Red Rocks Community College is partnered with BankMobile, a financial services company focused solely on higher education, to offer direct deposit of refunds to students.
All refunds are now processed electronically at all state system community colleges. Your refund can be electronically deposited to your own checking or savings account, you can have BankMobile send your refund as a check through the mail, or you may choose to open an ONLINE ONLY bank account directly with BankMobile - the BankMobile Vibe account. Below are answers to some of the most frequently asked questions about our refund process.
Activate your student email address. This is Red Rocks' primary means of getting information to you about the BankMobile Service and about your student account.
2) On the Welcome tab, in the Help channel, click on the "Activate Student Email" button.
Ensure your correct mailing address is on file with the college. Your address will be matched with the US Postal Service database to ensure your refund preference activation kit will arrive on time and only to the address you specify.
2) Go to the Student Tab, then to the Personal Info channel on the right side, and choose "View/Change Address and Phone".
3) Click on View or Update Addresses and Phones.
4) Or, you can visit Admissions on the Lakewood campus Monday-Thursday 8-6 and Friday 8-5 and they will personally assist you with the address change process.
Watch your mail for an envelope from BankMobile (do not mistake this for junk mail). This envelope contains your refund preference activation kit! Just as soon as you receive this letter, go online to www.refundselection.com and use the included personal code to select a refunding preference according to the instructions mailed with it. You only need to select it one time when you first start attending Red Rocks Community College. If a preference was already set up for a previous term, you are all set to go for the current term.
Once your financial aid is disbursed to your student account, it will pay towards your balance due to RRCC and then we will process any amount it overpays as a refund to BankMobile. You can view your student account online through the rock under the student finance tab. Choose the option "View Tuition Bill (by term)" in the box called "Payment Options" on the left hand side of the page. Financial Aid typically disburses to student accounts on Mondays, starting after the census date for each semester. You should be able to see when your aid disburses and might even see a negative balance on your account if you happen to look at it while RRCC is still working on processing the refund. Once you see a line on the account reading “Batch Refund” with an amount listed, it means that RRCC has finished processing the refund for that amount and has submitted it to our system office for additional processing. The refund will reach BankMobile on Friday of that week and they will start processing it into whatever refunding preference you have chosen.
- If you chose to have your refund electronically deposited to your own checking or savings account, you should see it in your account 2 - 3 business days after BankMobile receives it (usually sometime between Tuesday and Thursday, depending on your financial institution).
- If you chose the paper check option, BankMobile sends out the check on the same day they receive the refund and then it can take anywhere from 3 - 5 additional days to reach you, depending on mailing time through the USPS.
- If you chose to open an BankMobile Vibe online-only checking account, your refund will be deposited into that account the same day that BankMobile receives it.
Overall, your refund should be available 5 - 14 business days from the date that financial aid disburses to your account.
FAQs (Frequently Asked Questions)
1. How are refunds from Red Rocks Community College delivered to students?
Payments made by credit or debit card will first be refunded to the card originally used for payment, whenever possible. Any remaining refund amount is delivered via BankMobile. Select your refund preference online by visiting www.refundselection.com with the personal code included in your refund preference activation kit.
2. How do I get my BankMobile Refund Activation code?
Red Rocks Community College students will receive a refund preference activation kit in the mail at their primary address on file when they first register for classes with RRCC. For this reason, be sure your address is up to date before you register for classes! See above under for directions on how to change your address. If you are unsure where your refund preference activation kit is or have not received it, please visit www.refundselection.com or contact the Cashier's Office to request for a new personal code to be sent out to your student email.
3. I don’t think I will ever get a refund. Why is it important to select a refund preference?
Although you might not currently expect a refund from Red Rocks Community College or are only planning on paying by credit or debit card, it is still possible that we may need to process a refund for you through BankMobile in the future. After all, it may be necessary to drop a class, a class may be canceled or you may simply receive a scholarship or assistance you were not anticipating. Selecting a refund preference to receive refunds from RRCC ensures you’ll always receive your refunds in a timely manner. You can select a preference right away and simply log in to BankMobile's website if you need to make any changes when you know a refund's coming. Again, payments made by credit or debit card will first be refunded to the card originally used for payment, whenever possible. Any remaining refund amount will be refunded via the BankMobile.
4. What are my options for receiving Financial Aid or other refunds?
- Electronically deposited to your own checking or savings account - refunds are available to you 2 - 3 business days after BankMobile receives it, usually sometime between Tuesday and Thursday, depending on your financial institution.
- Paper Check - refunds are available to you 3 - 5 business days after BankMobile receives it, depending on mailing time through the USPS.
- Open a BankMobile Vibe online-only checking account - refunds are available to you the same day that BankMobile receives it.
5. What exactly is the BankMobile Vibe account?
BankMobile Vibe—an internet-only, non-interest bearing, FDIC insured checking account for students with the power to bank anywhere, anytime. There’s no monthly fee for students. You can find out more info here : www.bankmobilevibe.com/about/