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March 1st, 2013 at 11:06 pm

I'm looking for higher interest rates. We have FNBO Direct for our money market account, which currently pays 0.85%. I want more!

I did some online searching and found Everbank, which has a 6 month promotion of 1.25%, combine that with their ongoing rate, it works out to 1.01% APR for the first year. That's better than our current rate.

I just don't know if I want to move it. I'm not familiar with the bank. It feels like a hassle, but I know it is a matter of setting up the account and making the transfer. With more money comes more responsibility, right?

I do want the money to grow, so this would be one step in getting a little more cash flowing in there. Too bad interest rates are so very very low! Ick.

Has anybody used Everbank?

My previous post is about some snowflakes.

2 Responses to “Everbank”

  1. Beawealthywarrior Says:

    No experience with Everbank but I have used I know the name sounds funny but it's a legitimate bank that's FDIC insured. Current rate is 1% and I like it becuase it allows you to set-up different goal and fund it how you choose to. It's similar to ING but instead of opening seperate sub-accounts with ING, you only have 1 account with SmartyPig but as many goals as you like. It's a savings account that's linked to an external account. Also if you cash your goals in for gift cards, you get a higher bonus rate as well.

    The main reason I closed my account was becuase I was chasing higher rates at the time. I never experienced any problems whatsoever. The more I tell you about them, I think I'm going to reactivate my account and close ING Smile

  2. creditcardfree Says:

    Thanks, BAWW, I have heard of SmartyPig. That bank didn't come up in my search, so I appreciate the information.

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