Intro – Bank of the Ozarks Review
Bank of the Ozarks was recently ranked and reviewed by AdvisoryHQ as a top rated bank.
Firms on our top rated lists were selected after they successfully passed AdvisoryHQ’s ground-breaking four-step banks and credit unions selection methodology.
Click here for a step-by-step breakdown of our methodology process and selection process: AdvisoryHQ’s Methodology for Selecting Top Banks and Credit Unions.
Below we have provided a detailed review of Bank of the Ozarks, including the specific factors we used in our decision-making process.
Bank of the Ozarks Review
A community bank, the Bank of the Ozarks has more than 100 years of history and prides itself on focus and strength when it comes to building long-lasting customer relationships.
This bank is headquartered in Little Rock, Arkansas, but has grown to include more than 250 locations throughout the Southeastern region.
Part of this growth is due to the acquisition of Community & Southern Bank in July of 2016, solidifying Bank of the Ozarks as one of the best banks to consider banking with.
Bank of the Ozarks has locations throughout not only Arkansas but also Texas, Georgia, the Carolinas, Alabama, and Florida.
Key Factors That Led to Our Ranking of This Bank as a Top Banking Firm
The list below represents the primary reasons Bank of the Ozarks was selected for this top list of banking firms.
Bank of the Ozarks Review: Apple Pay
Bank of the Ozarks account holders can now utilize Apple Pay, which makes it more secure, faster, and generally more convenient to make purchases at participating retailers. Transactions can be made directly from an Apple device, including an iPhone, iPad or Apple Watch.
All users need to do in order to take advantage of this advanced offering is to add their Ozarks banking card to the Wallet App, and then it can be used at more than one million retailers.
The big advantages of using Apple Pay are that merchants don’t ever have access to card numbers, and Apple doesn’t store transactions.
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Bank of the Ozarks Review: My Change Keeper
A signature offering from Bank of the Ozarks, My Change Keeper is a free add-on for any checking account with the bank.
Each time a participating account holder uses their Bank of the Ozarks Visa Debit Card, the bank rounds the total up to the nearest dollar amount.
You can also specify an amount if you’d like, which helps customers jumpstart their savings efforts.
You can also choose to have the My Change Keeper amount deposited directly into a savings account or into the account of a family member.
Photo courtesy of: Bank of the Ozarks
Bank of the Ozarks Review: Overdraft Protection
Bank of the Ozarks operates along with the assumption that sometimes unexpected things happen in life, which is why they offer overdraft protection options to customers.
With Bounce Proof Security, customers won’t have to deal with the embarrassment of a denied transaction or a returned check, because those amounts are automatically paid up to a certain limit.
This is a benefit provided to checking account holders, and overdrafts are paid with a maximum of $500. Overdrafts must be paid back within 30 days.
Account-holders must enroll to enjoy the benefits of Bounce Proof Plus. While there is no fee for the service itself, there is a standard fee of $35 per declined item or returned check.
With Safety Link, funds are automatically transferred from another Bank of the Ozarks account if the holder’s checking account has insufficient funds. The fee for Safety Link is $10 per transfer.
Bank of the Ozarks Review: Free Bill Pay
Online Bill Pay options from Bank of the Ozarks are not only free but also incredibly convenient.
With Online Bill Pay service, users can protect themselves against the potential of identity theft that comes from traditional bill payment, and it’s a good way to avoid the potential for lost bills or payments.
Users of Online Bill Pay from Bank of the Ozarks can pay almost anyone online, manage their bills from one user-friendly screen, select the amount and dates for payments to be sent, and schedule recurring or one-time payments.
Customers have the ability to review up to six months of transaction history and can check payment status at any time.
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