Effective July 18, 2019

A Guide to BankMobile Services and Fees

It's important to understand how your account works. This guide lists the fees and key terms associated with your account. Some fees may vary by school program and account type. Please log in to see the fees associated with your specific account and learn about ways to manage your money responsibly.


    BankMobile Vibe Checking Account Fee Schedule
    and Interest Rate Information

    Overview of Fees for the Vibe Checking Account

    We offer an FDIC-insured checking account. Although you're not required to open it, it's one of the options to receive your refunds electronically. If you choose this account, you can continue to use this account as your primary account after graduation.
    If you believe that we have incorrectly charged you a fee, you may file a fee waiver claim by logging in, clicking the FAQs logo in the header and then the "Email Support Team" tab.
    Monthly Service Fee Per purchase ATM withdrawal Cash reload Overdraft
    $2.99
    $0 by having Qualifying Deposits totaling $300 or more per statement cycle
    $0 $0 in-network
    $3.00 out-of-network
    $4.95
    or less
    $0
    Overdraft or insufficient funds fees
    BankMobile does not provide overdraft protection services.
    $0
    ATM balance inquiry (in-network or out-of-network) $0
    Customer service (automated or live agent) $0
    Inactivity $0
    2 other types of fees:
    Outgoing Wire Fee $25.00
    Card Replacement Fee $10.00

    You can access all of your funds for free with online bill pay, personal or official checks and using over 55,000 Allpoint ATMs.

    Account Usage

    Use Allpoint® Network and Customers Bank ATMs to avoid ATM fees.

    Fee Name

    Fee

    Explanation

    Minimum deposit to open account

    $0

    There is no minimum opening deposit for this account.

    Monthly Service Fee

    $2.99

    $0 by having Qualifying Deposits totaling $300 or more per statement cycle

    You may avoid this fee by having a deposit of $300 or more in a given statement cycle. Qualifying Deposits include direct deposit, transfers from external bank accounts, check deposits, point-of-sale deposits and cash deposits such as those made via Green Dot® Reload @ the Register™.

    Financial aid refunds or other refunds issued by your school, interest earned on your account, promotional credits such as cash back rewards, internal account transfers, fee waivers, fee credits, returned items, or dispute credits are not eligible toward the $300 in total deposits.

    The monthly service fee will only reduce an account to a zero balance, which may result in customers being charged less than $2.99 per statement cycle.

    Allpoint Network or Customers Bank ATM fee

    $0

    There is no fee for using an Allpoint Network or Customers Bank ATM.

    ATM availability varies by location. Find an Allpoint Network or Customers Bank ATM.

    ATM cash withdrawal fee

    $3.00 at a non-Allpoint Network ATM or non-Customers Bank ATM.

    (Plus any fees the ATM owner may charge)

    You withdrew cash at a non-Allpoint Network ATM or non-Customers Bank ATM.

    ATM availability varies by location. Make sure you use FREE Allpoint Network or Customers Bank ATMs.

    Overdrafts

    BankMobile does not provide overdraft protection services.

    Fee Name

    Fee

    Explanation

    Insufficient funds fee for returned or paid item

    $0 per item

    No insufficient funds fees will be charged for any transaction.

    BankMobile will not authorize ATM withdrawals or one-time or recurring debit card transactions when there is not enough money in your account.

    Unavailable funds fee for returned or paid item

    $0 per item

    No unavailable funds fees will be charged for any transaction.

    BankMobile will not authorize ATM withdrawals or one-time or recurring debit card transactions when there is not enough money in your account.

    Other Fees

    Fee Name

    Fee

    Explanation

    Card replacement fee

    $10.00

    The fee will be charged for each replacement card order.

    Outgoing wire transfer (domestic) fee

    $25

    The fee will be charged for each transfer requested by you that is debited from your account and delivered to another U.S.-based bank account via wire.

    Green Dot® Reload @ the Register™ fee

    $4.95 or less

    Ask the cashier to add cash directly to your card at participating retailers. A fee of $4.95 or less is charged by Green Dot per deposit. This fee is paid at the register. You can add any amount from $20 to $500 per day as long as card limits are not exceeded.

