If you are a business owner, DO NOT use Arizona Bank & Trust! They are NOT friendly to businesses and will nickel and dime you with fees.
Arizona Bank & Trust began charging a number of additional fees at the height of the recession. Of course the bank has the right to charge fees, but Arizona Bank & Trust did not inform business customers of these fees nor would it respond to written requests for explanation. The fee statements are complex, difficult to understand and have multiple line items of charges which appear to be the same thing. They will even charge you a "Foreign Currency Exchange Fee" to all business accounts even if you do not deal with foreign currency. The only thing the "personal banker" would say was "we just added this fee to all of our business accounts... So everyone has to pay it". Obviously, the bank has the right to charge any fee it desires so long as the customer is willing to pay it. However, I feel a bank does not have the right to begin charging fees without due process and notice to the customer and/or fail to explain in simple language the fees which are being charged. Your monthly fees will also vary significantly as Arizona Bank & Trust uses complex formulas to calculate these fees.
Given the financials filed by Arizona Bank & Trust with the FDIC over the past 3 years, it is apparent the bank is looking to increase revenue anyway it can. Arizona Bank & Trust will nickel and dime you with fees... Don't do business with them!
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