4.4/5
EverBank Service Evaluation
Key Takeaway: EverBank (Expert Score: 4.4/5.0)
EverBank receives an Expert Score of 4.4/5.0 from BestGuide’s panel of industry specialists, based on an analysis of 18 expert reviews across 5 evaluation criteria. EverBank is a top-tier choice for online savers, with high-yield savings APYs frequently exceeding 5.00%. It is best for digital-first customers who prioritize interest rates over in-person branch access.
EverBank excels in APY Competitiveness with a score of 90%, offering rates more than 10 times the national average. Headquartered in Jacksonville, Florida, the bank is FDIC-insured and operates under CEO Greg Seibly (since 2023). It holds a BBB A+ rating from BBB Serving Northeast Florida and The Southeast Atlantic, though it is not BBB-accredited. Following its August 2023 separation from TIAA, EverBank is owned by a consortium including Stone Point Capital, Warburg Pincus, Reverence Capital Partners, Sixth Street, and Bayview Asset Management, with TIAA retaining a noncontrolling interest.
EverBank earns an Expert Score of 4.4/5.0 from BestGuide, positioning it as a highly competitive option among online banks, particularly for its deposit products. This EverBank review synthesizes findings from 18 professional sources, focusing on interest rates, fees, and digital tools. The bank’s primary strength is its APY competitiveness, where it scores 90%, frequently offering rates more than 10 times the national average on its savings accounts.
Our analysis of EverBank reviews shows that customers prioritize the bank for its strong returns on high-yield savings and certificate of deposit (CD) accounts. While it offers a full suite of banking products, its reputation is built on these core offerings. For those seeking maximum yield, EverBank presents a compelling, FDIC-insured platform.
How EverBank Works
EverBank operates primarily as a digital bank, providing services nationwide through its website and mobile apps. The institution, which was rebranded from TIAA Bank in August 2023 when TIAA sold the bank to a consortium of private equity investors, focuses on offering high-yield deposit accounts, including savings, money market, and CD accounts, alongside standard checking and lending products. This online-first model allows it to maintain low overhead costs and pass those savings to customers through higher interest rates. EverBank is a national bank (converted from a federal thrift in 2023) with approximately $36.8 billion in assets at the time of the spinoff.
Opening an Account
New customers can open an account online in approximately 5 to 10 minutes. The process requires standard personal information, such as a Social Security number, a U.S. government-issued ID, and a U.S. street address. Minimum opening deposits vary by product; for example, the flagship Performance Savings account has no minimum to open, while CDs typically require a minimum of $1,000.
Funding and Accessing Your Money
Once an account is open, funds can be deposited via electronic transfer (ACH), mobile check deposit, or wire transfer. EverBank’s routing number (ACH) is 063092110, with wire transfer routing 063000225 and SWIFT code EVBKUS3M. Withdrawals and access are managed through the online portal, mobile app, or by using an ATM. EverBank provides access to a large network of over 80,000 surcharge-free ATMs nationwide and offers ATM fee reimbursements up to $15 per month for certain checking accounts.
Who EverBank Is Best For
EverBank is best for U.S. residents who are comfortable with digital banking and prioritize earning the highest possible interest rates on their savings. It is an ideal choice for individuals looking to open a high-yield savings account or invest in CDs with APYs that consistently rank in the top 5% of the market. Customers who do not require frequent access to physical branches and seek an FDIC-insured institution to grow their cash reserves will find EverBank’s offerings highly suitable.
EverBank Standout Features
BestGuide’s analysis identified three key features that differentiate EverBank from its competitors. Each feature is designed to provide quantifiable value to its customers, primarily through interest rates and rate guarantees.
Performance Savings Account: EverBank’s most popular product is its high-yield savings account, which consistently features an APY over 5.00%. This rate is often more than 10 times the national average savings rate as reported by the FDIC, providing a significant advantage for savers. The account has no monthly maintenance fees and no minimum balance requirement to earn the stated APY.
Yield Pledge Promise: For its checking and money market accounts, EverBank offers a unique Yield Pledge promise. This feature guarantees that the interest rates on these accounts will always remain in the top 5% of competitive accounts, based on data from the 10 largest banks and thrifts in 15 major U.S. markets. This provides customers with confidence that their rate will remain competitive over time.
Diverse CD Options: EverBank offers a wide range of Certificate of Deposit (CD) products with terms from 3 months to 5 years. Their CD rates are highly competitive, often exceeding 5.25% for terms around one year. They also offer a unique “Bump-Rate” CD option, which allows customers to request a one-time rate increase if EverBank’s offered rate for the same term rises during the CD’s lifetime.
