Has Anyone ever heard of Everbank?

[tbhd]

When we were reviewing things with our financial adviser (ha ha) Friday he suggested that we might be interested in changing banks. Everbank pays a lot higher interest on your checking and savings supposedly because they don't have all the over head of branch offices. It's all done over the internet. It is FDIC insured and has been in business since 1999. Has anyone had any experience with this bank or one similar? Seems like it would be especially if you were fulltiming. I don't know I'm chicken--don't want to mess up. That financial guy(ha ha) has had his for about six months and has had no problems.

[BillyRay]

not here anyway.

[ronstan]

Call your BBB and ask them about it. They should be able to check them out for you.

Here is the web site
http://www.everbank.com/main.asp?IDPage=hme&affid=eb

[sreigle]

What interest rate are they paying?

[richfaa]

Don't see how they can pay some of those rates..why does the saying "if it sounds to good to be true, then it's to good to be true" keep ringing in my ears.

[sreigle]

Followed the link for the freenet checking, then the link for the 'introductory rate'. It's a 3-month introductory rate, then drops to their normal rate based on your balance. Even so, the rate for balance less than 10 grand is still over 2%. However, they have the usual disclaimers that the rate can change at any time but they also say they guarantee the rate will remain within the top 5%. I'd be willing to bet the outside of that 5% is way below 2%. Maybe they'll keep the rate high relative to others but this smacks of a gimmick to get new business. I personally wouldn't keep enough in the account to earn their highest rates when that same money can do so much better in other vehicles. Just my opinion.

[steves]

It's difficult these days to find a good place to keep (liquid money)and get a good interest rate. I've been looking at ING and will probably move some cash into their savings accounts which is paying 3 %. Youan get at the $ anytime by setting up a transfer to your regular bank.

[tbhd]

Steve you have the interest rate correct. I even called them but I guess for now I'll just keep a eye on it. I'm just a chicken!!

[sreigle]

Re-reading this thread my post sounds like I'm really negative on that bank. That's not the case. Their approach to draw business, if that's what it is, is not at all unusual. Any time you can make a few bucks more it deserves consideration. For those in the right situation this might be a good deal.

[Montana_4353]

Everbank is not only an Online Bank. They have a MAJOR presense here in Jacksonville. They have been sited as the fastest growing bank here. They are very strong and not going anywhere soon. I pass by the HQ every now and then, and it's booming. If it looks interesting to you, check them out further. Call the Jacksonville Regional Chamber of Commerce and the BBB here in Jacksonville. I am sure you will get positive feedback. For you situation, I think it would be a good move.