EverBank Review 2024
Top story
EverBank Review 2024
5 min read
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By: Aldo Saenz

EverBank

 

EverBank was founded in 1961 with the acquisition of Alliance Mortgage Company by Robert Clements. In 2002, First Alliance acquired EverBank, which officially took the name two years later. It now operates mostly as an online-only bank, but it also operates nine branches in Florida.

 

 

Featured Offers

EverBank logo
Bank Grade
Top 5% rate
5.15% APY
EverBank Performance Savings
High Yield Savings by EverBank
Arundel Federal Savings Bank logo
Bank Grade
Top 1% rate
6.23% APY
Goal Maker Savings
High Yield Savings by Arundel Federal Savings Bank
TAB Bank logo
Bank Grade
Top 1% rate
5.27% APY
TAB Save
High Yield Savings by TAB Bank
Newtek Bank logo
Bank Grade
Top 3% rate
5.25% APY
Personal High Yield Savings
High Yield Savings by Newtek Bank
Bread Financial logo
Bank Grade
Top 5% rate
5.15% APY
High-Yield Savings Account
High Yield Savings by Bread Financial
EverBank logo
Bank Grade
Top 5% rate
5.15% APY
EverBank Performance Savings
High Yield Savings by EverBank
Evergreen Bank Group logo
Bank Grade
5.12% APY
High-Yield Online Savings
High Yield Savings by Evergreen Bank Group
Texas Capital Bank logo
Bank Grade
5.10% APY
Star High-Yield Savings Account
High Yield Savings by Texas Capital Bank
Home Loan Investment Bank logo
Bank Grade
5.10% APY
Soaring Savings
High Yield Savings by Home Loan Investment Bank

EverBank Overview

 

EverBank is an online bank that offers a wide range of banking products, such as checking, CD, money market, and savings accounts, with competitive APYs. It also operates eight branches in Florida and allows fee-free access to more than 100,000 Allpoint and MoneyPass ATMs all across the country.

Competitive APY on its high-yield savings account.Minimal number of branches, all located in Florida.
Competitive APY on CDs.Most CDs require higher minimum opening deposits.
Peer-to-Peer transactions available via Zelle.
Fee-free access to more than 100,000 ATMs Allpoint and MoneyPass ATMs nationwide.

 

 

 

EverBank Product Offerings

 

CDs

A certificate of deposit (CD) is a form of savings account that pays a fixed interest rate on the money in the account for a certain period, known as a term. EverBank offers CDs with terms ranging from three months to five years. Most of its CDs offer APYs higher than the national average for their respective terms. Here are the details for some of the bank's CD offerings for the month! and 2024:

EverBank
3 Month Yield Pledge CD
3 Month CD by EverBank
Bank Grade
B-
APY
5.05%
Avg. user rating
2.40
Why we chose it?
What to watch for

EverBank
6 Month Yield Pledge CD
6 Month CD by EverBank
Bank Grade
B-
APY
5.15%
Avg. user rating
2.40
Why we chose it?
What to watch for

Checking Account

EverBank offers several different business- and personal-checking accounts. Most of the checking accounts offer APYs below the national average of 0.14% for checking accounts. Although there are some accounts that do not have any monthly service charges, others do have a relatively high monthly charge and require a minimum opening deposit. Here are the latest account details for April 2024:

EverBank
Yield Pledge Checking
Personal Checking Account by EverBank
Bank Grade
B-
APY
0.45%
Avg. user rating
2.40
Why we chose it?
What to watch for

EverBank
Small Business Checking
Business Checking by EverBank
Bank Grade
B-
APY
0.50%
Avg. user rating
2.40
Why we chose it?
What to watch for

Money Market Accounts

A money market account is an interest-bearing hybrid between a savings account and a checking account. EverBank offers a few personal and business money market accounts. Both offer yields that are higher than the national average of 0.83%. Here are the account details for April 2024:

EverBank
Yield Pledge Money Market
Personal Money Market by EverBank
Bank Grade
B-
APY
3.75%
Avg. user rating
2.40
Why we chose it?
What to watch for

EverBank
Business Money Market
Business Money Market by EverBank
Bank Grade
B-
APY
1.35%
Avg. user rating
2.40
Why we chose it?
What to watch for

Savings Accounts

A savings account is a type of interest-bearing bank account that offers principal security and is designed for saving money. EverBank offers one personal savings account. This account offers a yield higher than the national average of 0.56%. Here are the latest savings account details for April 2024:

 

 

 

EverBank
EverBank Performance Savings
High Yield Savings by EverBank
Bank Grade
B-
APY
5.15%
Avg. user rating
2.40
Why we chose it?

Bank Fees

  • Overdraft fee: None

  • Savings and Money Market Account withdrawals: None

  • Account closure fee: None

  • Wire transfer fee: Domestic - Incoming is $0 and outgoing is $25; International - Incoming is $0 and outgoing is $35 in a foreign currency and $65 if in U.S. dollars.

  • Non-network ATM fee: None

  • Monthly service charge: None

  • Stop payment fee: $25

  • Paper statement fee: None

 

EverBank Features

EverBank customer service representatives are available via phone from 9 a.m. to 5:00 p.m. Monday through Friday EST. The bank's mobile app allows customers to manage their accounts and provides some financial tools to help customers manage their finances. Customers also have access to their accounts via the more than 100,000 Allpoint and MoneyPass ATMs throughout the country.

 

EverBank FAQs

How do I deposit money into my EverBank accounts?
Does EverBank have any branches?
Is it safe to bank with EverBank?
How do I open an EverBank account?
Does Varo Bank use Zelle?
What are EverBank's customer service phone hours?

 

Our Take

EverBank offers a number of CDs with varying terms and competitive APYs. The minimum deposit requirement is a bit higher than normal, but well worth it if you have money to set aside and are looking to have it grow just that much faster. Their savings account is also an excellent choice for those looking for a basic yet high-yielding savings account that can be opened online. All around, EverBank is a good choice for individuals looking for an online bank that offers competitive APYs and a wide range of products. It is also especially useful for Florida residents who live in close proximity to one of their eight branches.

Methodology

 

Our editorial staff continually updates the information contained on our website. Our editorial staff has analyzed virtually all of the banks and credit unions that it follows, and it does weekly rate analysis for more than 250 prominent banks and credit unions. These institutions were chosen because they provide competitive APYs, low fees, and other factors we find important. These banks and credit unions often provide accounts that are available nationally. All of these banks are FDIC-insured, and all of these credit unions are NCUA-insured. Choosing an FDIC-insured bank or an NCUA-backed credit union assures that your money is protected as long as it stays within insurance limits and requirements.

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