Payroll
Payroll service
Our payroll service enables colleges and universities to take advantage of an innovative way to issue paychecks. Utilizing the same process as our Refund Management® service, your institution can cut costs and distribute payroll to both students and employees.
Benefits for your institution:
- Manage refunds and payroll through one website and one company
- Reduce exposure to risk, as we collect, store, and protect all banking data
- Minimize lines and the need for check cashing or depositing
- Helps eliminate or reduce manual, paper processes on campus
- Transition seamlessly to a process similar to the Refund Management service
- We handle all inquiries and customer care
Benefits for your employees:
- Faster access to money through electronic choices, including a electronic option for receiving Federal Work-Study almost instantly
- Email receipt for payroll availability and availability of online payroll history
- Convenient website that allows students and employees to manage refunds and payroll in one place
- Online access makes it easier for anyone to change payroll preferences at any time
- Underbanked employees have the opportunity to open an electronic checking account, regardless of financial history
Operationally, your institution will be using the same process used for Refund Management. You’ll only need to send one file and one wire to fulfill your payroll requirements. For financial aid students who have already completed the refund selection process, their payroll preference will automatically be set to match the refund preference they’ve already chosen.
- Deposit to an existing account
- Deposit to a BankMobile Checking Account
- Paper check delivered by USPS
We are operational Monday through Friday on official banking days only. Banking holidays include:
- New Year’s Day
- Martin Luther King Jr. Day
- Presidents’ Day
- Memorial Day
- Independence Day
- Labor Day
- Indigenous Peoples' Day
- Veterans Day
- Thanksgiving Day
- Christmas Day