Refund Disbursement Process: BankMobile Disbursements
Peninsula College has partnered with BankMobile Disbursements, a financial services company serving higher education, to provide a responsive method for students to receive their financial aid and scholarship funds.
With this fund disbursement process, you will now have the ability to access these funds after you receive your Refund Selection Kit from BankMobile. It will be sent to the mailing address you have provided to the college. (Therefore, it is critical that you verify your mailing address as soon as possible at www.pencol.edu/current-students and click on Address Change. You will need your SID and PIN.)
All financial aid awards are automatically used to pay your tuition and fees before the start of each term. If your award exceeds the cost of your tuition, you will receive the remaining balance of your funds through the option you chose with your Refund Selection Kit. When you receive your Refund Selection Kit, log on to www.RefundSelection.com. Enter the Personal Code supplied inside and create your login information. Your new Refund Selection Kit is designed to provide you with increased choices to access financial aid, scholarship or school refunds. These options include:
Electronic Deposit to Another Account
Money is transferred to another 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.
Paper Check Delivered by USPS
A check is mailed the same business day BankMobile receives funds from your school, provided receipt is within daily cutoff times. Typically, it takes 5-7 business days for the check to arrive, depending on USPS First-Class delivery timeframes.
Electronic Deposit to a BankMobile Vibe Account
If you open a BankMobile Vibe account (upon identity verification), money is deposited the same business day BankMobile receives funds from your school.
Look for the green envelope in the mail from BankMobile and Peninsula College.
Watch this video for help on making a refund preference selection.
BankMobile Frequently Asked Questions:
- Only new students will receive a Refund Selection Kit in a green envelope with a Personal Code to validate identity.
- If you choose the BankMobile account, a BankMobile Vibe Card will be sent by mail to your address provided in approximately 5-7 business days.
- An Allpoint Network ATM is available on campus in the Pirate Union Building (PUB) as well as these additional sites: www.allpointnetwork.com
- If you choose the BankMobile Vibe Card, there may be fees associated with some banking services, please visit https://www.vibeaccount.com/studentaccount/feeschedules.do for more information.
- At any time, you may contact BankMobile through www.refundselection.com or Tweet them @AskBMD (do not include sensitive information)
- To view our institution's contract with BankMobile, a Division of Customer Bank, please visit https://www.vibeaccount.com/swc/doc/landing/4ormm0vq09bjwow56b1c
