Overview

Where does State Farm Checking Account do business?

State Farm Checking Account is based in Bloomington, IL. It was founded in 1922 and offers checking accounts services in 50 states (and Washington, DC).

State Farm Checking Account is a member of the Federal Deposit Insurance Corporation (FDIC). The FDIC insures deposits in checking accounts, savings accounts, certificates of deposit (CDs), and money market accounts up to $250,000 per depositor if a member institution fails.

What APY does State Farm offer?

State Farm Checking Account offers an APY of .25% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $500.

What features and perks does State Farm Checking Account offer?

This account includes the following features:

• ATM reimbursement - This account will reimburse you for the ATM fees charged by other networks. Typically there is a limit to how much you can claim for these costs, so check the fine print if you plan to make multiple withdrawals within one month.
• Free Bill Pay - Bill Pay allows you to receive ebills directly to your account and pay bills easily from your account.
• Mobile Banking - State Farm Checking Account allows you to manage your money on the go without ever having to step in a brick-and-mortar bank. This includes depositing checks in your account with your smartphone.

What fees does State Farm Checking Account charge?

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

• Outgoing domestic bank transfers come with a $15 fee.
• Outoing international bank transfers come with a $35 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
• Incoming international bank transfers come with a $15 fee.
• State Farm Checking Account charges $5 every time you request a paper statement.
• Every returned deposit incurs in a $5 charge.