BankMobile Vibe Checking Account Review
BankMobile Vibe isn't available on Finder right now.
- Fee
- $2.99 per month
- APY
- Up to 0.50%
Our verdict
A seamless way to receive refunds and financial aid from your school.
BankMobile's checking account is exclusively for students who attend its partnering colleges and universities — a pool of over 700 schools. This student account has some decent perks, including cashback rewards, fee-free access at 55,000+ Allpoint and First Carolina Bank ATMs, 0.50% APY on balances up to $1,000.99 and instant school refund delivery. This account doesn’t have an opening deposit requirement, but you'll pay $2.99 per month unless you have direct deposits of at least $300 per month.
Pros
-
Same-day financial aid refund delivery
-
Early direct deposit
-
Cash back and APY
-
Checkwriting privileges
-
Budgeting tools
Cons
-
Only for students who attend partnered schools
-
$2.99 monthly fee (waivable)
Who is the BankMobile Vibe Checking Account best for?
This account is only available for students attending one of the 700+ institutions partnered with BankMobile. If you’re not a student at a college or university, you’re already out of the running for this account, so check out the best checking accounts instead.
This account makes the most sense for students who receive financial aid, since it offers same-day delivery of financial aid refunds from schools. There are several other perks as well, including cashback rewards and early paycheck arrival.
What we like about the BankMobile Vibe Checking Account
BankMobile is a subsidiary of BM Technologies, and banking services are provided and insured through First Carolina Bank, Member FDIC. So, while BankMobile isn’t a bank itself, the BankMobile Vibe Checking Account has deposit insurance up to the standard $250,000.
Same-day financial aid refund delivery
The most noteworthy perk of BankMobile’s account is the ability to have your financial aid refund deposited directly into the account instead of waiting for a check in the mail.
BankMobile partners directly with colleges and universities, which is how it processes and deposits those refunds into the checking account.
Few fees
Aside from the waivable $2.99 monthly fee, there aren’t many other fees to call out. There are no opening deposit requirements or daily balance requirements.
BankMobile offers fee-free ATM access at over 55,000 Allpoint and First Carolina Bank ATMs nationwide. There are no inactivity fees, ATM balance inquiry fees (in or out of network) or overdraft fees.
However, if you need to deposit cash, you can do so at Green Dot locations, but it costs up to $4.95 per reload.
Earn APY on balances under $1,000
The Vibe Checking Account is interest-bearing. You can earn up to 0.5% APY on balances up to $1,000.99, and balances over that amount earn 0.01% APY. Interest is compounded monthly.
While 0.5% doesn’t seem that high at a glance, interest-checking accounts earn an average rate of just 0.07%, as reported by the FDIC. And for comparison, the Vibe Checking Account earns a higher interest rate than many savings accounts from big banks, such as Chase Savings’ meager 0.01% APY.
Cashback rewards
Vibe Checking account holders can view cashback offers within the BankMobile app or web app. These offers are limited and vary, but there’s no activation process required for individual cashback offers. To earn the cashback rewards, you just have to make a qualifying transaction at the merchant offering the reward and be eligible for the cashback program.
To qualify for cashback rewards, you must meet these requirements:
- You’ve funded your account at least once since opening.
- You’ve made at least one eligible transaction within the last 60 days and continue to make at least one eligible transaction every 60 days.
- Eligible transactions include ATM transactions, over-the-counter withdrawals, transfers via peer-to-peer services, credits to your account, ACH debits, ACH transfers, transfers or withdrawals and purchases.
Where it falls short
The BankMobile checking account charges $2.99 per month in maintenance fees, but you can waive it with at least $300 in monthly direct deposits. There’s also good news for a few: The monthly service fee is not charged for students in Washington or those affiliated with the South Carolina Technical College System.
It’s not too high of a fee, and the waiver is simple, but as a college student, you’re likely looking for ways to avoid every fee possible. Check out the best fee-free checking accounts if you’d rather not deal with monthly fees or meeting fee waiver requirements.