    Vibe Checking Account Interest Information

    The interest rate and annual percentage yield (APY) on your account is

    • An interest rate of 2.96% will be paid on average daily balances up to $1,000.99. The APY on this tier is 3.00%.

    • An interest rate of 0.01% will be paid only for that portion of the average daily balance that is greater than $1,000.99. The APY for this tier will range from 3.00% to 0.04% depending on the balance in the account assuming a maximum average daily balance of $115,000.

    Qualifications: You must be an enrolled student to open this account. If you make Qualifying Deposits of $300 or more per statement cycle then you will be eligible for interest, otherwise you will earn no interest.

    If your school is no longer partnered with BankMobile or if you enroll with another school which is not partnered with BankMobile, your enrollment status will become unenrolled and you will be moved to the Interest Bearing Checking Account.

    Can the interest rate and annual percentage yield change?

    Yes, at any time

    The interest rate is determined

    Bank discretion

    We may change the interest rate on this account

    Yes

    Interest will be compounded

    Monthly

    Interest will be credited to your account

    Monthly

    If you close your account before interest is credited

    Interest is forfeited

    We calculate your balance by

    We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

    Interest begins to accrue

    Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). Interest on your account will be compounded and credited on a monthly basis. At the end of your statement cycle date, we will determine the qualifying posted transactions and we will use the average ledger balance for the statement cycle to calculate the interest on your account. If your account is closed before interest is credited, any accrued interest will not be paid. Mobile deposits are subject to verification and not available for immediate withdrawal.

    Information regarding fees you may be charged

    Is located in the BankMobile Vibe Checking Account Fee Schedule

    What are the qualifying deposits to earn interest?

    Qualifying Deposits include direct deposit, transfers from external bank accounts, check deposits, point-of-sale deposits and cash deposits such as those made via Green Dot® Reload @ the Register™. Financial aid refunds or other refunds issued by your school, interest earned on your account, promotional credits such as cash back rewards, internal account transfers, fee waivers, fee credits, returned items or dispute credits are not eligible toward the $300 in total deposits.

    BankMobile Savings Account Fee Schedule
    and Interest Rate Information

    Account Usage

    Use Allpoint® Network and Customers Bank ATMs to avoid ATM fees.

    Fee Name

    Fee

    Explanation

    Allpoint Network or Customers Bank ATM fee

    $0

    There is no fee for using an Allpoint Network or Customers Bank ATM.

    ATM availability varies by location. Find an Allpoint Network or Customers Bank ATM.

    ATM cash withdrawal fee

    $3.00 at a non-Allpoint Network ATM or non-Customers Bank ATM.

    (Plus any fees the ATM owner may charge)

    You withdrew cash at a non-Allpoint Network ATM or non-Customers Bank ATM.

    ATM availability varies by location. Make sure you use FREE Allpoint Network or Customers Bank ATMs.

    Savings Account Interest Information

    The interest rate and annual percentage yield (APY) on your account is

    • An interest rate of 1.00% will be paid for average daily balances up to $15,000. The APY for this tier is 1.00%.

    • An interest rate of 0.01% will be paid only for that portion of the average daily balances that is over $15,000. The APY for this tier will range from 1.00% to 0.14% depending on the balance in the account assuming a maximum average daily balance of $115,000.

    You must have a BankMobile checking account to open a BankMobile Savings Account

    Can the interest rate and annual percentage yield change?

    Yes, at any time

    The interest rate is determined

    Bank discretion

    We may change the interest rate on this account

    Yes

    Interest will be compounded

    Monthly

    Interest will be credited to your account

    Monthly

    If you close your account before interest is credited

    Interest is forfeited

    We calculate your balance by

    We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

    Interest begins to accrue

    Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). Interest on your account will be compounded and credited on a monthly basis. At the end of your statement cycle date, we will determine the qualifying posted transactions and we will use the average ledger balance for the statement cycle to calculate the interest on your account. If your account is closed before interest is credited, any accrued interest will not be paid. Mobile deposits are subject to verification and not available for immediate withdrawal.

