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About the 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 Fees
- National Average
- Monthly Inactivity N/A $6
- Non-Sufficient Fund (Overdraft) $25 $30
- Stop Payment item $20 $27
- Return Deposit $10 $13
- Domestic Wire Transfer (Outbound) $15 $22
- Domestic Wire Transfer (Inbound) $0 $10
- Non-Bank ATM N/A $1.0
Latest Customer Reviews
Reviewed By hondo2wall Jan 8, 2018
Nightmare Online Loan Payment System
State Farm Bank Loan Payment System is the worst element of banking with State Farm. I have had 3 car loans through State Farm and their system login just keeps getting worse. Their login website link is not within Google. You cannot call State Farm 800# and get anyone to help you. They indicate you have to call State Farm Bank. Well, State Farm Bank isn't a part of the "Good Neighbor" system, therefore, they do not have Customer Service personnel anytime to assist you like the Insurance side of things. The insurance side of things customer service indicates "Oh, my hands are tied and I cannot assist. You will have to call State Farm Bank in the morning when they are in the office." This is your typical "Banker's Hours" and not there when you need service. Why isn't State Farm Bank Representative part of the Good Neighbor Program? Everything should be tied together (Insurance, Banking, etc...). How much of our policy payments, loan payments, etc...are paying for bloated systems AND ADMINISTRATORS that are allowing such a debacle at State Farm? The process should be 1 system. 1 Login, 1 payment system including Insurance and Bank Notes, etc...1 snapshot immediately of everything online that you have with State Farm...NOT MULTIPLE SYSTEMS! Northwestern Mutual, Bank of America, etc...have their systems with everything together and State Farm cannot? Poor, Poor, Poor State Farm!Thank you for your feedback Is this review helpful?
Reviewed By bigfoot21 Oct 31, 2017
Two thumbs down!
Applied for a visa card and was approved but never received the card. I called after a month went by and of course no one knew anything and I was transferred to several different customer service departments. When I finally was connected with someone in card services I was told that my card was mailed out but returned to them for reasons unknown. In order to get another card mailed to me I had to provide a copy of my drivers license and bank statement. I did and now a month later still no card. I checked my credit report and State Farm Bank shows that I had an account that was never used and it was closed. So 3 months after applying for a card....still NOTHING....I'M DONE. I have since went elsewhere and received a visa card within 3 weeks of applying. State Farm is very unorganized.Thank you for your feedback Is this review helpful?
Reviewed By northsider Dec 26, 2016
The check is in the mail - NOT!
If you are looking for a CREDIT CARD,
AVOID STATE FARM BANK.
Until recently I had a State Farm Visa card.
After a crappy experience with them this summer, I threw away the card. It is much easier to deal with the two other credit card companies I have accounts with.
I have always paid my bill on time and in full.
During the summer I did not receive my statement and I called State Farm. They would not give me a few more days to pay my bill (even though I never got my statement and the amount I owed was only about $25) So I had to give them my bank account number and let them grab money out of my bank account to pay my small bill and avoid late fees.
But the story does not end there.
State Farm owed me $138 in Loyalty Rewards and a month ago I attempted to get my $138. I wanted to pay my homeowners insurance with that $138, but State Farm would not let me do that. Also, they would not transfer the $138 to my bank account or mail me a check. All they would do is send me a Visa gift card, so I agreed to that - I had no choice. I was told the gift card would arrive in 12 business days. Well, it has been nearly a month, and no Visa card in the mail.
I'll never do business with State Farm Bank again.Thank you for your feedback Is this review helpful?