Monday, March 15, 2010

I Did It! Opened my New Ever Bank Checking & will be earning 2.25%

OK everyone. Don't fall over in shock. I realize I have been saying for 6 months I am moving my current Salem Five High Checking account out to another option and I kept dragging my feet.

Well, I finally did it today! I got my latest Salem Five statement this and saw that rates had dropped to .60% ( seriously? ) from the high of over 2% when I first shared their account with you a few years ago.

I know all the banks have dropped like this, too. It is a sad impact from our current countries financial situation, BUT that didn't mean I personally didn't want to earn more for our family.

So, I shopped a bit and decided on Ever Bank. I did look at Credit Unions ( which pay a bit higher ) but you usually have to use your debit card a set amount of times a month, pay so many bills, etc, etc. That didn't work for me, but it may for you. Definitely look into it if that is up your alley.

I needed just a regular checking that I could set up to auto pay my bills, direct deposit our checks and write personal checks from each month. Oh, and be able to withdraw from ANY ATM without fees, of course.

So, I bit the bullet and filled out the online application today. Once they send me my account information ( 5 to 7 days ) I can begin going thru my Salem Five statements and moving all the automatic payments over and finish the move.

I am thrilled. For the next 3 months, we will be earning 2.25% ( Intro Rate ) and then we go to a rate over 1%. Much better than all the other banks right now!

Plus, unlimited ATM Reimbursement ( which means any fees the we get charged from other banks, they will refund for me ), they will give us our ATM Card ( no Visa Debit cards for us ), and I even get free credit monitoring for 6 months.

Have you found a High Interest Checking account you like yet?

If not, get on it. It only took me minutes to open it up online, and now our family will be earning even more on something we use, our checking account. Remember every little bit helps, and there is no reason to not earn money on your checking.

Like your Brick and Mortar bank for depositing checks? Don't close it. I still have mine. I deposit all my checks there, and then each month electronically move it to my High Interest Checking online.

Interested in Ever Bank? Click here to read more and how to enroll.

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kelly said...

I have an account with ING direct for savings, have you compared the ING bank with the EverBank for checking?

Carrie @ said...


Yes, ING Direct only pays .24% ( less than my Salem Five ) up to $49,999, then 1.19% if you have up to $100,000 in your checking. And, 1.24% if you have over $100,000 1.24%.

So, Ever Bank is paying much more than that and if I read it correctly, guaranteed for the 1st year. That is a nice bonus, as other banks keep lowering their rates. And, with the 3 months of 2.24%, that will add up for those months also.

Carrie @ said...

Oh, and I really wanted one that had ATMs free at any location.

For our area ING only has ATMs inside stores ( Walgreens, Targets, etc ). Which is OK, but my husband doesn't do much shopping, and it isn't always easy for me to get out with the kids. So, I wanted to make sure we could just pop in any bank's ATM and get our money out for free.