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State Farm Bank
State Farm Bank
Overall Satisfaction Rating
3.48/5
  • 5 stars
    18
  • 4 stars
    25
  • 3 stars
    22
  • 2 stars
    6
  • 1 stars
    14
Based on 85 ratings submitted in the last year
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State Farm Bank

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111 State Farm Bank Consumer Reviews

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Page 1 Reviews 1 - 30
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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Rated with 1 star
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Verified Reviewer
Original review: May 3, 2019

I have a Money Market account and wanted to open a CD while the rate was good. I spoke to a representative on March 13, and she input everything and asked how I would prefer to receive the paperwork to sign. The ONLY options were Fax, Mail, or visit a State Farm agent's office. I chose Mail, and she said it would arrive in a week to 10 days. On April 1 nothing arrived so I called and the representative confirmed nothing had been sent (he had to speak with the New Accounts Team) but it will be sent out by mail. April 24 and still no paperwork. I called again and asked if the papers could be sent by other means such as encrypted pdf or through the State Farm Secure Email system (you would think this is the intended application) but they said NO. Only the 3 methods.

I then remembered I had an old computer printer that included FAX, so I got it it up and called again. The next rep. said he could process the FAX and I received a form to authorize an electronic transfer from the Money Market to the CD. I faxed the signed form back and verified (the next day) that it was received and the CD would be processed. Then on April 29, two more forms arrived in the Mail, a CD application and a Signature Card. These were what should have been sent in March. I completed both and faxed back the same day. Finally on May 2nd the CD was issued.

The takeaways are State Farm customer support in general and the New Accounts Team in particular do not seem to know what they are doing. Also, the company is stuck in the past by relying on antiquated FAX technology without considering the many secure options available these days for private document transmission. I am happy to have the CD set up, but will not put myself through this again. And may consider closing out the other accounts we have (Money Market, IRA, CD) when possible.

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Rated with 1 star
Verified Reviewer
Original review: April 16, 2019

Whenever I have problems with State Farm Bank, which is often, they never have solutions. I mail in paperwork to update my account information, they ignore it. Whenever an online purchase fails to go through, it's never their fault. Whenever I ask why small transactions won't process, they say that they clearly see I have the funds to purchase the object and nothing's wrong on their end so they don't see what the problem is, so I must have done something wrong.

When I'm standing in the grocery store unable to pay for $40 of groceries because they canceled a card which wasn't set to expire for five more months because they're sending me a new one (which I did not request) in the mail, they act surprised and offended that I have not received it yet and complain about having to reactivate my current, perfectly functional card for this one purchase and then redeactivated it immediately after. If it was once or twice, I could live with that, but they've proven themselves time and time again to be incapable of handling even basic interactions. No fee ATM withdrawal isn't worth this. Searching for a new bank ASAP.

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2 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 10, 2019

I called to confirm that they received my $100,000.00 IRA direct rollover. They did. I wanted help in getting signed on-line so I could confirm and print a document showing they received my funds. Couldn't get online access so they have to send it to the IT people. Then I asked her if she could email proof they received my funds. The answer was "NO". Although she emailed me an verification code, she won't email me anything showing that they have my $100,000.00. That is State Farm Bank! (FYI... My $100,000.00 was previously sent on 03/15/2019 and magically it went missing so I had to wait 10 days and start the process of filing the paperwork to get a check re-issued. I had tracking placed on the 2nd check to prove State Farm Bank received my money. One problem after another. Don't get me started on them leaving off the beneficiaries off of my documents and refusing to correct it.)

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

Looked for six hours for an email address or fax number to send the following letter to State Farm Bank or Royal Bank of Canada or Black Rock. Was on hold at different places for at least three hours and no one picked up. The agents I did contact could not give me a fax number or email address for State Farm Bank, Royal Bank of Canada or Black Rock complaint departments. Have a growing concern for my funds. On January 7, 2019, the online account information was not accessible again and the bank specialist were not available - was on hold for almost an hour.

