Everbank Online Savings Account
Everbank offers a decent rate, especially when considering where interest rates are sitting at this moment. With a basic rate set at 0.61 percent, one can enjoy near-market rates, and rates that are higher than more established players in the industry. But, this isn't where Everbank shines. Instead, depending on how much you deposit and what type of savings account you have, it's possible to earn a lot more and smoke the competition. While the bank offers competitive rates, it also has amazing customer service, top-notch security, an available app, and plenty of other ways to get higher interest rates.
Good Customer Service When getting started with a savings account, especially when doing it online, a lot of people will have trouble and experience frustration. This isn't the case with Everbank as a new client can call the 1-800 number or apply on the website via the basic and simple, yet thorough, application. Once approved, a client will receive the information about his or her account in the mail. Then, it will be easy to get started as it's easy to enroll in online banking from the front page. From here, one can make changes to their account or sign up for new accounts. At any step of the way, it's easy to get help from a customer service associate, though the process is straightforward enough that most people, tech savvy or not, will have an easy time and won't require assistance.
Once you sign up and deposit some cash, you can easily access the secure website 24 hours a day, 7 days a week, and if issues arise, it's easy to call the toll-free number on the front page. Everbank stands out and will answer your question on Twitter as the company has a link to its Twitter feed and email address, right on the contact us page. As mentioned, you probably won't need much in the way of help, but it's nice to have options. If you prefer, you can use your iPhone or Android device and download the Everbank Mobile application, which is highly rated both on the Google Play and iTunes app stores.
With Everbank Mobile, a customer can deposit a check, view his or her balance and make transfers between accounts. All you must have is a smartphone with a camera so that you can take a picture of the check. With the smartphone app, a customer can save time and money as it is like having a bank in your pocket. That means, whether you are in an airport overseas or in your living room, you can access all that Everbank offers. Everbank when out of its way to make a user-friendly app as a lot of its clients are not necessarily tech addicts, and it shows as the app is both intuitive and user-friendly.
One thing to note: Federal regulations limit the number of telephone, check and electronic transactions one can make with a money market or savings account, and that limit is six. This is true for any US-based bank. However, since you can time your transactions, you won't run into problems using Everbank or the provided app.
It can be scary having a lot of money in a savings account, especially when the transactions are done through a smartphone or computer. But, Everbank does not mess around, and from the moment you sign up with an account, you won't have to worry about fraud or security issues. For starters, when you sign up for an account, you receive information in the mail that you can later verify online. That way, nobody else can get into your Everbank account and cause any damage.
Obviously the site has multiple levels of security including SSL. Since there are multiple steps to log in, you can rest easy as only the best hackers will stand a chance. Coupled with security questions and more roadblocks if someone tries to change a password, mailing information or linked bank account, and you can use Everbank with almost no worry. The app for both the iPhone and Android uses the latest security measures and is only as weak as the network one is using it on. All in all, if you have security fears, they will be quelled if you use Everbank.
Opportunities to get Higher Rates
The base rate of 0.61 percent is not extraordinarily high, but there are other types of accounts that can help you bolster your rate greatly.Yes, while the yield pledge gives you a rate of 0.61 percent, you can open a checking account with a bonus interest rate of 1.60 percent for the first six months. There are also very safe money market accounts that pay 1.60 percent. And, don't worry, once the government raises interest rates, they will rise at Everbank too.
When you want a savings account, you may never want to step inside your bank. Others will want to see the bank in person and talk to an employee. Luckily, if you have either style, you will not struggle as there are plenty of locations all over the United States. Coupled with a toll-free number and lots of online access, and you will never be far from your money, and since toll-free access is available 24/7, you will never have to worry.
Verdict - Good
You should seriously consider Everbank if you are looking for a safe, secure and easy to use bank, all with plenty of technology to help you keep track of your money. With available bonuses and other products, you can get the most out of your money in this low interest rate environment. With great customer service available around the clock, you will know your money is safe. It should be noted, if you are only in it for a high interest rate, you can probably find one elsewhere. But, with other products and bonuses, along with a good name you can trust, and most people will be very happy with Everbank.