Arvest Bank operates in Arkansas, Kansas, and Missouri states through its wide network of branches and community banks.
Customers can get Arvest Bank cashier’s check through its branches, online, or mobile banking systems.
Let us discuss Arvest Bank cashier’s check procedure, cost, and its pros and cons for the customers.
Arvest Bank – Introduction
Arvest Bank was founded in 1871 and is one of the oldest banks in Arkansas. Its headquarters is currently in Bentonville, Arkansas.
Arvest Bank has made several acquisitions of other banks throughout its history. It owns 16 other regional banks that operate as its subsidiary institutes.
Arvest Bank has branches in Arkansas, Kansas, Oklahoma, and Missouri. It currently serves around 110 communities are 14 community banks with independent boards in these states.
The services offered by Arvest Bank include:
- Personal Finance
- Checking, Savings, certificates of deposit
- Credit/debit cards
- Personal loans
- Retirement Plans
- Small business loans
- Business credit cards
- Treasury management
- Merchant solutions
- Commercial loans
- Equipment financing
- Agriculture loans
- Credit Cards
- Personal and corporate credit cards
- Flex and reward point cards
- Home Loans
- House mortgage programs
- FHA and VA mortgages
- Home equity loans
- Rural development loans
- Investments and Trusts
- Retirement planning
- Education planning
- Investment planning
Arvest Bank offers a wide range of banking services for its retail and corporate clients.
How to Open an Account with Arvest Bank?
Arvest Bank offers three options to its customers for opening an account.
Applicants willing to open a personal bank account can apply online for a new account. There is a wide range of personal banking accounts with different rewards and benefits.
The second option is to visit a nearby branch and ask for an account opening form. It is an easy and conventional method of opening a new bank account with Arvest Bank.
Finally, customers can call on the phone banking helpline to open a new bank account.
All three methods are convenient and easy. Customers will need the following information to open a new checking or savings account;
- Name and Date of birth
- Physical address
- Government Issued identification
- Tax identification number
- Minimum account opening amount
What is an Arvest Bank Cashier’s Check?
Arvest Bank cashier’s check is a banking instrument that is issued by the bank with the assurance of funds availability.
It is also called a special check or demand draft. It is issued on demand for the customers and can be used for any financial transaction.
The bank deducts the cashier’s check amount from the account balance of the payer or receives it in cash. Then, the cashier (or teller) records the specifications of the cashier’s check including the date, amount, and payee name.
The cashier then verifies the signatures and authenticates the check before handing it over to the customer.
A cashier’s check can be cleared overnight or within a day easily as it is a confirmed payment instrument.
How to Get Arvest Bank Cashier’s Check Verification?
Arvest Bank customers can get a cashier’s check using three methods conveniently.
At a Branch
The conventional way to get an Arvest Bank cashier’s check is to visit a nearby branch. The application form can be taken from the teller and completed instantly.
Once you provide all details, the teller will deduct the check amount from your bank account. You can deposit this amount in cash at the teller’s counter as well.
The teller will issue the cashier’s check after authentication and signature verification.
Through Online Banking
Another convenient and easy way to get an Arvest Bank cashier’s check is to apply through online banking.
Customers can log in to their online banking portal and fill in the application for a cashier’s check. The system will deduct the amount from your account at the time of issuing the cashier’s check.
The cashier’s check will be mailed to your provided address.
Through Mobile Banking
Customers can also use mobile banking or phone banking services to order a cashier’s check. The process of ordering and completing the details is the same as mentioned above.
Arvest Bank cashier’s check incurs a fee of $8 per check. The cancelation or re-issuance of the cashier’s check would incur additional charges.
How to Cancel a Lost or Stolen Arvest Bank Cashier’s Check?
A cashier’s check is a secured form of payment. However, it also means a greater risk for the payer.
In this case, if the cashier’s check is lost or stolen, you should immediately report it to your bank.
First, you’ll need to report the incident to the bank and provide details that something unusual has happened with the cashier’s check.
In most cases, customers also need to provide a declaration of loss of cashier’s check. Most banks follow the 90-day rule before canceling the already issued checks.
Therefore, cancellation or stop-payment of a cashier’s check may take more time than you expect. Also, reissuing the same cashier’s check would require a new deduction from your account until the case is proven in your favor.
Why Do You Need an Arvest Bank Cashier’s Check?
Arvest Bank cashier’s check can be used for any financial transaction. It is commonly used by customers for large payments.
It is used in transactions where both parties require certainty of payment. For example, a down payment for a mortgage plan requires a confirmed payment through a cashier’s check.
Other common uses of a cashier’s check include property purchase transactions, escrow payments, security deposits, and so on.
It can also be used for transactions where the payee requires immediate payment. A cashier’s check can be cleared within one or two business days.
Advantages of Using Arvest Bank Cashier’s Check
- Arvest Bank cashier’s check offers several advantages to the issuer and the receiver at the same time.
- It is an easy and convenient method of making large payments.
- Arvest Bank offers three different options to get a cashier’s check that offers further convenience to its customers.
- The Arvest Bank cashier’s check charges are competitive.
- The Arvest Bank cashier’s check can be cleared quickly for smooth transactions.
- It helps both parties boost trade relationships with a secured payment method.
- The payer and the payee can keep a money trail when using the cashier’s check.
Disadvantages of Using Arvest Bank Cashier’s Check
Arvest Bank cashier’s check offers some limitations as well:
- A cashier’s check is still subject to fraudulent activities like forgery or counterfeiting.
- It is not easy to report a lost or stolen cashier check.
- Stop-payment of a lost check is difficult and takes time.
- The payee can receive funds quickly, so the payer has little control over overpayment once it is issued.
- Cashier’s checks are not entirely free as conventional checks.
- A cashier’s check is suitable for large transactions and cannot be used for daily business or personal payments.
Arvest Bank Cashier’s Check Alternatives
If the convenience of an Arvest Bank cashier check is not enough, you have some other options as well.
A money order is a useful alternative to a cashier’s check. Arvest Bank only charges $3 per money order instrument, so it is cheaper as well.
Online fund transfer is another convenient option when moving money from your account to a payee’s account.
Similarly, you can use wired transfers as an alternative to the cashier’s check for making routine payments.