Arvest has no monthly fee for most checking accounts, and no minimum opening deposit

Arvest Bank does not charge a monthly maintenance fee on its standard checking account, called the Arvest Checking Account. You do not need to deposit money to open it — the account itself costs nothing to set up.

Arvest operates in Arkansas, Oklahoma, Missouri, and Kansas. The bank is owned by Berkshire Hathaway. If you bank at an Arvest branch, you can open an account in person with just your ID and Social Security number. If you open online, you will need the same information plus a valid email address and phone number.

The account comes with a debit card, online banking, and mobile app access at no extra charge. You can make unlimited deposits and withdrawals at Arvest ATMs and branches. Out-of-network ATM fees do apply if you use another bank's machine — Arvest charges $3 per transaction for that.

Key Takeaways

  • Arvest Checking Account has no monthly maintenance fee and no minimum opening deposit required.
  • You can open an account in person at any Arvest branch or online through the bank's website with just your ID and Social Security number.
  • The account includes a debit card, online banking, and mobile app access at no additional cost.
  • Out-of-network ATM withdrawals cost $3 each, so using Arvest's own ATMs and branches keeps you from paying extra fees.

What happens when you open the account

When you open an Arvest Checking Account, the bank will ask for your legal name, date of birth, address, phone number, and Social Security number. They verify this information against their fraud and compliance databases before the account goes live. This verification usually takes a few minutes in person or a few hours online.

Once approved, you receive a debit card in the mail within 5 to 7 business days. You can use your account and make deposits before the card arrives — you just cannot withdraw cash at ATMs or make in-person purchases until it comes. Online transfers and bill pay work immediately after the account opens.

If you open online, Arvest will send you a temporary card number by email or text that you can use right away for online purchases. This temporary number expires once your physical card arrives.

Fees that might apply after you open

The monthly maintenance fee is zero, but other fees can add up depending on how you use the account. Overdraft fees are $35 per transaction if you spend more than your balance. Arvest does offer overdraft protection — you can link a savings account or credit line to cover overdrafts automatically, which costs less than the overdraft fee.

Returned deposit fees (when a check bounces or an ACH transfer fails) cost $15. Wire transfer fees are $15 for outgoing domestic wires and $25 for incoming wires. If you need a cashier's check, Arvest charges $10 per check.

Stop payment requests on checks cost $35. If you close the account within 90 days of opening, some banks charge an early closure fee, but Arvest does not — you can close it anytime without penalty.

How to open an account in person

Find the nearest Arvest branch using the bank's branch locator on its website. Bring a government-issued photo ID (driver's license, passport, or state ID) and your Social Security number. You do not need to bring money — the account opens with zero dollars.

A banker will ask you to choose a username and password for online banking and set up a PIN for your debit card. They will also ask whether you want paperless statements (email only) or paper statements mailed to your address. Paperless is faster and saves the bank money, so some branches encourage it.

The account opens on the spot. Your debit card ships within 5 to 7 business days. You can start using online banking and bill pay immediately, even before the card arrives.

How to open an account online

Go to arvest.com and look for the "Open an Account" button, usually on the homepage. Select "Checking Account" from the account type menu. You will enter your legal name, date of birth, address, phone number, and Social Security number.

Arvest will verify your identity using information from credit bureaus and public records. This usually takes a few minutes. If the verification passes, you choose your username, password, and debit card PIN right away.

Your account number and routing number appear on screen immediately. You can start making transfers and setting up bill pay the same day. Your physical debit card arrives in 5 to 7 business days. Until it comes, you can use the temporary card number Arvest sends by email or text for online purchases.

Minimum balance and account maintenance

Arvest Checking Account has no minimum balance requirement. You can keep $0 in the account and pay no monthly fee. However, if you overdraft (spend more than you have), the $35 overdraft fee applies per transaction.

To avoid overdraft fees, you can set up overdraft protection by linking a savings account or credit line. When you overdraft, money transfers automatically from the linked account instead of triggering a fee. This costs nothing if you have the linked account already.

You can also turn off overdraft protection entirely through online banking or by calling Arvest customer service. If overdraft protection is off and you try to spend more than your balance, the transaction will be declined at the point of sale.

Comparing Arvest to other banks in the region

Arvest's no-fee checking account is competitive in its four-state region. Bank of Oklahoma and Simmons Bank, which also operate in Arkansas and Oklahoma, charge monthly fees on some checking accounts ($8 to $12) unless you meet balance or direct deposit requirements. First National Bank of Omaha charges $10 per month for basic checking.

Online banks like Ally and Charles Schwab also offer no-fee checking with no minimum balance, but they have no physical branches. If you need to deposit cash or speak to someone in person, Arvest's branch network in Arkansas, Oklahoma, Missouri, and Kansas is an advantage. If you rarely visit a branch, an online bank might offer better interest rates on savings.

Arvest's debit card has no annual fee and works at any ATM, though out-of-network withdrawals cost $3. Some regional banks offer fee-free out-of-network ATM access through shared branching networks, so compare if ATM access matters to you.

Frequently Asked Questions

Do I need to deposit money when I open an Arvest checking account?

No. Arvest Checking Account requires no opening deposit. You can open the account with $0 and add money later. However, if you overdraft before depositing funds, the $35 overdraft fee applies per transaction.

How long does it take to open an Arvest checking account?

In person, the account opens immediately — usually 10 to 15 minutes. Online, verification takes a few minutes to a few hours, and your account is active the same day. Your physical debit card arrives in 5 to 7 business days, but you can use the account online before the card comes.

What if I close my Arvest checking account right after opening it?

Arvest does not charge an early closure fee. You can close the account anytime without penalty. If you have a debit card that has not been used, return it to a branch or call customer service to deactivate it.

Can I open an Arvest checking account if I do not have a Social Security number?

Arvest requires a Social Security number or Individual Taxpayer Identification Number (ITIN) to open an account. This is a federal requirement for all U.S. banks. If you have an ITIN, bring documentation of it when you open the account.

What is the overdraft fee at Arvest?

Arvest charges $35 per overdraft transaction. You can avoid this by setting up overdraft protection (linking a savings account or credit line) or by turning off overdraft protection so transactions decline instead of overdrafting.