idiotalerts is indeed wrong about his comment that 7 figure balance holders don't use Schwab.
With that being said, Schwab's interest rates are absolutely sickening.
On their non FDIC insured money funds where your principal is actually at risk, they pay 1/100 of 1% interest and then go on to say how much they strive to pay competitive interest rates on all parts of their customer's portfolios.
If you deposited $1,000,000 into one of these Schwab funds and left it in there for a full year, you would be paid a grand total of $100 in interest for the entire year.
They do offer funds which require a $1,000,000 balance or higher and pay 1/10 of 1% interest and they act like its the best thing since sliced bread.
Of course, they are still charging 8.25% for monies borrowed on margin.