BankMobile at Ivy Tech

In recent years, student financial services have evolved significantly, offering new and innovative ways to manage money while attending college. One such advancement is BankMobile, a digital banking platform partnered with Ivy Tech Community College. This partnership provides a seamless and convenient banking experience for students, offering a range of services tailored to the needs of the modern college student.

What is BankMobile?

BankMobile is a digital banking service that aims to simplify financial management for students by providing them with essential banking services without the need for a traditional bank branch. Originally launched as a division of Customers Bank, BankMobile offers a broad range of services through its mobile app, including student-friendly features like fee-free accounts, easy access to financial aid, and digital tools to manage money effectively.

At Ivy Tech, BankMobile partners with the college to offer students an easy and efficient way to access and manage their financial aid funds, receive direct deposits, and carry out day-to-day banking transactions. The platform is designed to be user-friendly and accessible, helping students navigate their financial responsibilities while focusing on their studies.

BankMobile and Ivy Tech Partnership

Ivy Tech Community College, one of the largest community colleges in the United States, has partnered with BankMobile to provide students with a streamlined and hassle-free way of managing their finances. This collaboration was designed to offer students several advantages, such as faster access to financial aid refunds and an efficient way to handle everyday banking needs.

Through this partnership, Ivy Tech students can access their financial aid refunds through the BankMobile Refund Selection, which allows them to choose how they would like to receive their funds. BankMobile provides options for students to receive their refunds via an electronic transfer to a BankMobile Vibe Account, a paper check, or an external bank account. This flexibility helps students receive their financial aid in the quickest and most convenient way possible, ensuring they can use those funds when needed.

Key Features of BankMobile at Ivy Tech

The BankMobile platform offers a variety of features designed specifically with students in mind. Let’s break down some of the key features that make it a beneficial tool for Ivy Tech students:

BankMobile Vibe Account: The BankMobile Vibe account is a no-fee checking account that offers a range of benefits to Ivy Tech students. It’s a fee-free account, which means there are no monthly maintenance fees, no overdraft fees, and no minimum balance requirements. This is ideal for students who may be managing a tight budget while in school. The account comes with a debit card that students can use for everyday purchases, as well as access to ATMs nationwide.
Refund Selection: Students at Ivy Tech can choose how they want to receive their financial aid refunds. The options include direct deposit to a BankMobile Vibe Account, direct deposit to an external bank account, or a paper check. The refund selection process is simple and can be completed through the BankMobile website or app.
Direct Deposit: With BankMobile, students can have their financial aid and other refunds directly deposited into their BankMobile Vibe Account, ensuring faster access to funds. This eliminates the need to wait for paper checks or deal with delayed processing times that might occur with traditional banking methods.
Mobile Banking App: BankMobile offers a user-friendly mobile app, which allows students to manage their finances on the go. The app provides a variety of features, including the ability to check account balances, transfer funds, pay bills, and locate ATMs. Students can also use the app to set up alerts for various transactions, ensuring they stay informed about their financial activities.
Access to ATMs: BankMobile has a network of ATMs available for students to withdraw money without incurring any additional fees. The BankMobile app can help students find the nearest ATMs in their area, making it easy to access cash when needed.
Online and Mobile Banking: BankMobile offers robust online and mobile banking features, enabling students to check balances, track spending, transfer money, and make payments from anywhere. This flexibility helps students stay on top of their finances and avoid late fees or missed payments.
Educational Resources: In addition to its banking services, BankMobile provides students with access to financial education tools and resources. These resources can help students learn how to manage their money effectively, budget, and save for the future. This is particularly important for college students who are often managing their finances for the first time.

Getting started with BankMobile at Ivy Tech is relatively easy. When a student enrolls at Ivy Tech, they will receive a BankMobile Refund Selection packet. This packet contains important information about how to set up their BankMobile Vibe Account, choose a refund selection method, and access their financial aid funds.

To sign up for BankMobile, follow these steps:

Activate Your Account: The first step is to activate your BankMobile account by logging into the BankMobile platform using the instructions provided in your packet.
Choose Your Refund Method: During the activation process, you will be asked to choose how you would like to receive your financial aid refund. You can choose to have the refund deposited into your BankMobile Vibe Account, an external bank account, or receive a paper check.
Set Up Direct Deposit (Optional): For students who want to receive their refunds directly into their BankMobile Vibe Account or an external bank account, they can set up direct deposit using the online or mobile banking platform.
Start Using the Account: Once your account is set up, you can start using your BankMobile Vibe Account to manage your finances, make purchases, and access your financial aid refunds.

Advantages of BankMobile at Ivy Tech

There are several advantages to using BankMobile for financial aid and everyday banking at Ivy Tech. Some of the key benefits include:

Speed and Convenience: BankMobile ensures that students receive their financial aid refunds quickly and conveniently. Direct deposit options allow for faster access to funds, which is critical when students need money for textbooks, supplies, or living expenses.
Fee-Free Banking: BankMobile offers fee-free banking with no monthly maintenance fees, no overdraft charges, and no minimum balance requirements. This is particularly helpful for students who may be managing limited funds while attending college.
Flexibility and Control: The ability to choose how you receive your financial aid funds gives students more control over their finances. Whether they prefer a paper check or an electronic transfer, the options available ensure that students can get their funds in the way that works best for them.
Educational Resources: BankMobile also provides valuable financial education tools and resources to help students improve their financial literacy and make informed decisions about their money.

Conclusion

BankMobile at Ivy Tech is an invaluable tool for students looking to manage their finances in an efficient, cost-effective way. The platform offers a range of services tailored to the needs of college students, from fee-free banking and fast access to financial aid refunds, to mobile banking and financial education resources. With its easy-to-use platform, BankMobile makes managing money while attending Ivy Tech more convenient than ever. By taking advantage of the services offered by BankMobile, Ivy Tech students can stay on top of their finances and focus on what really matters: their education.