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State Farm Bank
Overall Satisfaction Rating
1.29/5
  • 5 stars
    4
  • 4 stars
    2
  • 3 stars
    0
  • 2 stars
    7
  • 1 stars
    86
Based on 99 ratings
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    State Farm Bank

    ConsumerAffairs Unaccredited Brand

    State Farm provides several different insurance products, including auto, home and renters insurance. State Farm is not a participant in the InsuraMatch and *ConsumerAffairs insurance program. With one simple phone call, you can contact InsuraMatch to get quotes for vehicle coverage from multiple providers.

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      State Farm Bank Reviews

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      Page 1 Reviews 1 - 10
      Rated with 4 stars
      Verified Reviewer
      Original review: Aug. 9, 2019

      Banking is backed up by a reputable company. They reflect what online banking is through the rest of the "pack" and I have been banking with them for about 7 years now, and they've always upgraded capability & kept security front and center.

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      Rated with 4 stars
      Verified Reviewer
      Original review: July 22, 2019

      State Farm has a large variety of financial resources. State Farm has more resources than most know. I've had State Farm Auto and Life Insurance since I was a teenager. My IRA is with State Farm. All my banking is done with State Farm Bank. I have RV insurance with them. Of course being an auto insurance company, they would offer auto loans with competitive rates. I would not overlook this financially stable company.

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      Rated with 5 stars
      Verified Reviewer
      Original review: July 17, 2019

      I was quite surprised to know my insurance company also offered auto loans. The loan was competitive and included GAP insurance without paying more. It wasn't needed, but good to know its included. I will use State Farm Financial on more purchases at a later date.

      3 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Oct. 1, 2019

      I applied for State Farm visa card on 5-21-2019 after receiving promotion in mail stating that I would receive 15000 bonus points after spending 1000 dollars on card within the first ninety days of having the card. I spent over 1200 dollars within 60 days. They refused to give me the statement credit. They said I had to spend 1500 dollars to qualify for 15000 bonus points unless I provided them with a copy of the offer. I didn't keep a copy of the offer. I did spend over 1500 dollars within the first ninety days from when I activated the card. They still refused to issue me the statement credit. They said that I had not spent the 1500 dollars. This a lie! I will be looking for a different card. I will also be looking for another insurance company that is not called State Farm! Sincerely Gregg

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      Rated with 1 star
      Verified Reviewer
      Original review: Sept. 28, 2019

      Received letter from State Farm Bank stating that if I didn't use my visa card by a certain date; that they were closing my account. I didn't use the card and ended up shredding the letter that they sent me. Next time I checked my credit report; they reported to the credit bureau that "I" closed the account. Of course I had destroyed the letter that they sent but somewhere in their records they should have been able to confirm their own action; and therefore I could not get the credit bureau to change the reason why the account and who really closed the account. State Farm should stick to insurance and leave the banking to other reputable people.

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      Rated with 1 star
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      Verified Reviewer
      Original review: Sept. 20, 2019

      After moving and changing my address online through State Farm's portal. They still managed to send my new card to my old address, which was returned due to 'non-deliverable'. Then, after I call them, change my address AGAIN, they said they would send the card. Two weeks later still no card. BUT, they did send me an address changed piece of mail. I called them again about my missing card. NOW 'someone' in the 'fraud' department wants to talk to me before they send another card and oh, by the way that department is closed for the next 3 days so basically I was told to go pound sand.

      Come Monday, I will be cancelling and closing my account. Every other major card company has a 24hr line that I can get my card. Nope, not State Farm. Steer clear for any banking needs. Insurance, they are decent...just not banking. -Side note, their 'hold' music is about 10x louder than anyone you will talk with, so if you get put on hold BEWARE! It may blow your eardrums, I know it gave me a migraine.

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      Rated with 1 star
      Verified Reviewer
      Original review: Aug. 29, 2019

      I don't have the time or space to explain the hours of phone conversations I had with a Customer Service Rep, A level 2 Person and a Supervisor. They cost me money by giving me misinformation and cost me the sale of my truck. They took responsibility for nothing except saying their rep gave me wrong information. Stay clear, they didn't earn their overall (*) star rating from everyone by being good. You are better off with nothing than anything from them. Worst experience ever!!!!

      6 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: Aug. 29, 2019

      We were in the process of buying a house in June of 2019 so I went in to discuss their home insurance. When the agent heard that we were buying a home he suggested that we get rates from State Farm Bank. I thought he was just going to contact the branch's agent and have him send me some general information to see if I would be interested, so I said sure and gave him our information (he already had most of it from the home insurance quote, like our SSNs, so nothing seemed out of the ordinary). But nope. Instead they ran mine and my husband's credit and preapproved us for a loan.

      We already had another bank that we were going with for our mortgage, and on top of that their rates were a whole percent higher than what the other bank was offering us. However now our credit scores have been lowered from their hard inquiry and we may not get as great a rate as we had previously. Also, they BOMBARD you with every form of communication you can think of. Emails, snail mail, phone calls, texting, leaving voicemails. Thanks State Farm. So glad I dodged that bullet

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      2 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: Aug. 7, 2019

      My son got a vehicle loan through State Farm Bank. We are insured with State Farm also, no issues there. My son was rear ended resulting in a huge repair for the truck. They reported it as a total loss, but DID NOT tell us that. they just gave it back to keep driving and paying for. Shortly after, my son enlisted in the Marines and left for 13 months. State Farm Bank said that in accordance with the servicemembers Civil Relief Act, his payments would be put on hold pending his return. I was assured that they would not report non-payments to any credit bureau, and he could resume payments upon his return.

      Last week when he came home, they told him they wanted $1200 a month for 30 months. We decided to try to trade out of this deal, but were informed that since the truck had been reported as a total loss, it was basically worthless. On top of that, they reported 13 missed payments to the credit bureau, which has destroyed his credit. We had the free gap insurance that should have paid for the truck when it was totaled, but clearly since State Farm owned the note and the policy, they protected their own interests and screwed over a young Marine. I will NEVER DO BUSINESS WITH STATE FARM BANK AGAIN.

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      7 people found this review helpful
      Rated with 2 stars
      Verified Reviewer
      Original review: May 30, 2019

      We've carried insurance with them for years and have been pleased with our local agents. The State Farm credit card is a different matter. We have not been satisfied with their customer service. A couple of years ago we made a hotel reservation using our card points and had so many problems when we arrived at the hotel that we never attempted that again. Recently I needed to get information on my online account and forgot my password. I never received the promised email, so I called to see what I needed to do.

      They would not talk to me since my husband's name is on the account, even though I have a card, do all the banking and had all the information that they needed. My husband got on the phone, and they asked him what our last balance was. When he turned to ask me, they told him that he could not get that information from anyone else. My husband promptly cancelled the card. Time for a new company.

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      3 people found this review helpful
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      State Farm Bank Company Information

      Company Name:
      State Farm
      Website:
      www.statefarm.com
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