Don't Delay School Refunds To Your Student

Student female sitting crosslegged on the floor with her laptop in her lapStudent female sitting crosslegged on the floor with her laptop in her lapStudent female sitting crosslegged on the floor with her laptop in her lap

Help your student choose how they want their money delivered today!

Your student’s school partners with BM Technologies, Inc. to deliver refunds with our disbursements program. Schools refund money to students who have leftover funds from financial aid, loans, or even from a dropped class. Selecting a refund delivery method with our disbursements program ensures your student will receive their funds in the quickest, most reliable, and safest method possible.

Your student can have access to their funds either same business day or up to 2 business days, depending on their choice. A refund delivery method should be selected even if they are not expecting a refund. There could be a refund in the future, and your student can be prepared to receive their money without delay.

If a refund preference is not selected, it may take up to 21 days for your student to receive their money. Don’t let them wait!

We will always offer two electronic options for receiving school refunds:

Transfer to an existing account

Money is available 1 – 2 business days after we receive the funds from the school (upon identity verification).

Image of a generic debit card with the words "Your Bank'

Deposit to a BankMobile
Checking Account

Money is available (upon identity verification) the same business day we receive the funds from the school.

Image of the BankMobile debit card

Have your student follow these steps to select their refund delivery method today!

A phone screen of the refund selection choice screen.

Step 1

VISIT RefundSelection.com

A phone screen of the refund selection choice screen.

Step 2

ENTER the personal code we sent via email and may have sent via a green envelope in the mail. If a new personal code is needed, request one at RefundSelection.com under the “I need a code” section.

A phone screen of the refund selection choice screen.

Step 3

SELECT how you’d like to receive your money.

Make your refund selection

Understanding the refund process:

RECEIVING: The school receives a student’s financial aid, loan, or grant money from the respective provider.

CALCULATING: The school then subtracts their tuition and fees from this amount. The leftover money is known as a refund.

PROCESSING: After the school process the refund, they send the money to us.

DELIVERING: We release the funds according to the student’s selected delivery method the same day we receive the funds from the school. It may take up to 21 days for your student to receive their money if no preference is selected.

Young woman sitting and looking at her phone.

FAQs

What is our disbursements program?

Our disbursements program is a service provided by BM Technologies, Inc. that helps colleges and universities across the U.S. deliver refunds to students. We have been helping students for over 20 years! In fact, we partner with over 700 campuses, serving one in every three students receiving refunds in the U.S.

Why do schools refund money?

Schools refund money to students who have funds leftover from financial aid awards, loans, or grants. Refunds can also come from overpayments and dropped classes. Students need to have access to this money as soon as it is available.

What do students need to do to get their money without delay?

Students need to visit RefundSelection.com and select how they would like any possible refunds delivered to them. If they do not choose their delivery preference, it could take up to 21 days to receive their money.

How can students choose to have their money delivered quickly?

By choosing an electronic option, students can receive their money the same business day or up to 2 business days from when we received the funds from the school. If your student attends one of our partner schools, they will receive a personal code from us in the mail and by email. They will use this code to start the process of choosing how they want their money delivered. If they can’t find their code, they can visit RefundSelection.com and request a new one.

Why should students choose a refund delivery method if they are not expecting a refund?

Your student might not currently expect money from their school, but they may receive a refund in the future. After all, they may drop a class, make an overpayment, or apply for a loan to pay for off-campus housing, for example. Establishing a refund preference now ensures they will always have this money without delay.
Please note, there may be circumstances where your ability to change your refund preference may be restricted. For example, if we become aware of potential ID theft or compromised account.

What if I have additional questions?

Get easy answers anytime by using our online FAQ database
‍Visit RefundSelection.com
‍Twitter @askbmd
Facebook @bankmobiledisbursementsfaqs