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EverBank

EverBank

Everbank is an Internet bank with headquarters and a brick and mortar presence in Florida. The bank dates back to the 1960’s and is now one of the top banks in the United States. There are a variety of banking services offered to consumers and businesses.

Banking

The EverBank Direct banking division offers both consumer direct and business banking including comprehensive online banking, loans, high yield deposit accounts, mortgages and global opportunities. If you live in Florida EverBank still offers community banking at branch locations throughout the state. The international banking division, the EverBank World Markets branch offers foreign currency CDs, deposit accounts and non-FDIC insured precious metals accounts under the WorldCurrency banner. The banking service offers free checking, online bill pay, and online statements with a minimum deposit of $1,500 and an average balance of $5,000. If you fall below the required balance there is a $5.00 monthly fee. There is live customer service help available for any banking customer. Customers do regularly complain about slow deposits but love the higher than average interest rates with online checking accounts.

Investment

EverBank.com operates both a brokerage service and a wealth management service. The EverTrade Direct Brokerage is a wholly owned subsidiary of EverBank. The brokerage offers a suite of investment services targeted at both personal and business customers. Services include both U.S. and worldwide online trading on all major U.S. exchanges and OTC markets, mutual funds, equities, bonds, and Exchange Traded Funds (EFTs). As an EverTrade client you can use the online trading tools yourself or you can work with a broker. The EverBank Wealth Management service provides wealth management advice on a global scale for individual investors.

Mortgage lender

The Everhome Mortgage division is a Freddie Mac Tier One servicer providing mortgage loan servicing and sub-servicing on over 435,000 loans. The division has become known for its expertise in dealing with complex loans and in providing outsourcing mortgage services for other businesses.

Lending

The Wholesale Lending division of EverBank is targeted at mortgage brokers across the U.S. offering a wide range of mortgage products. The mortgage offerings which include traditional mortgages to jumbo loans help brokers achieve an efficient lending process all the way from underwriting to closing.

Business financing

The EverBank Commercial Finance subsidiary of EverBank is available to provide both credit and non credit products including loans to businesses worldwide. Transactions run from $10 million up to $30 million.

Foreign currency accounts

Everbank offers three different world currency accounts to choose from and twenty of the world’s major currencies. With this service you can invest in CD’s denominated in foreign currencies.

FDIC Insurance

Funds in EverBank.com noninterest bearing transaction accounts including traditional checking and demand deposit accounts are all insured in full by the Federal Deposit Insurance Corp through December 31, 2012. This is a temporary unlimited coverage which is in addition to the FDIC’s general deposit insurance. See also Online Banking and Is Online Banking Right for You?

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