    Information regarding fees you may be charged

    Is located in the BankMobile Savings Account Fee Schedule

    How do I qualify for a BankMobile Savings Account?

    You must have a BankMobile checking account

    ACH, Automatic and Preauthorized Transfers

    You may make arrangements for certain direct deposits (such as some payroll deposits) to be made directly into your Account. You may make arrangements to pay certain recurring bills or to pay for purchases made through the Internet or telephone from your Account. You may transfer funds between your checking account and savings account. While there is no charge for transfers, you need to be aware that federal regulations have set the maximum number of preauthorized withdrawals to six (6) from your savings account in any statement period.

    Additional Information

    Processing Policies

    Posting order (the order in which deposits and withdrawals are processed)

    Summary

    Typically, we post credits first and will pay all other items by type in the date and time order of the transaction received unless a) it is a check or a converted check that contains a serial number or b) a date and time stamp is not present. Items with serial numbers will be paid in serial number order and items without date and time stamps will be paid in the order they are received.

    Funds Availability Schedule

    When funds deposited into your account are available. For more information please refer to the Funds Availability Policy contained in the Account Terms and Conditions.

    Funding Type

    Availability

    Direct deposit

    Same business day

    Green Dot® Reload @ the Register™

    Same business day

    Wire transfer

    Same business day

    U.S. Treasury checks

    Next business day

    State or local government checks

    Next business day

    Cashier, certified, and teller's checks

    Next business day

    Federal Reserve Bank checks, Federal Home Loan Bank checks, and U.S. Postal Service money orders

    Next business day

    Mobile Deposit (EasyDeposit℠)

    Second business day

    Other paper checks

    Second business day

    Other money orders (e.g. MoneyGram or Western Union)

    Second business day

    Transfer Money

    Third business day

    In certain circumstances, we may delay the availability of all or a portion of the funds deposited to your account beyond the time frames listed above.

    Please refer to the Funds Availability Policy for further information about delays in the availability of funds.

    Dispute Resolution

    Summary of agreement

    Your account is governed by the Account Terms and Conditions and Account Related Disclosures.
    Please refer to this Agreement for complete account details.

    Back to Top

    BankMobile Interest Bearing Checking Account Fee Schedule
    and Interest Rate Information

    Overview of Fees for the Interest Bearing Checking Account

    We offer an FDIC-insured checking account. Although you're not required to open it, it's one of the options to receive your refunds electronically. If you choose this account, you can continue to use this account as your primary account after graduation.
    If you believe that we have incorrectly charged you a fee, you may file a fee waiver claim by logging in, clicking the FAQs logo in the header and then the "Email Support Team" tab.
    Monthly Service Fee Per purchase ATM withdrawal Cash reload Overdraft
    $2.99
    $0 by having Qualifying Deposits totaling $300 or more per statement cycle
    $0 $0 in-network
    $3.00 out-of-network
    $4.95
    or less
    $0
    Overdraft or insufficient funds fees
    BankMobile does not provide overdraft protection services.
    $0
    ATM balance inquiry (in-network or out-of-network) $0
    Customer service (automated or live agent) $0
    Inactivity $0
    2 other types of fees:
    Outgoing Wire Fee $25.00
    Card Replacement Fee $10.00

    You can access all of your funds for free with online bill pay, personal or official checks and using over 55,000 Allpoint ATMs.

    Account Usage

    Use Allpoint® Network and Customers Bank ATMs to avoid ATM fees.

    Fee Name

    Fee

    Explanation

    Minimum deposit to open account

    $0

    There is no minimum opening deposit for this account.

    Monthly Service Fee

    $2.99

    $0 by having Qualifying Deposits totaling $300 or more per statement cycle

    You may avoid this fee by having a deposit of $300 or more in a given statement cycle. Qualifying Deposits include direct deposit, transfers from external bank accounts, check deposits, point-of-sale deposits and cash deposits such as those made via Green Dot® Reload @ the Register™.

    Financial aid refunds or other refunds issued by your school, interest earned on your account, promotional credits such as cash back rewards, internal account transfers, fee waivers, fee credits, returned items, or dispute credits are not eligible toward the $300 in total deposits.

