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
| 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 |
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™. |
|
Allpoint Network or Customers Bank ATM fee |
$0 |
There is no fee for using an Allpoint Network or Customers Bank ATM.
|
|
ATM cash withdrawal fee |
$3.00 at a non-Allpoint Network ATM or non-Customers Bank ATM. |
You withdrew cash at a non-Allpoint Network ATM or non-Customers Bank
ATM. |
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 cash withdrawal fee |
$3.00 at a non-Allpoint Network ATM or non-Customers Bank ATM. |
You withdrew cash at a non-Allpoint Network ATM or non-Customers Bank
ATM. |
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. |
BankMobile Interest Bearing Checking Account Fee Schedule
and Interest Rate Information
Overview of Fees for the Interest Bearing Checking Account
| 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 |
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™. |
|
Allpoint Network or Customers Bank ATM fee |
$0 |
There is no fee for using an Allpoint Network or Customers Bank ATM.
|
|
ATM cash withdrawal fee |
$3.00 at a non-Allpoint Network ATM or non-Customers Bank ATM. |
You withdrew cash at a non-Allpoint Network ATM or non-Customers Bank
ATM. |
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 cash withdrawal fee |
$3.00 at a non-Allpoint Network ATM or non-Customers Bank ATM. |
You withdrew cash at a non-Allpoint Network ATM or non-Customers Bank
ATM. |
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. |
BankMobile Privacy Statement
The BankMobile Debit Mastercard® is issued by Customers Bank pursuant to license from Mastercard International Incorporated. The card is administered by BankMobile a Division of Customers Bank.
© 2019 BankMobile a Division of Customers Bank. All Rights Reserved.
Mastercard is a registered trademark of Mastercard International Incorporated.
All other names and logos are owned by their respective owners.
BankMobile a Division of Customers Bank is located at: 115 Munson Street, New Haven, CT 06511.