Here you'll find answers to questions about our bank products.
Need help with everyday account tasks? Please visit our Managing My Account page.


General Questions

General Information

  • What is State Farm's privacy policy?

    Our Privacy Policy is available here.

  • How do I update my personal information?

    If you use online banking, you can sign in and change your information online. Or, to change your information another way, contact us.

  • Do I need to notify State Farm Bank if my name or marital status changes?

    Yes, we need a copy of the recorded legal document that reflects the change. For the proper mailing address, please reference our Contact page.

  • Am I liable for unauthorized purchases posted to my account?

    Your liability is limited if the unauthorized charges are reported to us promptly. Additional details can be found on the State Farm Bank Disclosures page or on our Managing My Account page.

  • What is abandoned or unclaimed property?

    Abandoned or unclaimed property refers to property such as a deposit account, prepaid card, or financial instrument (such as an outstanding bank issued cashier's check), in which there is an outstanding balance and the financial institution has not had contact with the owner for a certain period of time. Contact is defined as customer-initiated activity like a deposit, withdrawal, ATM balance inquiry, or account maintenance.

    State law establishes the length of time property is considered to be abandoned if there has not been customer contact. This time frame may differ from state to state. If property remains unclaimed or abandoned, it will become the property of the customer's state of residence.

  • What should I do if I receive a letter saying I have unclaimed or abandoned property?

    State Farm Bank tries to contact customers through a letter called a due diligence letter. This letter advises the customer they have property (such as a deposit account, a prepaid card, or a cashier's check) with State Farm Bank that could be considered by state law to be abandoned. It also provides a description of the property and lists ways to contact the Bank to prevent it from being transferred to the customer's state of residence. If property is transferred to the state, it is held under the customer's name.

    In this letter are options for customers to contact the Bank in order to prevent their property from being transferred to the state. These include:

    • Contacting State Farm Bank by the date listed in your letter
      or
    • Initiating activity on the account (for example, making a deposit/ withdrawal, initiating an ATM balance inquiry, or performing account maintenance.

    Any of the above actions will prevent the property from being transferred to the customer's state of residence.

Communicating With Us

Online and Mobile Security

  • How does State Farm Bank keep my information secure while banking online or when I'm using my debit card?

    Your personal information is protected by a sophisticated array of layered security controls working together to secure the online banking environment against threats. These security controls include:

    • A secure network that is protected by multiple firewalls and other security devices
    • Data encryption and secure messaging to help protect the confidentiality of your information when it is stored within our network and sent across the network

    Electronic funds transfers (EFT) include purchases made at a point of sale terminal or ATM using your debit card, and authorized account-to-account transfers made through the Internet, on the phone, or by other electronic methods. Some of the protections that we provide include:

    • Limits on liability for unauthorized purchases
    • Access controls like online passwords and PIN numbers to protect against unauthorized use of your account
    • Alerts to help you identify unauthorized use of your accounts
    • Statements and reports to help you identify unauthorized transactions

    There are many ways that you can help ensure a safe online banking experience. Some common suggestions include:

    • Install anti-virus software, and enable a personal firewall
    • Make sure to use the most recent version of your web browser
    • Change your password periodically and do not share it with anyone
    • Do not install software from unknown or suspicious sources
    • Avoid online banking while connected to public wireless networks

    For more information on online security, visit our Purchases and Online Security article or our Security Information & Alerts page.

  • Is it safe to bank using my mobile device?

    Mobile banking with State Farm is safe. Our mobile environment is protected by some of the same layered security controls as our online environment. Additionally, you can help protect yourself while banking on a mobile device with the following suggestions:

    • Set the screen lock and password on your mobile phone
    • Never disclose personal information in a text message
    • Change your online password if your mobile phone is lost or stolen
    • Install anti-virus software on your mobile device if possible
    • Don't root or jailbreak your phone, and only install software from trusted sources
    • Delete text messages from financial institutions that you no longer need
    • Sign off or close the mobile banking application or browser when not in use

  • How can I protect my personal financial information while using social media sites?

    You should avoid sharing personal financial information on social media sites. State Farm cannot service the accounts you have with us through social media sites, therefore, we will not ask for your personal information through this channel. We also suggest the following to help ensure a safe experience:

    • Only use trusted social media sites
    • Use a different online banking user ID and password than other online accounts
    • Do not post personal information to social media sites
    • Use privacy settings to restrict the individuals that can view your information
    • Verify that a friend request to join your network came from the person you know before granting the request

  • How do I identify fraudulent communications, online fraud, and suspicious activity?

