EverBank Ups Checking Intro Rate to 5.01%

EverBank raised the intro rate of its FreeNet Checking Account from 4.50% to 5.01% APY. This rate is good for the first 3 months. After the intro rate expires, you'll earn a rate between 3.01% to 3.55% based on the balance. There's a minimum opening deposit requirement of $1.5K.

There are no monthly maintenance fees except if you use the web bill payment option. In that case the $4.95 monthly fee can be avoided with a $1.5K balance.

Some additional perks of this checking account include rebates for some ATM surcharges, an online external transfer feature, and no fees for unlimited check writing. It doesn't offer free checks, but the first 50 are free.

One drawback is that the account opening process can't be done entirely online. The process seems to require you to send in the application by mail with a check or money order.

This checking account has a nice satisfaction guarantee. If your close your account within 30 days of your 3-month anniversary, EverBank will send you a check for $50. To qualify, you must have made at least 3 Web bill payments and notified EverBank of the reason for dissatisfaction.