EverBank Pros and Cons
| Pros | Cons |
|---|---|
| Top-Tier Interest Rates: APYs on savings and CDs frequently exceed 5.00%, placing them in the top 5% of online banks. | Limited Physical Locations: EverBank operates fewer than 20 financial centers, almost exclusively in Florida, making in-person banking inaccessible for most customers. |
| No Monthly Fees: The Performance Savings account has a $0 monthly maintenance fee, saving customers an average of $5 to $10 per month compared to many traditional banks. | Minimum Deposit for CDs: Most CD products require a minimum opening deposit of $1,000, which can be a barrier for new savers. |
| BBB A+ Rating: Holds A+ letter grade from BBB Serving Northeast Florida and The Southeast Atlantic, with relatively low complaint volume (40 complaints in last 3 years) for a bank of its size. | Not BBB-Accredited: EverBank has not formally sought BBB accreditation, though the A+ rating is independent of accreditation status. |
| Full FDIC Insurance: All deposit accounts are fully insured by the FDIC up to the standard maximum of $250,000 per depositor, per ownership category. | Customer Review Score: Low BBB Customer Review score of 1.13/5 across 38 reviews, with users citing communication and account servicing issues. |
Is EverBank Legit?
Yes, EverBank is a legitimate and reputable financial institution. It is a federally chartered national bank headquartered at 8100 Nations Way, Jacksonville, FL 32256, and has roots stretching back to 1961. According to its BBB profile, EverBank’s Business Started date is March 11, 1977, with the BBB File Opened January 1, 1987. The current incarnation was formed in 1994 when Chairman Robert Clements led an investor group acquiring Jacksonville-based Alliance Mortgage Company. In 1999, Frank Trotter and partners founded the EverBank brand. The bank has 49 years in business per the BBB profile.
EverBank has gone through multiple ownership and branding transitions. On June 9, 2017, TIAA acquired the bank and later renamed it TIAA Bank. In August 2023, TIAA sold the bank to a consortium of investment firms (Stone Point Capital, Warburg Pincus, Reverence Capital Partners, Sixth Street, and Bayview Asset Management), and the name returned to EverBank. TIAA retained a noncontrolling interest. The BBB profile lists “Sterling Bank & Trust” and “TIAA Bank” among alternate names, reflecting this corporate history. In September 2024, EverBank announced the acquisition of Sterling Bancorp for $261 million in cash, completed in early 2025, expanding EverBank’s footprint into California with 25 branches in the Los Angeles and San Francisco markets.
Current leadership includes Greg Seibly as Chief Executive Officer (since 2023) and David DePillo as President. Seibly brings over 35 years of banking experience, previously serving as President of Union Bank and Head of Regional Banking, CEO of the Federal Home Loan Bank of San Francisco, and CEO of Sterling Financial Corp. DePillo previously served as President of Dallas-based First Foundation Bank. Steve Fischer serves as Vice Chairman, having led the bank as President and CEO during TIAA’s ownership. Patrick “Pat” Rusnak serves as Executive Vice President and CFO.
To address the question “is EverBank safe,” it is important to note its regulatory status. EverBank is a member of the Federal Deposit Insurance Corporation (FDIC). This means that all customer deposits are insured against bank failure up to the maximum amount allowed by law, which is currently $250,000 per depositor, for each account ownership category. EverBank also operates EverHome Mortgage as its mortgage servicing division, with complaints related to that division handled separately through the BBB Serving Northeast Florida and The Southeast Atlantic.
EverBank BBB Rating and Accreditation
EverBank holds a BBB A+ rating from BBB Serving Northeast Florida and The Southeast Atlantic. However, EverBank is NOT BBB-accredited. The BBB profile explicitly states that “EverBank is NOT a BBB Accredited Business.” BBB accreditation is an optional certification that requires businesses to agree to BBB Standards for Trust and pass BBB’s vetting process, while the A+ letter grade is independent and reflects BBB’s assessment of complaint history and resolution practices.
According to BBB data accessed May 2026, EverBank has 40 total complaints in the last 3 years and 10 complaints closed in the last 12 months. The Customer Review score is 1.13 out of 5 stars across 38 customer reviews. These complaint figures are relatively low for a bank with approximately $36.8 billion in assets and reflect that EverBank operates with a smaller direct retail footprint compared to major national banks. The low customer review score reflects consumer concerns primarily around account opening issues, customer service responsiveness, and app reliability.
The BBB profile notes an Important Information disclosure: “The BBB Serving Northeast Florida and The Southeast Atlantic handle all complaints for EverHome Mortgage Company, nationally. This report reflects complaint activity for the entire United States.” This means the bank’s profile captures both direct banking and mortgage servicing concerns. BBB-listed contacts include Renee C Holmes (Correspondence Manager and Customer Contact), Kamaria Evans (Manager of Quality Assurance), and Vanja Strikovic. The BBB Business Categories cover Bank, Financial Services, Mortgage Lenders, Investment Management, and Commercial Real Estate.
