diff --git a/broker_sync/providers/imap.py b/broker_sync/providers/imap.py
index e935bab..9d52478 100644
--- a/broker_sync/providers/imap.py
+++ b/broker_sync/providers/imap.py
@@ -163,7 +163,11 @@ def fetch_activities(creds: ImapCreds) -> list[Activity]:
         if sender in _IE_SENDERS or sender.endswith("@investengine.com"):
             out.extend(ie_parser.parse_invest_engine_email(raw))
             ie_parsed += 1
-        elif sender in _SCHWAB_SENDERS or sender.endswith("@schwab.com"):
+        elif (
+            sender in _SCHWAB_SENDERS
+            or sender.endswith("@schwab.com")
+            or sender.endswith(".schwab.com")  # e.g. donotreply@mail.schwab.com
+        ):
             html = _html_or_text(msg)
             out.extend(parse_schwab_email(html))
             schwab_parsed += 1
diff --git a/tests/providers/test_imap.py b/tests/providers/test_imap.py
index 63638cb..9c1fe8d 100644
--- a/tests/providers/test_imap.py
+++ b/tests/providers/test_imap.py
@@ -99,3 +99,18 @@ def test_non_ie_activities_passed_through_unchanged() -> None:
     routed = _split_ie_by_isa_cap([schwab_act])
     assert routed[0].account_id == "schwab-workplace"
     assert routed[0].account_type is AccountType.GIA
+
+
+def test_schwab_subdomain_sender_matches() -> None:
+    """Real Schwab trade emails come from `donotreply@mail.schwab.com`
+    (subdomain), not just `donotreply@schwab.com`. The matcher must
+    accept either form."""
+    from broker_sync.providers.imap import _SCHWAB_SENDERS
+    # Verify the static set works
+    assert "donotreply@schwab.com" in _SCHWAB_SENDERS
+    # Verify the subdomain suffix check
+    for addr in (
+        "donotreply@mail.schwab.com",
+        "wealthnotify@equityawards.schwab.com",
+    ):
+        assert addr.endswith(".schwab.com"), addr