BankMobile Vibe Checking Account Changes Effective February 20, 2019
The Monthly Service Fee for all customers will now be $1.99; however, you may avoid this fee by depositing a total of $300 or more during each statement cycle.
Qualifying Deposits include direct deposit, transfers from external bank accounts, check deposits and cash deposits such as those made via Green Dot® Reload @ the Register™.
Financial aid refunds or other refunds issued by your school, internal account transfers, fee waivers, fee credits, returned items or dispute credits are not eligible toward the $300 in total deposits.
The Monthly Service Fee will only reduce your account to a zero balance which may result in you being charged less than $1.99 per statement cycle. It will never cause your account to be overdrawn.
If your total deposits are less than $300 by the end of your next statement cycle date, you will be charged a $1.99 Monthly Service Fee.
For additional information about these changes to the Monthly Service Fee, please
log in to view your updated Fee Schedule and Account Terms and Conditions.
Beginning on February 20, 2019, an Insufficient Funds Fee (ISF) of $24.00 for returned and paid items will be charged.
An ISF Fee for returned and paid items occurs when you spend more money than is available in your account by making payments via e-check, paper check or ACH. Please note the following regarding the Insufficient Funds (ISF) Fee:
- There is a maximum of three (3) ISF Fees for returned or paid items per day.
- Your account will be closed when you incur $500.00 or more in ISF Fees during any calendar year. BankMobile will notify you via email when you approach this limit.
- BankMobile will not charge an ISF Fee when your account has had a negative balance for the last sixty (60) consecutive days.
- BankMobile will reimburse you if they charge you more than one ISF Fee with respect to a single ACH transaction that is returned unpaid within any twenty-one (21)-day period. Reimbursement will occur the next business day after they charge the ISF Fee.
- BankMobile will also monitor your account and if you incur additional ISF Fees as a result of our reimbursement process, They will credit you for those fees.
- If debits presented against your account on the same day will overdraw the available balance in your account by $5 or less, an ISF Fee will not be assessed. For an example of this, please refer to the De Minimis Insufficient Fund (ISF) Fees section of your Account Terms and Conditions.
For additional information about the Insufficient Funds (ISF) Fee, please log in to view your updated Fee Schedule and Account Terms and Conditions.
You will have the opportunity to earn 1% cash back on gas or grocery purchases made with your BankMobile Vibe Debit Mastercard® beginning February 20, 2019.
Once you have selected your cash back category, simply use your BankMobile Vibe Debit Mastercard® card to make purchases to earn 1% cash back through the promotional period ending April 30, 2019. Additional details, including instructions on how to make your cash back selection, information on qualifying purchases and participating merchants and more will be provided with your invitation.
If you have any questions regarding these changes or your account, please contact BankMobile Customer Care at 1-877-327-9515 between the hours of 8 a.m. and 11 p.m.