Refund Management - Student Experience - BankMobile Disbursements
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Student Experience

BankMobile Disbursements puts students first. We handle all student refunds on behalf of your institution—regardless of the disbursement method they choose. Every student will experience:

  • A clear, neutral and transparent online process for selecting how they want their refunds.
  • Fast, reliable and secure access to their funds.
  • A choice in how they receive their refund. Choices include deposit to another account or electronic deposit to a BankMobile Vibe account.
  • Optional text alerts on the status of their refunds, regardless of how they receive them.
  • Free customer service through a customer support line, online FAQs, email and social media.

BankMobile Vibe

BankMobile Vibe is a digital-only, interest bearing FDIC-insured checking account available to students at your school. Features and benefits include:

  • Accountholders can earn 3% APY on balance up to $1,000 with qualifying deposits*
  • Fee-free ATM access to over 55,000 Allpoint® ATMs (the largest surcharge-free ATM network, (ATM availability varies by location)
  • Free Money Meter budgeting tool
  • Free SnapShot mobile money management feature

  • Passport, a recognition program for good financial behavior and academic achievements
  • On/Off switch to temporarily disable the account’s debit card
  • Optional interest-bearing BankMobile Savings Account
  • No minimum balance requirement

*Vibe Checking Account holders who make Qualifying Deposits totaling $300.00 or more per statement cycle, will qualify for interest on their Vibe Checking Account. An interest rate of 2.96% will be paid for average daily balances up to $1,000 with an Annual Percentage Yield (APY) of 3.00%. An interest rate of 0.01% will be paid only for that portion of the average daily balance that is greater than $1,000 resulting in an APY range of 3.00% to 0.04%, depending on the balance in the account, assuming a maximum average daily balance of $115,000.00. Qualifying Deposits include direct deposit, transfers from external bank accounts, check deposits, point-of-sale deposits and cash deposits such as those made via Green Dot® Reload @ the Register™. Financial aid refunds or other refunds issued by your school, interest earned on your account, promotional credits such as cash back rewards, internal account transfers, fee waivers, fee credits, returned items or dispute credits are not eligible toward the $300 in total deposits. APYs are accurate as of 5/30/2019 but may change at any time at our discretion. Fees may reduce earnings. A withdrawal from your account will reduce earnings. For more information see the BankMobile Vibe Checking Account Fee Schedule and Interest Rate Information and Account Terms and Conditions.

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