State Farm Bank® Reaffirms Commitment to Customer-Centric Approach by Limiting Fees

BLOOMINGTON, Ill., Sept. 30, 2011 /PRNewswire/ -- In the midst of reports of rising fees at banks and financial institutions around North America, State Farm Bank today reaffirmed its commitment to a customer-centric approach by limiting fees for the services it offers.

• Debit Cards: State Farm Bank does not charge monthly fees to use or have a debit card. There are also no minimum purchase requirements for debit card use.
• Checking Accounts: State Farm Bank continues to offer free checking to its customers with no monthly minimum balance requirements and no fees.*
• ATM usage: State Farm Bank rebates all ATM fees* incurred by customers.  The Bank also will not charge customers for the use of ATMs not owned by the Bank.  Further, the Bank will rebate a foreign ATM surcharge imposed by the ATM owner in any amount assessed against a State Farm Checking, Interest Checking, or Money Market Account provided that there is a direct deposit via an Automated Clearing House (ACH) credit into that account.

"We continue to do all we can to help our customers have access to their funds in easy and affordable ways," said Mike Smith, State Farm Bank President and Chief Executive Officer.  "And because customers can deposit checks into our online bank via cell phones, we offer all the convenience of a typical bank right from the palm of your hand."

*These consumer-centric services are available to customers provided certain terms and conditions are satisfied.  For more details please go to www.statefarm.com.

About State Farm®:

State Farm and its affiliates are the largest provider of car insurance in the U.S. and is a leading insurer in Canada. In addition to providing auto insurance quotes, their 17,800 agents and more than 65,000 employees serve 81 million policies and accounts – more than 79 million auto, home, life and health policies in the United States and Canada, and nearly 2 million bank accounts. Commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles, is also available. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 37 on the Fortune 500 list of largest companies. For more information, please visit http://www.statefarm.com or in Canada http://www.statefarm.ca.

State Farm Bank®, Bloomington, Illinois, is a Member FDIC and an Equal Housing Lender. Insurance, annuities and securities products offered by affiliate companies of State Farm Bank are not FDIC insured, are not guaranteed by State Farm Bank, and are subject to investment risk, including possible loss of principal.

SOURCE State Farm Bank