Refund Choices

YOUR SCHOOL UTILIZES BANKMOBILE DISBURSEMENTS TO DELIVER YOUR REFUND

When it comes to deciding how to get your money, you deserve choices. Your choices include:

DEPOSIT TO AN EXISTING ACCOUNT – Money is transferred to an existing account the same business day we receive funds from your school. Typically, it takes 1 – 2 business days for the receiving bank to credit the money to your account.

DEPOSIT TO A BANKMOBILE VIBE CHECKING ACCOUNT – If you open a BankMobile Vibe Checking Account (upon identity verification), money is deposited the same business day we receive funds from your school.

At some schools a paper check option may be available.

To Get Started:

Look for your personal code. There are multiple ways you can get a code:

• MAIL: Look out for the green envelope. Your code will be sent to the address you have on file with your school.
• EMAIL: We will send you an email with your code.
• ON DEMAND: Visit RefundSelection.com and click on the Need A Code? link. You may use any personal code assigned to you to make your refund preference selection.

 

Once you have your code, follow these easy steps:
Step 1

VISIT refundselection.com

Step 2

ENTER your unique Personal Code

Step 3

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, we’ll send you an email 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. (Message and data rates may apply, please see your provider for details.)

FAQs
What kind of money might I receive?

The most common type of money we disburse 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. We use the term “refund” but your school may have another name for these funds, such as a disbursement, residual or a stipend.

Why am I getting a Personal Code?

You will use your Personal Code to make your refund selection at RefundSelection.com.

How will I get a Personal Code?

There are multiple ways you can get a code:

  • MAIL: Look out for the green envelope. Your code will be sent to the address you have on file with your school.
  • EMAIL: We will send you an email with your code.
  • ON DEMAND: Visit RefundSelection.com and click on the Need A Code? link.

You may use any personal code assigned to you to make your refund preference selection.

How is my money delivered?

Delivery of refund money is a multi-step process. 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 by your school, it is sent to our partner bank. Once the specific refund information and funds are received, it is processed and disbursed according to your selection.

Can I change my refund preference for receiving money from my school?

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.

 

Please note, there may be circumstances where your ability to change your refund preference may be restricted. For example, if we become aware of potential ID theft or compromised account.

How will I know when my money has been sent?

We send you an email to the address you entered during setup or you can view the status of your refund online at RefundSelection.com.

What is the BankMobile Vibe Checking Account?

The BankMobile Vibe Checking Account is a digital-only, FDIC insured checking account with access to 55,000 fee-free Allpoint® ATMs (ATM availability varies by location), 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 we also offer an interest-bearing savings account.

Does the BankMobile Vibe Checking Account have a monthly service fee?

Yes. The BankMobile Vibe Checking Account has a $2.99 monthly service fee, however, you may avoid this fee by making Qualifying Deposits totaling $300 or more per statement cycle. 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 awards, internal account transfers, fee waivers, fee credits, returned items or dispute credits are not eligible toward the $300 in total deposits. For more information, see the BankMobile Vibe Checking Account Fee Schedule and Interest Rate Information and Account Terms and Conditions.

What if I have additional questions?
    1. Get easy answers anytime by using our online FAQ database
    2. Visit RefundSelection.com
    3. Call Customer Care: 1-877-327-9515
    4. Twitter @askbmd
    5. Facebook @bankmobiledisbursementsfaqs

Learn more about the BankMobile Vibe Checking Account

The BankMobile Vibe Checking Account offers the power to bank anywhere, anytime. This is one of your electronic options to receive your refund.
We assist students in reaching their financial goals through the BankMobile Savings Account.
FEATURES
Passport

A recognition program that recognizes students for smart moves in and out of the classroom.

Allpoint® ATMs

Say goodbye to ATM fees, thanks to over 55,000 fee-free Allpoint ATMs (ATM availability varies by location).

Debit Card On/Off Switch

Temporarily turn off your card to help protect against unauthorized use in the event your card is misplaced.

Snapshot

Master your financial universe by setting up reserves to achieve your financial goals. This convenient mobile feature does the math for you and gives you a more accurate view of your financials by delivering a financial snapshot.

Bill Pay

Make bill-paying faster, easier and more secure. With Online Bill Pay you can:

• Set up recurring payments

• Manage Bill Pay recipients

• View payment history

Money Meter

Manage money in minutes with Money Meter, the BankMobile Vibe accounts interactive budgeting tool. Use it to:

• Track your spending

• Set up monthly budgets in multiple categories

• Monitor your cash flow

• View your spending history