We are committed to providing students with clear choices and offering great customer service. BankMobile has been helping students and colleges for over 18 years. Click here to learn more about BankMobile Disbursements.
DEPOSIT TO AN EXISTING ACCOUNT – Money is transferred to an existing account the same business day BankMobile receives funds from your school. Typically, it takes 1 – 2 business days for the receiving bank to credit the money to your account.
At some schools a paper check option may be available.
ENTER your unique Personal Code from the green envelope or email
SELECT how you’d like to receive your money
Don’t have your Personal Code?
Check your mail for the bright green envelope or go here to track it online.
Are you due a refund?
If you don’t receive financial aid, you still may receive money back from the school in the future. After all, you may drop a class or make an overpayment. Going through this process now can ensure you’ll receive any money owed to you by your school in a timely manner.
If you’re due a refund, you’ll get an email from BankMobile letting you know when it’s been processed.
You can also have refund alerts sent directly to your mobile phone. Signing up is easy:
1. Log in to your profile
2. Under the ‘User Profile’ tab, select ‘Mobile Alerts’
3. Follow the prompts. (Text message fees by your service provider may still apply).
The most common type of money BankMobile disburses to students are funds left over from financial aid awards, loans or grants after tuition has been paid. Students receiving these funds have usually requested this additional support to help with books and living expenses. Other types of money may include reimbursement for tuition overpayment or a dropped class. BankMobile uses the term “refund” but your school may have another name for these funds, such as a disbursement, residual or a stipend.
You will use your Personal Code to make your refund selection at RefundSelection.com.
You will receive your Personal Code in the mail at your primary address on file with your school. Just look for the bright green envelope and please make sure your address is up to date. The personal code is also emailed to you using the email address on file with your school.
First, your school draws funds from the respective loan and/or grant provider and applies it to your student account. Once this information is verified, it is sent to BankMobile. Once the specific refund information is received, it is processed and disbursed according to your selection.
Yes. Just log in to RefundSelection.com and select “refund preferences” from the “Refund” menu option. Once on the page, simply make your new selection and click the “Update Preference” button to complete the process. Be aware that your new selection will only affect future money you receive from your school.
BankMobile will send you an email to the email address you entered during refund selection. You can also set-up text alerts or view your refund status online at RefundSelection.com.
The BankMobile Vibe checking account is a digital-only, FDIC insured checking account with access to 55,000 fee-free Allpoint® ATMs, money management tools and a one-of-a-kind recognition program. You can continue to use this account when you are no longer a student and BankMobile also offers an interest-bearing savings account.
Yes. Vibe has no minimum balance requirements and has a $1.99 monthly service fee for all customers effective through May 29, 2019. Effective May 30, 2019, the monthly service fee will be $2.99, however, you may avoid this fee by depositing a total of $300 or more during each statement cycle. Qualifying Deposits include direct deposit, transfers from external bank accounts, check deposits and cash deposits such as those made via Green Dot® Reload @ the Register™. Financial aid refunds or other refunds issued by your school, internal account transfers, fee waivers, fee credits, returned items or dispute credits are not eligible toward the $300 in total deposits. For full details, see our Fee Schedule and Account Terms and Conditions on BankMobileVibe.com.
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