A MyBankTracker Rating

State Farm Bank

About State Farm Bank

State Farm Bank, F.S.B. received formal approval for a thrift charter from the Office of Thrift Supervision (OTS) in November 1998 and is generally referred to as State Farm Bank. Its focus is on consumer-oriented financial products, complementing State Farm's insurance focus on personal lines. State Farm Bank is a nontraditional financial institution and does not have branch offices. The bulk of direct customer interaction and product assistance is provided by State Farm agents.

State Farm Bank logo

MyBankTracker rated based on the following criteria that includes real customer reviews and bank fees, among others. Our bank report card is a proprietary rating system that highlights the financial health and stability of the bank. See how it’s rated.

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Customer Reviews

Most Helpful State Farm Bank Bank Customer Reviews

  • 1P
    Reviewed By 10paces p. May 20, 2014

    Don't buy or give State Farm gift cards

    I was given a $50 State Farm gift card as a a gift. Wonderful. I was saving it for an emergency. I finally decided to use it and needed to call in to activate the card. No big deal. The automated system tells me my gift card has declined in value to only $7.50. What! I called and explained to them that I wasn't aware that the card declines in value $2.50/mo if not used within the first 12 mos. There is a conveniently placed activation sticker covering the "fine print" on the back of the card detailing the charges. I spoke to a rep who did nothing, his supervisor declined to reinstate any monthly maintenance fees and a SF review board also denied my request to even get a month or 2 of the fees put back on the card. Had I known the card would lose value, I would have used it right away. I feel the placement of the sticker covering the charges is placed there on purpose so you aren't aware of the fees. I was extremely disappointed that after being a SF policyholder for 30 years, that they wouldn't reinstate a month or 2 of fees. I am in the process of moving all my policies to another ins agency.

    I checked other gift cards like Buffalo Wild Wings, Flat Top Grill and TGI Fridays and none of those cards lose value.

    Be careful. Know the terms and know State Farm doesn't care!

    Thank you for your feedback Is this review helpful?
  • JT
    Reviewed By Jerry t. Oct 5, 2013

    Traveling and lockouts

    My account has been locked two months in a row due to unusual spending pattern while traveling.

    Now customer service tells me that a phone call prior to spending as I travel could still result in a lock out.

    I am going to check with a bank official for clarification before I take every dollar out and discontinue my two direct deposits.

    Thank you for your feedback Is this review helpful?
  • D
    Reviewed By dave s Jul 31, 2015

    Worst customer service in the US

    Financed 2 new cars with them. They cant be less helpful trying to get info just to pay them. I called and told them I didn't know my acct #. They asked ss, then address, then phone 3, then if any of these cars in 15 years me or any of my family owned, then who did we buy our house from 30 years ago. After I answered all those correct he brought out another page to verify. Keep in mind I only wanted to pay them!

    Thank you for your feedback Is this review helpful?

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  • Type Fee National Average
  • Monthly Inactivity N/A
  • Non-Sufficient Fund (Overdraft) N/A 0
  • Stop Payment item N/A 0
  • Return Deposit N/A 0
  • Domestic Wire Transfer (Outbound) N/A 0
  • Domestic Wire Transfer (Inbound) N/A 0
  • Non-Bank ATM N/A