To State Farm Bank, Royal Bank of Canada and Black Rock. January 6, 2019. State Farm and State Farm Bank has cost me around $5000.00. They deliberately ignored and disregarded important information and facts. They are guilty of objectual and technical ignorance. These are the mutual and money market funds I had with State Farm Bank before they moved them to Royal Bank of Canada and Black Rock. TRADITIONAL IRA: Money Market, LifePath 2020 Fund. INDIVIDUAL: LifePath 2020 Fund, Money Market, LifePath 2020 (B), Money Market (B). These accounts made it possible to move funds from the LifePath 2020 account to the Money Market account and redeem to the checking account. When there was a bear market, I moved my funds from the LifePath 2020 accounts to the money market accounts. Then as the bear market turned bullish, I would move my funds back.

I lost all of this flexibility when State Farm Bank moved my funds to Royal Bank of Canada and Black Rock Financial. I not only lost my trading flexibility, I lost all access to my money. All of the bank agents that I contacted told me to go through my local agent. When I talked to my local agent, she was not trained or legally registered to handle any of my requests. All she does is handle insurance. I not only lost flexibility of my accounts, I lost complete access.

Since State Farm Bank is a virtual financial institution, I am used to doing everything online. All of my fund tracking and maintenance are done online. I am 72 and disabled. When I couldn't even see how much money I had, it made me very physically sick. In 1999 I lost most of my MCIWorldCom retirement because of a Ponzi scheme and it all started by not being able to access the retirement funds. At this time the Dow Jones Industrial Average went from almost 27,000 to 22,000 points. I always moved my money from the LifePath 2020 to money market if the Dow dropped more than 1000 points. The move from one account to another was done overnight. This time the Dow dropped 5000 points and I lost a lot of money because all I could do was worry, get sick and cuss the guilty people.

When first approached by my local agent to sign the consent forms to transfer my funds from State Farm Bank to Black Rock, I was told that this transfer was for the better. She told me there would be better investment options and that I would not lose any of my present benefits. When the funds became visible online, it appeared the worse was over, even though all ability to move or redeem funds was lost. Had to go through local agent to access any funds. The local agent is not an investment broker. She is hard to find and has not been trained to do any transactions. Personally, I do not feel comfortable in letting her into my financial matters.

On January 4, 2019 things got worse when online access to my checking accounts was lost. I was not able to do an external transfer which I have done many times and funds arrive at external location the next day. Had to locate the local agent, who had taken the day off, and told her losing access to my funds was not acceptable and was costing me money, she got bank agents to call me to access my account and do the transfer by phone.

Talked to Kaitlyn first and she couldn't confirm me because I couldn't tell her the balance of my account or the amount of my last deposit. I couldn't access my online account, so I didn't know. Asked her to get her boss. Kaitlyn got a bank specialist, called John, who appeared bothered that I asked for him. He got my information and said he would move the funds. On January 5, 2019, the transfer showed the funds taken out of my account, but it did not get to the external location. Lost a deal of around $2500 profit. Have lost all confidence on online banking and on the virtual States Farm Bank.

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2 people found this review helpful
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Rated with 1 star
Verified Reviewer
Original review: Dec. 20, 2018

I recently bought a new vehicle and financed with the manufacturer credit provider to get an extra $1,500 discount. After the first payment, I began the process to re-finance with State Farm since I have had State Farm auto and home insurance since I first got a driver's license. What a mistake! Not only did I not get the "best rate" quoted on their website with a credit score over 800 and 1/3 the cost of the vehicle paid down, due to State Farm's back-office incompetency, the loan did not fund for two weeks after I applied. I wound up having to make a second payment on the first loan so as to not be delinquent and then wait for a refund check.

Then, State Farm Bank had the gall to start charging me interest from the day I applied rather than the date they funded the loan. Nowhere is this disclosed in any of the documents relating to the loan. It probably doesn't matter because it's most likely illegal. If you have ever obtained a State Farm Bank loan you should carefully examine the details of how they apply your payments. It is very possible that State Farm Bank is charging you more interest than allowed by law. I plan to seek out an attorney to file a class-action lawsuit against SFB for this egregious behavior. Needless to say, State Farm will soon no longer insure anything I own.

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8 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Dec. 17, 2018

Updated on 03/27/2019: Long story short this has experience is actually as bad as dealing with Xfinity; which was rated the worst company in America. Not only did it take 4 weeks to resolve an issue for simply logging into a new account, but then I did not have access to my account, which then took another few weeks to resolve.

