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EverBank Review 2024

Updated January 2, 2024
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At a glance

Best savings account
4.9
Rating: 4.9 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 4.6 stars out of 5

Checking

Rating: 4.7 stars out of 5

Savings

Rating: 5 stars out of 5

MMA

Rating: 5 stars out of 5

About Bankrate Score

Overview

EverBank is good for customers who want a full-service online bank with competitive deposit yields. It offers checking, savings and money market accounts as well as certificates of deposit.

Highlights

  • ATM Fee Refunds
  • High APY
  • Low Fees
Compare offers
Info
Bank logo
Member FDIC
Savings Account
4.35
%
APY
APY
Info
As of 3/19/2024
Rating: 4.9 stars out of 5
$1
Min. balance for APY
View offer Arrow Right
Promoted offer:
Bank logo
Member FDIC
Checking Account
0.00
%
APY
APY
Info
As of 3/19/2024
Rating: 3.9 stars out of 5
$25
Min. balance for APY
View offer Arrow Right

Overall

EverBank is an online institution offering deposit accounts with competitive rates and low minimum balances, and customers have access to almost 100,000 fee-free ATMs. While the bank maintains branches, only a limited number are available, mainly in Florida.

EverBank earned the Best Savings Account honor in the 2024 Bankrate Awards.

Pros

  • Checkmark

    EverBank offers competitive yields on CDs.

  • Checkmark

    The bank provides access to thousands of surcharge-free ATMs.

  • Checkmark

    It offers a variety of services and products.

Cons

  • The bank has a limited network of full-service branches.

  • EverBank doesn’t offer a no-penalty CD.

EverBank banking products

5.0
/5
Rating: 5 stars out of 5
See methodology Compare savings rates

SCORE BREAKDOWN

APY offering:
5.15%
Rating: 5 stars out of 5
5/5
Info
Minimum balance to earn interest:
$0.00
Rating: 5 stars out of 5
5/5
Info
Monthly service fee:
$0.00
Rating: 5 stars out of 5
5/5
Info
Minimum balance to avoid fee:
$0.00
Rating: 5 stars out of 5
5/5
Info
Access to funds:
Great
Rating: 5 stars out of 5
5/5
Info

FEATURES

EverBank savings overview

The EverBank Performance Savings account earns more than the national average APY. There’s no minimum deposit required to open the account. During Bankrate’s review, all balances were earning the same competitive yield.

Pros

  • Checkmark

    All balances earn a very high APY.

  • Checkmark

    There’s no monthly account fee.

  • Checkmark

    You can deposit checks via a mobile device with this account.

  • Checkmark

    EverBank doesn’t have a minimum opening balance requirement for its Performance Savings account.

Cons

  • Some savings accounts offer slightly higher yields.

  • See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

    EverBank
    APY
    APY
    Info
    National average APY
    How do we get this data?
    Info
Compare Offer
Info
Bank logo
Member FDIC
Savings Account
4.35
%
APY
APY
Info
As of 3/19/2024
Rating: 4.9 stars out of 5
Info
$1
Min balance for APY
View offer Arrow Right
Promoted offer:

Bank fees

Fee Charged?
Overdraft fee None
Non-sufficient funds fee None
Monthly maintenance fee None
Out-of-network ATM fee $0
Excessive transaction fee None

About EverBank

TIAA Bank now operates as EverBank as of Aug. 1, 2023. 

It is an online bank available to customers in all 50 states.

Conveniences EverBank offers include a user-friendly mobile app, access to nearly 100,000 fee-free ATMs nationwide, low minimum balance requirements and peer-to-peer payment capability through Zelle.

Bank experience

EverBank serves customers in all 50 states. Its mobile app is highly rated by both iOS and Android users.

EverBank provides access to thousands of surcharge-free ATMs. The bank also automatically reimburses customers up to $15 a month for any fees that ATMs in the U.S. charge for access. For accounts with balances of $5,000 or more, the bank reimburses an unlimited amount of ATM fees.

Customers can send and receive funds using Zelle through EverBank online banking or the EverBank mobile app.

Customer service is available by phone weekdays 8 a.m. to 8 p.m. Eastern time and Saturdays from 9 a.m. to 7 p.m.

How does EverBank compare to other banks?

EverBank vs. Ally Bank

You’ll get a similar experience at both EverBank and Ally banks.

EverBank and Ally banks offer just about every consumer deposit product you could think of, with high yields to boot. With both banks, you’ll get a mostly online-only experience, but the large ATM networks hosted by both Ally and EverBank — and often no fees for using out-of-network ATMs — bring you physical access to your cash across the country.

That noted, EverBank offers a couple more standard CDs when compared to Ally, and those yields tend to be higher, too. Likewise, you’ll earn higher yields when you park your money in EverBank’s savings and money market accounts.

EverBank FAQs

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.