They will sneak in fees on you
I had an account here for about 2 years. I had problems from day one with their sign up process. You see, I placed my name first and my wife's name second on our joint account, so when I linked our joint account from a credit union that had my wife's name listed first, Arkansas Bank rejected the link. I was told it was because it was done by computer and the computer did not identify the names as the same. This forced me to redo all my online signup information and I had to make sure and sign in on both accounts each month to receive my bonus interest rate. When they changed their security system, as reference by a previous post, we were not actively involved, but my mother was and she also received the gift card for inconveniences. We did not receive said gift card. When my mother failed to receive her bonus interest rate despite fulfilling all requirements, she called. They said she had not signed up for e-statements. When she pointed out that she signed up for that long ago and had received her bonus interest for several months to prove it, then they mentioned that "some" people's accounts had reset their e-statement settings, and that they would fix it for her. We had to wonder about all those who didn't happen to notice their funds were short that month, the next month, and so on. $25 was nowhere near what they would have owed her had she not called to get it corrected. Finally, because we had found better rates at other banks we found ourselves having not used our account for 17 months, but having signed in online many times since then (even changing our security information to comply with their upgrade), I noticed $30 missing from my account. I called and was told in my original documentation I could find a $5 dormancy fee is charged to all accounts considered "inactive" for 12 months. The definition of "inactive" was not given, but apparently activity did not include any online activity. It had to be actual transactions. Not to mention the fact I was charged for 6 months of inactivity when they told me themselves that I had been inactive for only 17 months. To the credit of one particular employee who really went to bat for me, they did refund the $30. However, I requested in writing that they either refund my $30 and we would be sure to keep it active, or transfer/send me my current balance plus the $30 refunded and close my account. They chose to close my account and sent me a check for the balance plus $30 less a $5 fee for the cashier's check they mailed to me. Net-net, I still lost $5. My biggest problem with this bank was their lack of communication. Never once did I receive any notice that I was going to be assessed a fee. Not when my account went "dormant," not when they issued the cashier's check, nothing. In fact, other than the mass emails sent out for spam alerts, site maintenance, etc., I never received any personal communication from them except an email saying my online account was going to be dropped if I did not sign in soon. Funny, that particular oversight of mine would not have cost me one penny. You would think if they could find the time to send an email about that, they could send you an email for infractions that would ultimately cost you a fee. I guess that shows the integrity of First Arkansas Bank and Trust.
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