    Malicious communications can be sent through e-mail, text messaging, social media, phone calls, and fake web sites. Usually, the communication has an urgent call to action and a request that you provide some personal information that is later used to compromise your account or steal your identity. For example, a fraudulent e-mail may indicate that your account will be closed if you don't contact the sender at once and provide your password and answers to your security questions to verify your identity. Some additional characteristics of malicious communication include:

    • Phishing or hoax e-mails
    • Contains an urgent call to action
    • Awkward greetings, bad grammar, or misspellings
    • Links that lead to unknown websites
    • Unknown or unexpected attachments
    • SMIShing or hoax text messages
    • Requests to provide your personal banking information
    • Calls from unknown or blocked numbers that request your personal information

    For more information on avoiding fraud and phishing, visit our Avoid E-mail Fraud And Phishing article or our Security Information & Alerts page.

  • Is my State Farm Bank chat session secure?

    State Farm uses Secure Sockets Layer (SSL) technology to provide encrypted, secure communication during chat sessions.

    Chats will be limited to general product information, application assistance, and navigation. For your own security, we ask that you not provide credit card numbers, social security numbers, security questions, passwords or account numbers during chat sessions. If a credit card number, social security number or account number is entered, the number will be masked in the chat session.

    For more information, please read our Privacy Policy.

  • Why do you record my chat session? Can I get a copy?

    Our conversations are saved in order to ensure the best possible customer experience. We may review these conversations with our representatives to ensure they have the right training to assist you with your needs.

    You can save, print, or request an e-mail copy of your chat transcript at any time during your chat session. We also maintain a copy of your chat session on file and can send you a copy after your chat session is complete.

  • Will my chat session time out?

    Chat sessions will time out if there is inactivity for a twenty-minute period. If this occurs, you'll need to start a new chat session.

Protecting My Identity

  • What is identity theft and how do criminals steal my identity?

    Identity theft occurs when criminals obtain your personal information and open unauthorized accounts in your name. They may use these unauthorized accounts to commit additional fraud, launder money, support other criminal enterprises, or take out loans to obtain cash. Some common ways that criminals obtain information to steal your identity include:

    • Physical theft of wallets, purses, mail, statements, card offers, checks, and tax information
    • Phishing which involves fake E-mails requesting that you provide personal information
    • Changing your address to redirect statements and new cards to their location
    • Unsolicited phone calls that trick you into revealing your personal information
    • Skimming, which involves copying your credit card number when it is out of your control
    • Dumpster diving, which involves looking for information in your trash

    Learn more about identity theft here.

  • How can I protect myself against identity theft?

    Protecting your personal information and regularly monitoring your credit report are the best ways to prevent and contain the damage caused by identity theft. Your name, social security number, date of birth, address, online password, and account numbers are all personal information that can be used by criminals to steal your identity. We also recommend the following:

    • Do not send your Social Security number, account number, or online password through e-mail
    • Change your online password at least twice a year
    • Encrypt electronic documents and secure physical documents that contain personal information
    • Shred unneeded credit card offers, statements and other documents that contain personal information
    • Do not leave your computer or mobile phone unattended
    • Do not bank or conduct personal business on public computers or hotspots
    • Do not carry your Social Security card in your wallet
    • Do not provide your personal information to unsolicited callers

    Learn more about identity theft here.

  • How can I tell if my identity has been stolen?

    Monitoring your credit report is the best way to determine if your identity has been stolen. Each of the three major credit reporting agencies provides a free annual credit report that you can use to identify any unknown accounts that may indicate that identity theft has occurred. There are also commercial providers that will regularly monitor your credit report and provide alerts on a subscription basis. Some other indications of identity theft include:

    • Mail or other notices on accounts for which you did not apply
    • Missing bills and statements
    • Unknown changes to your address, password, or other bank profile information
    • Calls from debt collectors

  • When might State Farm contact me and request my account logins or other personal information in an unsolicited communication?

    A State Farm representative may call you if we have difficulty executing a request that you have made or have other concerns with your account. During these calls, we may ask you to verify your identity to ensure we are speaking to the right person. We will never ask you to provide your account number, social security number, or online password during an unsolicited call. We will also never send unsolicited requests for your personal banking information through e-mail, text message, or social media sites. If you think you've received an unsolicited State Farm Bank communication, please call us toll free at 1-877-SF4-BANK (1-877-734-2265).

    Click here to learn more about Identity Theft and how to prevent it.

Reporting A Problem

  • What should I do if my State Farm Bank debit or credit card is lost or stolen?

    • For debit cards, call us immediately, toll free, at 1-877-SF4-BANK (1-877-734-2265). If you are outside the United States, call us collect at 1-309-994-6170
    • For credit cards, call us toll free at 1-877-SF4-VISA (1-877-734-8472). If you are outside the United States, call us collect at 1-706-644-0852.

    When you report your card lost or stolen, we will cancel the card and send a new card to all authorized cardholders within 7 to 10 business days.

    For more information, please visit Report a Lost or Stolen Card on the Managing My Account page.

