Charles Schwab Bank vs. Neighbors Bank

Neighbors Bank offers a significantly higher APY of 4.30% on its Neighbors Savings Account, compared to Charles Schwab Bank's Schwab Bank Investor Savings™, which yields only 0.15%. The Neighbors Savings Account is particularly advantageous for balances up to $250,000, as it provides better returns without any direct deposit requirement or maintenance fees. In contrast, Schwab's account also has no maintenance fees and requires no minimum balance, but its APY is substantially lower. Notably, the Neighbors Savings Account is not available in Delaware, while Schwab's account is accessible to all.