State Farm Bank Bank Account Or Service Complaint

State Farm Bank Bank account or service department,

Checking account Deposits and withdrawals Oregon

I have a Online checking account with State Farm Bank. They have no brick and mortar '' facilities. My deposits are done remotely by scanning the check for deposit using a State Farm app. The Bank acknowledges receipt of the deposit immediately, but it is not considered a deposit until I receive an email notification that the check has been approved and processed ''. My most recent check for deposit in the amount of $5500.00 was acknowledged by such an email on -/-/2015 at -. My online State Farm check ledger shows a deposit on - and a new account balance reflecting the deposited $5500.00. However, according to State Farm policy only $500.00 of that check was actually posted internally as a credit to my account balance. The following day, -, the bank paid checks from my account as previously requested online and also received a paper check for payment. The Bank states that at the close of the day


The checking account charge to receive this transfer was $3.00. The Bank states that the balance of my deposited check in the amount of $500.00 was credited to my checking account balance internally the following day, on -. I believe the Bank misrepresented my online ledger account balance and misrepresented holding back internally $5000.00 of deposited funds when the Bank notified me by email on - that This message confirms your deposit of $5500.00 has been approved and processed ''. Therefore the credit card transfer was unnecessary and the charges against my accounts were wrongful.