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Ivy Tech has partnered with BankMobile Disbursements to offer the following refund options:
- BankMobile Vibe – Money is deposited to this checking account the same business day that BankMobile receives the funds from Ivy Tech. Funds are sent 2 business days after the refund posts on your account.
- ACH/Direct Deposit – Deposit refunds into your existing personal checking or savings account. Ivy Tech wires funds to BankMobile 2 business days after the refund posts on your account. Your bank will reflect the deposit in an additional 1-2 business days.
The BankMobile Vibe account is one of the most student-friendly accounts available on the market. The new account will have no monthly fee for students, no inactivity fee, no overdraft fees, no point-of-sale/PIN fees, no teller withdrawal fees, no check ordering fees, and no fee to talk to a customer service agent. In fact the account will only carry three fees:
- $3.00 for using an out-of-network ATM (outside of the new network of 55,000 ATMs)
- $25 for a wire transfer
- $10 to replace a bank card
Shortly after enrolling in the college, new students are mailed a green envelope from BankMobile which explains how to select a refund preference. You will be directed to MyIvy > Student/ Billing and Financial Aid > Select Refund Preference. After entering your e-mail address and creating a password, you can choose one of two options for receiving your refund. You do not have to wait for the green envelope; you can go directly to the link on MyIvy. As stated above, your refund options are ACH to your existing personal bank account or opening a BankMobile Vibe account. That link will only work if you are enrolled and have been assigned a student ID number. If it doesn’t connect you to BankMobile’s refund website, please allow another two business days for Ivy Tech to transmit your information to BankMobile.
Even though you might not be expecting a refund, we encourage ALL students to select a safe, efficient refund delivery preference right away.
Once you have selected your refund preference, you can use the Manage My Refund Account link in MyIvy to sign in to your BankMobile account, update your mailing address, or change your refund preference.