Consumer complaint received 2024-08-28 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: ARVEST BANK GROUP, INC.
State: OK

Complaint narrative:
I have requested process and timing information for the trust of my grandparents of which I am one of the beneficiaries. We were initially made to wait 2 weeks after her passing for any information to arrive by mail. We were told that no information could be given over the phone or in person and that we had to await the letter. Once we received the letter we were made to wait an additional 2 weeks before we could access the house because our wealth manager and her supervisor were both out on vacation and there was no other person to help us until they returned. Less than a week before my grandmothers passing she, again, as many times before, told me of a folder that contained all of the information for when " the time '' came. The time came and I drove 2 hours to retrieve the packet, only to arrive to the door locks changed and the garage door unplugged so the code and opener I had would not work. I could not get anyone immediately on the phone so made the 2 hour drive home. Once I did talk to someone I was told that they had already gone through that desk drawer and there was no such folder. She was of very sound mind until her last days and I don't believe she lied for years about the folder. Why does Arvest and their vendors have unsupervised access to the house from the day she died, but the family is not allowed? I believe we should be able to have a family representative present when anyone enters, or at least be notified. There are things missing, family heirlooms, that we believe were in the house and Arvest and their " preferred '' vendors have been the only ones with unfettered access without family representation. Once we were granted time to go through the house we were initially told we would have 2 days. Before noon on the first day one of the managers told us that today would be the only day and that she was cancelling the next day because someone wasn't " acting right ''. For her to have that much power over our family matriarch 's possessions and property, when I had let myself in through the garage and sat with my grandmother in that kitchen less than a month before, was devastating. Panic set in before noon and then I learned at XXXX that XXXX was the cut off. 6 hours to go though our grandparents almost 100 years of accumulation, with no thought of being able to ever go back, was heartbreaking for days. She did eventually make contact and grant another day, but multiple trips from 2 hours away could have been avoided had we had a bit more information about how it was going to go beforehand. There is an information vacuum I do not believe my grandparents would have agreed with based on the bullet points on the website that likely sold them on this service. It was less than 1 month before my grandfathers passing and he was onXX/XX/XXXX and heavily medicated when they entered this arrangement. They likely thought that this would be easier on the family, but I also believe they thought we would be informed along the way. I have had to reach out for any information, and in doing so only get the most basic. Timing and process are listed front and center on their list of services provided in the wealth management arena, but they have not produced any information on how they perform the processes nor how long they expect them to take in spite of multiple requests, only that they use " preferred '' vendors. I was able to close out my mothers estate back in XX/XX/XXXXin just under 4 months and I knew nothing of the " process ''. From finalizing credit cards to vehicle and house sale to disbursement of funds to beneficiaries all researched and completed in a timely manner with the peace of mind that is was done with the least expense necessary and the way she wanted. The trust manager told me that being executor and trustee is not an honor, but it does go a long way, in my opinion, towards knowing that your loved ones wishes are being properly and respectfully finalized and that funds intended for beneficiaries is not wasted on unnecessary expenses or funneled away to fees. The 2 times we have been to the house it appears as the HVAC is being kept at a temperature as if someone was actively living there, which we believe is a waste of funds. Arvest insisted on using their " preferred '' lawn crew and the property is tended to more than we feel necessary, which we also feel is a waste of funds. Arvest has retained a large sum of cash from the estate for " expenses '', but have not detailed what those might be. There are fees and disbursements listed on the only 1 statement I have received that are not explained in a way we can understand them and they are quite a large sum for only being half way through the year. Their " preferred '' estate sale company has been busy with others and has not started sorting our grandparent 's estate for sale. It has been almost 2 months since we finished the family tours of the house and signed the paperwork that states we are done and wish for Arvest to proceed with the sale of the contents then the house. We feel another company should be chosen in the interest of time and reduction of continued cost to the estate for an undetermined amount of time while waiting on " preferred '' vendors. I was informed on my last email reach out that there was an appraisal done, but the details remain unexplained. There was question about a vehicle and what we wanted done with it. We suggested it go to a family member, who now, just recently, is a single mother of XX/XX/XXXX due to a death so this is now more important to us, but we have not heard anything about the vehicle and it has been almost 2 months since we made the request.

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