6.01% promo rate at everbank

Good for only three months. Still it is way better than the best 3 month cds.
They get pretty good reviews on the forums at bestcashcow

Anyone here have any experience or opinions about this offer.
everbank

Thanks for the heads up! The old promo was 4.5%!

How is everbank's service compared to Emigrant or HSBC?

thanks

I opened the Everbank account a couple of weeks ago at 4.5apy, to park some money till CD rates hopefully rise a bit more or for 3 months maximum.
Called today to ask if I'd get the 5.01%,and to my surprise YES!

note the CD rate sticky.. apparently that posts efforts to try to avoid cluttering this board with individual posts was misguided...

Ive always avoided these guys and their promo rates.

Is it worth the trouble ?

fivetalents said: julio150 said: I have an account with these folks. I opened it when the introductory rate was much lower. When the dropped the rate, I left my money there. While I don't approve of giving a higher rate to new customers, they give great service. I wish that I could get the 5.01% right now, and if I weren't an account holder I would be jumping at this one.

Whenever Emigrant ups their rates they not only extend the rate to new customers, but also automatically give current customers the new rate (no request necessary). I'm glad that boomp and mbaker4096 were able to get theirs rates raised, but IMHO they should not have had to ask in the first place.
I just verified if I got 5.01%,would have received it without asking.Did not have to ask to raise it.
Everbank is more than fair. They had my cash and 4.5%is above average so I would have stayed.They probably count on some people staying after 5.01% drops at 3 months.

boomp said: fivetalents said: julio150 said: I have an account with these folks. I opened it when the introductory rate was much lower. When the dropped the rate, I left my money there. While I don't approve of giving a higher rate to new customers, they give great service. I wish that I could get the 5.01% right now, and if I weren't an account holder I would be jumping at this one.

Whenever Emigrant ups their rates they not only extend the rate to new customers, but also automatically give current customers the new rate (no request necessary). I'm glad that boomp and mbaker4096 were able to get theirs rates raised, but IMHO they should not have had to ask in the first place.
I just verified if I got 5.01%,would have received it without asking.Did not have to ask to raise it.
Everbank is more than fair. They had my cash and 4.5%is above average so I would have stayed.They probably count on some people staying after 5.01% drops at 3 months.

That's good, and as it should be

good deal. opened an account.

GreedySaver said: how fast is the transfering in and out? can you ACH like ED, Ing or HSBC? do you lose interest doing the transfer? is it fast to open the account?

routing said: good deal. opened an account. They supposedly have a mechanism for doing in/out-bound transfer, but I'm still trying to figure out how it works. You can't directly add accounts for external transfers...supposedly you add them to the list of aggregated accounts and then someday, eventually you can begin making external transfers to these linked in accounts.

Their website is a weird variant of the same back-end service that UFB Direct, CapitalOne, and Emigrant Direct all use. It's a half-breed, stuck somewhere between an early revision of Yodlee's aggregation service and the already awkward UIs that these other banks sport.

Regarding deposits, I've only mailed checks in to date, but note that they're very liberal (in their own favor) in how they determine monthly interest. Every mailed deposit doesn't begin accruing interest for two business days after the deposit is registered. That means that if they receive the deposit on Thursday or Friday, interest doesn't begin accruing until Monday or Tuesday. I haven't asked about EFT / ACH, because I haven't been able to move funds in this manner to date.

One final note, linking to this account from my CapitalOne Savings account was an exercise in patience as well. I tried linking them up 3 times to no avail -- the trial deposits / withdrawals just never showed up. Finally called customer service to ask them what the deal was and tried it one more time while on the line with the CSR (with the same information) and the next day, the trial transfers finally went through. In contrast, I've had no troubles linking up 15-16 other accounts to my CapitalOne Savings account.

vickh said: any promo codes for opening an everbank account??Nope. They pay you to leave, not to join.

Time to move money here for those who got stuck having money in ING before ING's winter sale.

Yep. They really pay you to leave.

Here's the link to their Satisfaction Guarantee.

fw201 said: Well, I will be taking them up on that if they dont extend the top rate for me.

