Everbank was established in 1961 and now has a total assets of 21.6 Billion. Their form of banking is different than the traditional style of banking. Their goal is to give the consumers high APY both for checking and for savings. They have committed to be within the top 5% of APY in the nation. Their banks are located throughout Florida but they are accessible everywhere through online banking and have lending offices across the country.
Everbank is not the traditional bank where the APY is next to nothing. They provide high APY for the first year and still keep it to .30% after the first year.
They also do not believe in ATM fees when consumer use other bank ATM's Everbank will refund you completely as long as you have $5,000 balance in account.
They provided services with checking, CD, Money Market, FDIC insurance, Premium Visa, and Global deposits.
Your savings account is your checking account which can be converted to an IRA account but no savings account. The APY that they advertise at the top of their web page 0.85%-1.01% is only available for the first year with Everbank and then after that the rates drop to 0.30%-0.61% depending on the balance of account.
There are still account fees with overdraft or wire transfers but no ATM fees if you have 5,000 in account which means if you want that benefit the opening deposit is 5,000. For the other accounts there are high deposits as well.