Arvest Bank Review: Committed to the Community
Written by
Caitlyn Moorhead
Edited by
Melanie Grafil
Commitment to Our Readers
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Arvest Bank is dedicated to customer satisfaction
It's best for customers looking to simplify their banking with online services and enjoy perks such as credit card rewards, special CD rates and purchasing cards.
Arvest Bank is a financial institution that offers personal and business banking as well as credit cards, home loans, investments and trusts throughout its branches in Arkansas, Kansas, Oklahoma and Missouri. GOBankingRates has given Arvest the Gold for Arkansas for Best Banks by State 2025.
Arvest Bank Checking Accounts
Individual Arvest Bank customers have many personal banking service options, such as checking and savings accounts, online and mobile banking, debit cards and perks like Arvest Flex Rewards™. Arvest personal checking account customers can choose from six account types. Here’s a rundown of each type.
- Free Blue™: To avoid paying a monthly checking account fee, choose this basic account and enroll in Arvest e.Statements. You’ll get a free debit card, unlimited check-writing privileges and up to $400 in overdraft protection.
- Basic Blueâ„¢: Along with a free debit card, you can get paper account statements with images for a $3 monthly fee.
- myBlue™: This account offers the same features as Free Blue™ and Basic Blue™ with the addition of unlimited online BillPay, IDProtect® and account holder AD&D insurance. You’ll pay a $6 monthly fee for these extras.
- Arvest Club: This personal checking account adds family AD&D insurance, higher overdraft coverage and free printed checks for a $12 monthly fee.Â
- Preferred Club: This personal checking option earns you interest on your account balance. You’ll also get $1,000 in overdraft protection, and you can avoid paying the $18 monthly service fee if you have at least one of the following:
- A qualified managed trust
- $20,000 in deposits
- $50 in brokerage assets
- $25,000 in loans and deposits
- $100,000 in mortgage loans
- $20,000 in personal loans
- Arvest Bright Solutionsâ„¢ Banking: This personal checking account offers a free debit card, no overdraft fees, free online transfers and online BillPay. It comes with a $5 monthly eStatements fee or a $7 fee for monthly paper statements.
Best For
Mobile App
Great APYs
Low Monthly Fees
Banking in Arkansas
Loan Options
$0 Minimum, Low Fees
Arvest Bank offers checking accounts with no minimum deposit requirements, fees ranging from $0 to $18 per month, and interest on balances with Preferred Club Checking.
Fees
$0 to $18
APY
on Preferred Club Checking
Min Opening
$0
Pros
- A large variety of checking account options, both personal and business, that cover a wide range of financial needs.
- Low overdraft fee when compared to leading competitors nationally
- There is a free checking option as Free Blue Checking charges no monthly maintenance fee.
Cons
- Â Â $2.50 fee to use an out-of-network ATM
Quick Take
All Arvest personal checking accounts come with options such as these at no additional charge: chip-enabled debit card, online banking, 24-hour account access and information by phone as well as Arvest braille debit cards available upon request.
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Arvest Bank Savings Accounts
Arvest Bank offers one regular savings account as well as the Cool Blue Savings account for customers under age 18 and a money market account. Here are some key takeaways:Â
- The regular account has a $100 minimum to open and a $2 monthly service charge, which can be waived with a $100 minimum daily balance.
- Interest is paid quarterly at the current savings rate on all daily collected balances of at least $100 or more.
- You can make unlimited deposits and have up to six free withdrawals per month before you incur a fee.Â
- Cool Blue Savings has a $50 minimum opening deposit and no monthly fee.
Best For
Mobile App
Great APYs
Low Monthly Fees
Banking in Arkansas
Loan Options
$50 Minimum Deposit
Arvest Bank savings accounts require a low minimum deposit of $50-$100, have a $2 waivable monthly fee and pay quarterly interest on balances of $100 or more.
Fees
$0 to $2, waivable
APY
Min Opening
$50 to $100
Pros
- Children’s savings option available with no minimum balance requirement or monthly fees
- Low minimum opening deposit requirements
Cons
- A withdrawal fee of $5 will be charged for each debit exceeding the included six per month.
- $2 monthly fee applies unless minimum balance requirements are met.
Quick Take
Though you may be able to find better APYs elsewhere, Arvest savings accounts offer the benefits of a savings account with the flexibility and access of a checking account.
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Arvest Bank CD Accounts
Arvest offers CDs with fixed rates and a choice of term length, which is the amount of time you need to keep your funds in the account so you don’t incur penalties for early withdrawal that may apply. Here is everything you need to know:Â
- Arvest Bank offers competitive CD rates, ensuring your money grows steadily over time.
- You can choose from various and flexible terms ranging from 31 days to 5 years, tailored to fit your unique finances and the time you’re willing to part with funds.
