“As far as Everbank, someone else on here had a bad experience with them. JWM, have you had any issues with them?”

Only that they were slow to get the accounts opened and sometimes a little surly on the phone…but that was also right before the .50 bps cut by Bernanke. Their exchange rate is a bit high, but it still beats leaving the bulk in USD. I haven’t seen an actual hit of 1% though..it was south of .8%.

As far as taxes go, I don’t care. The money I put there for emergency use and also for regular banking activities like bill pay. If the money is sitting in a non-taxable account then I most likely couldn’t touch it without incurring worse penalties anyway.