The story of Arvest is one of commitment started by our founders, an intense dedication to focusing on the customer above all else. This philosophy has remained the same during our growth from a small bank to a network of community-focused regional banks able to provide a complete range of financial services.
Arvest Information
Arvest Bank is a regulated regional bank with a strong community focus, offering financial services including checking and savings accounts, loans, mortgages, investments, and wealth management. Founded in 1961, Arvest focuses on building lasting relationships and providing personalized financial solutions. It has grown into a large institution with operations in multiple states with over 200 banking locations.
For more detailed information, you can visit their official website: https://www.arvest.com/ or contact their customer service directly.
Pros & Cons
Pros
- FINRA Regulation: Being regulated by FINRA, Arvest demonstrates a level of stringent compliance to regulation and strong customer protection.
- Wide Range of Services: The company offers checking, savings, loans, mortgages, investments and wealth management, etc.
- Branch Network: Extensive branch networks of Arvest provide convenient access for customers who prefer in-person banking.
- Digital Banking: Arvest offers robust online and mobile banking platforms for convenient account management.
- Transparent Fee Structures: Customers are able to make informed financial decisions with Arvest Bank's transparent fee structures.
Is It Safe？
Regulation:
Arvest is regulated by the Financial Industry Regulatory Authority (FINRA) under license number CRD#: 42057/SEC#: 801-63738,8-49677, dual oversight of which ensures stringent adherence to industry standards.
Fund Safety:
Arvest Bank offers protection for customers who fall victim to identity theft: it implements a provision of up to $10,000 in reimbursement for expenses incurred during the identity restoration process. This coverage can help offset costs associated with legal fees, communication expenses, and lost wages.
Safety Measures:
Arvest Bank's privacy policy includes comprehensive security measures such as encryption, multi-factor authentication, and regular audits to protect customer data and ensure privacy. Their approach is designed to prevent unauthorized access and data breaches.
What are the Securities to Trade with Arvest？
Arvest Bank's numerous services are available for both individuals and businesses, below are some of them:
Arvest's personal banking services include checking and savings accounts, debit cards, online and mobile banking, and rewards programs. For those looking to borrow, the bank provides home loans, personal loans, auto loans, and credit cards.
Arvest satisfies businesses with services like small business deposits, comercial deposits, online banking, treasury management, merchant services, and loans. Commercial lending, equipment financing, credit cards and international banking are also available.
- Investments and Wealth Management
The bank offers investment services such as retirement/education/insurance/planning, managed accounts, annuities and exchange-traded funds. Trust and estate planning services including insurance options are also available.
Interest Rates
APY and interest rates of Arvest Bank vary depending on deposit products.
- Certificate of Deposit (CD) Rates
Minimum Balance to Open a CD: $1,000
- Money Market Account Rates
Note: Money Market Accounts may incur a monthly fee if the balance falls below $2,500.
Note: Rates include the discount point closest to, but not exceeding 1%. Rates vary based on loan type, term, creditworthiness, and collateral.
For more details and most up-to-date information about APY and interest rates, visit https://www.arvest.com/rates or contact with the bank represntative direclty.
Fees Review
Arvest Bank charges various fees for its personal financial services and mortgage servicing.
Personal Financial Services:
- ATM Fees: $2.5 per inquiry/transaction at non-Arvest ATMs (additional fees may apply from the ATM owner).
- Card Services:
- Replacement Fee: $7.5 per card
- Expedited Delivery Fees: Varies ranging from $25-70 depending on delivery method (rush mailing, PIN mailing, etc.)
