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 *   MARTINETTO JOSEPH R 2. Date of Event Requiring Statement (Month/Day/Year) 05/18/2007 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 and CFO 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 38,283 D   Common Stock 522.796 I by ESOP

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
Incentive Stock Option (Right to Buy)	07/18/2005(5)	07/18/2011	Common Stock	2,600	$ 15.02	D	Â
Incentive Stock Option (Right to Buy)	02/29/2004(6)	02/28/2011	Common Stock	4,918	$ 20.9	D	Â
Incentive Stock Option (Right to Buy)	02/25/2000(1)	02/25/2009	Common Stock	9,000	$ 23.3125	D	Â
Incentive Stock Option (Right to Buy)	02/23/2001(1)	02/23/2010	Common Stock	5,060	$ 26.375	D	Â
Nonqualified Incentive Stock Option (Right to Buy)	12/15/2004(7)	09/30/2011	Common Stock	50,183	$ 9.19	D	Â
Nonqualified Incentive Stock Option (Right to Buy)	11/08/2004(8)	11/08/2012	Common Stock	5,000	$ 9.71	D	Â
Nonqualified Incentive Stock Option (Right to Buy)	09/24/2002(2)	09/24/2011	Common Stock	12,600	$ 10.2	D	Â
Nonqualified Incentive Stock Option (Right to Buy)	07/18/2002(2)	07/18/2011	Common Stock	60,400	$ 15.02	D	Â
Nonqualified Incentive Stock Option (Right to Buy)	10/30/2007(4)	10/30/2013	Common Stock	19,820	$ 19.186	D	Â
Nonqualified Incentive Stock Option (Right to Buy)	05/04/2001(3)	05/04/2011	Common Stock	3,000	$ 20.68	D	Â
Nonqualified Incentive Stock Option (Right to Buy)	02/28/2002(1)	02/28/2011	Common Stock	5,082	$ 20.9	D	Â
Nonqualified Incentive Stock Option (Right to Buy)	02/25/2000(1)	02/25/2009	Common Stock	9,000	$ 23.3125	D	Â
Nonqualified Incentive Stock Option (Right to Buy)	11/01/2000(1)	11/01/2009	Common Stock	7,500	$ 25.9167	D	Â
Nonqualified Incentive Stock Option (Right to Buy)	02/23/2001(1)	02/23/2010	Common Stock	2,441	$ 26.375	D	Â
Nonqualified Incentive Stock Option (Right to Buy)	12/15/2003(6)	12/15/2010	Common Stock	30,000	$ 28.75	D	Â
Nonqualified Incentive Stock Option (Right to Buy)	10/25/2001(1)	10/25/2010	Common Stock	5,000	$ 31.0625	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
MARTINETTO JOSEPH R C/O THE CHARLES SCHWAB CORPORATION 120 KEARNY STREET SAN FRANCISCO, CA 94108	Â	Â	  EVP and CFO	Â

Signatures

Joseph R. Martinetto		05/21/2007
**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)	The option was granted under the 1992 Stock Incentive Plan and vest in four equal installments beginning on the first anniversary of the grant date.
(2)	The option was granted under the 2001 Stock Incentive Plan and vest 35% on the first anniversary of the grant date, 25% on the second anniversary of the grant date, and 20% on each of the third and fourth anniversary of the grant date.
(3)	The option was granted under the 1992 Stock Incentive Plan and vested immediately.
(4)	The option was granted under the 2004 Stock Incentive Plan and vest in four equal installments beginning on the first anniversary of the grant date.
(5)	The option was granted under the 1992 Stock Incentive Plan and vested 100% on the fourth anniversary of the grant date.
(6)	The option was granted under the 1992 Stock Incentive Plan and vested 50% on each of the third and fourth anniversary of the grant date.
(7)	The option was granted under the 2004 Stock Incentive Plan and vests 25% on each December 15 of 2004, 2005, 2006 and 2007.
(8)	The option was granted under the 2001 Stock Incentive Plan and vested 25% on each of the second and third anniversary of the grant date and 50% on the fourth anniversary of the grant date.

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