Overall Rating

B
Grade

State Farm Bank Report Card

Overall rating score 59%
Customer Rating
Financial Health
Bank Fees
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State Farm Bank Customer Review

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garlandk77's Profile Image

5 out of 5 marks

Reviewed by garlandk77

Nov 13th 2011

Excellent free checking with interest, free bill pay, free debit and ATM cards, and unlimited ATM fee refunds.

State Farm Bank is an online-only bank that offers checking and savings accounts. The web site is clean, uncluttered, and easy to use. Customer service by phone has been efficient and friendly although it's not available 24 hours (no late night hours).

I only have the checking account, which has a great collection of features. Unlike some other banks, to get these features you DO NOT need to use your debit card a certain number of times each month.

Checking account:

-- No monthly fee if balance is over $500.

-- A competitive interest rate is paid on entire checking balance if over $2500 (click on the "Rates" tab above for current rate).

-- Free online bill paying that is very easy to use.

-- Your first order of 50 paper checks is free.

-- Option of getting monthly statements by mail or online.

-- Free online transfer of funds to and from accounts with other banks or financial institutions.

Two ways to deposit checks:

-- By mail.

-- State Farm is one of the few banks offering an "At Home Deposit" program. You endorse the check, then make an image of both sides of the check (using a scanner, iPhone, or Android cell phone), then send the image to the bank using an easy-to-use online process. No need to send the original check.

ATM and Debit cards:

-- No card fees.

-- Refunds 100% of ATM fees anywhere in the world with no monthly limit provided that you have at least one direct deposit each month.

-- No foreign transaction fee when withdrawing money from ATMs outside the U.S.

-- In addition to a standard debit card that can be used for purchases with or without a PIN, State Farm is the only online bank I could find that offers the option of an ATM card that requires a PIN for all purchases or ATM withdrawals. An PIN-only card can be useful if you prefer to avoid the potential problems that can occur if a standard debit card is lost and someone uses it to make purchases against your checking account.

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Other State Farm Bank Reviews

JOEJOE's Profile Image

Reviewed by JOEJOE

Mar 5th 2014

1 out of 5 marks

WORST BANK EVER DELT WITH

** BEWARE** : IN MY OPINION THIS IS THE WORST BANK ANYONE COULD EVER CHOOSE TO DO BUSINESS WITH !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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csbarbosa's Profile Image

Reviewed by csbarbosa

Feb 13th 2014

2 out of 5 marks

Worst Customer Service ever

I deposited 2 checks via the mobile deposit and the system denied one as a "duplicate." the checks were from the same bank, but different amounts and different check numbers. I called them the same day, but they were having technical difficulties with the system that approves the deposits. I was instructed to call the next day. Well, I did call back !! The representative was useless. she indicated that the department that approves the deposits had gone home already and I had to call again the next day. I asked for the supervisor and she asked me if I wanted to speak to a Banking Specialist - a representative that can do more than her and knows more. Well, imagine that !! The Specialist suggested I deposit the check again instead of calling a third time. I guess my time is not valuable to SF Bank since thy just expect me to call back everyday to keep their employes working everyday. I will NEVER do any more business with this bank ever again.

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