  • Who do I notify if I think my identity has been stolen?

    If you believe that you are the victim of identity theft, please take action immediately to minimize the damage to your credit. We recommend that you do the following:

    • Contact State Farm Bank toll-free at 1-877-SF4-BANK (1-877-734-2265)
    • File a complaint with the Federal Trade Commission identity theft hotline toll-free at 1-877-IDTHEFT (1-877-438-4338)
    • File a report with your local police precinct so that you can request a fraud alert be placed on your credit report
    • Request a fraud alert with the three major credit bureaus:
    • Equifax 1-800-525-6285
    • Experian 1-888-397-3742
    • Trans Union 1-800-680-7289

    To notify the companies and institutions holding the fraudulent accounts that your identity has been stolen, complete the Identity Theft Affidavit. This form allows you to notify the company or institution of an account that was opened or used fraudulently as a result of identity theft. It will also certify that you did not create or authorize the activity to help minimize or eliminate your financial responsibility.

  • How do I report fraudulent charges posted to my account?

    Call us immediately at 1-877-SF4-BANK (1-877-734-2265) or 1-877-SF4-VISA (1-877-734-8472) for credit cards (More Contact options). When you report fraudulent transactions, we will cancel your card and send a new card to all authorized cardholders within 7 to 10 business days.

  • How do I dispute a charge?

    For credit cards:

    You can dispute a charge by selecting the channel that is most convenient for you.

    You can access your account online by logging on to statefarm.com. After clicking on the credit card link on the MyAccounts page, select the Account Maintenance tab at the top of the page. Under the Self-Service heading, click the Dispute Transaction link. This will allow you to select the transaction(s) in question and provide details surrounding the dispute.

    You can also call us toll free 24 hours a day, 7 days week 1-877-SF4-VISA (1-877-SF4-8472)

    Or, you can write us at the address below to dispute a charge:

    • State Farm Bank
      P.O. Box 84062
      Columbus, GA 31908-4062
    • If you're sending a letter, please give us the following information or complete the Declaration of Fraud form.You can locate this form by accessing your account online. Once you are logged on, select the Account Maintenance tab and then click on the Declaration of Fraud link. This form will require you to provide the following information:
    • Your name and account number
    • The dollar amount of the suspected error

    Describe the error and explain why you believe there is an error.

    For debit cards:

    Contact State Farm Bank toll-free at 1-877-SF4-BANK (1-877-734-2265) or for international calls, you can contact us by dialing the International Direct Dialing (IDD) prefix for the country you're calling from and then dialing 1-309-994-6170.

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Checking and Savings

General Information

  • What is State Farm Bank's routing number?

    Our routing number is 071174431.

  • What information do I need to apply for a State Farm Bank account?

    A valid U.S. address is required to open a State Farm Bank account. If you have multiple residences, as long as one is inside the U.S., you can open a State Farm Bank account. Date of birth and social security number for each applicant are also required.

    You can use a Matricula Consular card or an Individual Taxpayer Identification Number (ITIN) card as a secondary form of identification for opening deposit accounts including checking, savings, Money Market Savings, and fixed rate certificates of deposit (CDs). The only secondary form of identification accepted when applying for other types of State Farm Bank deposit accounts, credit cards, or loans is an ITIN card. An application for an account eligible to be opened with an alternative form of identification must be completed in a participating State Farm agent's office.

    You do not need to be a policyholder of State Farm Insurance to open a State Farm Bank account.

    There are several ways to open an account with State Farm Bank. Visit our Products page and click on the kind of account you want to open to find out more.

  • How do I change my debit card's personal identification number (PIN)?

    To change your PIN, please call us toll free at 1-877-SF4-BANK (1-877-734-2265).

  • What should I do if my State Farm Bank debit card is lost or stolen?

    Call us toll free at 1-877-SF4-BANK (1-877-734-2265). If you are outside the United States, call us collect at 1-309-994-6170.

    When you report your card lost or stolen, we will cancel the card and send a new card to all authorized cardholders within 7 to 10 business days.

    For more information, please visit Report a Lost or Stolen Card on the Managing My Account page.

Using My Account

  • How do I make a deposit?

    There are multiple ways you can make a deposit. Please see How To Make a Deposit.

    Our bank-trained agents' offices are not bank branches and, therefore, not equipped to accept deposits. They'll be happy to supply you with pre-addressed, postage-paid envelopes for your deposits.

  • What is direct deposit?

    Direct deposit is a quick, easy, and secure method of electronically directing deposits such as your paycheck, governmental benefits, and investment dividends into your bank account.

  • How do I set up direct deposit?

    Visit our Managing My Account page for information on how to set up direct deposit for your account. Generally, it takes two pay periods to establish a direct deposit with an employer.

