Top 100 US retail lender
Arvest Bank has flagged up its ongoing commitment to offering free
checking accounts and said that it has no plans to charge for debit
card use.

Arvest said in a
statement:

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“As free checking, free
debit cards and debit card rewards are on the chopping block at
banks across the country, Arvest Bank is committed to providing a
feature-rich free checking account with a free debit card, free
online and mobile banking, and a debit card rewards
programme.

“Barring future
regulatory changes, Arvest is committed to providing these free
services to consumers.”

According to Arvest, it
also offers one of the lowest overdraft fees in the US.

From 7 November, all
Arvest customers will incur a charge of $17 for
overdraft/non-sufficient funds fees, compared with a national
average fee of around $27.

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The statement
concluded:

“Arvest is committed to
keeping the use of debit cards free and to continuing to provide
access to their successful debit rewards programme.”

A wave of acquisitions
has resulted in Arvest growing its branch network to more than 240
branches. Total assets exceed $11bn; it is the largest bank in
Arkansas by deposits and biggest bank in Oklahoma as ranked by
branches.

In the 2011 JD Power customer
satisfaction survey, Arvest was an easy winner in the South-West
region, scoring 809 on a 1,000 point scale.

Arvest ranked well ahead
of the second and third ranked lenders, Zions First National Bank
(782) and Bank of Oklahoma (779) in the 2011 survey.

In the 2010 JD Power
report, Arvest not only ranked top in its South West region, its
score of 835 was the highest score of any of the banks covered by
JDPower in its 11 regional surveys.