Consumer complaint received 2023-12-13
Company: ARVEST BANK GROUP, INC.
State: AR
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem with a lender or other company charging your account
Sub-issue: Transaction was not authorized

Complaint:
XX/XX/XXXX I tried to order a XXXX deal for {$540.00}. The charge was denied by Arvest. I called Arvest immediately, told we show no holds on your account the charge should be approved. This was a Black Friday deal, so we waited an hour for the charge to be approved. It was not approved. 

Phone call received from Arvest fraud department on Saturday regarding charge attempts. The system showed Arvest declined 6 attempts to charge my card. I told the fraud investigator with Arvest this was not fraud, but we already purchased a different XXXX so please do not allow the charge to go through. Arvest no worries it should not go through. 

Monday XX/XX/XXXX pending charge for {$540.00} shows on my account. Immediately message XXXX this will fall off and will not go through. Called Arvest call XXXX, but its a pending charge and should not go through. 

Tuesday XX/XX/XXXX charge cleared my bank and now is a transaction. Contacted XXXX told that transaction was cancelled. We do not see that you were charged. Sent screenshots of my card being charged for a service or item not supplied. We will have to send this to our supervisor. Called Arvest told call XXXX. At this time this is my first request from Arvest to dispute the charge. XX/XX/XXXX roughly XXXX. 

Wednesday XX/XX/XXXX reached back out to both XXXX and Arvest, continue to get the same responses. Request a dispute for the charge, okay we will email you. No email ever came. Arvest - call XXXX. XXXX - we dont see the charge this was cancelled Ill send to supervisor you will receive email. No email ever came. 

Since this time I have tried to get someone with both XXXX and Arvest to look into this without any luck. Multiple requests. 

Yesterday I went to Arvest. I was told my request on XX/XX/XXXX was finally put for an official dispute despite my first request being XX/XX/XXXX. We are now 14 days from my initial request. At this time I requested a provisional credit. I was told we will not look into this dispute until XX/XX/XXXX. This does not meet the requirements for an escalation. 

Per law - Under Regulation E, if a consumer files a written notice of error and the bank requires more than ten business days to determine whether an error occurred, the bank can take a longer time, provided it provisionally credits the amount in dispute to the consumer 's account. 

I want Arvest to change their policy regarding provisional credits as it goes against reg E and I want a refund from XXXX asap. We have had similar problems with fraudulent online charges with Arvest and they do not provide provisional credits despite the laws. This is not our first issue with Arvest regarding provisional credits ; they simply do not do them. 

I was charged for a service by XXXX not rendered. I am not being provided a provisional credit per law by Arvest. These are my two issues. 

Thank you.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation