FAQs for the new BankMobile Program For Students
- Why is SWC doing this?For years, students have been asking us to find a way to allow them to have their financial aid disbursements automatically deposited to their checking accounts, rather than having for wait for a check to arrive in the mail. This is a direct response to those requests. The BankMobile solution allows us to offer this service to students, ensuring funds are delivered faster and safer, while reducing processing time and minimizing costs.
- Why did I receive a card in the mail?
You received a Refund Selection Kit in the mail because you have been identified as an SWC student who has been awarded financial aid for the current academic year. Students who will be receiving financial aid disbursements are the ones we are asking to make a choice of how they would like to receive their disbursements in the future.
- What are my options for receiving my funds now?
You have three options for receiving you financial aid funds – you may have them electronically deposited to your current checking account, you may open an account with BankMobile (for those students who do not currently have checking accounts) or you may continue to receive paper checks, as in the past. We want you to choose the option that works best for you.
- I already have a checking account. Do I need to open a different one with BankMobile?
No. You can absolutely use your current checking account to receive your Financial Aid disbursements – in fact, we encourage you to do so. Students will also have the option of opening a new account with BankMobile or continuing to receive paper checks – the choice is yours. We want you to make the choice that works best for you.
- Are there fees for this service?
No. There is no fee for receiving your financial aid. However, if you choose to have your funds electronically transmitted to your current bank or to a BankMobile account, you would be subject to your bank's standard account fees (click here to access BankMobile's fee schedule). If you choose to receive a check, it may be subject to check cashing fees, depending on where you choose to cash it. However, no money from your financial aid disbursement is ever deducted for this purpose.
- What happens if I don’t select a refund preference?
If you do not complete the process letting us know your preference, your funds will be held for up to 21 days, pending the completion of your selection. If you have still not completed the selection within 21 days, a check will be mailed to you. Remember – the sooner you complete the process, the sooner you’ll have your money in your hands.
- Do I have to sign up at the beginning of each school year?
No. Once you make your choice for your disbursements from Southwestern College, it is in effect for your entire length of attendace here and you do not have to sign up again. However, you can chance your preference whenever - and as many times - as you wish.
- I have a BankMobile Vibe account at another school. Can I use it at Southwestern?
No. You cannot use an account at another school to receive funds here. It will be necessary for you to complete a refund selection kit from Southwestern in order to receive your funds.
- What’s the deadline to sign up?
While there is no actual deadline, we encourage all students to complete the refund selection process no more than 5 days after you receive your kit. This will ensure a seamless transition, and that you experience no delay in receiving funds.
- How will I know if my money has been sent?
You will receive an email from BankMobile when funds have been dispersed. You may also check the Financial Aid Disbursement schedule on our website.
- What if I move? What do I need to do?
If you move, PLEASE update your address in BOTH BankMobile AND WebAdvisor. These databases are not interactive, so a change of address must be entered in both places to ensure all necessary communication continues to reach you. Please be sure to use your mailing address.
- I received a green envelope for sign up but my friend didn’t. How come?
Only students who have already been awarded financial aid will be receiving refund selection kits. It is possible your friend’s processing is not yet complete or that he/she was not awarded.
- Who is included in this program?
This program is only for SWC students who have been awarded financial aid, such as Pell Grants, Federal Loans, Cal Grants and SEOG. Students receiving only BOGFW do not need to sign up and will not be receiving one of the green envelopes in the mail.
- I’m a student at one of the HECs and I’m not at the main campus. What if I need help?The Education Center Techs have been trained on the BankMobile process and can offer assistance. You can also email us your questions email@example.com and take advantage of the instructional videos on the website as well.
- Will there be a place to get cash for students who elect a HigherOne account?
Yes, we have installed two Allpoint ATMs - one at the Student Center and one at the San Ysidro HEC students wishing to withdraw funds fee-free from their BankMobile Vibe accounts. Non-BankMobile Vibe account holders may also use these ATMs, but will be subject to an ATM user fee.
- I’ve changed my mind about how I want to receive my disbursement. Am I stuck with my choice?
No. You many change your choice whenever you want, as many times as you want. Simply log on to www.RefundSelection.com and change your preference.
- What if I have more questions?
For more information, please contact the SWC Financial Aid Office, contact BankMobile Customer Care at 1-877-732-0440 or access the EasyHelp link.