Campus gathers refund information and sends it to BankMobile Disbursements.
Campus wires the total disbursement amount to BankMobile Disbursements.
BankMobile Disbursements disburses refunds based on preference selected by the student.
BankMobile Disbursements handles all exceptions and all customer service.
The implementation, or “launch”, will require minimal IT involvement—only approximately 20 hours from IT resources for the whole launch. The launch is fast-paced and lasts for just 8-12 weeks. Launch revolves around five major deliverables to test the program and prepare for the initial rollout to the campus community:
Test demographic file
Refund test file #1
Initial demographic file (pre-determined student population to be messaged)
Refund test file #2
Daily demographic file (new students)
Intro email sent to students and staff/faculty
In-person project kickoff on campus
Introduce student and administrator websites
Operational process testing
Educational materials distributed on campus
Address update campaign
Administrator training continues
Refund processing tested
Demographic data exports
Refund selection kit issuance
Refund program goes live!
There is no hardware or software to install and we integrate with all major student information and transaction systems. Over the years, we have collected scripts written within various ERP systems and will provide references from partner schools to help point you in the right direction.
Security & Compliance
We take security and compliance seriously. If you have been managing your own ACH program, we can help relieve your campus from the liabilities and risks of storing your students’ bank account information and help you comply with new Department of Education regulations.
Disburse PLUS Loan refunds directly to parents.
Do you manage your own program and need to ease the burden? Easily transition your internally managed direct deposit refund program to the BankMobile Refund Management service and alleviate data security and compliance concerns.
Handle payroll services for students, faculty and staff electronically to ensure timeliness and accuracy.
On Campus Support
BankMobile Disbursements also provides unique support to students where they are—on campus. Our Campus Education Specialists can educate students one-on-one about what a financial aid refund is, how the refund process works and what their choices are so they make the decision that best fits their individual needs. BankMobile’s award-winning $tart with Change program offers students financial literacy tools, resources and education to help them make smarter everyday decisions that can put them in control of a successful financial future.
Available regardless of financial history (upon ID verification)
No monthly fee for students
No minimum balance requirement
No overdraft or NSF fees
No offers of credit or overdraft protection
Fee-free ATM access to over 55,000 Allpoint® ATMs (the largest surcharge-free ATM network)
Free Money Meter budgeting tool
Free SnapShot mobile money management feature
Free photo bill pay
OneAccount Passport, a recognition program for good financial behavior and academic performance
On/Off switch to temporarily disable the account’s debit card
MasterCard® Zero Liability protection
Account holders also have access to $tartwithChange.com, a student-oriented website providing tips, tools and videos on financial literacy, responsible spending and smart saving from our in-house experts.
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