numbers. As long as you initiate the transfer before 7:30 pm Eastern Time, the transfer will take 2 business days. You can link up to 20 different accounts (it used to be unlimited; but other banks limit to 3; I have 7 myself).

So if I initiate a transfer on Monday afternoon by 7:30pm ET, the money will be debited first thing on Tuesday, and credited to the destination account first thing Wednesday. But know that if you initiate on a Saturday, you’ll get the same result. Even bank computers really don’t like working weekends, it seems. Overall, free transfers within 2 business days during the week is about as good as it gets for online banks.

The transfer limits are also relatively high. On my accounts, I see that I have a $150,000 daily limit outbound and $250,000 daily limit inbound, with a total monthly limit of $600,000 outbound and $1,000,000 inbound. Keeping in mind that all savings accounts from any bank are limited to six withdrawals per month.

ATM Rebates. As of August 15, 2015, Ally Bank will no longer offer unlimited ATM rebates in the US. Here is the new structure:

  • Ally Bank continues to not charge ATM fees on their side of the transaction.
  • Ally Bank has added the Allpoint ATM network, with locations such as CVS and Walgreens pharmacies, Target stores, and 7-11 convenience stores. (Certain other online banks like Capital One 360 Checking also partner with Allpoint).
  • Ally Bank will now limit ATM fee reimbursements to $10 per statement cycle for fees charged by other institutions or ATM owners nationwide.

This is definitely a reduction in the benefit, but honestly I was surprised that it lasted so many years. Ally eliminated their international ATM rebates in August 2011. I used it a few times at a Las Vegas casino at $5 a pop; can you imagine their annual cost if someone did that every few days? For me, if I can find convenient ATMs that charge around $2.50 each, that means I can still go 4 times a month. Their online app also has an ATM locator that works pretty well (see below) .

I’ve made a few ATM withdrawals at random ATMs, and the surcharges have been credited at the end of the month as promised. (I wish they were credited immediately.) International ATMs are not eligible.

Free Overdraft Transfers from Savings. The checking account pays less interest than savings, so it is best to open both and keep as much money as you can in the savings. The Ally Online Savings account pays 0.99% APY as of 7/14/15, and is one of the places I keep my emergency cash reserves.

With their free Overdraft Transfer Service, Ally will automatically transfer the required funds from savings if your checking goes negative. I usually use this service whenever I write a relatively big check or make a large transfer:

Ally transferred an amount equal to a round number near the overdraft amount plus $100. Alternatively, you can set it to auto-transfer a preset amount over if your checking balance dips to a certain threshold. Remember, you can only do 6 withdrawals from savings each money due to banking regulations.

Mobile check deposit. You can use the Ally smartphone app to deposit checks using your smartphone camera. (This is in addition to using your computer scanner and/or free postage-paid deposit envelopes.) I’m not sure if this is the same for everyone, but my deposit limit is $50,000 which is higher than many other electronic deposit programs. I’ve used the app to deposit multiple checks without issue. Screenshot below.

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Mobile app. Available for iOS and Android… you can do all the important stuff – see transactions, transfer funds, deposit checks, pay bills. It can remember your username, but you must type in your password every time. I usually just use my Mint app for checking balances, as that only requires a 4-digit PIN. The overall design is acceptable, and the ATM locator is helpful to find those free AllPoint ATMs or stores that allow cash back with purchase with no fees.

Paper checks. Even though they are an online-only bank, Ally still provides free paper checks. You get a set of 50 to start, but you can always order more online for free. Cashier’s checks are free as well.

Paper statements. If you prefer physical statements via snail mail, you’ll be happy to know that Ally still offers those free of charge. Of course, you have the option of paperless statements as well.

Ally Perks. Ally discontinued their Ally Perks Debit Card Rewards program in 2013.

  • Current interest rate: 0.60% APY for daily balance $15,000 or more, 0.10% APY for daily balances under $15,000 (last checked 7/14/2015)
  • Interest Compounding: accrued daily, compounded daily, credited monthly
  • Minimum to open: $0
  • Minimum requirements to avoid monthly service charge: None
  • Number of external bank account links allowed: 20
  • Routing Number: 124003116

Bottom line. The Ally Interest Checking Account is a solid offering with with no monthly fees, no minimum balance requirement, ATM fee rebates (up to $10 per statement cycle), free online billpay, and the ability to use the savings account as a free overdraft source. Additional features like a flexible funds transfer system and solid 24/7 customer service help differentiate themselves from the competition.

