JACKSONVILLE, Fla.--(BUSINESS WIRE)--EverBank, a division of TIAA, FSB, announced today that its Yield Pledge® Money Market Account has been named a top money market account in NerdWallet’s 2018 Best-of Awards Program. In its third year, the program recognizes industry-leading options for consumers across a variety of financial products including credit cards, mortgages, banking, personal loans and investing.
"I am thrilled to congratulate the winners of NerdWallet's 2018 Best-of Awards Program on their industry-leading personal finance products," said Tim Chen, co-founder and chief executive officer at NerdWallet. “Consumers have more choice than ever when it comes to personal finance products, and our Best-of Awards highlight those that truly rise to the top. We’re very fortunate to work with partners who deliver products that help consumers with all of their financial needs.”
EverBank offers a guaranteed 1-year intro Annual Percentage Yield (APY) of 1.31% on balances up to $250K for first time account holders of their Yield Pledge Money Market Account1 along with their Yield Pledge promise to keep customers’ yields in the top 5% of Competitive Accounts offered at leading banks.2 The account is also IRA eligible and comes with free mobile check deposits3 and the ability to move money up to 6 times a month.4 In its review, NerdWallet highlights EverBank’s strong introductory rate, lack of monthly maintenance or EverBank ATM fees, and, for those who maintain a minimum balance of $5,000, unlimited ATM fee reimbursements for fees charged by other banks.5 To determine the best accounts for its “Best Money Market Accounts” Awards Program, NerdWallet reviewed more than 70 financial institutions.
“For us, it’s about helping clients make the most of their money,” said John Pataky, EverBank’s executive vice president, consumer division. “Our clients value and appreciate the importance of strong financial performance and we are committed to keeping hard-earned money safe and growing.”
Learn more about EverBank’s Yield Pledge® Money Market Account by visiting everbank.com/banking/money-market. EverBank is a division of TIAA, FSB. Member FDIC.
ABOUT EVERBANK
As a part of TIAA’s Retail Financial Services business, EverBank, a division of TIAA, FSB, provides full-service, nationwide banking and lending services to consumer, commercial and institutional clients through a variety of channels, including online, its Florida-based financial centers and at other business offices throughout the country. More information on EverBank can be found at https://about.everbank.
ABOUT NERDWALLET
NerdWallet offers consumers clarity for all of life's financial decisions. Whether it's regarding credit cards, insurance, loans or investing, people lack the clear, unbiased information they need to make the best choice. With NerdWallet, consumers have free access to user-friendly tools and advice that save time and money, and give them the freedom to do more. For more information, visit nerdwallet.com.
1. The Yield Pledge® Money Market Account is a tiered, variable rate account. The quoted Annual Percentage Yields (APYs) are accurate as of 1/5/2018 12:00:00 AM. A fixed, 1-year introductory APY is available for first-time Yield Pledge Money Market account holders on balances up to $250,000. The 1-year introductory APY for balances (i) up to $250,000 is 1.31%, and (ii) from $250,000.01 to $10,000,000 is best expressed as a range: 1.31% to 1.10%. Otherwise the variable ongoing APY applies by balance tier. Ongoing APYs and tiers may change without notice. If your average daily balance is within a tier, then your entire balance will have that corresponding APY, except as described above for the 1-year introductory APY. Current ongoing APYs and tiers are: 1.10% for $100,000 - $10,000,000; 1.01% for $50,000 - $99,999.99; 1.01% for $25,000 - $49,999.99; 1.01% for $10,000 - $24,999.99; and 1.01% for balances under $10,000. Higher balances are accepted. Accounts opened and initially funded with money transferred from an existing EverBank Yield Pledge Checking Account or Yield Pledge Money Market Account are not eligible for the 1-year introductory APY. The required minimum opening deposit is $5,000. Fees may reduce earnings.
2. EverBank promises that the yield on your Yield Pledge® Money Market Account will stay in the Top 5% of Competitive Accounts based on the Bankrate.com National Average survey data from the last week of each month. "Competitive Accounts" are similar accounts from the 10 largest banks and thrifts in 10 large U.S. banking markets. This includes data from the 5 largest banks and 5 largest thrifts in each market, except in markets without 5 banks and 5 thrifts. Each week Bankrate surveys these institutions and distributes its results on a paid subscription basis. Not all institutions report each week. EverBank reserves the right to change its Yield Pledge calculation method as necessary to accommodate changes in Bankrate's survey methodology at any time.
3. Must be an existing EverBank client eligible to enroll in Online Check Deposit using our downloadable Android or Apple mobile banking app. See our Online Check Deposit Services Agreement for information on crediting of deposits. Funds availability subject to EverBank’s
4. Federal regulation limits money market accounts to 6 transfers or withdrawals per month, for most types of transfers and withdrawals. Certain transfers and withdrawals are not subject to this limit. See Personal Account Terms, Disclosures and Agreements Booklet for details. Withdrawals and transfers above this limit are subject to a fee. We may close or convert your account to a checking account for repeated occurrences.
5. EverBank does not charge ATM fees. EverBank automatically reimburses ATM fees paid at other U.S. ATMs every month on EverBank accounts with a minimum average daily balance of $5,000. Reimbursement subject to termination for fraud or abuse.
