Refund Choices

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.

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

There are multiple ways you can get a code:

• MAIL: Look out for the mailed 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.

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.

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.

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.

The BankMobile 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.

Yes. The BankMobile 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 Checking Account Fee Schedule and Interest Rate Information and Account Terms and Conditions.

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   2. Visit RefundSelection.com
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