The Best Checking Accounts in Arkansas for 2024

If you're looking for the best checking accounts in Arkansas, you'll want to look into online checking accounts as well. See fees, rates, and minimum balances.
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The capitol building in Little Rock, Arkansas is shown as the sun is setting

Where you open a checking account should not be taken lightly. While some people may be fine with doing business with a national bank, others prefer a more local touch when it comes to where they put their money.

To find out what the best checking accounts in Arkansas have to offer, continue reading this page. Also, you will find information on online banking to learn about these virtual companies.

Compare Arkansas Checking Accounts with Online Checking Accounts

You’ll find in many cases that local and regional banks aren’t too different from online banks.

Some local, traditional financial institutions have started offering online banking features such as easy-to-use mobile apps and an online chat feature for customer service. Online banks have also made it easier to access funds, and they have made paper checks all but obsolete by offering online bill pay.

Still, there are some notable differences, as shown below.

The Best Checking Accounts in Arkansas for 2024

Although you may want to do your banking close to home, not every checking account in Arkansas will be the right fit for you. Below, we look at some of these accounts to give you an idea of what’s out there.

Union Bank

The Silver Spirit Plus account offered by Union Bank is an interest-bearing checking account designed for consumers over 50 years old. Customers can take advantage of unlimited check writing as long as they maintain a $500 balance. When they maintain a balance of $1,000, they can access numerous activity discounts. If the balance is under $400 at any time, a $2.95 service fee is charged.

First Service Bank

First Service Bank‘s Earn Checking account allows people to receive interest and rewards. Customers can access online banking and bill pay services, e-statements, mobile banking, and ATMs nationwide. Those with at least $20,000 in their account earn a healthy APY. The bank has a $100 minimum opening balance and a $5 monthly service fee.

Anstaff Bank

Anstaff Bank has checking accounts with numerous advantages, including access to free direct deposits, online banking, bill pay services, and a mobile app. Beyond that, different accounts have different benefits. For example, the Privileges Checking account allows customers to make unlimited transactions without a minimum balance requirement. However, this account does have a $6 monthly service charge. Similarly, the Rewards Checking account is an interest-earning checking account with no minimum balance requirement, and customers can be refunded on ATM fees up to $20.

Find the Best Checking Accounts in Arkansas

Hundreds of financial institutions in Arkansas offer checking accounts, and there’s strong competition among them to offer the best perks and the lowest fees. Use the list below to find the best checking account to fit your financial goals.

Pros & Cons of Local Arkansas Banks

Some pros and cons come with doing business with any bank, and local banks in Arkansas are no exception. Let’s look at some of the benefits and drawbacks of regional banks.


  • Local banks support community members and may provide financial opportunities not available from national banks to help the community grow.
  • Customer service feels more caring and personal.
  • Interest-bearing checking accounts may have higher rates.
  • The money these banks receive goes back into the local community.
  • The fees charged on accounts are often competitive.


  • Customers may not have access to a lot of ATMs
  • Branches may have limited hours of operation, making it challenging to do in-person banking
  • Local banks don’t always provide services based on the latest trends in banking
  • If you want to do your banking online, some local banks may not have many digital options
  • There may not be a large variety of accounts you can open

What to Consider When Choosing a Checking Account in Arkansas

When you’re looking for a checking account in Arkansas, chances are you have specific ideas about what you want.

You may be interested in an interest-bearing account that will help boost your finances, or you may wish to conveniently make deposits on a mobile app.

As you think about what to look for when choosing a checking account in Arkansas, consider the features below.


Monthly, overdraft, insufficient funds, or ATM fees can really eat into your checking account balance. The best types of accounts have the most negligible fees, although some fees may be unavoidable in some cases.

You want to air on the side of the checking account in Arkansas with the least fees and the most opportunities to waive them, such as with ATM fees.

ATM and Branch Access

You want a checking account that gives you the most convenient access to your money. If you make a lot of withdrawals, the more ATMs in a bank’s network, the better, so you don’t incur fees. Or you may prefer a bank with several branches so you can conveniently do your banking in person.

Whatever your preferences are, the best banks will give you enough options to easily withdraw your money without worrying about being charged fees.

