EverBank Performance Money Market Account Review

4.5

GBR RATING

GOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Quick Take: EverBank offers checking, savings and money market accounts for U.S. residents. The customer service, depth and breadth of products, and high interest rates earned it an award as one of GOBankingRates’ best online banks of 2023.

• Money Market Account Interest Rate: 4.7
• Fees: 5
• Mobile Experience: 4.8
• Customer Service: 4.9

EverBank Overview

EverBank is an online bank offers both high yield savings and money market accounts, CDs, a no-fee, interest-earning checking account and robust mobile banking tools. Read GoBankingRates’ full EverBank review to learn more about the great checking and savings products. Right now, an APY of for balances $100,000 and up, or for balances $50,000 to under $100,000, for money market customers sets EverBank apart from competitors.

EverBank Performance^SM Money Market Key Features

EverBank Performance Money Market account has a lot going for it, earning it an average rating of 4.85 stars from GOBankingRates.

Interest Rates

EverBank Performance Money Market account interest rates are some of the highest you will find at any traditional or online bank.

Customers will enjoy an APY of for balances $100,000 and up, or for balances $50,000 to under $100,000.

Pros

• Mobile check deposit
• ATM-fee reimbursement
• No monthly fee
• No minimum opening deposit
• No minimum account balance
• Top-rated mobile app

Cons

• Account balances under $100,000 earn a lower APY
• Limited branch locations

EverBank Performance^SM Money Market Account Fees

The EverBank Performance Money Market account has no monthly account fees and requires no minimum opening deposit for an account. You do not need to maintain a minimum balance to earn interest, although the more you save, the higher APY you can earn.

EverBank does not charge ATM fees at any of the 80,000+ AllPoint or MoneyPass ATMs nationwide. The bank also reimburses up to $15 in ATM fees per month for out-of-network ATM use. If you maintain a minimum average daily balance of $5,000, EverBank will reimburse unlimited ATM fees from out-of-network ATMs per month.

Mobile Experience / Digital Banking

EverBank makes it easy to deposit money in your account through mobile check deposits or online ACH transfers from another account. The bank supports Zelle for fee-free person-to-person transfers between family and friends. The mobile app garnered 4.5 stars on Google Play and 4.7 stores in Apple’s App Store.

Customer Service

EverBank offers customer service by phone six days a week by calling 888-882-3837. Representatives are available weekdays from 8 a.m. to 8 p.m. EST and Saturdays from 9 a.m. to 7 p.m. EST. You can also email customer service.

EverBank Money Market Account vs. Competitors

Today’s consumers have choices in where they park their savings. Let’s look at some competitive money market accounts to see how EverBank stacks up.

CIT Bank

CIT Bank is highly regarded for offering high interest rates and no fees. But you won’t find the best rates with its high-yield money market account. The account only offers APY. Also, it requires a $100 minimum deposit to open an account. As with EverBank, there are no monthly service fees with a CIT Bank money market account.

Discover® Bank

Discover® online banking offers a money market account with APY for balances under $100,000 and APY for balances over $100,000. However, you’ll need a minimum opening deposit of $2,500 to open an account. There is no minimum balance and no monthly maintenance fees. Discover shines in its customer service, providing phone support 24/7/365 at 800-347-7000.

Final Note

EverBank offers industry-high interest rates for account holders opening an EverBank Performance Money Market account right now.

Share This Article: