- Offer No Longer Available -
As of today we’ve got a new leader in promotional checking account offers. From now until November 30, 2011, EverBank is offering consumers $60 in cash to switch to their already popular “yield pledge checking account!”
This checking account offer couldn’t have come at a better time. With the much hyped news regarding Bank of America, Chase and Citibank beginning to impose fees for use of their checking accounts and debit cards, this is a very enticing lure for already frustrated customers of these big banks. In our opinion, this limited time offer from EverBank should shore up a ton of new accounts for them due to the fact that many consumers who currently hold checking accounts with the nation’s largest banks are actively seeking alternatives.
Unlike the new fees imposed by some of the nations most well established banks, EverBank has ZERO ATM Fees, Zero Debit Card Fees and provides an interest rate for your balance.
The Yield Pledge Checking Account which has the $60 sign-up promotion promises to (err…pledges to) provide a yield within the top 5% of all competitive banks. Currently this yield sits at 0.61% APY. To put this in perspective the national average for money market accounts sits at roughly 0.50% APY.
Terms and Conditions to Receive $60 Bonus:
1) This must be your first checking account with EverBank
2) Account must be funded with at least $1,500 by Nov 30, 2011 – the promotion’s deadline.
3) You must set up a direct deposit and receive at least one payment of $500 before the end of January 2012.
4) You need to maintain the average daily balance of $1,500 for the statement period ending December 31, 2011.
5) You must keep the account open until at least the end of February. They will drop the $60 into your account no later than February 28, 2012.
The reason banks typically require a waiting period before providing the cash bonus to new customers is because many customers attempt to simply open the account for the cash then close it immediately following the bonus.
Yields on savings accounts are low across the board lately, but in the past Everbank’s CD rates have also featured noteworthy APY’s on BankVibe.com.