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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

+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%, and you must keep a minimum balance of $2500.
  • Charges a monthly fee. This account charges a monthly maintenance fee of up to $10.
  • 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 (Annualized 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 Initial 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
Monthly Fee $0 - $10
Paper Statement Fee $5
ATM Fee: In-Network $0
ATM Fee: Out-of-Network $0
NSF Fee $25
Overdraft Protection Fee (per transfer) $3
Overdraft Item Fee $25
Early Account Closure $0
Returned Deposit Fee (Domestic) $10
Debit Card Replacement Fee $0
Bank Teller Fee N/A
Check Cashing Fee N/A
Online Bill Pay Fee $0
Stop Payment Fee $25
Check Image Service N/A
Check Copy N/A
Foreign Transaction Fee (Debit Card) 3%
Wire Transfer Fee - Domestic (Outgoing) $15
Wire Transfer Fee - International (Outgoing) $35
Wire Transfer Fee - International (Incoming) $15
Returned Deposit Fee (International) $10
Wire Transfer Fee - Domestic (Incoming) $0
ATM Reimbursement Monthly Limit N/A

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.
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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 Initial Deposit $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
  • No ATM Fees
  • IRAs
  • FDIC Member
  • Bauer Financial A+/A Rating
  • Debit Card
  • Free Bill Pay
  • Fraud Monitoring
  • Mobile Banking
  • ATM Reimbursement
  • Interest Bearing Account
  • Mobile Check Deposit
APY (Annual Percentage Yield) 0% - 0.10%

State Farm Interest Checking Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

+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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