State Farm Bank Reviews

Worst and most unprofessional company I’ve ever dealt with and that’s saying a lot. I encouraged my son to consider them for his home mortgage and decided to give them a shot. I can’t express how deeply I regret asking! They can’t keep of with proof of home owner insurance as he’s had to provide that for now the 3rd time even though his insurance provider required acknowledgement of them receiving each time he sent it because of their ineptness to keep up with anything in his file.

I have cancelled polices after making payments, with them stating a text or email was sent and no email or text was ever sent. In December they told me I hadn’t paid a payment since October so I needed to pay September and November for the car insurance so I paid it, then they cancelled it because they said I didn’t pay 27$. In December I paid the house and the car then they said the same thing for the house that I was 2 months behind, I asked them why didn’t they tell me I was a month behind in November. Why did they wait till December to tell me?

I recently applied for and received a State Farm credit card. I was attracted to the favorable interest free period for balance transfers as well as the interest rate. The balance transfer process was exceedingly clumsy and involved a 45 minute phone call to transfer 2 balances. I had some misgivings about the process as at one point the agent I was working with said there was a double payment to one account showing and she had to get a supervisor to back it out. I checked my account a couple of days later and that duplicate transfer was still showing as pending. The only contact given for problems with an online notification-which I did. I received a letter yesterday saying that this was corrected and only the two original balance transfers would be put on my account.

Proceeded with refinancing procedure through State Farm in May 2019. After mountains of paper works submitted with 2 hard pull of me and my wife's credits with many paid offs my credit cards and 6 months later I decided that they were wasting my time. If you thinking of any types of loans through State Farm Bank, Please save yourselves the headache. I paid money for rate lock. I paid for your home estimator. I submitted mountains and mountains of paper works. Mind you I have to turned in almost every week to them within 6 months time frame. RUN AWAY FROM THIS MEDIOCRE COMPANY THAT IS TRYING TO GET INTO BANKING AND FAILED MISERABLY. Would not recommend this company to anyone!!!

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

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.

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.

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!!!!

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.

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.

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.

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.

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.

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.

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.

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.

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.)

I have a family member who is an agent and after 3 weeks and two applications and phone calls, my gf and I are going to use Wells Fargo for a shared expense account. What a struggle! Good thing their money market account rates are so good otherwise they should close this part of their business...

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.