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$40 Checking Account Bonus for Opening EverBank's Checking Account

POSTED ON BY

EverBank
EverBank is offering a $40 bonus to new customers who open an EverBank FreeNet Checking account through the bank's link on BestCashCow.com. A minimum deposit of $40,000 is required to qualify for the $40 bonus. According to BestCashCow, this is a very limited time offer.

EverBank is still offering 4.00% for the first 3 months for new customers who open the FreeNet Checking. With falling interest rates, this is a good deal for money that you don't want to lock into a CD.

Some other important small print of this offer:
  • Customer must maintain an average monthly balance of not less than $40,000 for at least one statement period during the first three statement periods after account opening.
  • Customer may not be a current or former FreeNet Checking Account customer of EverBank.
  • Must keep the account open for 180 days of funding to maintain the bonus.
EverBank has recently made improvements to its account application process allowing people to fund the account with an ACH transfer. However, the initial ACH deposit is limited to $25,000, so this may complicate doing the necessary funding for this promotion.

For more details on EverBank and its accounts, please refer to my previous EverBank post. One thing to note about EverBank is that they offer IRAs for both their CDs and money market account.

EverBank has solid ratings for soundness: 4 stars (excellent) at BauerFinancial and 4 stars (sound) at Bankrate. Both are based on 9/30/08 data. EverBank has been FDIC insured since 1998 (FDIC Certificate # 34775).

Edit 12/17/08: Added note regarding EverBank IRAs.
  Tags: IRA rates, EverBank, checking account

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Comments
4 comments.
Comment #1 by jim (anonymous) posted on
jim
$40 on $40,000? That's doesn't seem to be very appealing... at least you also get 4% for those 3 months.

1
Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Yes, it would probably only be worthwhile if you were planning on opening an EverBank checking account in the first place.

1
Comment #3 by Anonymous posted on
Anonymous
An ACH limit of $25,000 and you need to deposit $40,000 to get the bonus? Sounds like they are making it hard for you to get the bonus by either mailing them a check or submit multiple ACH requests from your other bank.

1
Comment #4 by Anonymous posted on
Anonymous
$40 on $40,000 is not a Bonus EverBank!

1