I would highly recommend pairing this account with the Ally Online Saving Account, as you can keep the majority of your fund in the savings account at a higher interest rate. You can then set up the savings account as a free overdraft source, allowing you access to all your funds with no fees to worry about. Ally also has certificates of deposit which offer competitive rates at times.

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

  • 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

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  • 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

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.

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).

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

[WV & VA only] MVB Bank $100 Checking Bonus →
[YMMV & NY only] Suffolk Federal Credit Union $200 Checking Bonus →
[MD, DC & VA only] Sandy Spring Bank 4% Back On All Debit Card Purchases, $100 Limit →
Discover AAA Savings $150/$200 Bonus with $15,000/$20,000 Deposit →

188 Responses to Charles Schwab $100 Checking Account Bonus – No Requirements, Monthly Fees, International ATM Fees + ATM Fee Reimbursements

Hard pull for $100 measly dollars with $10,000 deposit (or is it $1,000, your post mentions both?). Doesn’t seem like a very good deal to me

Dan, the value of this account is not in $100 bonus, but in the benefits for international travelers. No fees on withdrawals and ATM fee reimbursements are awesome. Similar account with Fidelity saved me $100s if not $1000s over the past several years.

Yeah, it’ll also give you access to their credit cards and the account itself is very useful. As I said, not for everybody.

Also worth noting that Aspiration checking account gives you 1% interest, unlimited ATM withdrawals worldwide, and no foreign transaction fees on those cash withdrawals.

The last part is not true about the Aspiration account – they have a 1 percent fee on international ATM withdrawals, which Schwab does not have.

Just want to note, the Schwab One brokerage account is free with the checking, and does not require a $1000 minimum deposit. If you choose that option, you can deposit any amount and will get the $100 in 45 days after the account is opened

Additional requirements: Must add $10,000 in funds

Sorry, that’s from the last post. Removed now.

Does it state the minimum balance required [after] the $1000 initial deposit?

I don’t see it mentioned. Just wondering if the funds can be pulled, yet the

account remains open for the year.

I see nothing in the fine print about any balance being required after the minimum deposit to open…. hmmm this got more intriguing…

What is the process for getting someone to refer you? I have a friend willing to refer me but we don’t know how the referrer actually makes the referral.

You don’t actually need somebody to refer you (as they don’t get anything), just click the direct link in this post.

Alas, piece of cake! Thanks.

More than welcome.

Great timing! Was about to open with them recently but had some questions.

Since it is hard pull, does that mean no Chex inquiry?

Not sure, they are independent of each other usually though. I assume it is a Chex inquiry, but not 100% sure.

Opened this a few months ago! Wonder if they’ll match me…

Somebody asked the same on Twitter, give it a go and let us know if they do match.

They will if you call and ask. I opened the checking and brokerage acct in March and called them Monday 8/15, $100 bonus was deposited on Tuesday!

Do you know what a “new client” means? I’m an AU on my son’s account from when he was on his gap year 2 years ago (that allows me to deposit money in his account and check the balance for him). Need to open an account for my daughter in the next few months. Would we be eligible for the bonus if I’m an AU in the new account?

for what it is worth, I am a type of AU (with a Schwab login as a holder of a power of attorney for a family member’s IRA) and when I called today, the rep said I was eligible. So I went forward with opening the accounts in hopes that I get the bonus along with the hard pull.

Update: I had to call the Investor Development Team at

866-855-9102, 8:30 am – 8 pm ET Monday-Friday, and plead my case to get the bonus. I cited the name of the initial rep that said I was eligible for the bonus and finally got it.

I have a schwab traditional IRA I opened a couple years back. Would I still count as a new customer and still be able to get the $100 bonus from this offer?

Thanks for posting the offer…. anybody with any experience funding a new Schwab brokerage account? Can I fund it with a credit card or will I need to ACH the opening $1000 from another account in order to meet the $1K opening deposit minimum? Thanks…

Any confirmation on ability to fund with CC?

bank ach or brokerage transfers only. unfortunately.

So the offer is for a brokerage account not the standard checking account right? I wanted to take advantage of the $100 offer and ATM benefits, so ill have to create both accounts?

Even without the bonus, you’ll need to open brokerage account anyway when opening the checking account

but the title says checking and all the verbiage in the post is about brokerage.

which one do you need to deposit 1000 in? there is no requirement of 1000 dollar deposit if you just open the checking to my knowlege

Great account to have. Makes it easy to get local currency when traveling anywhere.

I have been informed on Charles Schwab chat that if you open the Investor Checking account with your brokerage account the $1000 minimum deposit is waived for your brokerage account. Therefore, you do not need to put in any additional deposit in to receive your $100 bonus.