However, this was only the beginning. All I wanted to do was find a deposit sharing ATM to deposit cold cash into this checking account. I live close to Wrigley Field in Chicago. Now mind you Chicago is one of the largest cities in the world. Guess what....not one single ATM to make a deposit. When I contacted State Farm I was actually told to purchase a money order and mail it in to them for deposit!!!! I honestly thought they were joking. Of course I could fund from my BofA account but I think they charge me $3.00 for an external ACH transfer. Bottom line it appears as if depositing money into a State Farm checking account will cost you money. I almost feel like they are nothing more than a next level prepaid debit card service.

I honestly have no idea how they still offer banking. Customer service is basically useless as they must submit a ticket to get anything done and that take days if not weeks to resolve. And the app which I was told would find me a deposit sharing ATM was worthless. It took me to two PNC bank ATMs all of which did not offer cash deposits? I mean if they don't offer ATMs in Chicago I can only wonder where on earth are these magical ATMs. I not only would not recommend State Farm bank but I it has turned me off to any of their other products. I don't mind futility but it seems they are actively trying to sabotage ease of banking. Not sure why they even offer this horrendous product.

Original Review: To summarize I opened an online checking account with State Farm. At first I was unable to even log in and this took close to 10 days to fix. So once I was able to log into my account I clicked on my account and this is the message I have now received going on 10 days... "We apologize! Our online deposit account application is not available at this time. We are working on a solution and the application should be up and running soon. For immediate needs, please contact us at 1-877-SF4-BANK (1-877-734-2265)."

When I click on transfer funds this is what it says. "We apologize! Our online deposit account application is not available at this time. We are working on a solution and the application should be up and running soon. For immediate needs, please contact us at 1-877-SF4-BANK (1-877-734-2265)." So in my near month long time being with State Farm I have had to call in close to 10 times and still do not have a truly functioning checking account. This is not my only checking account but if it were I would be in trouble. They do not have branches and this is a virtual bank so if online services are not working what are customers to do? On top of that I could not believe this issue is not resolved in over a week? I can't believe they have one customer who puts up with this.

On a positive note the debit card they sent did work and I was able to access the money in the account using an ATM. They supposedly reimburse fees for ATM usage but your account cannot be closed within the same month of those fees or they will not reimburse you so for now I have to keep my account open even though after this experience I will never recommend such an unreliable service.

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3 people found this review helpful
Customer increased Rating by 4 stars!
Verified Reviewer
Resolution response: Dec. 12, 2018

Perhaps I should have been more patient but finally the situation was resolved. I will definitely update with how their overall banking platform is but I please that they corrected the issue. Given the holidays I can understand the delay.

Original review: Dec. 12, 2018

So I had opened up a checking account online and that was easy. I received my debit card and PIN in the mail. However when trying to create an online profile I kept receiving an error message. This is when the futility of this virtual bank shined. Over the course of 2 weeks I called 8 times and was assured that a support ticket was created and would be reviewed. Often I would be placed on hold with no one ever coming back to the call. The fact that it could take this long for a simple log in issue is scary. Imagine if you have a real problem like fraud or identity theft. They are not ready to do banking.

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Rated with 1 star
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Verified Reviewer
Original review: Nov. 30, 2018

These guys should stick to insurance and leave credit to companies that know what they are doing. After putting an unnecessary hold on my card and not bothering to try and contact me, it took me 5 weeks to get someone from their fraud dept to speak to me. I called twice a week for 5 weeks! Left messages, talked to supervisors... all assuring me the fraud dept would call me back the next day. They would confirm they had received the document requested for verification but no one would take the hold off. Finally 5 weeks later I got lucky and spoke to Jim in the fraud dept. He claimed they never got a doc - although the supervisors said their dept had noted it had been received. I probably wasted 10 hrs on the phone over 5 weeks with these guys. Worst customer service ever. Jim would not give me his last name - threw me loads of attitude - then closed my account. Thank god I am rid of State Farm.