No list of universities
Try as we might, we couldn’t locate a list of BankMobile’s partnered colleges and universities. The company states there are over 700 partners, making millions of students eligible for the account. But unfortunately, there’s no easy way to check if your college is on BankMobile’s partner list without applying for the account.
If your university isn’t a BankMobile partner, there are also student checking accounts.
BankMobile fees and access
| Type of fee | Fee details | |
|---|---|---|
Monthly service | $2.99, or waived with $300 in monthly direct deposits | |
Opening deposit | $0 | |
ATMs | Domestic: $0 within network, $3 out of network withdrawals International: Not listed | |
Debit card fees | Cash withdrawals: $0 within network, $3 out of network Foreign transactions: Not listed Card replacement: Varies by school | |
Overdraft or nonsufficient funds | $0 | |
Wire transfers | Incoming: $0 Outgoing: $25 | |
Other fees | Cash reload: Up to $4.95 at Green Dot locations Insufficient funds fee: $0 Returned or paid item fee: $0 |
Compare BankMobile to other checking accounts
Narrow down top savings accounts by APYs, fees and features. Select Compare on up to four accounts for a side-by-side comparison.
What is the Finder Score?
The Finder Score crunches over 300 checking accounts from hundreds of financial institutions. It takes into account the product's monthly fees, overdraft fees, opening deposit, customer support options, ATM network and features — this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of checking accounts against what we consider is the best option: no monthly fees, no overdraft fees, a large ATM network of 50,000 or more, additional features outside of typical banking services, and the optional perk of earning interest. Accounts that are nearly free to maintain and use are scored the highest, while accounts with costly fees and few features are scored the lowest.
Customer reviews and ratings
| BBB accredited | Yes |
|---|---|
| BBB rating | A- |
| BBB customer reviews | 1.08 out of 5 stars, based on 38 customer reviews |
| Trustpilot score | 3.6 out of 5 stars, based on 2,822 customer reviews |
| Customer reviews verified as of | 22 January 2025 |
BankMobile gets so-so customer ratings — and we’ll take that as good news. Most banks and fintechs with banking services don’t get great customer reviews, so BankMobile is ahead of the curve.
On the Better Business Bureau (BBB), most reviews are negative, but that’s pretty typical. Most customers who leave reviews on the BBB are trying to get an issue resolved. Among the reviews, common issues include difficulties receiving their student aid refund, poor customer service, problems updating personal information or attempts to resolve fraudulent charges to get refunds. All in all, these are typical complaints for financial services.
On Trustpilot, most of the reviews are glowing. Nearly all the positive reviews are customers saying the customer support was very helpful and quick to respond, with a customer even noting “Best and fastest support I ever experienced.” Others also note that messaging BankMobile on social media platforms seems to be the best and fastest way to resolve issues.
Finder Scores: What they mean
If you want peace of mind, this rating will give it to you. These products offer the best value and outcomes considering various product features, terms, conditions and price.
Well-balanced products that provide what you need, offering a healthy mix of competitive features at a good price. However, they're not quite the best in class.
Bottom line: You can find better, but these products still offer reasonable value and have the basics sorted.
These products may not offer much value in the long run, and there are better options available.
BankMobile Vibe is not currently available on Finder
Have you considered SoFi Checking and Savings?
Earn up to 3.80% APY on savings by meeting deposit requirements or by paying the SoFi Plus subscription fee every 30 days, and 0.50% APY on checking balances. Members without deposit requirements will earn 0.50% APY on both savings and checking balances. Turn on automatic savings or use the Roundups feature to help you reach your savings goals faster. Get up to $2M of additional FDIC insurance through a network of participating banks.
- 0.50% APY on checking balance
- Up to 3.80% APY on savings
- $0 account or overdraft fees
- Get up to a $300 bonus with direct deposits of $5,000 or more
Your reviews
Bethany Finder
Banking editor
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