Same thing here. I opened a brokerage and checking account and I did not need to fund either one. The customer service rep claimed I’m still eligible for the bonus. I hope he’s right, I saved the chat transcript.

Has anyone gotten their bonus yet? I did not fund mine with $5K, I just put a few dollars in there…but I have not gotten the bonus yet. It’s been 30 days. I might have to contact them with the screen shots I have.

I just received my bonus!!

I opened a brokerage and a checking account under this offer. I funded the brokerage account with $1 and I funded the checking account with $100 and I received a $100 bonus in my brokerage account. Sweet deal!

Okay let me get this straight, do I send the $1000 deposit to the checking account or the brokerage account in order to earn the $100 bonus? The Schwab site isn’t clear? How long do i have to maintain the $1,000 balance?? Thank you.

Curious to know this as well. TIA.

I only see one account (individual account) on the home page. Does this include both the checking account and the brokerage account?

Actually the investor checking account showed up on the second day.

It seems $1K funding is not required. Does anyone know when would they credit $100 with $0 balance?

They won’t. You open the account with $0 balance…..but then you have to transfer in the $1k+.

Do you need to put $1k in the checking account, or can you keep it in the brokerage?

Would opening a new account with this bank count against the Chase 5/24 rule? I am traveling abroad in 2 months and would like to have international ATM fees waived. However, I am also applying for a Chase card in about a month. I know Charles Swachb requires a hard pull but not sure whether it messes with 5/24.

If anybody knows that would be great!

Don’t think it would as it wouldn’t report as a new account, just a hard inquiry.

Any idea if you open the account and apply for a credit card on same day, if the inquiries would be combined?

In the application process there is a checkbox to consent to enroll in Schwab “Cash Features” — is this necessary or beneficial?

Any idea when offer might expire? No exp date mentioned in fine print, that I can see.

Thanks as always for excellent info!

to get $100 bonus I have to open brokerage account first or in any account (I meant checking acct)

One comment on RTC indicates that if you opt out of the Margin option there’s no hard pull done, but numerous Redditers did not have this experience.

I just signed up for checking/brokerage account. Does the checking automatically send a debit card and checks? I’m going to primarily be using this for international ATM usage so I want to make sure a card gets ordered. I didn’t see anything on the set up process that mentioned it.

Love the site by the way. Made some good money with sign up bonuses!

You’ll get a debit card and checks automatically in a week or so.

Don’t think I got a hard pull. How long has ti been taking people to get a debit card? I’ve been getting all kinds of literature and e-mials from Schwab, but no debit card as of yet.

I think I read somewhere on their page that debit card is sent after the first deposit.

^Not the same TJ as me. I got a hard pull. I said no to the margin option. Sucks to get a pull for a checking account but I’ll be traveling internationally so I guess it’s worth it.

I opened both Brokerage and Checking account last week. Brokerage account opened fine, but checking account is still showing “We are not able to retrieve your data at this time, please try again later.” today, their agents kept saying it’s processing up until Tuesday, then now they don’t seem to know what’s going on. This is for both me and my wife’s account. Anyone experience same?

Called Customer Care and they said they could not open account due to “negative items” on Chex. Then talked to Client Verification team and they said:

1) They only pull Chex when there isn’t enough history on Equifax

2) There were negative items on Chex

3) They won’t tell you any more details in terms of what was considered negative

4) When I described what should only be on my Chex report in terms of inquiries, she said I was describing a credit report

5) She said complete Chex report needs to be paid for, perhaps I didn’t receive full report.

6) Brokerage account will also be closed

7) If you had funded money into brokerage account already like I did, the brokerage account is restricted. Restriction need to be lifted by Customer Care in order to withdraw funds

1) I have 10 year history on Equifax with almost 60 total accounts, including a mortgage and car loan, so not sure what “lack of history” means.

2) I just got my Chex report last month, unless something was added on there in the past month, there should not be anything to frown upon on there other than about 7 inquiries in past 12 months.

3) I’m going to assume same scenario with my wife’s account

Anybody get their bonus yet? We are at 30 days now

@Andy Nope. My account is one month old today. Still no sign of the bonus.

Customer service rep says that while you do not need to fund your account to open it (if you are opening a brokerage account + investor checking account). You will need to fund the Brokerage account with min. of $1,000.00 dollars in order to receive the reward offer. Additionally, they may take back the $100 dollar reward if you do not maintain $1000.00 balance in brokerage account for the period of 1 year.