Im not looking for a checking account, Im looking for a place to park cash with quick access if needed.



I'm with you on moving to everbank. I was so pissed that existing customers who left money in ING were hosed.

I hope this isn't a duplicate post -- I tried a minute ago but it disappeared...

Does anyone know if Everbank runs these nice new-account promos pretty regularly? If so, I'll wait till later this year when I come into some money. But if not, I should open one now, as a destination for a couple of new BTs and some money from Presidential.

Got a message from ING reminding me of the promo they have for new money today. A couple of days before the offer started I made a big transfer into ING of a windfall I received and was not going to keep in cash for too long. Got really pissed off as it did not qualify but since just opened an account at Everbank I transferred. The stinky message today really got me so I wrote back to them basically saying "drop dead, I am off". Wonder what they will say?

summer2005 said: The stinky message today really got me so I wrote back to them basically saying "drop dead, I am off". Wonder what they will say?

lol

hokie94 said: Everbank is just as bad, if not worse, than HSBC when it comes to ACH pulls.

Here's their disclosure:

"As your agent, you authorize EverBank to ensure your transaction request(s) originating from non-EverBank accounts will clear before being deposited to EverBank accounts, or that your funds are “good”, before the EverBank destination account funds are released. You understand and agree that to provide this service, your funds will be moved to a holding account for 2 business days, from the time the transaction is processed, prior to being released to your destination account, and that you funds will be processed at your destination account by the 3rd business day and available by the 4th business day following the process date."

For transactions initiated after 3PM, add another day to the above formula.
Go here for the Full disclosure

The grass isn't always greener on the other side

Everbanks wording makes it appear worse. I have bth hsbc and everbank. for both. If I submit on tuesday before 3pm, I lose 2 days interest. the difference is that on hsbc you see it on friday with a friday date, with everbank you see it on saturday with a friday date. They are actually the almost the same, I believe the cutoff time is a little better at hsbc. The fact that with both you lose 2 days interest is a problem. at least with everbank if i need money from that account, i can write a check and have a couple of days interest while the check clears.

jennatx said: nymgiants said:
Everbanks wording makes it appear worse. I have bth hsbc and everbank. for both. If I submit on tuesday before 3pm, I lose 2 days interest. the difference is that on hsbc you see it on friday with a friday date, with everbank you see it on saturday with a friday date. They are actually the almost the same, I believe the cutoff time is a little better at hsbc. The fact that with both you lose 2 days interest is a problem. at least with everbank if i need money from that account, i can write a check and have a couple of days interest while the check clears.

Does the Everbank hold apply to funds that are pushed there from another bank, not using Everbank's system? For example pushing from E-Trade to anywhere else like HSBC I'd normally only lose 1 day interest (on a Mon-Thur) for the e-trade processing time, and earn at HSBC the day it arrives. Will this increase to 2 or 3 days pushing from E-trade to Everbank?

The linked terms refer to using Everbank's system but they also say "transaction request(s) originating from non-EverBank accounts".

Haven't tried that as I have hsbc and it would be the same wither way

jennatx said: Does the Everbank hold apply to funds that are pushed there from another bank, not using Everbank's system? For example pushing from E-Trade to anywhere else like HSBC I'd normally only lose 1 day interest (on a Mon-Thur) for the e-trade processing time, and earn at HSBC the day it arrives. Will this increase to 2 or 3 days pushing from E-trade to Everbank?

The linked terms refer to using Everbank's system but they also say "transaction request(s) originating from non-EverBank accounts".

It does not apply. Pushed funds show up on the following day. For example, push from E-Trade on 2/16 shows up on Everbank on 2/17. I don't know when it starts to accrue intrest, but I would assume it would be the day the transaction is received.

I just opened this account and so far I am satisfied. The process went smoothly, although all of the various mailings are trickling in slowly. The only annoyance I've encountered so far is that, when you link to an external account, they withdraw the 2 small deposits made to your external account. This is rare, and while it's only a matter of cents, if you have linked a savings account, those 2 tiny withdrawals count toward your 6-per-month limit. It also makes EB look kind of cheap.