Refunds and BankMobile
WSSU and BankMobile have partnered to deliver students’ financial aid refunds.
Every two weeks after the April dates as aid is disbursed.
*Please note that your financial aid has to be fully disbursed (in the Payment column on Banner Rams) and a credit/negative amount showing on your account to receive a refund. The date of your refund will depend on when the credit balance shows on your account.*
- Refunds due to students will be issued after all financial obligations are satisfied.
- Refunds are not issued on anticipated funds.
- Refunds cannot be picked up in the Student Accounts Office.
Your options for receiving your refund are listed below. We highly recommend choosing a direct-deposit option (choice 1 or 2). If you fail to make a selection your check will be mailed to you, which could take 21 or more days to reach you.
- Direct Deposit to an Existing Account – Money is transferred to an existing 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.
- Direct Deposit to a BankMobile Vibe Checking Account;#8211; If you open a BankMobile Vibe Checking Account (upon identity verification), money is deposited the same business day BankMobile receives funds from your school.
- Receive Your Refund Via US Mail (Not Recommended)—We highly recommend using direct deposit to receive your refund. It may take 21 or more days to receive your refund via US Mail. Also, it is the least secure and least convenient option.
- Please note that your refund check cannot be picked up at the Student Accounts Office.
Benefits of Using BankMobile Direct Deposit
- No lost or stolen checks or delay with the mail.
- No running to the bank to deposit your funds and waiting for the check to clear.
- No special arrangements or fear of not receiving your money because you’re not at home, studying abroad or not moved into your apartment yet.
- No frustration. You’re in control.
Disadvantages of Getting Your Refund by Mail
- It may take 21+ days for you to receive your check.
- Check may be misplaced or lost in the mail.
- May not clear in your bank for several days.
- No ease of access.
- Credits that are the result of a Parent PLUS loan will be refunded directly to the student or parent.
- If the parent, the borrower of the loan, wishes to have the refund check made payable to them, during the application process they must check the appropriate box on the Parent Plus Loan Application when applying for the loan.
- Likewise, if the parent would like to have the funds made payable to the student they must indicate so by checking the appropriate box on the application.