    Electronic direct deposits, once established, will be available on the effective date of the deposit. You can verify your direct deposit set up or transfer by reviewing your online bank account or calling us toll free at 1-877-SF4-BANK (1-877-734-2265).

    For direct deposits for Social Security, Supplemental Security Income (SSI), or other government benefit (non-payroll) payments, please use Go Direct® for easy and convenient sign-up.

Making Payments and Transfers

  • How do automatic payments work?

    Automatic payment is a convenient way of paying various types of bills, such as telephone, electric, credit card, and insurance, electronically. You provide the names and account information of billers whom you wish to pay, authorize the payment amount, and direct any payment instructions.

    Setting up an automatic payment is simple. To begin, visit our Managing My Account page.

    You may schedule a one-time future payment up to 364 days in advance.

  • How can I get more information on bill payment?

    For more information on scheduling payments, making recurring payments, and how long it takes for a vendor to receive your payment, please visit our Managing My Account page.

  • Which accounts can I use to pay bills?

    Checking, interest checking, and money market accounts are the only type of accounts you can use to pay bills.

  • When will my eBills begin?

    This varies from biller to biller. Generally, it may take up to two billing cycles, or thirty to sixty days, to establish an automatic payment. While your automatic payment feature is being activated, please plan any interim payments accordingly as it is your responsibility to keep your accounts current.

  • Will my bill payment be sent electronically, or as a check?

    We have relationships with thousands of businesses, and many payments can be made electronically. When making an online bill payment, the “smart calendar” clearly indicates which payees can accept electronic payments. If the “send on” and “deliver by” dates are within two business days, the payment will be made electronically. If the dates are five to seven business days apart, a paper check will be mailed.

  • How soon are my funds available after a transfer?

    Your funds' availability depends on the method of transfer.

    • Funds transferred via the Internet between State Farm Bank deposit accounts are available for immediate use.
    • Funds from pre-authorized electronic transfers of government payroll or benefit payments, such as Social Security, will be made available on the payment date.
    • Funds from other wire transfers to your account can generally be withdrawn from your account on the same day we receive the wire transfer. In rare cases, the funds may not be available until the business day following the day the wire transfer is received.
    • For transfers you request through your external financial institutions, the funds will be available the next business day after the day of the deposit (e.g., if the scheduled transfer date is Tuesday, Wednesday is the day of the deposit, and the funds are available on Thursday).
    • If you create an electronic transfer from your State Farm Bank account whereby you transfer funds from an external account to your State Farm Bank account, these funds may not be made available until the 11th business day after the day of your deposit.

    If we are not going to make all of the funds from your deposit available on the first business day after the day of your deposit, we'll mail you a notice the first business day after we receive your deposit and tell you when the funds will be available.

    Contact State Farm Bank for other transfer options, or refer to the Transferred Funds Availability Schedule.

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Credit Cards

General Information

Maintaining My Account

  • Where do I send my payments if I'm paying by check?

    You can find the addresses for credit card payments on our Contact page.

  • How do I dispute a charge?

    You can dispute a charge by selecting the channel that is most convenient for you.

    You can access your account online by logging on to statefarm.com. After clicking on the credit card link on the MyAccounts page, select the Account Maintenance tab at the top of the page. Under the Self-Service heading, click the Dispute Transaction link. This will allow you to select the transaction(s) in question and provide details surrounding the dispute.

    You can also call us toll free 24 hours a day, 7 days week 1-877-SF4-VISA (1-877-SF4-8472)

    Or, you can write us at the address below to dispute a charge:

    • State Farm Bank
      P.O. Box 84062
      Columbus, GA 31908-4062
    • If you're sending a letter, please give us the following information or complete the Declaration of Fraud form.You can locate this form by accessing your account online. Once you are logged on, select the Account Maintenance tab and then click on the Declaration of Fraud link. This form will require you to provide the following information:
    • Your name and account number
    • The dollar amount of the suspected error
    • Describe the error and explain why you believe there is an error

  • Why don't I see all of my credit card transactions listed in the online account summary?

    Your online account summary will show transactions made in the past 520 days, or from the time your account became web-enabled. Transactions made before your account was web-enabled, or more than 520 days ago, will not appear.

  • Can I download my credit card information to my financial software?

    Yes, you can download your credit card information to popular financial software programs like Microsoft Money® and Quicken®.

Protecting My Account

  • How can I find out more about the State Farm Bank Credit Protection Program?

    For information on enrollment, covered events, coverage costs and program cancellation, please visit the Credit Protection Summary.

    The State Farm Bank Credit Protection Program is not insurance. It is a service that will cancel the minimum payment due on the account under certain circumstances. State Farm Bank is regulated by the Office of Thrift Supervision, not by state insurance regulators.

  • How do I activate coverage benefits for the Credit Protection Program, and what happens then?

    Your eligibility for benefits begins 30 days after your enrollment date.

