EverBank Expands Foreign Currency Options for Investors

EverBank, an FDIC-insured bank based in Jacksonville, Florida, has added new content to their site which offers more detailed coverage of the economies of the countries for which they offer foreign currency investments. EverBank has been providing an online platform to find information on foreign currency and open up foreign-denominated bank accounts for more than a year now. The EverBank program allows customer to open single-currency or multi-currency money market and CD accounts. Investments in the foreign-denominated accounts are subject to the appreciation or depreciation of the underlying currency compared to the US dollar. Accounts are not FDIC-insured against currency losses. As of late (with the US dollar in decline) investors in the EverBank products could potentially earn more than the stated rate on their bank deposit product if they converted their foreign-denominated investment back to US dollars. EverBank provides useful information on the various deposit rates and the economic conditions of a number of countries for investors to review before opening any foreign-denominated account. The new reporting on EverBank’ site includes coverage of the:

Australian dollar

Brazilian real

British pound

Canadian dollar

Czech koruna

Danish krone

Euro

Hong Kong dollar

Icelandic krona

Indian rupee

Japanese yen

Mexican peso

New Zealand dollar

Norwegian krone

Singapore dollar

South African rand

Swedish krona

Swiss franc

and a page with an overview of all the foreign currencies