Headquartered out of Jacksonville, Florida, Everbank offers interest bearing checking accounts that average within the top 5% yields, always. With key elements for both personal and business checking, Everbank provides top-shelf service and accountability.
EverBank is proud of their "forward-thinking" approach that stimulates the creation of smarter ways for people to grow and manage their finances. In addition to helping clients increase their savings and eradicate debt, consumers can also take part in lending and investing ventures with the help of EverBank. The EverBank assets total up to $27.4 billion, with deposits that sit around $18.8 billion, and shareholders' equity that is $1.9 billion.
On the banking side of the business, EverBank provides clients with a number of account options. These cash boosters include: Yield Pledge Checking, Yield Pledge Money Market, Yield Pledge CD, and LIBOR Index CD. All of these accounts come with a number of unique services and features. These account types can be broken down as follows:
Yield Pledge Checking:
Yield Pledge Money Market:
Yield Pledge CD:
Libor Index CD:
The website itself is just as solid and user-friendly as the customer service. All services are easy to find, with fees posted in a very accessible manner. If the fees aren't hidden on the website, chances are they won't be hidden in an open account.
The one aspect that we appreciate more than anything when we look at EverBank and evaluate their service is their rates. They do a good job of making sure their rates stay higher than other banks.
While the company does offer ATM reimbursement, this only applies to those customers who have a $5,000 balance or higher. Additionally, the banking centers appear to be regional to Florida. For those who meet or surpass the required balance won't have to worry about ATM fees, but for those who aren't local to Florida will have to gear up for those pesky charges when withdrawing cash. Other concerns regarding EverBank include:
There is a pretty high deposit minimum to open an account but this is offset by the high rates that EverBank offers. However, you do need to consider that banks in general today are not offering amazing rates so even a bank with great rates is not going to make you any more richer than a bank that offers average rates. You are better off analyzing service than rate when you are considering who you want to bank with. That being said we feel that EverBank offers great service.
Not necessarily a drawback, customers should know that EverBank and TIAA entered into a formal acquisition agreement. These two online bank providers will become "one" in the middle of the 2017 year.