State Farm Bank Savings Account Review

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

Are savings accounts from State Farm federally insured?

Yes, your State Farm savings 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.

Does State Farm offer a signup bonus?

State Farm Savings accounts doesn't offer a signup bonus.

What is the minimum initial deposit for State Farm Savings accounts?

What APY does State Farm offer?

State Farm Savings accounts offers an APY starting at 0.1% and ranging up to 0.25% (APY stands for annual percentage yield, rates may change).

What fees does State Farm Savings accounts charge?

State Farm Savings accounts does not charge a monthly service fee. See the fee breakdown section below to view all fees.

However, you can waive the monthly fees if you have a minimum daily balance of $100.

• Outgoing domestic bank transfers come with a $15 fee.
• Outgoing 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.

What features and perks does State Farm Savings accounts offer?

This savings account includes the following features:

• ATM reimbursement - This account provides ATM access and will reimburse you for the ATM fees charged by other networks.
• Check images with monthly statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks for each statement period.
• Fraud monitoring - State Farm Savings accounts 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.
• Mobile Banking Services - State Farm Savings accounts allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
• Nationwide ATM network - Conveniently transact at a nearby ATM.

Can you set up a direct deposit to State Farm Savings accounts?

In most cases, the answer is yes. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for State Farm Savings accounts?

The customer support email for State Farm Savings accounts is support@statefarm.com.