    The monthly service fee will only reduce an account to a zero balance, which may result in customers being charged less than $2.99 per statement cycle.

    Allpoint Network or Customers Bank ATM fee

    $0

    There is no fee for using an Allpoint Network or Customers Bank ATM.

    ATM availability varies by location. Find an Allpoint Network or Customers Bank ATM.

    ATM cash withdrawal fee

    $3.00 at a non-Allpoint Network ATM or non-Customers Bank ATM.

    (Plus any fees the ATM owner may charge)

    You withdrew cash at a non-Allpoint Network ATM or non-Customers Bank ATM.

    ATM availability varies by location. Make sure you use FREE Allpoint Network or Customers Bank ATMs.

    Overdrafts

    BankMobile does not provide overdraft protection services.

    Fee Name

    Fee

    Explanation

    Insufficient funds fee for returned or paid item

    $0 per item

    No insufficient funds fees will be charged for any transaction.

    BankMobile will not authorize ATM withdrawals or one-time or recurring debit card transactions when there is not enough money in your account.

    Unavailable funds fee for returned or paid item

    $0 per item

    No unavailable funds fees will be charged for any transaction.

    BankMobile will not authorize ATM withdrawals or one-time or recurring debit card transactions when there is not enough money in your account.

    Other Fees

    Fee Name

    Fee

    Explanation

    Card replacement fee

    $10.00

    The fee will be charged for each replacement card order.

    Outgoing wire transfer (domestic) fee

    $25

    The fee will be charged for each transfer requested by you that is debited from your account and delivered to another U.S.-based bank account via wire.

    Green Dot® Reload @ the Register™ fee

    $4.95 or less

    Ask the cashier to add cash directly to your card at participating retailers. A fee of $4.95 or less is charged by Green Dot per deposit. This fee is paid at the register. You can add any amount from $20 to $500 per day as long as card limits are not exceeded.

    Interest Bearing Checking Account Interest Information

    The interest rate and annual percentage yield (APY) on your account is

    • An interest rate of 2.96% will be paid for average daily balances up to $1,000.99. The APY for this tier is 3.00%.

    • An interest rate of 1.98% will be paid only for that portion of the average daily balances that are greater than $1,000.99 up to $15,000.00. The APY for this tier will range from 3.00% to 2.06% depending on the balance in the account.

    • An interest rate of 0.01% will be paid only for that portion of the average daily balance that is over $15,000.00. The APY on this tier will range from 2.06% to 0.28% depending on the balance in the account assuming a maximum average daily balance of $115,000.

    Qualifications: When you become unenrolled, you will be moved to this account and if you meet the Qualifying Deposits of $300 or more per statement cycle, you will earn interest, otherwise you will not earn interest. Should your enrollment status change at any time from unenrolled to enrolled, you will continue to be eligible to remain in the Interest Bearing Checking Account.

    Can the interest rate and annual percentage yield change?

    Yes, at any time

    The interest rate is determined

    Bank discretion

    We may change the interest rate on this account

    Yes

    Interest will be compounded

    Monthly

    Interest will be credited to your account

    Monthly

    If you close your account before interest is credited

    Interest is forfeited

    We calculate your balance by

    We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

    Interest begins to accrue

    Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). Interest on your account will be compounded and credited on a monthly basis. At the end of your statement cycle date, we will determine the qualifying posted transactions and we will use the average ledger balance for the statement cycle to calculate the interest on your account. If your account is closed before interest is credited, any accrued interest will not be paid. Mobile deposits are subject to verification and not available for immediate withdrawal.

    Information regarding fees you may be charged

    Is located in the BankMobile Interest Bearing Checking Account Fee Schedule

    What are the qualifying deposits to earn interest?

    Qualifying Deposits include direct deposit, transfers from external bank accounts, check deposits, point-of-sale deposits and cash deposits such as those made via Green Dot® Reload @ the Register™. Financial aid refunds or other refunds issued by your school, interest earned on your account, promotional credits such as cash back rewards, internal account transfers, fee waivers, fee credits, returned items or dispute credits are not eligible toward the $300 in total deposits.

