EverBank Review: Highly-Rated CD, Money Market and Checking Accounts (2024)

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EverBank Overview

EverBank expresses the goal of providing solutions for the unique financial needs of its clients. Although the bank is based in Jacksonville, Florida, residents of all U.S. can open an account and handle their banking needs using the website or mobile app. GOBankingRates has rated EverBank as one of the Best Online Banks, Best CD Accounts, Best Checking Accounts and Best Money Market Accounts of 2024.

EverBank: Key Features

EverBank stands out for several reasons. Here is a closer look at some of the top features it offers.

Checking Accounts

Although the accounts are online, mobile check deposits and access to a large network of ATMs and EverBank-affiliated free ATMs. This makes it possible to handle your everyday banking needs anytime. EverBank offers two low-fee accounts and was rated among the Best Checking Accounts of 2024 by GOBankingRates.

• Basic Checking: You need $25 to open the account.
• EverBank Yield Pledge Checking: Accounts earn interest on all balance tiers and there is a $100 minimum for the account. The combination of $0 overdraft transfer fees, $0 monthly account fees and a competitive interest rate. This makes it one of GOBankingRates’ picks for Best Checking Accounts of 2024.

Savings Account

EverBank has one type of savings account, its EverBank Performance℠ Savings account. Although the national online bank with financial centers in Florida doesn’t provide other options, it’s still an award-winning choice. Here are some factors to consider:

• $0 monthly maintenance fee
• $0 minimum balance
• Competitive APYs available at .
• It’s the least customizable and most standard of all account types at EverBank but it covers all the needs of a savings account.

CD Accounts

EverBank’s certificate of deposit accounts are a collection of award-winning CDs, ranging from its Basic to its well-regarded Intrafi® Network Deposits. CDs are a great way to earn high returns that are virtually risk-free — as long as you don’t need to access the funds for the agreed-to term.

Due to their offerings, GOBankingRates has ranked EverBank among the Best CD Accounts of 2024. Here are some key takeaways:

• If you have $1,000 to $1,500 to start with, the Basic or Bump Rate CDs are your options.
• The Basic CD comes with terms of three months to five years with competitive APY rates.
• Investing $1,500 into a Bump Rate is a lucrative option if you can set the money aside for 3.5 years — you can bump your rate up once during the term if the bank’s rate increases.
• Higher investments of $10,000 qualify for an IntraFi Network Deposits CD. The APYs tend to be lower, but this account offers expanded FDIC insurance and coverage — into the millions of dollars rather than the typical $250,000. So if you want to keep more money in a single insured account, this may be a good option for you.

Money Market Account

The EverBank Performance Money Market Account offers some of the highest interest rates of any bank. Customers are guaranteed an intro APY of for the first year of balances up to $250,000.GOBankingRates has ranked it among the Best Money Market Accounts of 2024 and here are some key features of the account:

• No minimum opening deposit
• No minimum account balance
• No monthly maintenance fee
• APY
• Pledges to be in the top 5% of competitive money market accounts

Banking Experience

EverBank’s focus on providing banking services for everyone is a strong point. Anyone who is a legal resident of the U.S. can access the award-winning online banking products including checking, savings, money market accounts and CDs.

Except for the savings and money market account categories, you’ll find basic and premium account options. This gives you the option to start small with a basic account and upgrade to a higher-tier account when you have a higher balance to work with.

Customer Service

Not all EverBank customers have access to in-person service, especially those who do not happen to live near one of its branch locations.

To make up for the lack of brick-and-mortar branches, customer service agents are available to help by phone. You can speak to a customer service representative at 888-882-3837. They’re available on weekdays from 8 a.m. to 8 p.m. EST and Saturdays from 9 a.m. to 7 p.m. EST.

You can also reach out via email on the bank’s website.

Mobile and Digital Experience

You can easily get your banking done through the EverBank website, including scheduling bill payments and bank transfers. In addition, the mobile app is a great way to handle your basic banking services 24/7 and it is highly rated.

• Google Play: 4.5 out of 5 stars
• Apple Store: 4.7 out of 5 stars

Standout mobile app features include check deposits, watch compatibility, access to customer service and the option to create savings goals. In addition, EverBank’s mobile app is integrated with smart-device security, such as Touch ID, face recognition and password access.

