EverBank deposits are FDIC insured up to the standard limit of $250,000 per depositor, per bank, per ownership category

EverBank is a federally chartered bank, which means it holds an FDIC charter and your deposits receive the same FDIC protection as any other bank. The $250,000 limit applies to each account you hold there in your own name. If you have a joint account with someone else at EverBank, that account gets its own $250,000 protection, separate from your individual accounts.

EverBank operates as a direct bank with no physical branches—you manage accounts online or by phone. That online-only model does not change your FDIC coverage. The bank is owned by CURO Group Holdings as of 2023, but ownership changes do not affect FDIC insurance status as long as the bank keeps its federal charter.

The FDIC insures deposits, not investments. If you hold stocks, bonds, mutual funds, or other securities through EverBank, those are not covered by FDIC insurance. Money market accounts and savings accounts at EverBank are covered. Certificates of deposit (CDs) are covered. Checking accounts are covered. Brokerage products sold through the bank are not.

Key Takeaways

  • EverBank holds an FDIC charter, so deposits in savings accounts, checking accounts, and CDs are insured up to $250,000 per account category.
  • Joint accounts at EverBank receive separate $250,000 FDIC protection from your individual accounts at the same bank.
  • FDIC insurance covers deposit products only—stocks, bonds, and mutual funds held through EverBank are not protected by FDIC insurance.
  • You can verify EverBank's FDIC status and find your bank's certificate number on the FDIC's official bank search tool at fdic.gov.

How FDIC coverage works across multiple accounts at EverBank

The $250,000 limit is per ownership category, not per account. This means if you have three separate savings accounts in your name at EverBank, they all count toward one $250,000 total. The FDIC does not insure each account separately just because they have different purposes or balances.

Joint accounts are a different ownership category. If you and your spouse have a joint savings account at EverBank, that account is insured for $250,000. You can also each have individual accounts at EverBank, and each of those gets its own $250,000 protection. The joint account does not reduce the coverage on your individual account, and vice versa.

Retirement accounts (IRAs, SEP-IRAs, and similar) are also a separate category. An IRA at EverBank receives $250,000 of FDIC protection independent of any other accounts you hold there. If you have both a regular savings account and an IRA at EverBank, you have $250,000 coverage on each.

What happens if EverBank fails

If EverBank were to fail, the FDIC would step in as the insurer of last resort. The FDIC does not prevent bank failures—it protects depositors when they happen. The agency would either arrange for another bank to take over EverBank's deposits or pay out insured balances directly to depositors.

In most modern cases, the FDIC arranges a transfer to another bank. You would wake up one day to find your account transferred to a new institution, and your money would be accessible within one to two business days. You would not have to do anything; the FDIC handles the transfer automatically.

If your balance exceeds $250,000 in a single ownership category, only $250,000 is protected. The remainder is treated as a claim against the failed bank's assets and may recover some or none of that money depending on what the bank's liquidation yields. This is rare but possible with large balances.

Verifying EverBank's FDIC status yourself

You do not have to take anyone's word for EverBank's FDIC status. The FDIC maintains a public search tool called BankFind at fdic.gov/bankfind. Enter "EverBank" and your state, and the tool will show you the bank's official FDIC certificate number, the date it received its charter, and its current insurance status.

EverBank's legal name in the FDIC database is EB Financial Services, Inc. Searching under that name will pull up the official record. The certificate number is 35156. You can also call the FDIC's main line at 877-275-3342 to confirm coverage on your specific account if you have questions.

FDIC coverage does not apply to these EverBank products

EverBank offers some products that fall outside FDIC protection. If the bank sells you stocks, exchange-traded funds (ETFs), or mutual funds, those holdings are not insured by the FDIC. They are protected under different rules—typically by the Securities Investor Protection Corporation (SIPC) if the brokerage fails, but SIPC covers only the custody and handling of securities, not losses from market decline.

Structured notes and other complex investment products sold through EverBank also lack FDIC coverage. Before you buy anything beyond a standard deposit account at EverBank, ask explicitly whether it is FDIC insured. The bank is required to disclose this, but the distinction between deposit products and investment products is easy to miss.

What to do if your EverBank balance exceeds $250,000

If you have more than $250,000 to deposit and want full FDIC protection, you have two main options. You can open accounts at different FDIC-insured banks—each bank's $250,000 limit is separate. You can also use different ownership categories at EverBank itself: a joint account, an IRA, and an individual account would each carry $250,000 protection.

Some people use both strategies. You might keep $250,000 in your individual account at EverBank, $250,000 in a joint account at EverBank with your spouse, and another $250,000 at a different FDIC-insured bank. This way, all three amounts are fully protected.

The FDIC's official coverage calculator at fdic.gov can help you map out your protection across multiple accounts and banks. Enter your account structure, and it will show you exactly how much is covered and how much sits outside protection.

Frequently Asked Questions

Is my EverBank money market account FDIC insured?

Yes. Money market accounts at EverBank are deposit products and receive the same $250,000 FDIC protection as savings accounts and checking accounts. The rate may be higher than a savings account, but the insurance coverage is identical.

Are EverBank CDs FDIC insured?

Yes. Certificates of deposit at EverBank are FDIC insured up to $250,000 per CD. If you have multiple CDs at EverBank in your own name, they all count toward the single $250,000 limit for individual accounts.

What if I have $300,000 at EverBank in a single account?

The FDIC covers $250,000. The remaining $30,000 is not insured and would be at risk if the bank failed. To protect the full amount, you could move $50,000 to a different FDIC-insured bank, or open a joint account at EverBank with a family member and move $50,000 there.

Does EverBank's online-only model affect FDIC coverage?

No. FDIC insurance applies to all federally chartered banks regardless of whether they have physical branches. EverBank's lack of branches does not reduce your coverage or change how the FDIC would handle a failure.

Can I check my FDIC coverage amount at EverBank?

EverBank should disclose your coverage in account statements or online banking. You can also use the FDIC's coverage calculator at fdic.gov or call the FDIC at 877-275-3342 to confirm the exact amount covered on your specific accounts.