Is EverBank safe? Full guide

Online banking makes it easier than ever to manage your finances, but safety should always be your top priority. EverBank, formerly known as TIAA Bank, is a US financial institution that offers checking, savings, and investment accounts through its digital platform.

In this guide, you’ll learn how safe EverBank is, how your money is protected, and what security measures the bank uses.

We'll also introduce Wise — your international money transfer alternative. Use Wise to send stress-free transfers to over 140 countries - all at the standard mid-market exchange rate.

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Is EverBank safe to use?

Yes, EverBank is generally considered safe for US banking customers. The institution promotes its financial stability, reporting $44.4 billion in assets and $34.8 billion in deposits as of June 30, 2025.¹ While a strong asset base is not a guarantee, it adds an extra layer of confidence.

EverBank changed ownership in 2023 when TIAA sold EverBank to a private equity consortium, a transition noted by some credit-rating agencies.² That shift may warrant closer inspection by customers who prioritize long-term stability.

Is EverBank FDIC insured?

Yes. EverBank is an FDIC-insured institution, which means deposits are protected up to $250,000 per depositor, per ownership category.³ This insurance applies to checking, savings, and certificate of deposit (CD) accounts.

If the bank were ever to fail, the Federal Deposit Insurance Corporation (FDIC) would reimburse customers for their insured balances, ensuring their money remains secure. You can verify EverBank’s coverage through the FDIC BankFind tool using its certificate number, 34775.⁴

It’s worth noting that FDIC protection doesn’t extend to investment products such as mutual funds, bonds, or annuities, even if these are purchased through the bank.

Together, these protections give customers confidence that their deposits are safeguarded under US federal standards.

What are EverBank’s security features?

EverBank offers a variety of security measures to help keep your account and data protected. Below are key features that customers can use to improve safety.

Real-time transaction alerts & debit card controls

EverBank sends instant push notifications or emails when large or unusual transactions occur. The mobile banking app also lets you freeze or unfreeze your debit card instantly if it’s lost or stolen.⁵

Encryption, secure sessions & mobile app protections

EverBank uses industry-standard SSL encryption for online sessions and secure login methods such as Face ID or fingerprint on mobile devices. These features help block unauthorized access even if login credentials are compromised.

Fraud prevention tools & identity protection resources

EverBank provides tools and educational resources around phishing, smishing, and identity theft prevention. It also offers support pathways if you believe your identity has been compromised, including account recovery and card replacement.

Together, these safety measures create multiple layers of protection for EverBank users. While no system is impenetrable, using these tools and remaining alert to your account activity helps strengthen your security.

Pros and cons of EverBank

Before deciding if EverBank is the right fit, it’s worth looking at its biggest advantages and drawbacks. Like most US banks, it provides federal insurance and digital security, but it may fall short for those who want global access or higher savings returns.

EverBank’s biggest strength lies in its focus on security and convenience for US customers. Its online tools and debit card protections make daily banking simple and safe. However, if you frequently send or receive money abroad, you may find its offerings limited.

If that’s your priority, you could explore Wise, a global account that lets you send, hold, and spend money in over 40 currencies, all at the mid-market exchange rate.

Tips and tricks for avoiding scams

To protect yourself from potential scams while banking with EverBank, keep these tips in mind:

• Verify sender information: EverBank will never ask for your password, PIN, or verification code by phone, text, or email. Always confirm that messages come from official channels before taking action
• Use only official platforms: Log in directly at everbank.com or through the official mobile app. Avoid links sent by text or email that could lead to phishing sites
• Turn on account alerts: Enable instant notifications for transactions or login attempts so you can quickly spot suspicious activity
• Use strong passwords and two-factor authentication (2FA): Create complex passwords and activate 2FA to keep your account secure if your password is compromised
• Be cautious on public WiFi: Avoid logging in to your bank on public networks. If you must, use a trusted VPN

Most banks, including EverBank, provide built-in protections designed to keep you safe. Pairing these with good digital habits, like reviewing your account regularly and updating your security settings, can greatly reduce the risk of fraud.

Bottom line: Is EverBank safe?

Yes, EverBank is a solid option for everyday banking in the US. It’s FDIC-insured, so your deposits are protected up to $250,000 per depositor, per ownership category. The bank also demonstrates stability through its public disclosures about assets and its deposit base.

That said, if you frequently move money across borders or need multi-currency features, EverBank may be less suited to your needs. For global transfers and currency-flexible accounts, you might want to explore what other platforms offer.

Still, for US-based banking with standard protections and modern security tools, EverBank is a trustworthy choice.

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Sources

1. EverBank – Committed to financial strength and soundness
2. KBRA – EverBank Financial Corp
3. EverBank – EverBank FDIC coverage
4. Banks – Institution Details
5. EverBank – Alert & push notifications

Sources checked 12/17/2025