What is BankMobile?

Folsom Lake College has partnered with BankMobile to deliver financial aid refunds to students’ personal checking accounts. If you do not have a personal checking account, then you may open an account with BankMobile. We encourage students who are thinking about opening an account to review all fees and choose a bank that best meets their needs. If you are owed a refund, then your college will send the refund to BankMobile to disburse to you. By selecting a refund preference, you have the power to choose how you would like to receive funds.

Refund Selection

Students who receive financial aid need to complete the refund selection process through BankMobile to receive financial aid funding. Students will be notified when the refund selection process can be completed.

The following are your options for receiving refunds:

  1. Electronic deposit to another account
    • Money is transferred to another account on the same business day BankMobile receives funds from your school.
    • This typically it takes one to two business days for the receiving bank to credit the money to your account.
  2. Electronic deposit to a BankMobile Vibe account
    • BankMobile Vibe is a digital-only, FDIC insured non-interest bearing checking account designed specifically for students.
    • If you open a BankMobile Vibe account (upon identity verification), then money is deposited on the same business day BankMobile receives funds from your school.

Visit BankMobile for more information.