I've had numerous accounts with multiple institutions. I've never seen a more poorly managed and stunningly inconsistent financial institution. I continue to receive conflicting information based on what part of the Bank I'm in contact with depending on the issue. For example, one part says the bank can't do this or that while other staff at the bank say my account is fine and they absolutely support this or that. I've actually got a form on my desk from one part of the bank requiring my signature while another part of the bank says I don't need to sign it and that everything is fine with my account.
Also, when using State Farm Bank's secure email system (required to do basic account functions), you have to give them an account number: the system isn't actually linked to the user! They also take an average of four days to respond to requests.
The nail in the coffin for State Farm Bank is the fact that they don't support Mint.com or Quicken. Yep, it's 2012 and State Farm Bank does not allow you to download transactions into Mint.com nor do they allow you to download transactions into Quicken (Express Web Connect or Direct Connect). What's amusing is that over the four weeks it took me to confirm this with State Farm Bank, their online support staff would say that it does, then they would get their terms wrong (not knowing the difference between "Direct Connect" and "Express Web Connect"), and then say that they don’t support Mint.com or Quicken at all.
Their telephone support agents are polite and cheerful. However, they can only do so much. The bank's back-office staff are poorly trained, uninformed, and (based on their very poorly written communication) stupid.
I can summarize State Farm Bank up in one word: incompetent.
I can not, and do not, recommend State Farm Bank for anyone. Look elsewhere for your banking needs. The benefits of ATM access are not worth the hassle and stunning incompetence that is State Farm Bank.
Back in 2007 I secured financing through State Farm Bank which my insurance agent recommended. After several times talking to state farm bank i told them that I wanted the due date of the loan for the last part of the month. When I received the paperwork they had the payment being due on the 13th of each month. after several phone calls to their customer service they told me that i had a 10 day grace period. With that being said, I made my payments every month on the 22 or 23rd through their automated system which they charged me additional 10.00 fee for using that system. Come to find out that if i Made the payment on the 23rd it was late. It was a 78.00 late fee. I made 18 payment on the 23rd. Their customer service was very rude, argumentative and just down right nasty. They will not release my title until i make additional 1400 payment. I am pulling all my insurances car, home and life and going elsewhere to be treated like a human being.
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.