EverBank Review 2026: Pros, Cons and Alternatives

everbank is a well-known online banking brand that offers competitive savings account rates.

When it comes to having a good banking experience, balance usually comes down to higher APYs and lower fees. For anyone wanting a brick-and-mortar banking experience, this can be a nearly impossible quest.

But EverBank, formerly TIAA Bank, offers competitive rates, low fees, and access to physical branches in Florida.

We’ll take a closer look at what EverBank has to offer so you can decide if it’s right for your situation.

EverBank, formerly known as TIAA Bank, has assets of $45.5 billion as of Dec. 31, 2025. The bank is headquartered in Jacksonville, Florida and has branches around the Sunshine State. But the bank works with anyone across the country through its strong online platform.

EverBank offers a wide range of financial products, including individual investment accounts, business deposit accounts, and commercial funding solutions. But for the purposes of this review, I will focus on the personal deposit products available through EverBank.

EverBank’s Performance Checking Account is an interest-bearing option. At the time of writing, you can enjoy 0.25% APY for all balances.

There is no monthly maintenance fee on this account. You can transfer your funds with Zelle, online bill pay, internal transfers, external transfers, and checks.

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EverBank offers a performance savings account in partnership with Raisin, which comes with 4.10% APY on all balances, which matches some of the best high-yield savings accounts.

The account does not require a minimum opening balance and you will not have to pay any monthly maintenance fees. Interest is added to this account daily, meaning you’ll be able to make the most of your savings.

If you’re opening a money market account with EverBank for the first time, you can take advantage of the 3.80% APY. This APY is locked in for the first year of your account, and applies to balances up to $250,000.

After a year, the rate changes to a variable one that depends on your balance. At the time of writing, here are the rates as per your balance:

• For balances from $0 to $9,999.99, the APY is 2.02%.
• For balances $10,000 to $29,999.99, the APY is 3.80%.
• For balances $25,000 to $49,999.99, the APY is 3.80%.
• For balances $50,000 to $99,999.99, the APY is 3.80%.
• For balances of $100,000 and above, the APY is 3.80%.

There is no minimum deposit required for this account and you will not have to pay any monthly maintenance fees. Through a money market account, you can access your funds through debit cards and checks.

EverBank offers CDs for terms ranging from three months to five years. You’ll need $1,000 to open a CD, which will automatically renew at maturity. But you will get a 20-day alert to remind you that your CD is about to mature.

Overall, these CDs have relatively attractive APYs attached.

The fees you receive with EverBank vary depending on the accounts you open and the activities you perform. For example, withdrawing your funds from a CD before the maturity date will be charged an early withdrawal penalty. Or if you need to stop a check, there is a $25 stop payment fee.

But overall, the fees associated with EverBank accounts are relatively low. There are no monthly account fees on the accounts listed here and no fees at EverBank ATMs. You can also get unlimited ATM fee reimbursements if you have more than $5,000 in your checking account, and up to $15 per month ATM reimbursement if your balance is less than $5,000.

However, one important note is the transfer limit. EverBank recently announced a lower $10,000 daily external transfer limit, up to a maximum of $30,000 monthly.

EverBank isn’t the only banking opportunity. Here’s how it stacks up.

associate bank is a completely online bank that offers a checking account with a 0.25% APY. It also offers a savings account with a 3.30% APY. Both rates are lower than those found at EverBank. But Ally Bank is completely online and has a good reputation.

CIT Bank There’s an online-only option, complete with an interest-bearing checking account that offers 0.25% APY on balances above $25,000. It also offers a savings account with a 3.75% APY. Both are lower than EverBank’s offering. But CIT Bank offers no-penalty CDs, which may be a good option for savers who want more flexibility.

If you want to open an account with EverBank, you can do so online or in person at a physical branch. No matter your location, be prepared to provide some details like your Social Security number, funding account information, physical address, and more.

It should only take a few minutes to set up your account.

EverBank is FDIC-insured, which means your funds are protected against loss up to $250,000 per person. Additionally, the bank takes other steps to secure your funds, such as strong encryption, two-factor authentication, and account number masking.

If you need to contact EverBank, you can call 1-888-882-3837. Additionally, you can visit a physical branch in Florida for further assistance. These branches are open from Monday to Friday during regular banking hours.

Since the bank is relatively new, there are limited customer reviews available. For example, the bank only has two reviews on Trustpilot, a 4-star and 2-star review. But there isn’t enough information to make a definitive decision about what to expect when working with EverBank.

The accounts offered by EverBank come with a relatively high APY. Although it’s a good idea to shop around right before opening your account, the rates you’ll find at EverBank right now are almost at the top of the pack.

It’s surprising that the bank offers such good rates with its collection of physical branches in Florida. But if you want higher rates and physical branches in the Sunshine State, EverBank may be the way to go.