    To apply for benefit activation, you must call our State Farm Bank Credit Protection Program Administrator at 1-866-490-9838 or write to State Farm Bank, c/o Benefit Activation Department, P.O. Box 977122, Miami, FL 33197-7122. Once you apply for benefits, we'll send a written verification form and a checklist of the evidence you must provide for the covered event.

    In the event that you activate coverage, the credit limit on the account will be reduced to a maximum available credit of $1,000.00. If the available credit at the time of activation is less than $1,000.00, that amount will be the amount of available credit.

    At least 30 days must pass between the date of a covered event and a new covered event. If two or more covered events occur within 30 days of each other, benefits will be administered under the covered event that occurred first.

  • Can I be denied Credit Protection Program benefits?

    You will be denied benefits if:

    • The covered event occurred prior to your enrollment in the program
    • You cancel program enrollment prior to notifying us of a covered event
    • You fail to notify us of the covered event within 180 days of the date of the covered event
    • You fail to provide reasonably requested evidence within 30 days of the date of our request
    • Your account is two payments past due on the day we review your request to activate coverage
    • You do not meet all criteria detailed in the terms and conditions

    For more information, please see our Credit Protection Eligibility & Requirements page.

State Farm Dollars

  • What are State Farm Dollars, and how do I earn them?

    You will automatically earn State Farm Dollars for every purchase you make with your State Farm® Rewards Visa®, State Farm Crystal Rewards® Visa Signature®, or State Farm Bank® Business Visa® credit card. Currently, these are the only State Farm Bank credit card products that earn State Farm Dollars.

    There is no limit to the number of State Farm Dollars you can earn in a year. You can apply your rewards to the State Farm products of your choice. For more information on rewards for specific cards, visit the credit card page.

  • How can I redeem my State Farm Dollars?

    Once you've earned 50 State Farm Dollars or more, you can apply them directly to State Farm products by using your account on statefarm.com.

    Once you are logged in, just locate your Credit Card and click on Redeem State Farm Dollars. All of your State Farm products that are web enabled will pre populate and you can choose where your State Farm Dollars will be applied.

    State Farm Dollars expire after three years. If you have questions, you can call us toll free at 1-877-SF4-VISA (1-877-734-8472).

  • How long do I have to decide what to do with my State Farm Dollars check?

    You must use your State Farm Dollars check within 120 days from the date it was issued.

  • Can I bring my State Farm Dollars check to my State Farm agent's office to pay my insurance premiums?

    Yes. Your agent will be glad to help you take advantage of this option.

  • Why is my State Farm Dollars check payable to State Farm?

    Your State Farm Dollars check is payable to State Farm to make it easy and convenient for you to apply your rewards to the State Farm product of your choice. Simply enclose your State Farm Dollars check when you make your insurance premium payments, loan payments, investment, or deposit.

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Home Mortgages

General Information

  • What is the difference between a fixed rate mortgage and an adjustable rate mortgage (ARM)?

    A fixed rate mortgage is a loan for which the interest rate does not change during the entire term of the loan. With this type of mortgage, your monthly payments for principal and interest never change. With an ARM, the interest rate may periodically adjust on the basis of changes in a specified index. ARM loans may allow you to buy a more expensive home because the interest rate is usually lower than a fixed rate mortgage; however, they carry a degree of uncertainty, since rates may go up in the future.

    The right type of mortgage for you depends on many factors, including:

    • Your current financial picture
    • How you expect your finances to change
    • How long you intend to keep your house
    • How comfortable you are with your mortgage payment changing from time to time
    • How much risk you're willing to take

  • What is an appraisal?

    An appraisal is a report made by a certified appraiser who provides a professional opinion or estimate of property value. When you apply for a mortgage loan with State Farm Bank, we will initiate the process to get an appraisal ordered.

  • What is a jumbo loan?

    A jumbo loan is a mortgage that exceeds the maximum loan amount established by the Federal National Mortgage Association (FNMA), commonly referred to as Fannie Mae, and the Federal Home Loan Mortgage Corporation (FHLMC), commonly referred to as Freddie Mac. Jumbo loans are also referred to as “non-conforming” loans.

  • What are “conforming” and “non-conforming” loans?

    A “conforming” loan meets loan limits as established by the Federal National Mortgage Association (FNMA), commonly referred to as Fannie Mae, and the Federal Home Loan Mortgage Corporation (FHLMC), commonly referred to as Freddie Mac. “Non-conforming” loans or “jumbo” mortgages exceed these limits.

  • What are “conforming – high balance” loans?

    The Housing and Economic Recovery Act of 2008 has allowed Fannie Mae to implement higher conforming loan limits for high-cost areas. High-balance loans are subject to high-cost area loan limits set annually by the Federal Housing Finance Agency (FHFA). State Farm Bank does not offer High Balance Loans.

