Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.

How can Schwab afford to refund all my ATM fees?
Schwab is a highly diversified operation and has a multitude of revenue streams.  Schwab obviously thinks it can make more off you than you will cost in ATM fees and it's probably safe to assume most Schwab clients use more services than the ATM card. It's not worthwhile to discuss the accounting of ATM/Debit/Credit card fee norms because for a diversified operation it's about the total relationship, not whether each customer engagement is specifically profitable.   People who get Schwab accounts soley for the ATM fee refunds are in the minority.  In 2016 10-k filing Schwab posted $1.8B in net earnings, 10 million client accounts with a total of $2.78T in client assets.  A couple grand in ATM fees over several years is a rounding error.  "ATM" doesn't even appear in the 2016 10-K.