Anyone have experience using Everbank?

[cashflow]

Like many here we are looking into diversifying our investments and minimizing our dollar decline exposure. I believe some of you may have used or are using Everbank. Just shopping around and thought some of their foreign currency CD’s they offer were interesting…. Just curious as to what your experience with them has been? Why to choose to invest with them vs. others?

[4plexowner]

asked for a check by mail to return my CD funds after maturity – check didn’t arrive after 10 days or so – called and asked for new check – told to obtain surety bond at a cost of approx $300 or wait 90 days before new check would be issued – got chastised for requesting a check by mail vs wire transfer

threatened to write e-mails to all the analysts recommending Everbank explaining what had happened to me – new check mailed next day

never again

[4plexowner]

asked for a check by mail to return my CD funds after maturity – check didn’t arrive after 10 days or so – called and asked for new check – told to obtain surety bond at a cost of approx $300 or wait 90 days before new check would be issued – got chastised for requesting a check by mail vs wire transfer

threatened to write e-mails to all the analysts recommending Everbank explaining what had happened to me – new check mailed next day

never again

[4plexowner]

asked for a check by mail to return my CD funds after maturity – check didn’t arrive after 10 days or so – called and asked for new check – told to obtain surety bond at a cost of approx $300 or wait 90 days before new check would be issued – got chastised for requesting a check by mail vs wire transfer

threatened to write e-mails to all the analysts recommending Everbank explaining what had happened to me – new check mailed next day

never again

[dny]

I’ve used them for years as they pay a solid interest rate 3.25%, refund ATM fees, free bill pay, low min ($1500 monthly avg.), and have excellent customer service (no wait and intelligent people on the other end).

I haven’t looked around at the competition, but I have not had any issues with them. I keep my balance near the minimum or higher if I have bills to pay like rent or CC. You can easily link that account to high yield MMA’s that pay 5.4% and higher.

While I think highly of their basic checking, I haven’t used their CD’s or other financial products they offer so I can’t comment on those.

[dny]

I’ve used them for years as they pay a solid interest rate 3.25%, refund ATM fees, free bill pay, low min ($1500 monthly avg.), and have excellent customer service (no wait and intelligent people on the other end).

I haven’t looked around at the competition, but I have not had any issues with them. I keep my balance near the minimum or higher if I have bills to pay like rent or CC. You can easily link that account to high yield MMA’s that pay 5.4% and higher.

While I think highly of their basic checking, I haven’t used their CD’s or other financial products they offer so I can’t comment on those.

[dny]

I’ve used them for years as they pay a solid interest rate 3.25%, refund ATM fees, free bill pay, low min ($1500 monthly avg.), and have excellent customer service (no wait and intelligent people on the other end).

I haven’t looked around at the competition, but I have not had any issues with them. I keep my balance near the minimum or higher if I have bills to pay like rent or CC. You can easily link that account to high yield MMA’s that pay 5.4% and higher.

While I think highly of their basic checking, I haven’t used their CD’s or other financial products they offer so I can’t comment on those.

[patientrenter]

cashflow,

I started to use Everbank about 2 years ago when I inherited some money in Euros that I didn’t want to convert into a declining dollar. Starting about a year ago, I use the checking account to pay my bills.

It’s been pretty trouble-free for me. They’ve handled international wires, automatic debits and all, with no problems I can recall.

Their rates on foreign currency are low. I like the ability to send wires easily to my relatives in Europe, but if I had a larger amount at stake I’d hunt for another alternative. There are (Rydex, Barclays IPath?) funds that pay better yields on larger amounts. I think the Barclays is an exchange-traded note that they claim pays capital gains instead of interest, so you pay less in taxes.

I am considering getting some Yen exposure by buying Yen/USD futures from the CME. Seems pretty efficient, but I’ve been too lazy to research the details and execute, so I don’t know all the pitfalls.

Patient renter in OC

[patientrenter]

cashflow,

I started to use Everbank about 2 years ago when I inherited some money in Euros that I didn’t want to convert into a declining dollar. Starting about a year ago, I use the checking account to pay my bills.

It’s been pretty trouble-free for me. They’ve handled international wires, automatic debits and all, with no problems I can recall.

Their rates on foreign currency are low. I like the ability to send wires easily to my relatives in Europe, but if I had a larger amount at stake I’d hunt for another alternative. There are (Rydex, Barclays IPath?) funds that pay better yields on larger amounts. I think the Barclays is an exchange-traded note that they claim pays capital gains instead of interest, so you pay less in taxes.

I am considering getting some Yen exposure by buying Yen/USD futures from the CME. Seems pretty efficient, but I’ve been too lazy to research the details and execute, so I don’t know all the pitfalls.

Patient renter in OC

[patientrenter]

cashflow,

I started to use Everbank about 2 years ago when I inherited some money in Euros that I didn’t want to convert into a declining dollar. Starting about a year ago, I use the checking account to pay my bills.

It’s been pretty trouble-free for me. They’ve handled international wires, automatic debits and all, with no problems I can recall.

Their rates on foreign currency are low. I like the ability to send wires easily to my relatives in Europe, but if I had a larger amount at stake I’d hunt for another alternative. There are (Rydex, Barclays IPath?) funds that pay better yields on larger amounts. I think the Barclays is an exchange-traded note that they claim pays capital gains instead of interest, so you pay less in taxes.

I am considering getting some Yen exposure by buying Yen/USD futures from the CME. Seems pretty efficient, but I’ve been too lazy to research the details and execute, so I don’t know all the pitfalls.

Patient renter in OC

[an]

If you’re thinking about diversifying to other currency, another option you have is through E-trade. They now allow you to convert to 5-6 different currencies. On the top of my head, it’s Canadian, Hong Kong, Japan, France, Germany, and I think England. You can then use that currency to buy that nation’s stock. I’m sure if you leave it in there w/out investing it, it’ll earn you interest as well just like regular saving account.

[an]

If you’re thinking about diversifying to other currency, another option you have is through E-trade. They now allow you to convert to 5-6 different currencies. On the top of my head, it’s Canadian, Hong Kong, Japan, France, Germany, and I think England. You can then use that currency to buy that nation’s stock. I’m sure if you leave it in there w/out investing it, it’ll earn you interest as well just like regular saving account.

[an]

If you’re thinking about diversifying to other currency, another option you have is through E-trade. They now allow you to convert to 5-6 different currencies. On the top of my head, it’s Canadian, Hong Kong, Japan, France, Germany, and I think England. You can then use that currency to buy that nation’s stock. I’m sure if you leave it in there w/out investing it, it’ll earn you interest as well just like regular saving account.

[New_Renter]

I’ve had an Everbank WorldCurrency CD account for years and highly recommned it. Specifically been invested in the Australian Dollar 3-month CD with automatic rollover feature which is up about 36% in a little less than 2 years. With the declining US Dollar have been able to take advantage of a double whammy of appreciating Aussie Dollar plus a sweet 4.97% rate on the CD itself. I highly recommend the WorldCurrency CD for diversification and a hedge against the declining USD.

[New_Renter]

I’ve had an Everbank WorldCurrency CD account for years and highly recommned it. Specifically been invested in the Australian Dollar 3-month CD with automatic rollover feature which is up about 36% in a little less than 2 years. With the declining US Dollar have been able to take advantage of a double whammy of appreciating Aussie Dollar plus a sweet 4.97% rate on the CD itself. I highly recommend the WorldCurrency CD for diversification and a hedge against the declining USD.

[Author]

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