LAST UPDATED: March 9th, 2021

The Arvest Bank, formerly known as The Bank of Bentonville, offers checking and savings services, as well as credit cards, which can be easily managed online or with the Arvest Bank mobile app. With over 200 branch locations in Arkansas, Missouri, and Oklahoma, Arvest Bank services can be found in over 120 communities and is the largest bank in Arkansas in terms of deposit market share. 

Arvest Bank offers banking options for businesses, including business loans. The bank also offers personal, auto, and home loans, and investing services.

Continue reading for pros and cons, and Arvest Bank reviews.

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The Good

  • Checking Account Options
  • Savings Account Options
  • Business Banking Options
  • Online and Mobile Banking
  • Arvest Flex Rewards™

Checking Account Options

Arvest Bank offers six checking account options, allowing customers to personalize their banking experience.

Each account features the following services:

  • Free chip-enabled debit card
  • Online banking
  • Mobile banking
  • 24-hour account info line

Beyond these services, each account has different features and perks:

  • Free Blue™ — Arvest Bank's basic account with unlimited check writing, no monthly fees, and up to $400 in overdraft coverage.
  • Basic Blue™ — Includes a nominal monthly fee, but provides paper statements for those who prefer it.
  • myBlue® — Offers affordable checking with unlimited online billpay, includes IDProtect®, and individual AD&D insurance. There is a $6 monthly fee.
  • Arvest Club — Nearly identical to the myBlue® account, but features family AD&D insurance, and the account has a $12 monthly fee.
  • Preferred Club — Arvest Bank's best personal checking account, allowing customers to earn interest on their balance, as well as enjoy various benefits and perks such as $1,000 in overdraft coverage. The $18 monthly fee can be avoided with various options.

Once you choose the best account option for you, you can apply online.

Savings Account Options

To help customers earn interest while saving money, Arvest Bank offers five account options. All accounts include online and mobile banking, and 24-hour account information line.

Arvest Bank offers the following account options:

  • Cool Blue Savings — Designed for those under the age of 18, there is no monthly service fee, and interest can be earned daily on the account balance. There is a $50 minimum required to open the account.
  • Savings — Arvest Bank's basic interest-earning savings account. A $100 minimum is required to open this account, and there is a $2 monthly service fee (which can be avoided if you maintain a minimum daily balance of $100 or an average daily balance of $500).
  • Money Market — For those who maintain a higher account balance, earn more on interest with a $10 monthly service fee (can be avoided if a daily balance of $2,500 is maintained).
  • Certificate of Deposit (CD) — Includes competitive interest rates, which are subject to change and fluctuate with the market.
  • Individual Retirement Account (IRA) — Fixed or variable rates available with no monthly service fee. To open an account, a $1,000 minimum is required.

Business Banking Options

In addition to traditional personal bank accounts, Arvest Bank has both checking and savings options for small and commercial businesses.

For small businesses, Arvest Bank has three checking account options, as well as a debit card option. Each of these accounts feature the following:

  • Arvest Business Checkcard
  • Online banking
  • Mobile banking
  • 24-hour account information line

For commercial businesses, Arvest Bank offers two checking account options, as well as a Money Market and savings account option. All of these accounts feature the following:

  • Arvest Business Checkcard
  • Online banking
  • Mobile banking

It is important to note that the commercial business accounts may have fees.

Online and Mobile Banking

Arvest Bank makes banking simple and accessible with online and mobile services for checking balances, transferring funds, paying bills, etc.

It is also important to note that online billpay is available with several of Arvest Bank's checking account options.

Arvest Flex Rewards™

Arvest Bank offers a variety of credit card options through Arvest Flex Rewards™. 

This rewards program helps customers earn rewards points on everyday purchases and features the following:

  • No annual membership fees
  • Redeem points for cash back, statement credits, and more
  • 3X rewards on eligible health and wellness purchases*

*This offer is only available through 3/5/2021.

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The Bad

  • Monthly Maintenance Fee

Monthly Maintenance Fee

In addition to limited lending capabilities, Arvest Bank also charges monthly maintenance fees on a number of checking and savings accounts. While there is typically a way to avoid these monthly fees, there are restrictions that must be met if the clients wants to avoid the charge.

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The Bottom Line

Arvest Bank offers a number of traditional banking solutions to personal clients and small businesses. These solutions include typical banking features with some bonus services included. Those interested in Arvest Bank can expect the following from the platform:

  • Numerous checking and savings accounts available
  • Online and mobile banking included
  • Debit and credit cards
  • Limited lending solutions
  • Fees charged on accounts

Arvest Bank reviews are currently limited and outdated so it is difficult to know what the customer experience is like with this bank.

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Catherine Hair

Is convenient the time span compared to where I work is good for me when I get off there still open I've been with Arvest Bank since 1998

3 years ago

star star star star star

Catherine Hodel Alexandria, VA

Great service when I need them, they do all they can to help with any problem I might have.

3 years ago

star star star star star

Gary McVey

Trouble-free checking. My renters deposit directly into my account.

3 years ago

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