- Guaranteed returns offer you peace of mind with fixed-rate returns. Your investment is secure and will consistently grow your wealth.
- The minimum opening deposit for all CDs is $1,000.
- You have interest options as you can opt for whichever interest distribution makes sense for your financial needs. For example, you can reinvest in your CD or transfer to another Arvest Bank deposit account.
Best For
Mobile App
Great APYs
Low Monthly Fees
Banking in Arkansas
Loan Options
Competitive Rates With $1,000 Minimum
Arvest Bank CDs offer competitive fixed rates, terms ranging from 31 days to five years, and require a $1,000 minimum deposit, with higher APYs for larger balances.
Fees
No monthly service fee
APY
Min Opening
$1,000
Pros
- Competitive APYs
- CD rates can increase with increased account balances.
- Reasonable standard minimum balance requirement
Cons
- A high minimum balance of $95,000 is required to earn the highest APY.
- You can only open a CD over the phone, as there is no online option.
Quick Take
Arvest Bank CDs offer competitive fixed rates, terms ranging from 31 days to five years, and require a $1,000 minimum deposit, with higher APYs for larger balances.
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Arvest Bank Money Market Accounts
Arvest Bank’s money market accounts are great for those looking to earn more on their savings without having to sacrifice accessibility. Here are a few features to consider:Â
- Arvest’s money market account has a $100 minimum to open and a $10 monthly service charge that can be waived by keeping a minimum daily balance of $2,500.Â
- This account features tiered interest rates, compounded and credited monthly.Â
- Account holders get up to six penalty-free withdrawals per month.Â
- A money market pays a better interest rate than traditional savings accounts for those who maintain higher balances.Â
- Arvest interest is paid on a daily collected balance at the current money market rate on tiered balances.
Best For
Mobile App
Great APYs
Low Monthly Fees
Banking in Arkansas
Loan Options
Waivable $10 Monthly Service Fee
Arvest Bank’s money market accounts require a $100 minimum deposit, a $10 monthly fee (waived with $2,500 daily balance), and offer tiered interest rates higher than standard savings accounts.
Fees
$10, waivable
APY
4.2%
Min Opening
$100
Pros
- Low opening deposit requirement
- Earns better interest than a standard savings account
Cons
- $10 monthly service fee that can only be waived by keeping a minimum daily balance of $2,500. Â
Quick Take
If you are ready to elevate your savings strategy you can open an Arvest money market account today to start your savvier savings strategy.
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Arvest Banking Experience
Arvest Bank is committed to helping people preserve and grow wealth, finance major purchases and build financial security and stability. Customers rave about its great customer service. They say that Arvest’s representatives are friendly and courteous. Another hit is the ability to waive most fees if you carry a minimum balance in your checking and savings account.Â
Arvest Bank Loans and Credit Cards
Arvest Bank offers customers several home lending options, including:Â
- Home equity loans
- Mortgage programs
- Construction loans
- FHA and VA loans
- Rural development loans
Just like Arvest Bank’s many options for personal and business checking, it also provides several credit card choices for individuals and businesses. Here are some personal credit card options.
Arvest Flex Rewardsâ„¢
Arvest rewards you for the money you spend on eligible purchases at more than 15 million retailers worldwide. You can enjoy the benefits of:
- A low introductory APR
- No annual fee
- Visa’s Zero Liability service
Arvest Family Card
With this card, you can share your Arvest line of credit with your family members. Each family member gets a separate card with access to your credit line, and you can set limits on their use. This is an ideal solution if you’re a parent with a teenager or a college student who needs access to funds for emergencies or necessary spending.
True Rateâ„¢ Credit Card
If you’re looking for a credit card with a low introductory rate, then this one is for you. Arvest Bank’s True Rate™ Credit Card offers a competitively low rate on purchases and balance transfers for the first 12 months. There’s no annual fee, and you can get local customer service.
Arvest Bank Business Accounts
Arvest Bank also offers its business customers a variety of banking services including, financing options, management services and protection programs. Small businesses can choose from checking account options, and they all include a business CheckCard, online and mobile banking, and 24-hour account access and information by phone. Arvest offers three business banking accounts ranging from basic accounts with limited services to a Club account with premier services designed for small and medium-sized business needs.Â
- Free Small Business Checking: This basic business banking account has no monthly maintenance fee, and you can make 100 transactions per month. It does require at least $100 minimum to open the account. You’ll be charged $0.50 for each item on your statement over 100. Electronic statements are free, but paper statements with images will cost you $5 per month.Â
- Small Business Checking: This account has a $10 monthly flat fee and allows 200 transactions per monthly statement. You’ll still pay $0.50 for each item over the 200 maximum. The $10 monthly fee also includes up to $400 of overdraft protection, unlimited ACH debit and credit transactions and up to 15 free online bill payments per month.Â
- Small Business Club Checking: You can build a relationship with Arvest if you choose this business banking account and avoid paying a $15 monthly fee when you maintain a moderate loan or deposit balance. It comes with the same requirements and benefits as the Small Business Checking account.