    BankMobile Savings Account Fee Schedule
    and Interest Rate Information

    Account Usage

    Use Allpoint® Network and Customers Bank ATMs to avoid ATM fees.

    Fee Name

    Fee

    Explanation

    Allpoint Network or Customers Bank ATM fee

    $0

    There is no fee for using an Allpoint Network or Customers Bank ATM.

    ATM availability varies by location. Find an Allpoint Network or Customers Bank ATM.

    ATM cash withdrawal fee

    $3.00 at a non-Allpoint Network ATM or non-Customers Bank ATM.

    (Plus any fees the ATM owner may charge)

    You withdrew cash at a non-Allpoint Network ATM or non-Customers Bank ATM.

    ATM availability varies by location. Make sure you use FREE Allpoint Network or Customers Bank ATMs.

    Savings Account Interest Information

    The interest rate and annual percentage yield (APY) on your account is

    • An interest rate of 1.00% will be paid for average daily balances up to $15,000. The APY for this tier is 1.00%.

    • An interest rate of 0.01% will be paid only for that portion of the average daily balances that is over $15,000. The APY for this tier will range from 1.00% to 0.14% depending on the balance in the account assuming a maximum average daily balance of $115,000.

    You must have a BankMobile checking account to open a BankMobile Savings Account

    Can the interest rate and annual percentage yield change?

    Yes, at any time

    The interest rate is determined

    Bank discretion

    We may change the interest rate on this account

    Yes

    Interest will be compounded

    Monthly

    Interest will be credited to your account

    Monthly

    If you close your account before interest is credited

    Interest is forfeited

    We calculate your balance by

    We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

    Interest begins to accrue

    Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). Interest on your account will be compounded and credited on a monthly basis. At the end of your statement cycle date, we will determine the qualifying posted transactions and we will use the average ledger balance for the statement cycle to calculate the interest on your account. If your account is closed before interest is credited, any accrued interest will not be paid. Mobile deposits are subject to verification and not available for immediate withdrawal.

    Information regarding fees you may be charged

    Is located in the BankMobile Savings Account Fee Schedule

    How do I qualify for a BankMobile Savings Account?

    You must have a BankMobile checking account

    ACH, Automatic and Preauthorized Transfers

    You may make arrangements for certain direct deposits (such as some payroll deposits) to be made directly into your Account. You may make arrangements to pay certain recurring bills or to pay for purchases made through the Internet or telephone from your Account. You may transfer funds between your checking account and savings account. While there is no charge for transfers, you need to be aware that federal regulations have set the maximum number of preauthorized withdrawals to six (6) from your savings account in any statement period.

    Additional Information

    Processing Policies

    Posting order (the order in which deposits and withdrawals are processed)

    Summary

    Typically, we post credits first and will pay all other items by type in the date and time order of the transaction received unless a) it is a check or a converted check that contains a serial number or b) a date and time stamp is not present. Items with serial numbers will be paid in serial number order and items without date and time stamps will be paid in the order they are received.

    Funds Availability Schedule

    When funds deposited into your account are available. For more information please refer to the Funds Availability Policy contained in the Account Terms and Conditions.

    Funding Type

    Availability

    Direct deposit

    Same business day

    Green Dot® Reload @ the Register™

    Same business day

    Wire transfer

    Same business day

    U.S. Treasury checks

    Next business day

    State or local government checks

    Next business day

    Cashier, certified, and teller's checks

    Next business day

    Federal Reserve Bank checks, Federal Home Loan Bank checks, and U.S. Postal Service money orders

    Next business day

    Mobile Deposit (EasyDeposit℠)

    Second business day

    Other paper checks

    Second business day

    Other money orders (e.g. MoneyGram or Western Union)

    Second business day

    Transfer Money

    Third business day

    In certain circumstances, we may delay the availability of all or a portion of the funds deposited to your account beyond the time frames listed above.

    Please refer to the Funds Availability Policy for further information about delays in the availability of funds.

    Dispute Resolution

    Summary of agreement

    Your account is governed by the Account Terms and Conditions and Account Related Disclosures.
    Please refer to this Agreement for complete account details.

    Back to Top