What is BankMobile?
BankMobile is a company Lake Superior College has partnered with to provide options to disburse all refunds and payroll to students. These include:
- Financial Aid Disbursements
- Grant Disbursements
- Loan Disbursements
- Overpayment Refunds
- Student Employee Payroll
- Tuition Refunds
Check LSC’s Refund FAQ Page for more information on refunds.
Why Does LSC Use BankMobile?
Lake Superior College uses BankMobile to provide direct deposit and a debit card for students who may not be able to open a bank account for various reasons. BankMobile is quick when providing students their funds. BankMobile can better address issues with lost or stolen checks while preventing many issues with check fraud from the beginning.
BankMobile was previously known as HigherOne.
BankMobile Provides a Choice
Your BankMobile activation code is the key to log into www.RefundSelection.com to select your student refund and payroll preferences. You can select between direct deposit into your own checking or savings account or you may choose to open a BankMobile Vibe checking account. The choice is up to you.
If you happen to not choose a refund preference within 3 weeks of a pending refund or payroll payment, BankMobile will issue a check. Be sure to select a refund and payroll preference to make sure there is no delay in you receiving your funding.
Electronic Deposit to Another 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.
Electronic Deposit to a BankMobile Vibe Account
If you open a BankMobile Vibe checking account (upon identity verification), money is deposited the same business day BankMobile receives funds from your school.
How to Get Started
All students will receive a bright green envelope from BankMobile after they’ve registered for courses with Lake Superior College. This envelope contains the Refund Selection Kit. The Refund Selection Kit will include the personal activation code needed to choose a refund preference at www.RefundSelection.com. Be sure your correct address is on file in the Account Management section of your e-Services.
If there is anything wrong with your Refund Selection Kit (e.g. incorrect name spelling), contact the Student Payment Office before you select your preference.
BankMobile Set-up and Preferences
You’ll go to www.RefundSelection.com to select your refund and payroll preferences.
If you open a BankMobile Vibe account, you may be asked to complete a Customer Identification Program Verification (CIP Verification). This must be done online through your BankMobile account. You will need a current, official picture ID or other requested documentation. This is a verification step to make sure only you are accessing your funds. If you open a BankMobile Vibe account, you will be provided with a debit card to use.
Make your BankMobile refund choice to receive your refund or student employee payments.
View our cash management contract and documents.