  • What is a convertible mortgage?

    A convertible mortgage allows a borrower to convert from an adjustable rate mortgage (ARM) to a fixed rate mortgage during specified time periods. A conversion fee and certain conditions usually apply. Not all ARMs are convertible. State Farm Bank does not offer convertible ARM mortgages.

  • What are discount points and how are they calculated?

    Discount points are a one-time charge (or credit) by the lender. Each point is equal to one percent of the principal loan amount and can be paid to buy down the applicable interest rate. If you choose to pay points, they are typically paid at the time of closing. Discount points may be negotiated in the purchase contract to be paid by either the seller or borrower. If you have questions, please call us toll free at 1-877-SF4-BANK (1-877-734-2265) to speak with a mortgage professional.

Applying for a Mortgage

  • Can I apply for a loan before I have a home to purchase?

    Yes, this process is called a “pre-approval.” You can provide the required documentation to verify income, debts, and assets prior to your purchase. Once we obtain a credit report, we can make a credit-only loan decision. Since the property to be purchased is typically not known at the time of pre-approval, we use an estimated sales price and loan amount to make a decision.

  • What information do I need to apply for a home loan?

    In all mortgage applications, State Farm Bank will ask for information regarding your employment, income, assets, debts, and the prospective property you intend to purchase. Other information may be needed depending on your situation. For more information, please see our Application Checklist.

  • How important is my credit when I'm applying for a loan?

    Your credit is an important consideration in our decision making process. Late payments or other adverse information contained in your credit report will receive additional review during the underwriting of your loan application, and may require further written explanation or documentation from you as we consider your loan request.

  • Who do I contact once my loan is in process, and how can I update my application?

    Once you submit your application, we will contact you to give you the name and contact information for the mortgage consultant who will be processing your loan.

    To update your application or ask a question about the process, please call us toll free at 1-877-SF4-BANK (1-877-734-2265).

  • When can I lock in my interest rate?

    Typically, you can lock your interest rate after:

    • submitting your application
    • signing your initial disclosures
    • paying the vendor fee
    • providing a copy of your Purchase Agreement or Sales Contract (if applicable)

    We offer a wide range of lock-in periods, depending on your needs. If you don't lock your rate at application, you must lock no less than five business days prior to closing.

  • What are closing costs?

    Closing costs cover all the fees and expenses associated with a loan transaction. Closing costs may include fees for an appraisal, credit report, title insurance, survey, and points. Closing costs vary depending on the loan product and the fees that are customary in your area.

Paying My Mortgage

  • Can I access my home mortgage online?

    Yes, you can access your mortgage account and make your mortgage payment with no fees! To enroll your mortgage loan online:

    • Simply go to the Enable Bank Account link within the My Account dropdown list once you've logged into your other State Farm Account(s)
    • Add your account number and your state
    • Log out and back in again to view your mortgage account

  • How do I remit my payments?

    You can set up an automatic draft of your monthly mortgage payment from your checking or savings account. There is no charge for this service and your payment will never be late. Forms are available by calling us toll free at 1-877-SF4-BANK (1-877-734-2265).

    You can also mail each payment in the envelope provided with the statement. If you do not receive your mortgage billing statement 10 to 14 days prior to the due date of your payment, please call us toll free at 1-877-SF4-BANK (1-877-734-2265). If you don't have a coupon, simply write your account number directly on the check. Please mail your check to:

    Payments Only –
    Regular Mail    		 Payments Only –
    Overnight Mail    		 General Correspondence
    State Farm Bank
    P.O. Box 986
    Newark, NJ 07184-0597    		 State Farm Bank
    425 Phillips Boulevard
    Ewing, NJ 08618    		 State Farm Bank
    P.O. Box 77404
    Ewing, NJ 08628

  • When is my payment due?

    Most monthly payments are due on or before the first of each month, but please refer to your mortgage note for the exact due date. Payments are posted on the date of receipt, not on the postmark date, so remember to allow five to seven days for mailing. The payment due date that appears on your mortgage note cannot be changed.

  • Can I make additional principal payments?

    Extra principal payments can be made in any dollar amount with your regularly monthly payment, unless otherwise stated in your mortgage documentation. If you are making an extra principal payment, please indicate how additional funds should be applied in the “Payment Distribution” box on your mortgage billing statement coupon. Remember that making additional principal payments will reduce your outstanding balance and shorten the term of your fixed rate loan; however, it will not reduce the regular principal and interest portion of your payment.

  • Will my mortgage payments change?

    It's possible. The principal and interest portion of a fixed rate loan will not change. If you have an adjustable rate mortgage, the principal and interest portion may change as outlined in your mortgage. If the principal and interest portion of your payment changes, you will receive a letter notifying you of your new payment amount.

