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Arvest Bank Review 2024

Updated January 31, 2024
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At a glance

4.0
Rating: 4 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 4.2 stars out of 5

Checking

Rating: 4.3 stars out of 5

Savings

Rating: 3.2 stars out of 5

MMA

Rating: 3.4 stars out of 5

About Bankrate Score

Overview

Arvest Bank is best for consumers in Arkansas, Kansas, Oklahoma and Missouri who like working with a smaller bank and having a local branch, but it doesn’t offer the best rates for most of its deposit products.

Highlights

  • Highly Rated App
  • Low Fees
Compare offers
Info
Bank logo
Member FDIC.
Savings Account
5.25
%
APY
APY
Info
As of 4/23/2024
Rating: 5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Promoted offer: No fees. Easy deposits and quick withdrawals.
Bank logo
Member FDIC
Savings Account
5.15
%
APY
APY
Info
As of 4/23/2024
Rating: 5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Promoted offer:
Bank logo
Member FDIC
Savings Account
5.00
%
APY
APY
Info
As of 4/23/2024
Rating: 4.9 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Promoted offer: Plus, no monthly fees and unlimited free external transfers

Overall

Arvest Bank is a regional bank headquartered in Bentonville, Arkansas, that offers accounts to residents of Arkansas, Kansas, Oklahoma and Missouri. With checking account options and CDs with competitive rates, this bank will appeal to a wide base of customers in the area. Given its local nature, you won’t find in-network ATMs outside of Arvest’s main operating area, and you’ll have to pay a fee to use out-of-network ATMs.

Pros

  • Checkmark

    Reasonable minimum-deposit amounts mean most accounts are accessible to a broad range of consumers.

  • Checkmark

    The bank provides a mobile app that earns positive reviews by iOS and Android users.

  • Checkmark

    The bank’s overdraft fee is significantly lower than the average fee.

  • Checkmark

    Arvest offers competitive APYs for its CDs.

Cons

  • Higher APYs can be found elsewhere.

  • Customer phone support isn't available Sundays.

  • There is a fee to use an out-of-network ATM.

  • Some accounts include monthly and overdraft fees.

Arvest Bank banking products

3.2
Rating: 3.2 stars out of 5
Bankrate Score

Arvest Bank savings overview

The Arvest Bank Savings Account earns a yield that’s below the national average. It requires $100 to open, and a $100 minimum daily balance or a $500 average daily balance to avoid the $2 monthly maintenance fee. Higher yields and savings accounts that charge no fees can be found at other banks.

Arvest also has a savings account for children called Cool Blue Savings. A $50 deposit is required to open this account, but there’s no minimum balance requirement you must maintain or monthly fees.

Pros

  • Checkmark

    The Arvest Bank Savings Account has a reasonable minimum deposit.

  • Checkmark

    The children’s account has no minimum balance requirement or monthly fees.

Cons

  • Higher yields can be found elsewhere — especially at online banks.

  • A $2 monthly fee applies unless monthly minimum balance requirements are met.

  • See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

    Arvest Bank
    APY
    APY
    Info
    National average APY
    How do we get this data?
    Info
Compare Offer
Info
Bank logo
Member FDIC.
Savings Account
5.25
%
APY
APY
Info
As of 4/23/2024
Rating: 5 stars out of 5
Info
$0
Min balance for APY
Promoted offer: No fees. Easy deposits and quick withdrawals.

Bank fees

Fee Charged?
Overdraft fee $17
Non-sufficient funds fee None
Monthly maintenance fees $0 - $10
Out-of-network ATM fee $2.50
Excessive transaction fee $10

About Arvest Bank

Arvest Bank is a regional bank in Arkansas, Kansas, Oklahoma and Missouri that operates more than 200 branches. It provides money market accounts, savings accounts, certificates of deposit and checking accounts.

Customer experience

Physical presence. Arvest Bank is a Bentonville, Arkansas-based regional bank with more than 200 branches in Arkansas, Kansas, Oklahoma and Missouri.

Customer service. Customers can reach Arvest customer service by phone Monday through Friday from 7:00 a.m. to 8:00 p.m. CT and Saturday from 8:00 a.m. to 5:00 p.m. CT. There’s also a 24-hour account information line that’ll help you with basic account questions.

Digital experience. The bank’s ATM network isn’t extensive, but its website and app offer surprisingly good technology for a smaller bank. Arvest customers have access to highly rated apps for both Android and iOS, the option to use multiple mobile wallets and some useful budgeting tools.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.