How Does Arvest Bank Compare?
Community banks like Arvest Bank are a necessary part of thriving communities. They create jobs for local people, reinvest money back into the community and help small businesses grow.Â
Here’s how Arvest Bank compares to its competitors in the same region of the country.
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$0 to $18
$10 to $25
Up to $6.95, which is waivable
APY
APY
APY
on Preferred Club Checking
N/A
Min Opening
Min Opening
Min Opening
$0
$0
$25
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$0 to $2, waivable
$4 to $10
No monthly service fee
APY
APY
APY
Up to
Up to
Min Opening
Min Opening
Min Opening
$50 to $100
$50
$25
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
No monthly service fee
No monthly service fee
No monthly service fee
APY
APY
APY
on 5-month promo CD
Up to
Min Opening
Min Opening
Min Opening
$1,000
$1,000
$500
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$10, waivable
No monthly service fee
$10, waivable
APY
APY
APY
4.2%
As high as
Up to
Min Opening
Min Opening
Min Opening
$100
$1
$100
Arvest Bank vs. First Community Bank
First Community Bank has 30 locations across southern Missouri and Arkansas, and like Arvest Bank, it’s dedicated to excellently serving its banking customers’ needs. Arvest offers two business checking accounts designed for small and medium-sized businesses. First Community Bank offers five business checking accounts, serving additional types of business structures, including sole proprietorships and nonprofits.
Arvest Bank vs. Farmers Bank and Trust
Farmers Bank and Trust offers a credit card, the Foundation Credit Card, which helps customers easily establish and start building their credit. The card has manageable credit limits and low payment options. Arvest Bank’s credit card options are more rewards-based and more beneficial to customers with well-established credit.Â
Arvest Bank vs. FNB Community Bank
Arvest Bank offers a variety of personal savings accounts — Cool Blue Savings, Regular Savings, Money Market, Certificate of Deposit and Individual Retirement Accounts. The minimum amount to open a savings account is between $50 and $100. FNB Community Bank has only one regular savings account, and the minimum amount required to open an account is $100.
Final Take
The bottom line is that some financial experts and fintech gurus have a brighter outlook for community banks like Arvest Bank as viable alternatives to larger financial institutions. GOBankingRates has awarded it the Gold for Arkansas for the roundup of Best Banks by State 2025.
Arvest Bank may be a good banking choice for you if you’re looking for lots of personal checking and savings account options. If you’re a small business owner, Arvest is best for you if you only write a few checks per month, have minimal monthly transactions and want to separate your personal transactions from your business.Â
Arvest Bank FAQ
Here are the answers to some of the most frequently asked questions about Arvest.- Does Arvest have monthly fees?
- Yes, many of the checking and savings accounts have monthly fees, many of which can be waived by maintaining the minimum balance requirement of the account or other requirements. Arvest Bank does have free checking with its Free Blue checking account which is a fee-free checking account, while fees can be waived for some of the other checking accounts.Â
- Does Arvest Bank charge ATM fees?
- Yes, Arvest charges a $2.50 fee for using out-of-network ATMs. However, the Arvest portion of the ATM fee is waived on 6 non-Arvest ATM transactions per statement cycle. ATM owners may charge an additional fee.
- Does Zelle work with Arvest Bank?
- Yes, Zelle works with Arvest Bank and it is available through Arvest Online Banking with BlueIQâ„¢ or the Arvest Go mobile app.
- What products and services does Arvest offer?
- Arvest Bank offers a variety of products and services including checking, savings, money market and CD accounts as well as credit card and loan options.
Kathy Evans, Vance Cariaga, John Csiszar and Daria Uhlig contributed to the reporting for this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 16, 2024.Â
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
To discover the Best Banks by state, GOBankingRates analyzed the top institutions (excluding online banks and neobanks) by state branch locations. To determine rankings, GOBankingRates looked at the following factors: (1) total assets as sourced from the FDIC; (2) checking product minimum deposit; (3) monthly checking fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); (4) savings product minimum deposit; (5) savings product APY; (6) Bauer rating (out of 5 stars); (7) products/services offered (auto loans, mortgage loans, credit cards, investment services and insurance); and (8) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1), (2) and (4) were weighed 0.5 times, factor (5) was weighed 2.5 times and factor (7) was weighed 1.5 times. All products and offerings had to be available as of Nov. 8, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 16, 2024. To qualify as one of the Best Banks in the state, the institution needed at least five branch locations in the respective state, with some exceptions for larger and/or smaller states.