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 4, 2018

In an attempt to be diligent in protecting card security, I called while traveling to card services. I provided full name, address, social security number. I did not know card # -- card was lost. They asked me a security question. I did not know the answer. I provided State Farm agent name, limit, balance, card last used, email address, home phone, cell phone. They would not agree to block the card as they claim they could not verify my identity. 1/2 hour on the phone for the most frustrating experience. They need to review the process... Protect the account and consumer first. Worry about reissue of card at a later time. Very poor customer service. No wonder we have so much loss and expense due to fraud. I have filed a complaint with the bank as well as other consumer agencies.

7 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Oct. 12, 2018

I was 2 going on 3 months behind due to job issues. I paid $1100 dollars before the deadline. I gave everything I had. Due to becoming a full-time employee no longer working through temp service now I get paid bi-weekly. They pick up my car for $75 after I paid 1100 dollars. In order to get the car back in my possession I need to pay the late fee of 25 dollars plus the $75 car payment plus a $475 dollars towing fee plus a 150 dollar administrator fee adding the fee total 740 dollars. But wait the towing company charging me an extra $300 dollar for getting my car back in my possession. In which I had to drive an hour there. A hour of waiting to have my car release. To a company that has a lot but no office building. My car is not secure. Behind a old gate with one rusty chain.

To let the towing man tell it State Farm was already trying to send it to auction within 36 hour that they had it. I guess not looking at GA repossessing law. What I don’t understand is... “like a good neighbor State Farm is there.” Well State Farm wasn’t there for me in fact $75 dollar cost me $1100. It’s sad to say cause I have two vehicles Finance to State Farm plus both of them I have State Farm full Coverage insurance, two life insurance policies and I’ll top of that home mortgage Insurance. They lost a customer of 5 yrs.

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12 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Oct. 9, 2018

Since I've started this account, there have been nothing but fees for things that are normally free with other banks. Transfer fees and foreign transaction fees are especially painful. Most banks don't charge these things anymore. The final straw was this weekend. I deposited a check to cover some automatic drafts that were coming through. It was approved and then the items came through - and were all rejected.

I called the rep and she said, "Well, this is a holiday weekend and so no money was moved yesterday." Oh, okay, but yet you were rejecting drafts left and right when you have a check pending on the account. On a side note: the check was approved and normally would have cleared the next day. The day I deposited it was not a holiday. I don't give a crap if it's after 2pm. Most people make deposits after 5pm on Friday. Most banks will hold all items if there is a payment pending on the account. Not State Farm.

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6 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Sept. 30, 2018

One problem after another and it is never State Farm Bank at fault. Unexplained fees on statement, unreceived payments blamed on USPS, 15 days to get from DE. to GA. not likely. How long in your mailbox? Goodbye State Farm Bank. Shabbyest c.c. Co. I have ever dealt with.

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 18, 2018

I have been with State Farm insurance for 12+ years and have always recommended them to anyone looking for an insurance company. When I bought my first brand new car, my agent suggested that I finance it through their bank. Worst mistake of my life. When there was some hardship in my family last year, I missed a payment. I called a couple months ago to rectify the situation and was given the option to add the payment to the end of the loan. Awesome! Seemed simple enough. They were to mail me a form, I would fill it out and send it back with a check for the interest and was informed to make sure the money was not in the account so when they tried to take the payment, it would be for the current month and not the missed payment.

Well the form came too late, the money was not in the account as requested and now I am behind 2 months of payments. State Farm has proceeded to call me so much that I have been forced to block them. They now have started calling my work even though I am actively putting whatever I can towards the account on a monthly basis. I understand that I am the one who missed one payment ($364) but the terrible customer service and downright harassment from this division of the company has made me rethink them as a whole. I will never refer anyone to them for insurance ever again. And honestly, I might refinance my auto loan with another company just to end the harassment sooner.

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10 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 11, 2018

Opened account two weeks ago and no one can help me login. I called to close account. They wanted account number to transfer funds back to me, I don't think so. Why would I trust you with my bank account and you cant even help me login to your own bank website? Stay with insurance, everyone cannot do everything.

