- Over 20 currencies available
- Choose from single currencies or currency groups
- Automatic purchase plan option2
- FDIC insured3
- IRA eligible
Yes. Your foreign currency accounts are deposit accounts of EverBank, N.A. that are insured by the FDIC up to standard limits. However, this does NOT mean that your principal is protected. Your funds will fluctuate in value relative to the U.S. dollar, and due to the nature and volatility of the foreign exchange market, the value may fluctuate widely. In the event EverBank, N.A. fails, the FDIC will insure you within standard limits based upon the value of your funds in U.S. dollars at an exchange rate determined by the FDIC.
The Customer Exchange Rate you receive from us will generally be within 1% of the available Wholesale Rate for your selected currency and will be determined at the time of the actual trade and not necessarily at the time of request, unless you request, and we agree, to lock-in your Customer Exchange Rate, which we may decline to do in our sole discretion. For more information on the Customer Exchange Rate, please see the Account Terms, Disclosures and Agreements Booklet or call the World Markets Trade Desk at 1-800-926-4922.
The exchange rates listed on our website are for research purposes only. Neither those rates nor any exchange rates published in any newspaper, website or other publicly available source accurately reflect the exchange rate that will be available to you through EverBank.
You may call our Trade Desk at 1-800-926-4922 to request a price to lock in your WorldCurrency account exchange rate. This service may not be available in all cases. Whenever possible, we will set an exchange rate at the time you call.
Note: The locked-in exchange rate you receive may be more or less favorable than what would have occurred with a non-locked exchange rate. Please see the Account Terms, Disclosures and Agreement Booklet for more information on the Lock-In Rate.
Yes. We offer Traditional, Roth, Simple and SEP IRAs.
Yes, you can, including principal, due to currency price fluctuations. Foreign currency denominated instruments entail significant risk exposure to adverse movements of the foreign currency relative to the U.S. dollar, so you should only deposit money that you can afford to risk, and as part of a broadly diversified strategy.
Information to keep in mind
Deposits denominated in foreign currencies are susceptible to losses and gains due to currency price fluctuations and may result in a loss of principal.
We reserve the right to terminate the Automatic Purchase Plan or your involvement in the Automatic Purchase Plan at any time, for any reason, including but not limited to overdrafts of your companion cash management account.
EverBank, N.A. is an FDIC-insured national banking association. The standard FDIC insurance limit of $250,000 applies per depositor, per insured depository institution for each account ownership category. FDIC insurance covers against loss due to the failure of the institution, but not due to fluctuations in currency values. Due to the nature and volatility of the foreign exchange market, the values of currencies are subject to wide fluctuations against the U.S. dollar. Foreign currency denominated instruments will entail significant risk exposure to adverse movements of the foreign currency relative to the U.S. dollar. The amount of deposit insurance available for products denominated in foreign currency will be determined and paid in the United States dollar equivalent of the foreign currency, as the value of such currency is determined by the FDIC under its regulations, on the institution's date of default. You can lose money, including principal, due to currency fluctuations. Please only deposit money that you can afford to risk, and as part of a broadly diversified strategy.
If you request funds in this account be denominated in a currency other than the currency you deposit with us, we will convert your currency using a Customer Exchange Rate that is within 1% of the Wholesale Rate for the selected foreign currency. The Wholesale Rate is a market price that we determine is available to us in the Wholesale Market for a specific Foreign Currency at a specific point in time. Exceptions may occur if we agree, in our sole discretion, to lock in your rate before the transaction. The Wholesale Rate is determined by us on a transaction-by-transaction basis and varies with the applicable wholesale trading market. Wholesale Rates are not published or publicly available. You are not obligated to conduct Currency Exchange transactions with us. For more information about our Exchange Rates, please see the Specific Terms - WorldCurrency® Deposit Accounts section in the Account Terms, Disclosures and Agreements Booklet.
