hokie94 said:I don't know when it starts to accrue intrest, but I would assume it would be the day the transaction is received.Two days after. I was a little miffed when I saw my first statement and couldn't figure out how they'd calculated the interest (looked like they were applying the standard rate of 3.01%). Took me a few calls and much wasted time to get to the bottom of it.

Yep, that's definitely one reason to be dissatisfied with the account and decide to close it after, say, three months. Yup. What a shame.

jennatx said:An Everbank CSR told me that ACH deposits pushed from another bank will count as cash deposits, and earn interest on the date they arrive, but who knows as I can't even get my account to link from Etrade as the trial deposits aren't showing up. They've probably put them on hold. I'll see if I can get HSBC to link.I had the same trouble. Tried 3 times from CapitalOne without getting any activity on the Everbank side. Finally called a CSR, asked them why their system wasn't able to handle the small deposits and tried one last time -- went through perfectly and was able to finally link up that account. Haven't had any troubles since.

Minimum deposit is $1,500.

based out of Utah. go everbank~

I don't know if you guys know this, but it's a CHECKING ACCOUNT
You cannot compare it to EmigrantDirect, hsbcdirect or ING as it's a checking account. It's 5.01% for the first 3 months and then 3.01% after that.

You have to have 1,500 dollars to use their paybills feature for free. You can use any ATM in the world and they won't charge and if that ATM charges you they will reimbersue up to 9 dollars per month. You have to send it via postage envelope that they provide.
They have a few partners that you can use certain ATM at no charge from both ends and you can find one by going to their web page.

I've been using everbank for months now and I'm happy with them. Everbank and Bank of Internet are the only two "CHECKING" accounts that offer intrest this high. Their ACH transfers are slow. I mean 5 business days, so if you include the weekends it could take up to a week.

I've transfered funds in and out of everbank with all different types of accounts, savings, checking..etc

Their main page you can link your credit card, 401k, Roth, or any other investments you want to watch as long as they have it in their system to watch. Transfering is easy and their pay system is easy.

Just want to say again it's a checking account. I've seen post after post about it being compared to EmigrantDirect. The difference between 4.25% at emigrant direc and 5.01% for only 3 months is not worth the money as if you do the math on 10k it's probably less than 50 dollars if even that. So if you want a checking account that you don't need a local bank, they are great.

I have them tied with WaMu, becuase Wamu is local and has free checking with no miniums. If I need money in my local Bank by tomorow, I jsut wrote a check from everbank and cash it at the local bank here, so it's not a problem.

Buttom line is I have no complains about everbank so far, except their ACH is kind of slow to be honest with you.

cheapbone said:I've been using everbank for months now and I'm happy with them. Everbank and Bank of Internet are the only two "CHECKING" accounts that offer intrest this high.As mhesidence mentioned and others will tell you, go to Presidential. They're offering a significantly higher rate for checking as long as you receive a regular direct deposit.

Their main page you can link your credit card, 401k, Roth, or any other investments you want to watch as long as they have it in their system to watch.I'd go with Yodlee's product anyday. EverBank's version feels like a Yodlee v2.x -- a bit more than just basic functionality, but with a decidedly more awkward and less useable interface than Yodlee's product for account aggregation.

The difference between 4.25% at emigrant direc and 5.01% for only 3 months is not worth the money as if you do the math on 10k it's probably less than 50 dollars if even that.Even with $100K, it's only a $187.50 difference (+ the $50 cancellation bonus) but I'll take it.

I actually did completely forget about presidental online banking. I was intrested in using them at one time, but when I saw them before it looked like they had a promo rate like ING and HSBCdirect, but looks like it's not a promo rate right now.

The other reason is the ATM's. They don't reimberse you if another ATM charges you. everbank gives you back up to 9 dollars a month if another ATM charges you and they never charge you.
One reason for having a checking account for me is to pull out cash, which doesn't look appealing with presidental. USAA even gives you up to like 6 dollars back.

I'm happy with everbank as they say they will stay on the top 5% and it's not like my savings account, to change checking is a pain in the butt when you have everything tied to it. A 1% difference is a lot to go for it honestly, but it's too much of a hassle to keep changing to chase rates, unless maybe you do it once a year. Savings is much easier.

I'm not sure if anybody is using presidetnal, but do they allow you to hook up ACH transfers with other institutions? I have heard that BOI doesn't allow you to do this from another person I know who uses it.

cheapbone said:I actually did completely forget about presidental online banking. I was intrested in using them at one time, but when I saw them before it looked like they had a promo rate like ING and HSBCdirect, but looks like it's not a promo rate right now.

The other reason is the ATM's. They don't reimberse you if another ATM charges you. everbank gives you back up to 9 dollars a month if another ATM charges you and they never charge you.
One reason for having a checking account for me is to pull out cash, which doesn't look appealing with presidental. USAA even gives you up to like 6 dollars back.

I'm happy with everbank as they say they will stay on the top 5% and it's not like my savings account, to change checking is a pain in the butt when you have everything tied to it. A 1% difference is a lot to go for it honestly, but it's too much of a hassle to keep changing to chase rates, unless maybe you do it once a year. Savings is much easier.

I'm not sure if anybody is using presidetnal, but do they allow you to hook up ACH transfers with other institutions? I have heard that BOI doesn't allow you to do this from another person I know who uses it.

I have set up with hsbc ach transfers to and from Presidential

nymgiants I have heard that the ACH and setup with HSBCdirect is really good. I don't have an account with them, because I don't like cashing small percentages, but I'll see where they stand after their promtion in the middle of April 15th and compared them to emigrantdiect. I can't come down on EmigrantDirect, even though their faqs state that they can hold your money for 60 days if they want is the only thing I've seen bad about emigrantdiect. Actually for secuity.....lol not sure if it's really security, but they only allow you to link two checking accounts with them. The second account also has to be sent in via check and it can't be a temp check, but a real check from washington mutual. I'm not sure if it's security or that they don't want you to pull out money and go with anohter higher paying fund.

mbaker4096:
"If you had more money involved, the difference would be worth chasing." I think anything but an emergency fund is a waste of money in a low intrest rate saving and it's not worth chasing for me. You can make at least 2% or 3% more and pay lower taxes on the earnings. I know some people are scared if an investment was negative 1% one year, but for the past 20 years it's had an average return of 7%. I'd rather take the risk and pay less taxes on it personally.