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 27, 2018

An automatic charge of $5 went on my State Farm Credit card. I was not aware of it. The statements got lost in my email. After about 3 months, I received a letter from State Farm that my account was closed and I owe $102.72. I was going out of town and I paid the full amount of $102.72 without calling State Farm. State Farm owed me $53.68 in reward points. When my insurance bill came in I tried to access the reward points and found it was 0. I called State Farm and was told that it was forfeited. I, therefore, paid State Farm $150 fees for $5. Why couldn't State Farm use the $53.68 to cover the $5 that was owed? I had State Farm insurance on home and car since 1985. It looks like it is time for me to fire State Farm Insurance.

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 21, 2018

I have been with State Farm for 47 years and State Farm Bank for 18. No problems till Feb 5, 2018 when I tried to make a payment by phone. A lady took my debit card number and she was not supposed to. By the end of that month they suspended my card and I called again and the lady took my checking account number and routing number from my personal check and said she had all the info she needed. I had two verification numbers from both calls. March rolls around and I find out they haven't received a payment from my bank. A letter was sent March so I called again and once again they copied the information needed from my personal check.

Later I find out that they copied all the information wrong on their end because a supervisor told me they had 3 sets of wrong numbers that did not match my checking account. I go to my State Farm Insurance Agent and they called about the matter. My agent gave them the info needed from my personal checking account and 2 days later they got their money. But that did not stop them from putting me on a credit file and reducing my credit score! I have paid my car insurance and Visa on time for many years and they do this to an old customer. And yes, I disputed the matter by letter and they told me it was my fault. Not theirs. But who copies the information by phone? If I knew what my next option was I go to an attorney and sue.

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5 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 8, 2018

Today (04/07/2018) I try to log in to my online account. I log in every day due to this bank is not located in my state. So I have to do all my baking online. When I try to log in it said that my password was incorrect. I recheck my password and again it told me that was incorrect. So, I try the "I forgot my password". I try changing my password and it told me that there was a technical error. To call 877-734-2265. The rep stated to me that back in September last year they couldn't make an ID when I called so they lock my account. I told the lady that I didn't call. She said that she can't do anything that I need it to go to a State Farm office and have them ID Me. I told her they don't have a bank here. This is why I do all my banking on the internet.

She said that I could go to a State Farm insurance to have them ID me, by showing ID card and they will call to confirmed. I told her that my account could be hack and I have to wait till Monday. I told her that by then I wouldn't have anything in my account. She kept apologizing. I told her that her apologies will not help me get access to my account. Who in the world lock my account back in September and why I wasn't told about it? Why I was able to get to my account yesterday and I can't now? Now I can't get to my account at all, because my car is down and I can't get to a state farm agent office. Please whoever is reading this... DON'T BANK WITH STATE FARM.

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11 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 26, 2018

I withdrew money from my Roth IRA on Tuesday, March 20th. I asked what the fastest way to get it as I knew my bank account was in bad shape if I didn't get that check by Friday. The woman I spoke with said the could FedEx the check for an additional $15, which I relented to. She said I would get the check at the latest on Friday, BECAUSE IT WAS BEING FEDEXED. Friday came and went with no check. So Saturday, I get something from State Farm, which I thought was just a statement, but turns out it was the check from my Roth IRA. I looked and saw on the statement that yes, I was charged for the $15, yet it came through standard mail in a regular State Farm envelope, NOT IN A FEDEX envelope. I tried to deposit said check via mobile deposit to my bank.

I knew my bank account was already in trouble and was already in the negative, but I was just happy I finally got the check. Not only did it not go through, I was charged a $30 fee for a returned check. So I called my bank and because whoever printed it out also included ROTH IRA in between my name and address, my bank would not accept the check unless I set up a ROTH IRA with that bank. So as of just know when I check my bank account, it's negative -$481.

I called at 11 am to talk to someone about this. Linda, the woman I spoke with, was kind at first, but that facade quickly faded. She argued with me that the check really was FedExed (I have a photo of the State Farm regular envelope it showed up in) and that it wasn't their fault that my bank account is negative. She said they could re-send a check that would not have ROTH IRA in pay to the order line, but it would take a couple days. I told her I needed that money immediately sent to bank account. She said that I would have to fax a voided check.

