EverBank Yield Pledge® Checking Review: A High APY and Unlimited ATM Fee Reimbursement

The EverBank Yield Pledge® Checking offers a slate of unique perks, including a guaranteed competitive APY and rare debit card protections. But it’s frequent ATM users who stand to benefit most from this account, thanks to EverBank's unlimited ATM fee reimbursements for customers with large enough balances. Check out our full EverBank Yield Pledge® Checking review to learn about whether it’s the right home for your money.

Guaranteed competitive APYs: EverBank's Yield Pledge® promise guarantees that the account’s APYs will always be within the top 5% of competitive checking accounts offered by the 10 largest banks in 10 large U.S. banking markets. So while EverBank’s rates may change over time, you can always be sure that you're getting a high APY.

ATM fee reimbursement: EverBank Yield Pledge® Checking holders may use Allpoint and MoneyPass® ATMs without incurring a fee, but don't worry if you don't live near one of these. People with minimum balances under $5,000 receive up to $15 in reimbursements per month, while those with balances of $5,000 or more are eligible for unlimited ATM fee reimbursements.

Debit card includes purchase protections: Your EverBank debit card includes some rare purchase protections usually reserved for credit cards. These include:

• Extended warranty protection: When you use your EverBank debit card on an eligible purchase that carries a U.S. manufacturer’s warranty, the bank may extend your protection. Warranties of three years or less may be extended by up to one year, and warranties of one to six months could be doubled.
• Price protection: If you purchase an item with your EverBank debit card and the price drops within the next 60 days, EverBank’s price protection program can pay you the difference between the price you paid and the new advertised price, up to $250.
• Return protection: Return protection may reimburse you for the cost of an item even if the merchant refuses to take it back. Only purchases made with your debit card within the last 90 days qualify for return protection.

FDIC insured: EverBank is an FDIC member. That means your funds, up to $250,000 per depositor, per institution, are protected in the event of bank failure.

What could be improved

APY tiers: EverBank could offer more tiered incentives for its APYs. As it stands, those with large balances earn the same APY as those who only keep a few dollars in their account.

Here's a closer look at your options for depositing and withdrawing money from your EverBank Yield Pledge® Checking.

Deposit options

Use any of the following methods to fund your EverBank Yield Pledge® Checking:

• ACH transfer
• Wire transfer
• Mailed check
• Mobile-deposited check
• Visit a TIAA Bank branch

If you're looking to deposit your funds in person, note that EverBank currently has only nine financial centers in the U.S., and they're all in Florida.

Withdrawal options

You can choose from any of these methods to withdraw money from your EverBank Yield Pledge® Checking:

• ACH transfer
• Wire transfer
• Check withdrawal
• ATM withdrawal
• Point-of-sale withdrawal
• Visit a EverBank branch (only in Florida)

While you can technically use any ATM without paying a fee thanks to EverBank's ATM fee reimbursements, you can skip those extra hoops by using one of its surcharge-free ATMs. The Find an ATM tool on EverBank's website and its mobile app can help you find the one nearest you.

The EverBank Yield Pledge® Checking is best for those who frequently use ATMs and maintain a balance high enough to get unlimited reimbursements. If you aren't keeping a large balance, there are other checking accounts to consider. But anyone can enjoy the account's rare protections on debit card purchases and guaranteed competitive rates.