Grades are also broken down by the financial products offered be each institution. Arvest Bank is rated "B-" in Mortgages, and "C" in Bank Account Services. Click on any of the financial products to see how Arvest Bank compares.
Arvest Bank has received 303 consumer complaints since December, 2011 – more than 96% of other banks.
Of those complaints, 97.7% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' Arvest Bank meets the 60-day response deadline less frequently than 56.6% of other banks.
After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 19.1% of customers dispute Arvest Bank's response to complaints — worse than 52.3% of other companies.
Most of Arvest Bank's customers complain about mortgages with the primary issue being "loan modification,collection,foreclosure."
Arvest Bank is primarily a commercial bank with a commercial lending specialization. Arvest Bank is based in Fayetteville, Arkansas and is the 65th largest FDIC insured bank in America.
Naturally larger banks receive more customer complaints than smaller ones. This does not necessarily indicate that a bank is better than another in terms of service and customer support.
However, even after adjusting for bank size and number of customers, Arvest Bank receives far more complaints than most other banks. Arvest Bank recieves more complaints per customer than 99% of other banks – customers are significantly more likely to file complaints than customers of most other banks.
|#||Financial Product||Sub-Product||Complaint Issue||Complaint Count|
|1||Mortgage||Other mortgage||Loan modification,collection,foreclosure||97|
|2||Mortgage||Conventional adjustable mortgage (ARM)||Loan modification,collection,foreclosure||35|
|3||Mortgage||Conventional fixed mortgage||Loan servicing, payments, escrow account||32|
|4||Mortgage||Conventional fixed mortgage||Loan modification,collection,foreclosure||29|
|5||Bank account or service||Checking account||Deposits and withdrawals||21|
|6||Mortgage||Other mortgage||Loan servicing, payments, escrow account||20|
|7||Bank account or service||Checking account||Account opening, closing, or management||18|
|8||Mortgage||Conventional adjustable mortgage (ARM)||Loan servicing, payments, escrow account||15|
|9||Bank account or service||Checking account||Problems caused by my funds being low||10|
|10||Mortgage||FHA mortgage||Loan modification,collection,foreclosure||7|
|#||Company Response||Response Count||Timely Response Count||Disputed Count|
|1||Closed with explanation||287||281 (97.9%)||59 (20.6%)|
|2||Closed without relief||26||25 (96.2%)||6 (23.1%)|
|3||Closed with monetary relief||12||12 (100%)||1 (8.3%)|
|4||Closed||8||8 (100%)||3 (37.5%)|
|5||Closed with relief||5||5 (100%)||1 (20%)|
|6||Closed with non-monetary relief||3||3 (100%)||0 (0%)|