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.
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.