Nowhere in the REFER bonus stipulations does it state the brokerage account needs to be funded with $1K (I opened it with 0 by opening up the linking bank account) nor does it state that that $1K would even need to be held in the account for one year. It just says the brokerage account must be opened and then maintained for at least a year. So it sounds like if we don’t get our bonuses we have complaints with the BBB or the like. Figures these Schwab guys are a bunch of crooks, probably why I have been Fidelity for 20+ years

Opened my account on 7/5, then funded with $1000. Didn’t touch it all, received my $100 bonus today.

Did you have $1k in the brokerage account or the checking account?

$1k in the brokerage, didn’t touch it at all until today (8/9) after receiving the bonus yesterday (8/8). I did put a separate $100 into the checking account on 7/27, just to trigger the debit card and checks sent to me.

received my $100 bonus on 08/08. funded the account with $1000 just to be safe on 07/08

Well, how about that. I received the $100 today after about 35 days upon initial account opening… I had funded the brokerage with 0 by opening the linking bank acct also with 0. I had messaged them on Monday where is the $100 and they replied yesterday to call a certain number and I was going to do that tonight but now I don’t need too Thanks for the info Keith M and to the Doc of course….

Schwab has a brokerage bonus at the moment as well:

Yeah, we stopped posting brokerage bonuses because they weren’t very popular.

That’s surprising. I I wish this Schwab one existed a couple weeks ago because I literally just moved $100k to TDA for $300.

Do you know if the $100 refer bonus (in this post) can stack with the brokerage bonus you’ve linked?

So I tried to ACH Pull the $100 from Schwab brokerage accounts with the original ACH link that was set up when i opened it. They pulled it back and I got charged a $15 returned deposit fee.

I pushed it to Fidelity on 10 Aug, no probs

Opened account July 18th with $50 in checking and $0 on brokerage. Transferred $5.00 into brokerage act on 8/1. Got $100 bonus into brokerage 8/19. Easy peasy.

Sad data point here. I opened the account last week, asking a number of questions through live chat because the process was kind of confusing. The representative said I simply needed to open a brokerage account and fund it with any amount to receive the $100. No other requirements. You have to make sure to open either the checking feature with the brokerage or a linked Schwab checking account to get a debit card, by the way. You can do this either with the initial application or after the fact, with the aid of live chat and some online forms.

But today, when I went on the live chat to make sure my debit card was on the way, they told me my account was being closed due to negative remarks on my Chex report. I have hit the bank bonuses pretty heavily in the past couple years, maybe 15 accounts opened and generally closed as soon as possible. I am guessing that is it. I did accidentally overdraw a checking account one time but quickly corrected it–could that be it too?? This hasn’t happened to me yet in all my churning. Any thoughts anyone reading this has are appreciated.

Anyway, my brokerage account had already been funded and everything. I was not able to transfer the money back to my funding account directly online, the feature was blocked, but a rep on live chat was able to set it up for me. So this may not be worth your hassle (it was a lot!) and possible hard inquiry (none has shown up for me yet, but it certainly could with my next creditkarma / update) if you churn a lot of bank bonuses… or maybe I just got really unlucky.

“and possible hard inquiry”

This was an EQ inquiry for me on 09/07

Note to all: THIS IS NOT A CHECKING ACCOUNT BONUS. This is a brokerage account bonus. That is why you have to deposit $1,000 into the brokerage account.

If you want to take advantage of the far more lucrative brokerage offer, using this offer will disqualify you from that offer, and according to the chat rep, forever. New to firm clients only. As in, anybody who has ever had any sort of Schwab account going back to 1971.

“That is why you have to deposit $1,000 into the brokerage account.”

It’s been reported that a brokerage deposit of a few dollars will trigger

the bonus when it is opened along side a funded checking account.

TJ, when you say “THIS IS NOT A CHECKING ACCOUNT BONUS” which offer is the one you are calling “THIS”.

What offer is the “far more lucrative brokerage offer”?

Is the link you give

one of the above two, or a third offer.

I’ve never had any kind of Schwab account, and I actually do want to open Schwab checking and brokerage accounts, and keep them long term, but I want to maximize whatever signup bonuses I can get for opening both these accounts.

If it’s a once-a-lifetime deal, I’m wondering whether to wait until I can do a bigger deposit, or if to do it now in case the bonus(es) disappear(s) completely.

The $100 offer posted here is for a new brokerage account with a token deposit requirement. You can get a bank account at the same time, but the don’t need to open a bank account hence it is a brokerage bonus not a bank bonus.

If you do that then you aren’t eligible for the offer that gives you $500 for investing $100k with them, which probably will disappear, and return. Schwab doesn’t typically have incentives for brokerage deposits like that, the chat agent claimed one per lifetime unlike other brokerages which let you do-over every year