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Financial Aid

FINANCIAL AID

Phyllis TorryDirector of Student Financial Services
Phyllis Nettles Torry
(901) 435-1555
Mailing Address
LeMoyne-Owen College
807 Walker Avenue
Memphis, TN 38126

Telephone/Email Contact
(901) 435-1575

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807 Walker Ave
Memphis TN 38126
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Home » Financial Aid Home » Disbursements with BankMobile

MORE INFO, CONTACT
Yolanda Emodogo, Executive Director of Finance
yolanda_emodogo@loc.edu
901-435-1585


Disbursements with BankMobile

INTRODUCTION

LeMoyne-Owen College partners with BankMobile Disbursements to deliver financial aid refunds and other credit balances to students.  
We are committed to:

  • Delivering 100% of your refund
  • Keeping your data secure
  • Allowing students to change refundpreferences at any time
  • Providing students with clear choices
  • Offering great customer service

How to use BankMobile

Using BankMobile is easy, convenient and secure.  Look for your Refund Selection Kit. It looks like this:

 

 

Once it arrives, simply follow these steps to make your refund preference selection:

  1. Visit www.RefundSelection.com
  2. Enter your Personal Code
  3. Select how you’d like to receive your money

Your options for receiving your refunds are:

  1. DEPOSIT TO AN EXISTING ACCOUNT
    Money is transferred to an existing 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.
  2. DEPOSIT TO A BANKMOBILE VIBE CHECKING ACCOUNT
    If you open a BankMobile Vibe checking account (upon identity verification), money is deposited the same business day BankMobile receives funds from LeMoyne-Owen.

BankMobile Disbursements FAQs

If you are new to this service, you may have questions. Below are answers to some of the most frequently asked questions about BankMobile and the process for receiving disbursements from LeMoyne-Owen College.

 

Who is BankMobile Disbursements?
When it comes to receiving financial aid refunds and other credit balances, you deserve choices.  LeMoyne-Owen has partnered with BankMobile Disbursements to deliver refund money we may have for you. You will select your refund preference using your personal code which will arrive in your Refund Selection Kit. This kit will be sent in a bright green envelope to your address on file with LeMoyne-Owen.

 

What kinds of money might I receive from LOC?
The most common type of money BankMobile disburses to students are funds left over from financial aid awards, loans or grants after tuition has been paid. Students receiving these funds have usually requested this additional support to help with books and living expenses. Other types of money may include reimbursement for tuition overpayment or a dropped class. BankMobile uses the term “refund” but LOC may have another name for these funds, such as a disbursement, residual or a stipend.

 

Why am I getting a Personal Code?
You will use your Personal Code to make your refund selection at RefundSelection.com.

 

How will I get a Personal Code?
You will receive your Personal Code in the mail at your primary address on file with LOC. Just look for the bright green envelope and please make sure your address is up to date. To update your address, please visit the Records Office in Brownlee Hall.

 

How is my money delivered?
Delivery of refund money is a multi-step process. First, LOC draws funds from the respective loan and/or grant provider and applies it to your student account. Once this information is verified, it is sent to BankMobile. Once the specific refund information is received, it is processed and disbursed according to your selection.

 

Can I change my preference for receiving money from LOC?
Yes. Just log in to RefundSelection.com and select “Refund Preferences” from the “Refunds” menu option. Once on the page, simply make your new selection and click the “Update Preference” button to complete the process.  Be aware that your new selection will only affect future money you receive from LOC.

 

How will I know when my money has been sent?
BankMobile will send you an email to the address you entered during setup. You can also view the status online at RefundSelection.com.

 

What is the BankMobile Vibe account?
Designed exclusively with students in mind, BankMobile Vibe is a checking account that offers the power to bank anywhere, anytime. Plus there’s no monthly fee for students.  If you select the BankMobile Vibe account as your refund choice, you will receive a temporary virtual Debit MasterCard® to use until your physical card arrives in the mail.  Identity Verification is required to open up a BankMobile Vibe account online via BankMobile’s Customer Identification Program (CIP).  You can be ready by having handy one of the following:  Government-issued photo ID (non-expired), signed Social Security card or state-issued ID or passport.

 

What if I have additional questions?
Visit RefundSelection.com or get easy answers anytime by using our online FAQ database