BankMobile Disbursements

The most common type of money BMTX, Inc. 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. BMTX, Inc. uses the term “refund” but OFTC may have another name for these funds, such as disbursement, residual, or a stipend.

Delivery of refund money is a multi-step process. First, OFTC 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 BMTX, Inc. Once the specific refund information is received, it is processed and disbursed according to your selection.

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