The whole reason I'm having to take money from my retirement is because I'm bed-ridden, due to vertigo and I don't have any sick days. She rudely told me she would call me back in a hour. 3 hours later, I still haven't gotten a call. In fact I called her back and whoever I spoke with said she was on the phone and would call me right back. I have no money right now. Actually it's worse because I'm in the hole -$481 because of you guys. I've been a customer for 20 years. This is not ok. PLEASE DO YOUR FREAKING JOB and get me my money in my bank account.

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9 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Feb. 16, 2018

I asked for a credit line increase and was turned down, (my scores are 760 to 780). I was told that State Farm has their own scoring system called Horizon (not sure if I have that correct), my score with them is 623. Asked if I could review it, was told no. I said there must be an error on the report. In a polite way I was told nothing could be done. That should not be allowed. I have had my auto and homeowners ins, with them for over 40 yrs.

17 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Feb. 9, 2018

There has not been much, if any, good experiences I’ve had with this bank. The app is constantly down, their ATMs where you can deposit are never working and when you call to tell them that, they don’t seem to care at all. The customer service is beyond horrible. Whoever you talk to just seems like they want to transfer you elsewhere. I had a car loan payment withdrawn from my account two months in a row and the car has been sold for over a year. Not sure how that even happens. The supervisor that I spoke to hung up on me when I told him his bank was horrible. Just not a great place to bank. When I told the customer service agent I wanted to close my account all she told me was, "Ok, just stop using the account and thank you." It was just a normal occurrence for someone to want out with them.

6 people found this review helpful
Rated with 1 star
Verified Reviewer Verified Buyer
Original review: Feb. 7, 2018

Due to some medical reasons I found myself in default with an auto loan. I called State Farm and was making arrangements to pay full balance off. First off they are extremely rude and treat you like you've committed a capital crime, even though I'm calling to pay them with my bank ATM over the phone. They want cash money deposited into Western Union, mind you we live in a part of town that you are not gonna walk around with 100 dollars in your pocket let alone $4000.00 dollars. I don't understand in this day and age of technology why a multi-million dollar company is not willing to take an ATM payment. I am gonna pay off my loan and do not ever want to have to do business with State Farm again. I'm canceling my insurance with them as well and will be telling anyone and everyone of my experience.

20 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Jan. 9, 2018

After paying off a motorcycle loan I had with State Farm Bank I inquired about a new loan for a newer motorcycle with fewer miles. Since my original loan my credit score has drastically improved. Improper collection reporting has been corrected. No late payments. I was assured by the bank my past loan wouldn’t be taken into account when applying for a new loan.

Well the terms that were clearly stated in print were changed in the banks counteroffer. Counteroffer? Yes a counteroffer by the bank. The amount requested was after I got the dealer to come down in the asking price by 2,000 and now the bank wants me to put down 1;600 to get the motorcycle. This is more than I was required to put down on the first loan with bad credit. I would avoid using this bank for a legitimate loan. Too shady and deceptive. They clearly stated at first a 2013 vehicle could be financed for 72 months. Well, that changed to 60 months. My credit is good enough to get a new motorcycle with no down payment.

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12 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 18, 2017

This company can preapprove for a mortgage, give you a list of info they want and after you pay their “vendor fee”, ask for more information that gets a little personal. We didn’t like how the processes were going and backed out after the appraisal. Just got a letter in the mail saying we “didn’t have sufficient funds to continue”. No we thought you were beyond dumb in your process. I have bought 8 houses through different lenders and State Farm is by far the worst. I will not even let them keep our car insurance after this. They should give up on financial and stick to insurance.

20 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Oct. 5, 2017

From the time I cancelled my Homeowners Insurance when they tried to double the rates on me, they have been trying to scam me. They cannot give a TRUE principal balance on my house because they can't give a correct Amortization, they add in "house inspection fees," do NOT credit payments, give escrow amounts then change them, issue Escrow checks then deduct them back, issue new statements showing past due amounts before they credit the monthly payments to make them look like they are not being paid, decide they are not taking payments and send them back to try to Foreclose.

NOW they have called my Homeowners Ins. Co and told them my house is vacant and being foreclosed on, so that my Homeowners is threatening to cancel us. Furthermore the Homeowners Insurance came out of my Escrow that they have. There MUST be a way to sue this crooked company for the stress, lies, unethical practices that are going on here, I have one Federal Judgement already that they did not abide by from last year!!!

