I’m always looking for new high yield savings accounts as part of my job working at the bank. I think it’s always good to know where the competition stands. I’ve decided I’m going to start sharing some of my findings here, in hopes that someone can benefit from my research. Here’s my EverBank Review: EverBank Review EverBank is a bank that I hadn’t heard of, but decided I’d like to check out. EverBank is headquartered in Jacksonville, Florida and is FDIC insured, and carries a wide array of financial products, from checking accounts, money market accounts, high yield savings accounts, and even certificates of deposit. If you’ve got a decent emergency fund build, you want to look into EverBank.  In 2007, EverBank was named “Best of the Breed” by Money Magazine.  They continue to thrive even in today’s volatile market. Yield Pledge Money Market Account EverBank does have a $1,500 minimum opening requirement and if you don’t keep $5,000 in the account, you may be assessed a fee (around $9).  You could use this account to stash your emergency fund [...]

Awhile back, I talked about switching our main bank account to ING. I didn’t end up switching. After thinking about it and the steps I’d have to go to switch everything over, I chickened out. Then I heard that they do a credit check for the Electric Orange account, and I didn’t want my credit run, so that sealed the deal.  Recently I received a postcard in the mail for a $50 ING Electric Orange bonus and that made me question my decision. The deciding factor was that the check credit before they open an account.  I’ve got good credit, so what’s the problem?  Like many people, I don’t like the idea of having my credit checked more times than absolutely necessary.  I’m so fickle I don’t know when I’ll need to use my credit so I like to keep the credit checks down. Another factor of why I haven’t switched is because my hubby’s employer doesn’t offer direct deposit, so I’d still have to keep my accounts at my current bank open.  Not only would I have to keep [...]

photo credit: mynameisharsha One of the most important pieces a banking relationship is funds availability. I know it may sound pretty basic, but there are many, many people out there that don’t understand funds availability. Funds availability impacts everyone with a banking relationship. Funds availability is when you can use the money that you deposit.  Funds availability can greatly differ from bank to bank, so I encourage you to check with your bank to find out what their policy is.  I’m going to give you a few examples of how it can work. -A cash deposit is made into a checking account.  The funds are available immediately, and can be withdrawn, checks can be written, and the debit card may be used. -A deposit is made with a check from another bank.  The bank is local, so the money will be available to use the next day. -A deposit is made with a check from a non-local bank.  The funds take a few days to clear. -Large deposits may be subject to a Regulation CC Hold (Reg CC Hold).  It [...]