Attracted by Everbank's introductory rates I opened a checking and savings account.

Unfortionately, Everbank's post introductory rates are horrible, so I tried to transfer my savings to checking and write a check for the total, thereby closing the account. The Everbank online system would not let me effect the transfer and customer service would not do so on the telephone. The CSR told me that it would take several days to "link" the accounts so I could do the transfer.

I then inquired about doing a bank to bank transfer which Everbank declined to do.

I was told that the only way to close an account was to send a snail mail letter closing the account and requesting a "bank check" for the proceeds.

After several weeks, I received my proceeds and when I went to deposit the check at another institution with a higher rate, I was informed that Everbank's check would take up to seven days to clear.

Everbank snares you at the front end, sets up obstacles to withdraw funds in order to hold your money, and kites you at the back end.

Often commented on in the everbank threads. 0 account first, then close. I do that with all my accounts, not just with everbank.

6.01% promo rate at everbank

mhesidence said:Often commented on in the everbank threads. 0 account first, then close. I do that with all my accounts, not just with everbank.

6.01% promo rate at everbank
What do you do when they say "but the fee to close the account is $30.00. Either pay up or we put something in your credit report!"?

I looked at Everbank for some of their international rates. The conclusion I reached from reading the archives is that they are very slow moving money in and out through usual channels. Wire transfers may cost you ~$20 each, but it's probably worth it for the same day speed and lack of hassles/delays.

Does anyone consider to move money from fnbo to everbank from the promo?

you missed the point, dude. Where is the best place to move after the fnbo promo ends?

SmallBizMan said:I am going to TRY and triple-dip the Everbank 6% promotion.
( terms say "This introductory APY offer is available to first-time account holders only and is limited to one account per household".)

1st: I had a 6% EB Yield-Pledge MM account ( max $50K ) for 3 mos. back in Feb-May ; closed.
( note: I mistakenly opended MM accnt rather than FN-Ckg; did not read $50k max limit)

2nd: Wife had 6% FreeNet Checking for 3 mos Jun-Aug : recently closed.

3rd: today, just sent (via USPS PriorityMail) my app & init. dep. for my 1st 6% FreeNet Checking.

Hopefully, the account will be funded before 9/28, so as to confirm the 6% rate on Sept. statement; otherwise, account to be immediately closed.

Anybody else had any success doing this with EB?You are going to get their standard rate because you previously had an account with them.

I sent in a letter to close my account last month. Never received the $50. Called today, I was told none of my reasons (rate after promotion is not competitive, unable to change address online, take too long to make an outgoing transfer) were qualified for the dissatisfaction terms. Thus, they will not give me $50. Is it for any reasons that I believe the service is not satisfactory?

DavidScubadiver said:SmallBizMan said:I am going to TRY and triple-dip the Everbank 6% promotion.
( terms say "This introductory APY offer is available to first-time account holders only and is limited to one account per household".)

1st: I had a 6% EB Yield-Pledge MM account ( max $50K ) for 3 mos. back in Feb-May ; closed.
( note: I mistakenly opended MM accnt rather than FN-Ckg; did not read $50k max limit)

2nd: Wife had 6% FreeNet Checking for 3 mos Jun-Aug : recently closed.

3rd: today, just sent (via USPS PriorityMail) my app & init. dep. for my 1st 6% FreeNet Checking.

Hopefully, the account will be funded before 9/28, so as to confirm the 6% rate on Sept. statement; otherwise, account to be immediately closed.

Anybody else had any success doing this with EB?You are going to get their standard rate because you previously had an account with them.

update: EB received my opening app & init. dep. check on 9/27/07, though, account was not opened until 10/2/07. Because of their delay, I will not see a statement until next month. I did call EB-csr and he confirmed that the rate on this new account is 6.01% apy. YMMV

I can't help but give my $0.01 here... (no pun intended)

Everbank was fantastic - easy opening account, easy closing account (zero out and then close, as mentioned earlier), and they also sent me $50 for using a high intro APY and closing the account!