From now until the last day of November, EverBank is offering $60 cash for consumers who sign up for their Yield Pledge Checking Account. The $60 in cash represents the money some customers pay in debit card fees each year and EverBank is convinced that once you try their account, you’ll never consider going back to the big banks again. Allow me a minute to take you through the terms and conditions of this offer and provide a quick review of the Yield Pledge Checking Account.
In order to qualify for the $60 cash bonus, a specific set of criteria must be met after being approved for a Yield Pledge Checking Account. Those criteria are:
- The minimum deposit when opening the account must be $1500
- The account must be opened by November 30th, 2011.
- You must obtain an average daily balance of $1,500 for statements ending December 31st and January 31st.
- You must keep the account open until February 29th, 2012.
I should add one more requirement to the list above, and it’s that an applicant must have at least good credit in order to be approved. EverBank performs a hard pull on your credit report and my credit score of 595 according to the Equifax credit bureau was too low to be accepted. I know that my credit score sucks (come a long way since the 430 days) but I wasn’t expecting to be declined for a deposit account. Make sure if you apply, you have a good credit score.
EverBank Current Checking Account Interest Rates
EverBank does not charge a monthly or annual fee for owning a Yield Pledge Checking Account, however if you pay your bills online using this account, you must maintain a balance of $5,000 or more, otherwise an $8.95 monthly fee applies. Also, any ATM fees you receive while withdrawing money from your EverBank Yield Pledge Checking Account will be reimbursed, no matter how frequent or how high. This is an excellent perk for travelers who are always racking up ATM fees.
There’s been a lot of hullabaloo in the last few months about big banks adding debit card fees, than recently deciding against the practice. Bank of America has made headlines almost every day because of this and even though account holders can breathe easy now, it’s just the beginning. Take advantage of the limited time offer EverBank is putting forward and sign-up for a Yield Pledge Checking Account while you still can.