Softwr

Software · head to head

Apple Pay vs Charles Schwab

Apple Pay logo

Apple Pay

Software

The easier way to pay and send money

From
Free
Rated
-
Full reviewWebsite
Charles Schwab logo

Charles Schwab

Software

Investing made simple

From
On request
Rated
-
Full reviewWebsite

The short version

  • Only Apple Pay has a free tier, so it costs nothing to try first.
  • Each has a real cost: Apple Pay apple Pay works only in countries and regions that support contactless payments and is not available in all markets; Charles Schwab broker-assisted trades cost $25 and automated phone trades cost $5 in addition to the standard $0 online commission, per the App Store listing for Schwab Mobile
  • They diverge on capability: Apple Pay covers Digital wallet, Charles Schwab covers Commission-free trading.

Where they differ

Only the attributes on which Apple Pay and Charles Schwab actually diverge.

Attributes where Apple Pay and Charles Schwab differ
AttributeApple PayCharles Schwab
Starting priceFreeOn request
Pricing modelfreetransaction
Free tierYesNo
PlatformsIOS, WatchOS, MacOSWeb, IOS, Android
Founded20141971

Identical on both: user rating (Not yet rated), category (Unknown).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Apple Pay

  • Digital wallet
  • Secure payments
  • Contactless transactions
  • P2P money transfers
  • Credit cards
  • Debit cards
  • WatchOS support
  • MacOS support

Only in Charles Schwab

  • Commission-free trading
  • Retirement planning
  • Wealth management
  • Research tools
  • Investment accounts
  • Web support
  • Android support

Both cover

  • Bank accounts
  • IOS support

What people use each for

The jobs each tool is most often brought in to do.

Apple Pay

  • Contactless in store payment from iPhone and Apple Watchnot Charles Schwab
  • Paying in apps and on the web without entering card detailsnot Charles Schwab
  • Sending money between Apple users with Apple Cash and Tap to Cashnot Charles Schwab

Charles Schwab

  • Budget Managementnot Apple Pay
  • Expense Trackingnot Apple Pay
  • Investment Trackingnot Apple Pay

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Apple Pay

  • Apple Pay works only in countries and regions that support contactless payments and is not available in all markets
  • Apple Cash is available only in the 50 United States, the District of Columbia and Puerto Rico
  • Apple Cash Family accounts and Tap to Cash transactions are each capped at 2000 USD within a rolling seven day period
  • Mac support requires a Touch ID equipped model
  • A card works only if the issuing bank supports Apple Pay, and banks may charge their own overseas usage fees

Charles Schwab

  • Broker-assisted trades cost $25 and automated phone trades cost $5 in addition to the standard $0 online commission, per the App Store listing for Schwab Mobile
  • Options trades carry a $0.65 per-contract fee on top of the $0 online commission, per the App Store listing for Schwab Mobile

Pricing, plan by plan

Apple Pay

Free
  • FreeFree
    • Secure payments
    • P2P transfers
    • Transit passes

Charles Schwab

On request
  • Individual BrokerageFree
    • Commission-free trading
    • Research tools
  • Schwab Advisor Services$undefined/month
    • All Brokerage features
    • Wealth management
    • Personal advisors

Which should you pick?

Choose Apple Pay if

  • You need digital wallet.
  • You want to start without paying.
  • You work on IOS, WatchOS, MacOS.
  • You also want secure payments.
Apple Pay review

Choose Charles Schwab if

  • You need commission-free trading.
  • You work on Web, IOS, Android.
  • You also want retirement planning.
Charles Schwab review

Questions people ask

Is Apple Pay or Charles Schwab better?
Neither clearly leads. Apple Pay starts at Free and Charles Schwab at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Apple Pay or Charles Schwab?
Apple Pay has a free tier; the other does not. Paid plans start at Free for Apple Pay and On request for Charles Schwab.
Does Apple Pay or Charles Schwab run on more platforms?
Apple Pay runs on IOS, WatchOS, MacOS. Charles Schwab runs on Web, IOS, Android.
Can I use Apple Pay for free?
Yes. Apple Pay has a free tier, so you can try it without paying. Charles Schwab starts at On request.
What is Apple Pay best used for?
Apple Pay is most often used for contactless in store payment from iphone and apple watch, paying in apps and on the web without entering card details, sending money between apple users with apple cash and tap to cash. Of those, contactless in store payment from iphone and apple watch and paying in apps and on the web without entering card details are not what Charles Schwab is typically brought in for.
What can Apple Pay do that Charles Schwab cannot?
Apple Pay covers Digital wallet, Secure payments, Contactless transactions, P2P money transfers. Charles Schwab covers Commission-free trading, Retirement planning, Wealth management, Research tools. Both handle Bank accounts, IOS support.
ShareXLinkedInRedditWhatsAppEmail

Related pages

More on Apple Pay

More on Charles Schwab

Keep looking

Other head to heads