I have been mroe than satisfied with my banking experience with State Farm Bank. Their online and mobile capabilities are innovative and make banking simple for me which is what I need. I get unlimited ATM reimbursements which is awesome, whereas my friends will go out of their way to find their bank's ATM to avoid ATM fees. Oh, and I don't have to keep a minimum balance either! State Farm Bank's free checking accounts truly are hassle-free, fee-free, and gimmick-free! Can you tell I love State Farm Bank?
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!
Very user friendly. No physical bank to go to, but never a problem. Phone app makes it very easy to deposit checks. Reimburse ATM fees at the end of the month. Very friendly and helpful customer service reps when I call in. Very quick and easy to do money transfers to other accounts.