-
Financial Rates:
2.0
-
Customer Service:
4.5
-
Website Experience:
3.5
-
Bank Fees:
3.5
Pros:
- Reimbursement of ATM fees
- Variety of personal deposit accounts
- Most accounts have low opening amounts
- Money market has competitive rates
Cons:
- Accounts have monthly fees
- High opening balance for MMA
- Highest interest only introductory
- Daily limits for ATM withdrawals
-
Financial Rates:
3.0
-
Customer Service:
5.0
-
Website Experience:
5.0
-
Bank Fees:
3.0
Pros:
- Competitive interest rates on accounts
- Variety of accounts offered
- Low opening required amounts
- Only one account has a monthly fee
Cons:
- Must join credit union to open accounts
- Accounts have tiered interest rates
- Cannot open all accounts online
- High yield checking has requirements
State Farm Bank reimburses for fees charged at non-State Farm Bank ATMs. Fees are reimbursed if you have a direct deposit into the account you are withdrawing money from. If you do not have a direct deposit into that account, State Farm Bank will reimburse up to $10 each month in ATM fees.
A variety of different accounts are available through State Farm Bank. They offer a regular checking account and an interest-earning checking account. Savings and money market accounts are available. Accounts for minors, education, and retirement accounts are offered. CD terms range from 12-months to 5-years.
Most State Farm personal deposit accounts have low opening amounts. The saving account requires $100 to open. The regular checking account only requires $25. To open the interest checking account requires $100. Each of the different CDs requires $500 to open.
The State Farm Bank money market account offers a competitive interest rate. That account offers interest that is competitive with other online accounts. After the introductory period, met the qualifications to earn the competitive rate.
State Farm Bank accounts have a monthly fee and required balances to keep in the accounts. The fees range from $3 to $10 each month. The amounts required to keep in the accounts ranges from $100 to $500 for personal accounts. Having an electronic direct deposit into the account each month will waive the monthly fees.
The State Farm Bank money market earns competitive interest, but it has the highest required balances. To open this account requires $1,000. Waive the fee for this account by having a direct deposit into the account and keeping a $500 balance.
The most competitive rate is only an introductory rate for the money market account. You will receive the introductory rate for the first five billing cycles. After that time, if you have another State Farm qualifying account, you will earn the Relationship Rates which are lower, but still competitive.
State Farm Bank limits how much money you can withdraw from an ATM each day. The limit for State Farm Bank personal deposit accounts is $500 per day. There is also a limit to how much you can make in purchases each day. The purchase limit for debit cards is $3,500 per business day.
Wings Financial accounts offer competitive interest rates. The checking account rates are competitive with online account rates. The savings and money market account offer rates that are lower than online accounts. These account interest rates are higher than typical bank rates.
A good variety of accounts are available through Wings Financial. They offer checking, savings, and money market account. Specific holiday savings accounts are available. They offer CDS, personal loans, and credit cards. Personal investment and insurance opportunities are available. Some business accounts are also offered.
Accounts with Wings Financial have low opening required amounts. The checking accounts require either $1 or $5 to open. The savings accounts do not have a required amount or require $5 to open. Each CD term requires $500 to open. The money market account does require $5,000 to open.
Only the World Class Money Market account has a monthly fee. That fee is $10 per month. To waive that fee each month you must keep an account balance of $5,000. No other Wings Financial accounts have a monthly fee.
Before you can open accounts with Wings Financial, you must first join the credit union. To be eligible to join requires living or working in Minnesota or Wisconsin county, or Seattle-Tacoma, Washington. Family members of Wings Financial members are eligible. Aviation workers are eligible. You can join Wings Financial Foundation to become eligible to join the credit union.
Some Wings Financial accounts have tiered interest rates. To earn the most competitive interest rate in the money market account requires a balance of $25,000. The investment MMA requires a balance of $100,000 to earn the best rate. The savings account requires $50,000 to earn the best rate. Wings Financial CDs requires $90,000 to earn the best rate.
Not all Wings Financial accounts can be opened online. Their special CDs require visiting a branch location to open. The high yield checking account requires a branch location to open.
You must meet requirements to earn the competitive rates of the high yield checking account. That includes making 15 debit card transactions over $5 and have a direct deposit over $300 each month. You must also sign up to receive e-Documents. If you meet these requirements, you earn the competitive interest rate. The competitive interest rate applies to account balances under $25,000.
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| Savings (Rate as of 11/21/2024) | |
| APY | 4.00% |
|---|---|
| Rate | 3.92% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 11/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.64% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC No monthly maintenance fee, $0 to open, easily grow your money | |
The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guarantee the accuracy or availability of any rates shown. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
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1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.