How Does EverBank Compare?

Before deciding on a bank, it’s always a good idea to see how it stacks up against the rest of the field. Here’s a look at how EverBank compares to some of its competitors.

EverBank vs. Capital One

EverBank and Capital One both offer competitive rates and a variety of low-cost accounts. However, EverBank edges out Capital One when it comes to the number of accounts available. Capital One does not offer a money market account. EverBank offers one, as well as basic and deluxe versions of a checking account.

EverBank vs. Ally Bank

If you want a simple way to bank with the least amount of fees, choose Ally Bank. Both online banks have low fees but the few they charge, such as stop payment or wire transfer fees, are lower at Ally Bank. On the other hand, EverBank’s Performance products come with the promise that the yields offered are in the top 5% of Competitive Accounts, so you can feel confident your money is guaranteed to grow with a great rate.

EverBank vs. Synchrony

Synchrony is best for customers looking for a simple savings account solution. EverBank beats Synchrony when it comes to financial products — you’ll have access to checking accounts in addition to savings.

Final Take

EverBank is a great option for those customers who value high yields and diverse options over in-person banking. Customers with more liquidity and enough money to open EverBank’s Performance accounts, whether in checking or a money market, may find the bank’s rates very competitive.

EverBank’s variety of high-yield CDs are a great way to grow your money with up to five-year terms. Consider opening an account with EverBank as GOBankingRates has ranked EverBank as one of the Best CD Accounts, Best Checking Accounts, Best Money Market Accounts andOnline Banks for 2024.

Caitlyn Moorhead contributed to the reporting for this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 28, 2023.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

To determine rankings for the Best Checking Accounts, GOBankingRates looked at the following factors from all banks (excluding neobanks): (1) total assets as sourced from the FDIC; (2) number of branch locations as sourced from the FDIC; (3) minimum deposit to open an account; (4) monthly checking fee ratio (percentage based on the minimum to avoid the fee compared to the monthly fee itself); (5) APY on the checking account; (6) overdraft fee amount; (7) the average mobile app rating between the Google Play (Android) and Apple app stores. All factors were then scored and combined, with the lowest score being the best. Factors (1), (2) and (5) were weighted 0.5 times, and factor (4) was weighted 1.5 times.

To determine rankings for the Best CD Accounts, GOBankingRates looked at the following factors from all banks (excluding neobanks): (1) total assets as sourced from the FDIC; (2) number of branch locations as sourced from the FDIC; (3) minimum deposit to open an account; (4) 12-month CD APY; (5) 60-month CD APY; and (6) the average mobile app rating between the Google Play (Android) and Apple app stores. All factors were then scored and combined, with the lowest score being the best. Factors (1) and (2) were weighted 0.5 times, factor (3) was weighted 2 times, and factors (4) and (5) were weighted 4 times.

To determine rankings for the Best Money Market Accounts, GOBankingRates looked at the following factors from all banks (excluding neobanks): (1) total assets as sourced from the FDIC; (2) number of branch locations as sourced from the FDIC; (3) minimum deposit to open an account; (4) APY on the money market account; (5) the minimum balance needed to earn the APY; (6) monthly money market fee ratio (percentage based on the minimum to avoid the fee compared to the monthly fee itself); and (7) the average mobile app rating between the Google Play (Android) and Apple app stores. All factors were then scored and combined, with the lowest score being the best. Factors (1) and (2) were weighted 0.5 times, and factor (4) was weighted 4 times.

To determine rankings for the Best Online Banks, GOBankingRates looked at the following factors across exclusively online banks: (1) total assets as sourced from the FDIC; (2) monthly checking fee ratio (percentage based on the minimum to avoid the fee compared to the monthly fee itself); (3) savings APY; (4) 1-year CD APY; (5) Bauer rating (out of 5 stars); (6) products/services offered (auto loans, mortgage loans, credit cards, investment services and insurance); and (7) the average mobile app rating between the Google Play (Android) and Apple app stores. Factors (1) and (2) were weighted 0.5 times, and factors (3) and (7) were weighted 2 times. For all savings and checking account data, only the basic accounts/products offered at each institution were analyzed.