    If you have an escrow account for the payment of real estate taxes, mortgage insurance premiums, and any other items related to your mortgage loan, the amount you pay in escrow might need to change, and so will your monthly payment. As your mortgage contract states, monthly escrow payments must be one-twelfth of your annual escrow amount. If there's any change to your escrow payment, you will receive an Annual Escrow Account Disclosure statement.

  • How do I obtain a payoff statement?

    We can mail you a payoff statement if you call us toll free at 1-877-SF4-BANK (1-877-734-2265). You can also request a payoff statement by faxing us at 1-609-538-4005 or sending a written request to:

    • State Farm Bank
      P.O. Box 77404
      Ewing, NJ 08628
      Fax: 1-609-538-4005

Taxes on My Mortgage

Insuring My Mortgage

  • What is Private Mortgage Insurance (PMI) and do I have to have it?

    Private Mortgage Insurance (PMI) is insurance provided by non-government companies that protects mortgage lenders against loss in the event of default by the borrower. Typically, PMI is required if your down payment is less than 20 percent of the purchase price.

    Although certain mortgages require PMI for the life of the loan, you may be able to obtain a waiver. The holder of your mortgage note will determine the conditions for cancellation of the PMI at the time of your written request. The mortgage note holder may consider factors including, but not necessarily limited to: loan-to-value ratio, appraised value of the property, occupancy status, payment record, and length of time since loan was closed.

    When your conventional insured loan is paid in full, we will automatically send a termination notice to the private mortgage insurer. They will determine if a mortgage insurance refund is due and for what amount. Any refund due will be mailed directly to you from the private mortgage insurer. Please allow several weeks for processing.

  • What is title insurance and why do I need it?

    Title insurance protects the lender (lender's policy) and the homeowner (homeowner's policy) against loss resulting from disputes over ownership of the property.

  • What is the minimum allowable insurance coverage, and what is the maximum allowable insurance deductible?

    The minimum coverage amount must be sufficient to cover the loan balance and 100 percent of the insurable value as determined by your insurance carrier. The maximum deductible for homeowners and flood insurance is 5% of the face amount of the policy. If you are required to have flood insurance, the deductible is $5,000 maximum for single family, $25,000 for a condominium association policy.

  • Is flood insurance required for my property?

    Federal law mandates that we perform a flood search on your property at the time of closing and that we monitor flood map changes for the life of the loan.

    If your dwelling is located in a Special Flood Hazard Area, Zone A or V, as determined by the Federal Emergency Management Association (FEMA), we require a flood policy. We will maintain an escrow account for the payment of flood insurance premiums if your loan is required to escrow taxes or homeowners insurance.

  • What is the process for getting assistance with my homeowner's claim check (loss draft)?

    If your home has been damaged and you have filed an insurance claim, you can get assistance with the process, including instructions on disbursing your funds. The process may vary depending on the loss. Please call the Loss Draft Hotline at 1-866-826-4860 for further information.

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Home Equity

General Information

Applying for a Home Equity Product

  • What information do I need to apply for a home equity product?

    State Farm Bank will ask for information regarding your employment, income and property. Other information may be needed depending on your situation. Click here for more information about applying for a home equity product.

  • How important is my credit when I'm applying for a loan?

    Your credit is an important consideration in our decision making process. Late payments or other adverse information contained in your credit report will receive additional review during the underwriting of your loan application, and may require further written explanation or documentation from you as we consider your loan request.

Paying my Home Equity Product

  • How do I remit my payments?

    You can set up an automatic draft of your monthly home equity payment from your checking or savings account. There is no charge for this service and your payment will never be late. Forms are available by calling us toll free at 1-877-SF4-BANK (1-877-734-2265). You can also mail each payment to the appropriate address.

  • How do I set up automatic payments?

    Contact State Farm Bank to request the automatic payment form by calling 1-877-SF4-BANK (1-877-734-2265).

  • When is my payment due?

    Payment due dates vary, please refer to your home equity loan agreement for your specific due date.

  • Can I make additional principal payments?

    Conveniently make a principal only payment on your home equity loan or line of credit by instantly transferring funds from another State Farm Bank account. Extra principal payments can be made with your regular monthly payments. Please refer to your home equity agreement regarding any applicable pre-payment and/or early closure fees.

  • Will my home equity payments change?

    Home Equity loan principal and interest portion of payments will not change. If you have an escrow account for payment of real estate taxes, the amount you pay in escrow might need to change, and so will your monthly payment. Home Equity Line of Credit payments have the ability to adjust based on how much you owe and the current annual percentage rate you pay.

  • How do I obtain a payoff statement?

    We can mail you a payoff statement if you call us toll free at 1-877-SF4-BANK (1-877-734-2265). You can also request a payoff statement by sending a written request to:

    • State Farm Bank
      Attn: Loan Servicing
      310 Price Place
      Madison, WI 53705

Taxes on my Home Equity Loan

Insuring my Home Equity

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Auto Loans

General Information

  • How is the interest calculated on my auto loan?

