BankMobile Vibe Checking Account and Interest Checking Account customers who opened their checking account on or after January 18, 2019 agreed to the fees outlined in the following notice upon opening their account.

The following notice was sent via email to BankMobile Vibe Checking Account and Interest Checking Account customers on January 18, 2019.

FROM: BankMobile Vibe
SUBJECT: An Important Message from BankMobile

January 18, 2019

Dear Customer,

At BankMobile, we are committed to making banking as transparent and financially empowering as it can be. As part of our ongoing commitment to you, we want to notify you of important changes to your account. Please take a moment to review the information below, which outlines upcoming changes to your Fee Schedule and Account Terms and Conditions.

Effective February 20, 2019, the following changes will be made to the BankMobile Vibe Checking Account and Interest Checking Account:

  • 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. The Monthly Service Fee will not be assessed to accounts affiliated with our partner schools located in the state of Washington.

    Deposits will start to be tracked on January 20, 2019. 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. We will begin to charge the Monthly Service Fee for statement cycles ending on February 20, 2019 and beyond.

    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.

  • As we are always looking for new ways to enhance your account, we are excited to announce that 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.

    On February 20, 2019, you will receive an email invitation to select the cash back category of your choice – 1% cash back on gas purchases or 1% cash back on grocery purchases. 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. If you are not already opted in and would like to receive notifications about special promotions from BankMobile, please log in to your account on a computer and update your notification preferences to receive your invitation. 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.

  • 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:

    • We will only charge a maximum of three (3) ISF Fees for returned or paid items per day.
    • We will close your account when you incur $500.00 or more in ISF Fees during any calendar year. As part of our commitment to providing you with great service, we will notify you via email when you approach this limit.
    • We will not charge an ISF Fee when your account has had a negative balance for the last sixty (60) consecutive days.
    • We will reimburse you if we 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 we charge the ISF fee.
    • We will also monitor your account and if you incur additional ISF Fees as a result of our reimbursement process, we 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.

    Please know that your financial empowerment is important to us at BankMobile. Here are some actions you can take to control your account balance and avoid overdrafts:

    • Our convenient budgeting features, Money Meter and Snapshot, can help you monitor your cash flow, track your spending, set up monthly budgets and more.
    • By setting up Mobile Alerts, you can have an alert sent to you when the balance of your account reaches or falls below any amount you specify.

    The above features can help you manage the funds in your account, so you can guarantee you always have sufficient funds to cover your spending.

We promise to continue to work hard to provide you with an account that’s affordable, convenient, and financially empowering. We value your business and look forward to continuing to service your account; however, please know that you always have the option to close your account should you choose to so by contacting Customer Care.

If you have any questions regarding these changes or your account, please contact Customer Care at 1‑877‑327‑9515 between the hours of 8am and 11pm ET.

Thank you,
The BankMobile Team

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