- Check Services:
- Cashier's Check: $8 per check
- Non-Customer Check Cashing (over $100): $5 per check
- Check Printing: Varies based on product features, quantity, and style (may include shipping and handling)
- Temporary Checks: $1 per set of four
- Transfers:
- External Bank Transfer: $10 per transfer
- Online Bill Pay (if applicable): $0.5 per item
- TransferNow® Transfers - Outgoing: Varies by delivery speed (standard, next day, instant)
- Other Fees:
- Incoming: $10
- Outgoing Domestic: $25 (with additional PIN fee option)
- Outgoing International: $60 (with additional PIN fee option)
- Trace Fee (domestic/international): No fee
- Collection Item: $20 for incoming or outgoing (international is $40)
- Dormant Account Fee: $5 per month (unless minimum balance is maintained or activity occurs)
- Fax Outgoing: $5 (long distance) or $25 (international)
- Foreign Currency Exchange: $30 per exchange
- Overdraft (Paid Item): $17 per item (maximum four per day)
- Research or Account Reconciliation: No fee
- SafetyLink Transfers: No fee
- Statement Options (duplicate monthly): $10 per month
- Stop Payment Order: $30 per item
- Verification Confirmations: $25 per request
- Wire Transfers:
- Zelle® Transfers: No fee (incoming/outgoing)
More detailed and latest info can be found at https://www.arvest.com/personal/fee-schedule.
Mortgage Servicing:
- Assumptions:
- No Release of Liability: $100
- Release of Liability: $400 - $900
- Property Valuation: Actual cost incurred (typically $100 - $190) for Broker's Price Opinion/Market Analysis/Collateral Analysis.
- Collateral Adjustments:
- Conventional Loan: $0 - $500
- FHA Loan: $0 - $100
- Late Charges: Varies based on state law and loan documents.
- Principal Reduction Re-Amortization: $500
- Property Inspection: $0 - $50
- Property Preservation: Actual cost incurred.
- Recording Fees: Varies by county (for releasing mortgage lien).
- Returned Payment: Varies.
More detailed and latest info can be found at https://www.arvest.com/personal/borrow/home-loans/servicing-center/mortgage-fee-schedule.
App/Platform
Arvest Bank provides a digital banking platform.
Online Banking offers features such as checking balances, printing statements, transferring funds, ordering checks, accessing e-statements, and paying bills. This service is typically included with several checking account options.
Mobile Banking provides on-the-go access to accounts through both a mobile website and a dedicated app available on iOS and Android devices. The app named “Arvest Go Mobile Banking” with key features include checking balances, transferring funds, paying bills, mobile check deposits, and setting up account alerts etc. The app also supports digital wallets like Apple Pay, Google Pay, and Samsung Pay for added convenience and security.
Research/Education
Arvest Bankoffers a financial education program called EmpowerED. This resource provides valuable information on various financial topics, including banking basics, money management, homeownership, business management, and retirement planning etc.
Customer Service
- Phone: Reach a customer service representative directly by calling (866) 952-9523 or (855) 574-4183 (Spanish).
- Correspondence address: PO Box 1515, Lowell, AR 72745.
- Email: For written inquiries or to submit documents securely, send emails to their departments, for example, TMCustomerService@arvest.com for treasury management.
- Social Media: Connect with Arvest Bank on Facebook, Twitter, Instagram, or YouTube for updates and receive assistance through private messages.
For different contact details of different business units, you can visit their website (https://www.arvest.com/contact) to find the most up-to-date information for your specific needs.
Its website also features an ATM locator, allowing you to easily find an Arvest ATM near you by inputting city, state or zip info and search.
Conclusion
Arvest Bank is a regional financial institution with a strong emphasis on community involvement. Established in 1961, it has grown significantly while maintaining its customer-centric approach. Offering many banking services, including checking and savings accounts, loans, mortgages, and investment products.
The bank is regulated by the Financial Industry Regulatory Authority (FINRA) with license no.CRD#: 42057/SEC#: 801-63738,8-49677. With its regulatory status and long history in the financial field, Arvest is a trusted partner who provides solid foundation for customers to achieve their financial goals.
Q&A
- Is Arvest regulated by any financial authority？
Yes, it is regulated by the Financial Industry Regulatory Authority (FINRA) with license no. CRD#: 42057/SEC#: 801-63738,8-49677.
- What types of investment products does Arvest offer？
It offers checking and savings accounts, loans, mortgages, investment services, and wealth management options etc.
- Is Arvest suitable for beginners？
Arvest Bank is well regulated by FINRA and offers a range of products and services. However, beginners are encouraged to start with basic accounts and gradually explore more complex financial products.
- What are the benefits of online and mobile banking with Arvest？
Online and mobile banking with Arvest allows customers to check balances, transfer funds, pay bills, and access account information securely from anywhere.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
