Does Arvest Bank offer arbitration for disputes?

Arvest Bank’s deposit agreement includes a binding arbitration provision with a class action waiver. The bank made this revision based largely on its belief that third-party arbitration is fair and beneficial to both parties in a dispute, as it is faster and less expensive for both parties compared with litigation. The deposit agreement states that customers have 30 days from receipt of the agreement – or account opening – to notify the bank if they choose to opt out and not to settle their disputes through binding arbitration.