EverBankReviews of everbank.com

Opened a high yeild savings account with a published rate of 3.9. The account dropped down to 3.4 after just a month WHILE INTEREST RATES WERE GOING UP. They said they would re-evaluate now that their published rate is 4.2!! We are still earning only 3.4. There has been no change.Total misrepresentation. If it wasnt a joint account with three holders would have been out of there already.

A simple wire transfer request was put on hold "for additional information" with a request to call the customer service number. Of course that number routes to an endless series of hold prompts, unassigned voice mailboxes and no callbacks no matter how many messages I leave. Closing my accounts and moving to a real bank.

I’m so upset right now, trying to add beneficiaries to my account and it’s like rocket science for no reason. Starting to hate this bank! It’s my freaking money and it’s the longest process to get it.

I had used Everbank once a couple years ago and was opening a new account as I wanted the higher interest rate. I discovered when I went to fund it via their Plaid interface that their privacy policy says they share my personal (banking) info with OTHER financial companies for the purpose of marketing and that I may NOT limit this. As I compared to another bank, the other bank says they do NOT share the info. I'd like to believe this is a mistake but it's also on their dedicated privacy link so I am staying AWAY!

TLDR version PROS- cite is easy to navigate (aside from finding non-existent terms) CONS -Imposes daily and monthly limits on getting access to YOUR money -Does NOT disclose anywhere WHAT these limits are which allows them to move that bar at any time and cause financial chaos for someone trying to get at their money -Has literal banking hours, no customer service when it's needed most including taking off holidays like Presidents Day I found the bank easy to use once I got the account set up but Everbank, like many others, lack transparency at very important things like DAILY and MONTHLY LIMITS they place upon you for accessing your own money. I had a situation where I was going to use my funds to do a large investment purchase, and planned to transfer my money a day before but found out my money wouldn't transfer, without a reason WHY and worse, customer service was off for a bank holiday! I figured it had to do with possibly a limit they imposed... turns out I was right. No documentation of transparency on either their external and internal websites--all documents available purposely fail to clearly define limits and expectations, but they apparently arbitrarily mess with these daily and monthly limits without disclosing to their customers which is SHADY. That panic was enough for me. I would never keep a large sum with them again after that.

There are a lot of positive features to Everbank accounts. However, Consumers should be aware that they advertise enticing interest rates to new customers to get you in the door but after you are an established customer, they reduce the interest rate on your savings account while continuing to entice new customers with a higher rate. I thought this was called “bait and switch” and was illegal. Established customers are not valued as highly as new customers at Everbank.

My wife did not receive her 1099 for 2025 in the mail. She finally phoned the bank, provided lots of documentation, and was told that the 1099 would be emailed in encrypted form. After spending time activating and printing the 1099, she saw that the 1099 was not for her account but for one of mine. I previously have dealt with quite ignorant Everbank representatives and, as a result, began removing my funds. Everbank’s slightly higher interest rates are more than offset by the frustration and time spent in dealing with its dysfunctional representatives.

I have sent two wire transfers from my EverBank savings account, months apart. The first was stopped, flagged for "my safety", where I had to spend a half hour arguing with an Everbank employee, forced to explain why I want to send money to a friend of mine for 40 years. The second was stopped, delayed, requiring me to verify the exact information I entered online on their website. Total PIA.