Consumer complaint received 2015-08-13 00:00:00
Product: Bank account or service — Checking account
Issue: Account opening, closing, or management — 
Company: ARVEST BANK GROUP, INC.
State: FL

Complaint narrative:
To curtail my bank fees XXXX as I am in college ), I contacted Arvest Bank and requested that all overdraft protection be removed from my account in XX/XX/XXXX. They obliged and removed it. In XXXX, I tried logging into my Arvest account online and it denied me access. 

In XXXX I tried again and I was denied again. I began to get concerned as my student loans are set-up to be deposited in my Arvest account. I called Arvest and they told me that the account had been closed for a negative balance. I said how is that possible? Apparently in XXXX, a XXXX purchase I made on my phone deducted {$85.00} dollars from my account and they paid it and they charged me an overdraft fee. Nearly a month later, the same event happened again for {$7.00}. They charged another overdraft fee. Again a third time for a payment of {$2.00} and another overdraft fee. After so many days, they closed my account and reported it to collections. 

I was shocked and told them that I did not even have overdraft protection. The agent said yes, I see where we sent you a letter in XXXX saying we turned your overdraft protection back on. I never received this letter, nor did I consent to any overdraft protection. I specifically opted out of overdraft protection and Arvest decided to turn on my overdraft protection without consent. They never bothered to notify me by mail or by phone about the overdraft coverage change. 

Furthermore, they reported me to collections, which drastically dropped my credit score which affects my federal student loan interest rate XXXX I 'm on the Federal Grad XXXX Loan ) and automobile insurance. I explained the situation and said I felt I should only have to pay for the 3 charges and 1 fee. I asked if there was anyone I could talk to at Arvest about this and she said no. 

XXXX XXXX XXXX XXXX their hired collection company ) was extremely rude and said it did not matter if I had overdraft protection or not. They said the charges were automated/repeating payments, which they were not. Even if they had been, the terms and conditions of my account specifically lists XXXX reoccurring debits and ACH activity under the overdraft protection options. Thus, opting out of all overdraft protection should have opted me out of these charges. If it did not, it should say so in the terms and conditions. 

Arvest Overdraft Policy ( retrieved XX/XX/XXXX XXXX : Overdraft CoverageAll Personal Checking AccountsOverdraft Protection is available on most personal checking accounts after a minimum of 30 days from account opening, subject to approval. Generally accounts approved for overdraft protection have no more than 2 overdraft occurrences or have not been overdrawn 2 consecutive days in the first 30 days the account is open. You may elect whether or not to participate in overdraft protection. Overdraft protection is a discretionary service offered as a convenience ; we reserve the right not to pay an item. Customers that are approved for overdraft protection can select between basic or extended coverage. For basic coverage, overdrafts may be created by check, in person withdrawals, recurring debit charges or Automated Clearing House ( ACH ) activity. Extended coverage includes basic coverage plus ATM withdrawal or other electronic means such as everyday debit card purchases. Extended overdraft coverage requires you to opt in ; accounts will automatically default to basic overdraft coverage. You can change any election regarding your overdraft coverage at any time : you can decide to cancel coverage, change from basic to extended, or change from extended to basic. Let us know your choice by notifying us in person or on the phone. In order for your account to remain in good standing, within 35 days of creating an overdraftXXXX

Company response to consumer: Closed with explanation