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EverBank FreeNet Checking AccountRates and Account Features Last Update: November 3, 2008
The FreeNet Checking Account from EverBank is perhaps most famous for its high introductory yield. At one point, EverBank had offered a 3-Month introductory rate of 6.01% annual percentage yield (apy), but the rate has come down a bit since then.
Account Features
Account Review
As of November 3, 2008, new FreeNet Checking customers will receive a 4.01% apy intro yield. The yield will apply to the first $100,000 on deposit for the first three months after account opening.
After the introductory period ends, the rate earned is determined by a rate tier where higher balances earn a higher rate.
As of September 19, 2008, new accounts will earn a special higher rate for the first year after account opening.
Besides the great intro yield, it's also worthwhile to note that the FreeNet Checking Account offers free ATM use anywhere. Any fees that another bank charges for using their ATM will be reimbursed by Everbank up to $6 per month.
The FreeNet Checking Account also offers optional Online Bill Pay. Online Bill Pay has no fee when customers maintain a minimum average monthly balance of at least $1,500. Otherwise, a $4.95 monthly fee is assessed.
The minimum deposit to open EverBank's FreeNet Checking Account is $1,500. There is no minimum balance requirement to earn a yield, and there is no monthly fee.
One last thing to note - EverBank has a $50 satisfaction guarantee. Customers who try the FreeNet Checking account and are unsatisfied will get a $50 check. To qualify for the $50 satisfaction guarantee, customers must have used the Online Bill Pay feature at least three times and the account must have been closed within 30 days of the three-month anniversary.
More Accounts from EverBank
Yield Pledge Money Market Account
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