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Everbank FreeNet checking account currently offers 4.51% APY for the first three months


$50 promo info from the bank website as of 11/02/07:

"""
Try the FreeNet Checking Account for three months. If you're not completely satisfied, we'll send you a check for $50 to show how much we appreciate you for giving us a try. To qualify for the $50 satisfaction guarantee, you must have used our Online Bill Pay feature at least three times and your account must have been closed within 30 days of your three-month anniversary.

Customer must notify EverBank of reason for dissatisfaction within 30 days of 3-month anniversary. Limit one per household. New EverBank customers only. Not valid with any other EverBank offer. Minimum of 3 online bill payments over the 3-month period required. Then, if for any reason whatsoever you are not completely convinced that our FreeNet Checking Account is the best bank account in the nation, tell us about your experience. If you close your account within 30 days of your 3-month anniversary, We'll send you a check for $50.00 after we hear from you, as our way of saying "Thank You!" for giving us a try.
EverBank pledges to keep the yield on your account in the top 5% of competitive accounts as tracked in the Bankrate.com National IndexTM of leading banks and thrifts.
"""


Source: everbank.com/001CheckingGuarantee.aspx


Promo rate terms:

The introductory 4.51% annual percentage yield (APY) on EverBank’s FreeNet Checking Account is current as of 2/15/2008 12:00:00 AM and will apply to the first $100,000 on deposit for the first three months after account opening, and may change at any time prior to account opening. During the three-month period after account opening, the introductory yield will be applied to the first $100,000 in your account and a 3.51% APY will apply on any balance over $100,000. This corresponds to a blended APY for the 12 month period after the account is opened for funds up to $100,000, based on our current ongoing yield, the current introductory yield and the average collected daily balance on your account, as follows: $50,000 - $100,000, 3.57%; $25,000 - $49,999, 3.45%, $10,000 - $24,999, 3.41%, and under $10,000, 3.38%. This is a tiered, variable rate account and any of the rates may change at any time without notice. This introductory APY offer is available to first-time EverBank account holders only and is limited to one account per household. Minimum opening deposit of $1,500 is required

Hi there,
I am not exactly sure what will qualify for "three web payments" -(for EVERBANK).

Your help will be G R E A T L Y appreciated

Thanks.

...bill payments that initiated from Everbank web site using Everbank online bill payment system...

I would do three bill payments to different companies just in case. If this is a problem, you can ask members of MoneyBB and FatWallet about their experience with Everbank bonuses. You can consider posting your question in the following threads:

http://www.fatwallet.org/forums/messagevie...threadid=184715

http://www.moneybb.com/forum/viewtopic.php?t=557

Thank you.

I wonder about the good judgment of offering customers $50 to go away. Everbank used to offer a sign-up bonus, and that's trouble enough, I guess, though I've collected a few .

I also have a problem with someone opening an account with the intention of closing it for the payment three months later.

But of course, it's not my bank, so they can do what they want, and the customers can do what they want.

I have never understood it either. Apparently, Everbank hopes that a customer who do not like the bank, will forget to make three bill payments during a three- month period to be eligible for bonus. I doubt that the promo was designed with bargain-hunters in mind

I think it makes more sense to give people $50 to sign up, I have signed up for accounts to get a bonus, and I end up staying with them, like ING has been great so far.
Is this deal still valid to get the $50 to close an account?

I think so. They still offer banners that mention the $50 account closure bonus to Everbank affiliates. Everabank customer service would be the most reliable source of information to address your question though.

Deal is still valid as of today.

Do we know many people have actually successfully gotten their $50? I remember some accounts of Everbank refusing to give people their money. I can't imagine them being very happy about it.

Most troubles that I have seen people reported were caused by customer not following the rules e.g.
- not making three bill payments within three months
or
- not requesting the check within one month of the three-month of account anniversary

My Everbank account should currently be in the process of being closed. I called them a few days after my 3 month anniversary to ask how I go about receiving the $50 and closing my account. The customer service representative replied that I needed to send them a letter stating the reason for my dissatisfaction and requesting the account closure. I mailed this letter in on 1/19/2006 and have yet to receive any sort of response. I was careful to thoroughly identify my account and contact information. I additionally gave the reference numbers for the three online bill payments that I completed through their web site and gave a few bulleted reasons for dissatisfaction (the main one being that their standard APY isn't competitive with other online banks). I may call tomorrow to see if they received the cancellation request.


--Jay

Does anyone receive $50 for close a account

I got the $50 credit when I closed my account.


--Jay

I also received the $50 upon closing the account.

The reason that I closed my account PROMPTLY upon the expiration of the
teaser rate might be of interest to you.

Prior to the expiration of the teaser rate, I called and asked a customer
service rep about the possibility of an extension... or if not, when, exactly
my teaser rate would expire.

His attitude was quite arrogant. I got the feeling that he (and possibly
one or more of his supervisors or other management personell) was
looking down on me as simply one of those suckers who was hooked
on the teaser rate.

In other words, he appeared to be keenly aware of the difference
(especially in customer service) between an e-Bank simply offering
a higher rate and a Brick and Mortar Bank such as Presidential Bank
which offers the same thing PLUS excellent customer service.