Financial Aid Disbursement
We have partnered with BankMobile to deliver our financial aid refund. Partnering with BankMobile Disbursements, allows the college to refund students using secure and efficient delivery methods. Having refund options increased student customer service and processing costs were reduced. This contract also allows students more methods of receiving their refunds.
Ensure your mailing address is current
For starters, make sure your mailing address is up-to-date. An address file with important information for BankMobile is sent periodically. It is important that you receive the BankMobile Refund Selection Kit and that BankMobile receives your instructions on how you would like to receive your refunds.
If you have moved or will move at the start of the quarter, also submit your change of address notification to the US Postal Service to avoid delays. Look for the bright green envelope from BankMobile. The instructions inside and personal code will lead you through the set-up process.
How to review and update your address
- Go to the YVC home page and click on the Student Portal at the top of the page
- Click on My Personal Information
- Verify or update your mailing address and email address
Decide how you want to receive your refunds
The BankMobile Refund Selection Kit will help your get the money delivered to you in one of three ways.
- Electronic deposit to another account
- Money is deposited to another account the same business day BankMobile receives funds from the college. Typically takes 1-2 business days for the receiving bank to credit the money to your account.
- Electronic deposit to a BankMobileVibe 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 mailed the same business day BankMobile receives funds from the schpool, provided receipt within daily cutoff times. Typically, it takes 5-7 business days for the check to arrive.
All financial aid refunds are processed through BankMobile Disbursements, so you need to select one of the refund methods. If you do not make a refund preference, the default action is that BankMobile will send a paper check approximately two weeks after your funds have arrived on your BankMobile record.
- Remember: Even if you are not currently expecting a financial aid refund, you may have one in the future or you may have a refund if a class is canceled or you change your schedule, so set up your account right away.
How do I choose my refund preference?
Your BankMobile Disbursements selection kit includes a letter with your personal code. Visit www.RefundSelection.com, enter the email used on your ESC account and the personal code which looks like ABCD-1234-5678. When your email and personal code are validated, you will then have access to your BankMobile record. At that point you may get started and chose your refund preference using the prompts on their website.
If you plan to use the bank transfer (ACH), you will need to have your bank routing and account numbers to enter on their secure site. If you choose a paper check, you will need to ensure your address is accurate.
If you lose or never receive the selection kit, you may send an email to email@example.com.
Am I going to be charged fees in order to get my refund?
Refund options of a bank transfer (ACH) to your own bank account and a BankMobile paper check do not have any fees associated with them. Opening a BankMobile Vibe account is also free of charge; however, you may be subject to fees for nonstandard banking services. These fees are disclosed in BankMobile’s Fee Schedule found online.
Do I have to open a bank account with BankMobile Disbursements in order to receive my refund?
No. If you prefer not to open a BankMobile debit account, you may opt for a bank transfer to your own bank account or a BankMobile paper check.