Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Allen Jay L
 2. Date of Event Requiring Statement (Month/Day/Year)
10/18/2007		 3. Issuer Name and Ticker or Trading Symbol
SCHWAB CHARLES CORP [SCHW]
(Last)
(First)
(Middle)
C/O THE CHARLES SCHWAB CORPORATION, 120 KEARNY STREET		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
EVP - Human Resources
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

SAN FRANCISCO, CA 94108		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 15,931 (1)
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Nonqualified Stock Option (Right to buy) 04/23/2004 04/23/2013 Common Stock 2,622 (2) $ 8.9332 D  
Incentive Stock Option (Right to buy) 04/23/2004 04/23/2013 Common Stock 2,622 (2) $ 8.9332 D  
Nonqualified Stock Option (Right to buy) 12/15/2004 09/30/2011 Common Stock 52,636 (3) $ 8.7616 D  
Nonqualified Stock Option (Right to buy) 10/30/2007 10/30/2013 Common Stock 21,262 (4) $ 18.2915 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Allen Jay L
C/O THE CHARLES SCHWAB CORPORATION
120 KEARNY STREET
SAN FRANCISCO, CA 94108		       EVP - Human Resources  

Signatures

Jay L. Allen 10/25/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Includes 13,431 shares of restricted stock, 3,577 shares which will vest on December 15, 2007 and on December 15, 2008, 1,569 shares which will vest on October 30, 2007, 2008 and 2009, and 1,570 shares which will vest on October 30, 2010.
(2) This option was granted on April 23, 2003 under the company's 2001 Stock Incentive Plan and was fully vested on April 23, 2007.
(3) This option was granted on September 30, 2004 under the company's 2004 Stock Incentive Plan and will be fully vested on December 15, 2007.
(4) This option was granted on October 30, 2006 under the company's 2004 Stock Incentive Plan and vests in four equal annual installments beginning on the first anniversary of the grant date.

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