EverBank Cost: What You Should Expect to Pay
EverBank’s fee structure is highly competitive, especially for its savings products. The bank’s business model focuses on attracting deposits by minimizing common banking fees. This places EverBank in the lower range for costs compared to traditional brick-and-mortar banks, which average over $10 per month for checking account maintenance.
| Account Type | Monthly Maintenance Fee | Notes |
|---|---|---|
| Performance Savings | $0 | No minimum balance required. |
| Yield Pledge Checking | $5 (waived) | Fee is waived with an average daily balance of $5,000. |
| CDs (All Terms) | $0 | Penalties apply for early withdrawal (e.g., 90 days of interest). |
Final Verdict: EverBank Review
EverBank earns an Expert Score of 4.4/5.0, reflecting its status as an excellent choice for consumers seeking high returns on their cash deposits. The bank’s main appeal lies in its consistently high APYs for savings accounts and CDs, which often place it in the top tier of all U.S. banks. Our EverBank review concludes that its digital platform is robust and its fee structure is minimal, making it a powerful tool for growing savings efficiently. The 2023 spinoff from TIAA, fresh leadership under CEO Greg Seibly, and the 2025 expansion into California via the Sterling Bancorp acquisition signal a strategic growth chapter for the institution.
The primary drawbacks are the lack of a significant physical branch network and customer service feedback challenges. With a BBB Customer Review score of 1.13/5 across 38 reviews, some users have reported account servicing and communication issues. For savers who are comfortable with an online-only banking relationship and prioritize yield above all else, EverBank is one of the strongest contenders available. Analysis of multiple EverBank reviews confirms that if high interest rates are your goal and you are comfortable with limited in-person support, EverBank is a strong “yes.”
Frequently Asked Questions About EverBank
What do experts say about EverBank?
Experts award EverBank high marks for its interest rates and low fees. BestGuide’s analysis assigns EverBank an Expert Score of 4.4/5.0, with its APY Competitiveness scoring 90%. Experts consistently rank its Performance Savings account among the top 5 nationally for yield.
Is EverBank worth it in 2026?
Yes, EverBank is worth it for savers focused on maximizing interest earnings. With savings APYs often exceeding 5.00% and competitive CD rates, it offers significant value for those who do not require in-person banking services. Its FDIC insurance up to $250,000 makes it a secure option for growing cash.
How does EverBank compare to other banks?
EverBank offers significantly higher interest rates than most traditional brick-and-mortar banks, which average less than 0.50% APY on savings. Compared to other online banks, it is highly competitive on rates but may have fewer loan products or a less streamlined app than some fintech-focused competitors.
Is EverBank a good bank for high-yield savings?
Yes, EverBank is considered one of the best banks for high-yield savings. Its Performance Savings account consistently offers an APY that is more than 10 times the national average. The account has no monthly fees and no minimum balance required to earn the high rate.
Is EverBank legit and FDIC insured?
Yes, EverBank is a legitimate U.S. bank and a member of the FDIC. All deposit accounts are insured up to the maximum legal limit of $250,000 per depositor, per account ownership category, making it a safe place to keep your money.
Is EverBank BBB-accredited?
No. EverBank is NOT BBB-accredited, although it holds a BBB A+ rating from BBB Serving Northeast Florida and The Southeast Atlantic. BBB accreditation is optional and EverBank has not formally sought it. Per the BBB profile, EverBank has 40 total complaints over the last 3 years and a Customer Review score of 1.13/5 across 38 reviews.
Who owns EverBank?
EverBank is owned by a consortium of private equity firms including Stone Point Capital, Warburg Pincus, Reverence Capital Partners, Sixth Street, and Bayview Asset Management, with TIAA retaining a noncontrolling interest. The consortium acquired EverBank from TIAA in August 2023, when the bank was rebranded back from TIAA Bank to EverBank. Greg Seibly serves as CEO and David DePillo as President.
What is EverBank’s history?
EverBank’s roots stretch back to 1961, with the BBB-registered Business Started date of March 11, 1977. The current incarnation was formed in 1994 by Chairman Robert Clements and developed under founder Frank Trotter in 1999. TIAA acquired the bank in June 2017 and renamed it TIAA Bank. In August 2023, a consortium of private equity firms acquired the bank from TIAA, restoring the EverBank name. In 2024, EverBank announced and completed in 2025 the $261 million acquisition of Michigan-based Sterling Bancorp, expanding into California markets.
What are EverBank’s CD rates?
EverBank’s CD rates are very competitive and vary by term length. Rates for terms between 9 months and 2 years often range from 4.75% to over 5.25% APY. A minimum deposit of $1,000 is typically required to open a CD. EverBank also offers a unique “Bump-Rate” CD option that allows customers to request a one-time rate increase during the CD’s term.
Does EverBank have physical locations?
Yes, but its physical presence is extremely limited. EverBank operates fewer than 20 financial centers, with the majority located in the state of Florida. Following the 2025 Sterling Bancorp acquisition, EverBank also has presence in California (Los Angeles and San Francisco markets) and Michigan. For most customers in the U.S., it functions exclusively as an online bank.