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BankMobile Disbursements FAQ

Who is BankMobile Disbursements?

When it comes to receiving financial aid refunds and other credit balances, you deserve choices! Peralta Community College District has partnered with BankMobile Disbursements to deliver any refund money we may have for you. You will select your refund preference using your personal code which will arrive in your Refund Selection Kit. This kit will be sent in a bright green envelope to your address on file with Peralta Community College District.

 

Why am I getting a Refund Selection Kit?

You will use the unique Personal Code that is included in your Refund Selection Kit to select your refund preference. Once you have your code, follow these easy steps:

  • Visit RefundSelection.com
  • Enter your Personal Code
  • Select how you’d like to receive your money

 

How will I get my Refund Selection Kit?

You will receive your Refund Selection Kit 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.

 

What are my options for receiving refunds?

ELECTRONIC DEPOSIT TO ANOTHER ACCOUNT

Money is transferred to another 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.

 

ELECTRONIC DEPOSIT TO A BANKMOBILE VIBE ACCOUNT

If you open a BankMobile Vibe account (upon identity verification), money is deposited the same business day BankMobile receives funds from your school.

 

PAPER CHECK DELIVERED BY USPS

A check is mailed the same business day BankMobile receives funds from your school, provided receipt is within daily cutoff times. Typically, it takes 5 – 7 business days for the check to arrive, depending on USPS First-Class® delivery timeframes.

 

What kinds of money might I receive as a refund?

The most common types 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.

 

How is my money delivered?

Delivery of refund money is a multi-step process. First, your college or university draws funds from the respective loan and/or grant provider and applies it to your student account. Next, we collect and verify that all the information is correct. Once verified, we send the information to BankMobile Disbursements. Once BankMobile Disbursements receives your specific refund information, it is processed as fast as possible and disbursed according to your selection.

 

How will I know when my money has been sent?

BankMobile Disbursements will send you an email to the address you entered during setup. You can also view the status online or sign up to receive text messages sent directly to your cell phone with convenient Mobile Alerts at RefundSelection.com.

 

Can I change my preference for receiving money?

Yes. Just log in to RefundSelection.com and select “Refund Preferences” from the “Refunds” 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 impact future refunds.

 

What if I don’t make a selection?

Although you might not currently expect to receive a refund, you may receive money back in the future. Making a selection now ensures you’ll always have this money without a delay.

 

How do I set up direct deposit of my paycheck to a BankMobile Vibe Account?

To set up direct deposit, just print out the form available on the BankMobileVibe.com website. To print this form log on to BankMobileVibe.com, click on Add Money and scroll down and click Direct Deposit. On this page, click Print Form and once printed, just hand it to your employer. (Yes, it’s that easy!)

 

Are the BankMobile Vibe Accounts full-service?

Yes. Designed exclusively with students in mind, BankMobile Vibe is a checking account that offers the power to bank anywhere, anytime. Plus there’s no monthly fee for students.

 

What are the key features and benefits of the BankMobile Vibe Account?

Through unique features and functionality designed exclusively for students, BankMobile Vibe empowers and guides students in their pursuit of financial and academic success. Plus there’s no monthly fee for students.

 

Allpoint® ATMs

Say adios to ATM fees, thanks to over 55,000 fee-free Allpoint® ATMs.

 

Passport

Stamp your way to success! Get rewarded for your smart moves in and out of the classroom with the Passport recognition program.

 

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

 

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

 

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:

 

Debit Card On/Off Switch

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

 

 

What if I have additional questions?

Visit BankMobileDisbursements.com/how-it-works to learn more.

 

 

 

 

 

 

 

  • Financial Aid

    Saturday 21 October 2017
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  • Since 1964, the Peralta Community College District - comprised of Berkeley City College, College of Alameda, Laney College and Merritt College - has served the cities of Alameda, Albany, Berkeley, Emeryville, Oakland and Piedmont by providing 25,000 students each semester with a range of educational programs and life-long learning opportunities.
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