Don’t Delay Your School Refund
Your school partners with BMTX, Inc. to deliver refunds with our BankMobile Disbursements service. Schools refund money to students who have leftover funds from financial aid, loans, or even from a dropped class. Selecting a refund delivery method with BankMobile Disbursements ensures you will receive your funds in the quickest, most reliable, and safest method possible.
You can have access to your funds either same business day or up to 2 business days, depending on your choice. A refund delivery method should be selected even if you are not expecting a refund. You could have a refund in the future, and you can be prepared to receive your money without delay.
If a refund preference is not selected, it may take up to 21 days for you to receive your money. Don’t wait!
We will always offer two electronic options for receiving school refunds:
Transfer to an existing bank account
Money is available 1 – 2 business days after we receive the funds from the school.
Deposit to a BankMobile Vibe Checking Account
Money is available (upon identity verification) the same business day we receive the funds from the school.
Follow these steps to select your refund delivery method today!
Step 1
Visit RefundSelection.com
Step 2
Enter the personal code we sent in the mail and by email. If a new personal code is needed, request one at RefundSelection.com.
Step 3
Select how school refunds should be delivered to you.
Understanding the refund process:
Receiving
The school receives a student’s financial aid, loan, or grant money from the respective provider.
Calculating
The school then subtracts their tuition and fees from this amount. The leftover money is known as a refund.
Processing
After the school process the refund, they send the money to us.
Delivering
We release the funds according to the student’s selected delivery method the same day we receive the funds from the school. It may take up to 21 days for you to receive your money if no preference is selected.
Read our FAQs for more information
What is BankMobile Disbursements?
BankMobile Disbursements is a service provided by BMTX, Inc. that helps colleges and universities across the U.S. deliver refunds to students. We have been helping students for over 20 years! In fact, we partner with over 700 campuses, and one in every three students in the U.S. receives their school refunds through BankMobile Disbursements.
Why do schools refund money?
Schools refund money to students who have funds leftover from financial aid awards, loans, or grants. Refunds can also come from overpayments and dropped classes. Students need to have access to this money as soon as it is available.
What do students need to do to get their money without delay?
Students need to visit refundselection.com and select how they would like any possible refunds delivered to them. If they do not choose their delivery preference, it could take up to 21 days to receive their money.
How can students choose to have their money delivered quickly?
By choosing an electronic option, students can receive their money the same business day or up to 2 business days from when we received the funds from the school.
If you attend one of our partner schools, you will receive a personal code from us in the mail and by email. You will use this code to start the process of choosing how you want your money delivered. If you can’t find your code, you can visit refundselction.com and request a new one.
Why should students choose a refund delivery method if they are not expecting a refund?
Students who are not expecting a refund from their school may receive a refund in the future. After all, you may drop a class, make an overpayment, or apply for a loan to pay for off-campus housing, for example. Establishing a refund preference now ensures you will always have this money without delay.
What if I have additional questions?
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- Get easy answers anytime by using our online FAQ database
- Visit RefundSelection.com
- Twitter @askbmd
- Facebook @bankmobiledisbursementsfaqs