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  State Farm Interest Checking

State Farm Interest Checking

in Checking Accounts from State Farm · Member fdic

Unaffiliated

State Farm Interest Checking

Unaffiliated

in Checking Accounts from State Farm · Member FDIC

Net Recommendation Score +100

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Highlights
Community Rating

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Monthly Fee $0 - $10
ATM Fee: Out-of-Network $0
Minimum Balance to Avoid Monthly Fee N/A
APY (Annual Percentage Yield) 0% - 0.10%

State Farm Interest Checking Review

State Farm Interest Checking is offered by State Farm, a financial services company founded in 1922 and based in Bloomington, IL. State Farm Interest Checking is available in 50 states (and Washington, DC).

Key Takeaways
  • Low APY. The maximum annual percentage yield for this account is only 0.10%.
  • Charges a monthly fee. This account charges a monthly maintenance fee of up to $10.
  • No minimum initial deposit. There is no minimum balance required to open an account.
  • No ATM fees. State Farm Interest Checking does not charge fees on ATM transactions.
  • ATM fee reimbursements. This account will reimburse you for the ATM fees charged by other financial institutions.
  • Free bill pay. Pay your bills to practically anyone in the United States through State Farm.
  • Hard credit pull. State Farm may require a hard pull on your credit report to open a checking account.
State Farm Interest Checking Pros & Cons
Pros Cons
  • Available in all 50 states.
  • Interest-yielding account.
  • Free debit card
  • No charge on incoming domestic wire transfers.
  • No signup bonus.
  • Higher than average wire transfer fees.
  • Monthly service charge.
State Farm Interest Checking FAQ

Are checking accounts from State Farm federally insured?

Yes, your State Farm checking accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What APY does State Farm Interest Checking offer?

State Farm Interest Checking offers an APY starting at 0% and ranging up to 0.10% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $2500.

State Farm Interest Checking Rates and Terms
Rates Amount
APY (Annual Percentage Yield) 0% - 0.10%

What are the account minimums for State Farm Interest Checking?

State Farm Interest Checking does not require a minimum initial deposit.

State Farm Interest Checking Account Minimums
Description Amount
Minimum Opening Deposit $0
APY Minimum Balance $2,500

What fees does State Farm Interest Checking charge?

This account charges a monthly maintenance fee of up to $10.

State Farm Interest Checking Fees
Description
ATM Fee: In-Network $0
Debit Card Replacement Fee $0
Early Account Closure $0
Foreign Transaction Fee (Debit Card) 3%
Monthly Fee $0 - $10
NSF Fee $25
Online Bill Pay Fee $0
Overdraft Item Fee $25
Overdraft Protection Fee (per transfer) $3
Paper Statement Fee $5
Returned Deposit Fee (Domestic) $10
Returned Deposit Fee (International) $10
Stop Payment Fee $25
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - Domestic (Outgoing) $15
Wire Transfer Fee - International (Incoming) $15
Wire Transfer Fee - International (Outgoing) $35
ATM Fee: Out-of-Network $0

What features and perks does State Farm Interest Checking offer?

This account includes the following features:

  • ATM reimbursement - This account will reimburse you for the ATM fees charged by other networks.
  • Fraud monitoring - State Farm Interest Checking monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
  • Free Bill Pay - Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - State Farm Interest Checking allows you to manage your money online. This includes depositing checks in your account with your smartphone.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

APY Minimum Balance $2,500
Minimum Opening Deposit Starting at $0
ATM Fee: In-Network $0
Debit Card Replacement Fee $0
Early Account Closure $0
Online Bill Pay Fee $0
Wire Transfer Fee - Domestic (Incoming) $0
ATM Fee: Out-of-Network $0
Foreign Transaction Fee (Debit Card) 3%
Monthly Fee $0 - $10
NSF Fee $25
Overdraft Item Fee $25
Overdraft Protection Fee (per transfer) $3
Paper Statement Fee $5
Returned Deposit Fee (Domestic) $10
Returned Deposit Fee (International) $10
Stop Payment Fee $25
Wire Transfer Fee - Domestic (Outgoing) $15
Wire Transfer Fee - International (Incoming) $15
Wire Transfer Fee - International (Outgoing) $35
Bank Account Features
  • ATM Reimbursement
  • Bauer Financial A+/A Rating
  • Debit Card
  • FDIC Member
  • Fraud Monitoring
  • Free Bill Pay
  • Interest Bearing Account
  • IRAs
  • Mobile Banking
  • Mobile Check Deposit
  • No ATM Fees
APY (Annual Percentage Yield) 0% - 0.10%

State Farm Interest Checking Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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