Download REFUND INFORMATION and more Summaries Business in PDF only on Docsity!
REFUND INFORMATION
BANKMOBILE
The Cashier's Office coordinates the processing of refunds with the Financial Aid Office and the Controller's Office. Refunds are processed once a week for non-financial aid, financial aid, and PLUS loan refunds.
Nevada State College has partnered with BankMobile, a financial services company focused on helping students like you get the most out of your money. If you are new to this service, it’s only natural that you may have some questions. So, we’ve put together these answers to some of the basics about BankMobile, the process for receiving money from NSC and your BankMobile Account preferences.
WHO IS BANKMOBILE?
Your school has partnered with BankMobile Disbursements to deliver financial aid refunds and other credit balances to students. We are committed to delivering 100% of students' refunds, providing students with clear choices and offering great customer service. Choices include an electronic deposit to another account, a paper check, or electronic deposit to BankMobile Vibe, an optional account designed specifically for students with access to 55,000 fee-free Allpoint ATMs, money management tools and a one-of-a-kind recognition program.
How will I select a refund preference?
After you register for classes, you will receive your selection kit in the mail at your primary address on file.
Keep an eye out for the bright green envelope in the mail…like the one below:
NOTE: Inside will be a personal code. Open the envelope and go to the website on the mailer inside or go to refundselection.com
Your options for receiving your refunds are:
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.
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. (BankMobile account or an existing bank 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. If you choose the BankMobile account, you will receive your new Vibe Card in the mail. You will also have access to a temporary card so you begin using your account right away (depending on availability of funds).
For more information about the bankmobile vibe card please click here https://nsc.edu/cashiers-office/faqs/index.aspx.
Your Vibe Card can serve as your primary bank account, allowing you to get cash from at Allpoint ATMs across the country. You can also write checks, send and receive funds electronically, and monitor your account online. But most importantly, you will be able to have your financial aid refund or any other refund from Nevada State College sent quickly to your BankMobile account!
Is the BankMobile Vibe account a full-service checking account? Yes, the BankMobile Vibe is a full-service and FDIC-insured bank account. Vibe ofers a seamless way to receive refunds, make purchases/access ATMs with a Debit MasterCard; and gain access to a wealth of innovative features like mobile apps, easy online banking and easy ways to make deposits.
If you select a refund preference of BankMobile Vibe, the BankMobile Vibe Card can be used to make purchases wherever Debit MasterCard is accepted. It is important to note that the BankMobile Vibe Card is NOT A CREDIT CARD, but rather a DEBIT CARD backed by the purchasing power of the MasterCard network.
BankMobile is a division of Customers Bank, a full-service commercial bank that is FDIC-insured and is regulated by the Federal Reserve. Deposits made to all BankMobile checking accounts are FDIC insured in conjunction with Customers Bank, Member FDIC, Equal Housing Lender and WEX Bank, Member FDIC. MasterCard is registered trademark of MasterCard International Incorporated. All other names and logos are owned by their respective owners.
More questions about your BankMobile Vibe account? Contact BankMobile directly at 1-866-894-
What if I don’t make a selection? BankMobile Disbursements will not be able to send your refund to you. Regardless of whether or not you anticipate that you will receive a refund, it is important to activate your personal code and choose a refund preference.
Although you might not currently expect to receive any refunds, you may receive money back in the future. After all, you may drop a class, make an overpayment, or simply receive assistance you did not expect. Making a selection now ensures you will always have this money without delay. BankMobile is the only way that refunds are issued to students.
Note: If your refund contains Title IV funds (federal grants and loans), Federal law now requires BankMobile Disbursements to issue a paper check to your home address if you have not made a refund choice within 21 days from the time BankMobile Disbursements received your refund for distribution. Not activating your Personal Code and making a refund choice means it will take about 21 days to receive your refund check in the mail.
Can I change my preference for receiving my refund? Yes. Just log in to your account at www.bankmobiledisbursements.com to complete the process. Be aware that your new selection will only impact future refunds.
When are refund checks mailed? Can I come in and pick mine up? Refund checks are mailed once a week. We no longer process refund checks at NSC. Refunds are delivered to students via BankMobile according to your refund preference when you activate your BankMobile account. We use a third party service who will allow you to choose the delivery of your refund.
Can you tell me how much my refund is for? You are able to view your account information on MyNSC.
When will I get my refund? A refund file will be sent to BankMobile after financial aid and non-financial aid credits are posted to your account weekly. We are in compliance with federal regulations.
How will I know when my money has been sent? BankMobile will send you an email to the address you entered during setup. You can also view the status online at RefundSelection.com
Have additional questions? Visit www.bankmobiledisbursements.com or contact the Cashier’s office.
BankMobile is a division of Customers Bank, a full-service commercial bank that is FDIC-insured and is regulated by the Federal Reserve. Deposits made to all BankMobile checking accounts are FDIC insured in conjunction with Customers Bank, Member FDIC, Equal Housing Lender and WEX Bank, Member FDIC. MasterCard is a registered trademark of MasterCard International Incorporated. All other names and logos are owned by their respective owners.
Why does it take so long to process my refund?
The NSHE refund policy can be found here: http://archive.nsc.edu/Cashiers-Office/Policies-And-Procedures/Cashiers-Office-Polici es-And-Procedures.aspx
Page Updated April 27th 2017