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12 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 17, 2017

I had an auto loan from State Farm Bank. They kept messing up. One month they forgot to pull the auto payment, then they were pulling too little. Each time they messed up, I paid the price in late fees. Then, on May 24th they automatically withdrew my payment, as normal. On June 1st they pulled it again, 23 days early, and overdrafted my account. They held me responsible and closed my checking account. In July I had a total loss of my vehicle. My insurance handled its portion and Payment Protector handled all but a few hundred. While shopping for replacement vehicle, my credit score mysteriously dropped. I finally found out that State Farm Bank listed my account as "consumer deceased". Now I am about to lose my home, all credit cards, flossing out on finishing school, and losing my job. I identify as a deceased person anywhere I go. I may be alive, but State Farm Bank killed my identity.

24 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 27, 2017

Opened a loan with State Farm Bank 12 mos ago. Biggest rip-off ever. Paid 1500 extra towards principal and they applied it to interest only - 3 phone calls to try to fix but without a true explanation. Was told there was nothing they could do - like a good neighbor stay over there.

18 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 9, 2017

They give you a grace period of 10 days so if you pay on a Saturday and it says you pay on a Saturday but yet they charge you a late fee. Also I have 2 payments left on my car and NEVER asked for a payoff then they have the nerve after I just paid taxes. Mind you with two payments left they will turn me over to collections. Haha. Don't threaten me when you are charging people late payments and they pay it on time. That fraud. So my advice is do not get this bank or insurance. They are horrible. The customer service girl's name was Dana. So rude...

22 people found this review helpful
Rated with 1 star
profile pic of the author
Original review: April 22, 2017

State Farm Bank repossessed my car for missing 2 payments 3 yrs. ago. After I paid the car off now I have to pay $3000 in fees to get it back. No one got in touch with me to let me know about these payments or I would have sent them off asap. STATE FARM BANK treat their customer should very poorly.

18 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 20, 2017

I opened an auto policy for two of my vehicles and noticed that State Farm had banking services. I applied for a checking account online and when filling out the application, I entered my physical address and there was a message that popped up that stated my address was invalid and instructed me to input a valid address. I entered my address repeatedly. Finally I opted to use my daughter in law's address but used my mailing address when prompted to enter a mailing address. I figured it's a valid mailing address so I will receive mail through my post office box number. I would then go into a State Farm Office and correct the address to mine. I opened the account with 50.00. I also received a statement confirming the balance in the account was 50.00.

Well they mailed a debit card and pin to my daughter in law's address and nothing to my mailbox. I specified that I had a mailing address that they just ignored. When I received the card I went online and activated the card with all prompts and it was confirmed that the card was ready for use. I went into a merchant's store tried to use the card for a 19.00 purchase and it declined. I called the customer service and they said I need to verify my address. I had an automobile registration for one of my cars with my physical address and my DL that had my mailing address on it and went into my local State Farm office and my agent verified and sent in the copies to verify my address. When I called to find out if it was verified, the customer service agent told me that I needed to have my social security card and a written letter as to what my address was sent in.

So I went back into State Farm and had my agent fax that over, then I called again to see if it was verified. They told me that it still wasn't and that I needed to send in one more piece of mail with my physical address on it, or utility bill. My utilities are included in my rent and everyone that I do business with that needs to send me mail uses my P.O. Box number. This is ridiculous and I should have never ever opened this account. I asked if that was the last thing they needed and then I asked when after they receive this will I be able to use my account. They told me that they are backed up and it will take several business days to release the hold on my account. I opened this account on the 1st of April and I received the ATM card a week later. They took almost a month and my going to State Farm three times on three different days and are unable to service my account because they are backed up?

Probably because they are looking for more information to learn how to run a successful banking business. I am closing this account after I retrieve my fifty dollars. These people need to stick to auto insurance. I'm not too happy with Jake at State Farm, he's got no business talking to anyone that late at night anyways. DO NOT OPEN ANY BANKING SERVICES With STATE FARM, you'll regret it!

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13 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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