Interest Rates or Bonuses

Most of the time, checking accounts don’t accrue interest, but some banks offer interest-bearing checking accounts. Also, to help make checking accounts more attractive, some banks will provide bonuses for qualified purchases on debit cards.

The best banks will have both features, but this may be hard to find. If you open a checking account with one of them, it’s not a bad deal.

Mobile Banking

Whether you want to make peer-to-peer transfers, deposit funds, or just monitor your checking account balance, a mobile app will make these activities easier.

The more options you get from a mobile banking app, the more useful it is. As a result, the best banks will have a robust app with many features.

Online Checking for Arkansas Residents

For many consumers, online checking accounts can be a convenient way to do their banking, but they’re not suitable for everybody. As with local banks, it’s essential to understand what online banks offer.

Let’s look at a few of them to get an idea.

Varo Bank Checking

Varo Bank offers an online checking option that provides a seamless banking experience without physical branches. With features like early direct deposits and Varo Perks offering up to 15% cashback on purchases, it stands out among its online banking peers. However, limitations such as cash deposit restrictions and out-of-network ATM fees should be considered.

Varo Bank suits those comfortable with digital banking, prioritizing fee transparency and user-friendly interfaces. While it lacks traditional banking services like loans, its simplicity and convenience make it attractive for people seeking straightforward online banking solutions.

U.S. Bank Business Checking

The U.S. Bank business checking account is a practical option for entrepreneurs and small business owners with modest transaction volumes who prioritize in-person banking convenience.

With a broad network of branches and 24/7 customer service, it offers accessibility and shared account access for streamlined financial management. However, potential users should consider its limitations, such as transaction caps, out-of-network ATM fees, and monthly service fees for certain account tiers.

While it provides mobile banking capabilities and various tools like check risk management, its interest rates may not be as competitive as online banks.

BMO Harris Checking

BMO Bank offers a range of checking accounts suited for various financial needs, making it a contender for those seeking traditional banking experiences.

With over 500 branches and a vast ATM network, accessibility is a notable advantage, allowing customers to manage their finances conveniently. While monthly maintenance fees are typical, BMO provides options for fee waivers, particularly appealing to those who prefer in-person banking. However, interest rates for savings accounts may not compete with online banks.

With a low minimum deposit requirement and the ability to open multiple accounts, BMO accommodates diverse banking preferences. Online and mobile banking access enhances account management, complementing the brick-and-mortar experience.

Pros & Cons of Online Checking Accounts

Are you wondering about whether or not you should dive into online banking? Although there are many benefits, there are also some drawbacks. Below are some pros and cons of online banking you should know.


  • Your money is FDIC-insured
  • You may be able to take advantage of more mobile banking options
  • Your interest-bearing checking account may earn higher interest than with traditional banks
  • You may be charged lower fees than with traditional banks
  • You have access to 24-hour customer service


  • Online banks have no connection to the local community
  • Customers who enjoy a personal relationship with their banks are unable to form one with an online bank
  • Making cash deposits may be difficult
  • Face-to-face banking is not an option because there are no branches
  • Banking solutions may be limited if you want certain types of accounts

How to Choose: Arkansas Local Bank vs. Online Checking Account

Whether an online or a local bank in Arkansas is the right choice depends on your specific needs.

If you need to make cash deposits, a local bank is the best option because you’ll have access to face-to-face banking branches and a network of ATMs.

If this isn’t a concern, and you feel comfortable doing your banking virtually, opening an online checking account will give you the convenience you may be looking for.

What to Know About Arkansas Checking Accounts

  • When consumers in Arkansas open a checking account, banks must get documentation proving their name, date of birth, and address. This can include a driver’s license, current passport, birth certificate, utility bill, lease agreement, or Consular ID.
  • Banks in Arkansas require that people have an identification number when they open a checking account. An identification number can be a Social Security Number or an Individual Taxpayer Identification Number, which the Internal Revenue Service provides. Depending on the bank, those who don’t have an SSN or ITIN may be able to use their passport number.
  • Arkansas banks must notify consumers as soon as possible when unauthorized transactions are made on their checking accounts. This law is designed to help consumers protect their accounts quickly and take any necessary action related to identity theft.
About Author
Kenya McCullum
Kenya McCullum is a freelance writer with expertise in personal finance. She writes about personal finance, education, and other topics that are important to consumers.
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