    State Farm Bank auto loans are simple interest loans. Simple interest calculations are used for installment loans:

    • The remaining principle is multiplied by the interest rate, and then divided by the number of days in the year to get the figure for the interest per day.
    • That figure is then multiplied by the number of days between payments to arrive at the interest amount due at each payment.

    For example:

    • If you have a $20,000 loan at 8.49% annual percentage rate (APR), the first interest figured would be $4.652 interest per day:
    • 20,000.00 x .0849 = $1,698.00 (Interest for 1 year)
    • $1,698.00 / 365 = $4.652 (Interest per day)
    • For the first month, $4.652 would be multiplied by the number of days from the date the funds were disbursed, to the date the payment is processed.
    • $4.652 x 30 = $139.56 (Interest due for 30 days)

  • Who holds my title?

    In most states, State Farm Bank holds the title to your vehicle. Some states, however, are title-holding states in which you hold the title to your vehicle with our lien on it.

    The title is released to you once your loan is paid in full, the payoff is processed, and the lien is satisfied. This process takes 10 business days, and the title is mailed on the 10th business day. Please allow for normal mail time. If you live in a state that houses titles electronically, timeframes may vary.

  • Where is auto financing available?

    Auto loans are only available in the United States. Within the United States, autos are eligible for financing in all states except for Massachusetts and Rhode Island.

  • Can I make changes to my title?

    Yes. We will accept customer initiated title changes; however, research fees and state title and registration fees may apply. If you wish to make changes to your title please contact us toll free at 1-877-SF4-BANK (1-877-734-2265).

  • Can I take my vehicle out of the country?

    It may be possible, if you meet certain requirements. For more information or to request to take your vehicle out of the country, please call us toll free at 1-877-SF4-BANK (1-877-734-2265).

Applying for an Auto Loan

Paying My Auto Loan

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Health Savings Accounts

General Information

  • Why must I have high-deductible health insurance to open a Health Savings Account?

    To get the benefits of a Health Savings Account (HSA), the law requires that the savings account be combined with high-deductible health insurance. High-deductible health insurance costs less than traditional $250 or $500 deductible coverage, because the insurance company doesn't have to process and pay claims for routine, low-dollar medical care.

  • What are the differences between Archer Medical Savings Accounts (MSAs) and Health Savings Accounts (HSAs)?

    HSAs are a significant expansion of the MSA program. Unlike MSAs, HSAs provide the following:

    • Everyone covered by a high-deductible health plan (HDHP) is eligible to participate (this includes all size employers, the self-employed, and individuals and families who are not self-employed)
    • Funding by the employer, employee, or both within the same taxable year
    • Permanence and portability
    • Customers can make larger contributions
    • Customers enjoy broader deductible ranges

    Both accounts can be funded concurrently, however, the HSA contribution limit for the year is reduced by the amount of the MSA contributions made for that year. There is no requirement that one account type be funded before the other.

    Balances in MSAs can be rolled into HSAs on a federal-income-tax-free basis, but it is not necessary.

  • If I'm covered by a high-deductible health plan (HDHP) and have a discount card that enables me to obtain discounts for health care services or products, can I contribute to an HSA?

    Yes. Discount cards that entitle holders to obtain discounts for health care services or products at managed care market rates will not disqualify an individual from being an eligible individual for HSA purposes if the individual is required to pay the costs of the health care (taking into account the discount) until the deductible of the HDHP is satisfied.

  • Are health insurance premiums qualified medical expenses?

    Generally, health insurance premiums are not qualified medical expenses, except for the following:

    • COBRA insurance
    • Qualified long-term care insurance (subject to the dollar limits in IRS Publication 502: Medical and Dental Expenses)
    • Health insurance premiums for individuals receiving unemployment compensation
    • For individuals age 65 or older, Medicare and retiree health insurance premiums (except for Medicare Supplement policy premiums)

Maintaining My Account

  • How is interest calculated, and how often will it be applied to my Health Savings Account?

    Interest is compounded daily and credited to a customer's HSA on a monthly basis.

  • What is a power of attorney entitled to control on a Health Savings Account?

    After a power of attorney form has been completed and notarized, a power of attorney has the power to open, maintain, or close the account. They can transact any and all lawful business of whatever nature on behalf of the customer. Examples include (but are not limited to) making contributions or withdrawals, writing checks, and accessing account information.

    Power of attorney expires at the death of the principal (account holder). Whomever the account holder has specified as the beneficiary on the HSA application (Section 5: Designation of Beneficiaries) will be the new account owner. If none has been specified, the account will become a part of the decedent's estate.

Funding My Account

Taxes on My Account