Oftentimes, at the start of each semester, students end up with a credit balance (overpayment) on their student account. This is typically due to financial aid funds that have been disbursed to your student account and the resulting balance exceeds the total of charges. The only exception is in the case of a Parent PLUS loan. In this situation, the refund will be sent by check to the parent borrower unless during the application process, the parent indicated that any Parent PLUS loan overpayment should go to the student. Contact the Financial Aid Office at 513-745-3142 for any questions.

Every week, Xavier processes refunds for students who have overpayments on their bursar account. We review the accounts on Mondays and Tuesdays and process the refunds on Wednesdays.

Xavier University has partnered with BankMobile in managing the refund process and issuing refunds for any credit balance that occurs on a student's bursar account. Refunds are not available for pick up.

How it works:

Every newly registered student to Xavier will receive a GREEN ENVELOPE from BankMobile containing information on their choices for receiving credit balances from Xavier. The green envelope will be sent to their home address if it is issued during the summer. Once school begins, the green envelope will be sent to the student's local address. If no local address is on file, it will be sent to the home address. It's important for students to keep their address(es) up-to-date. All address changes should be done through the Registrar's Office.

Once the green envelope is received, every student is encouraged to select a refund preference, even if a refund will not occur during a particular semester. Just follow the instructions that come with the green envelope which will primarily consist of going to refundselection.com and selecting how they'd like to receive their credit balance. Students have two options to choose from:

  1. Deposit to an existing checking or savings account you already have. By entering your banking information (routing and account number), the credit balance will be electronically transferred by ACH (electronic funds transfer) to any checking or savings account in the U.S. Please allow 2-3 business days for the money to be posted to your bank account after Xavier processes the refunds.
  2. Deposit to the BankMobile Vibe account. This is an FDIC insured checking account with BankMobile that is designed for students. You'll be able to request a debit card (not a credit card) that is associated with this account. Once a credit balance is issued, the money will be added to the balance in that account and the card can be used immediately for purchases wherever MasterCard is accepted. If the student wants cash, they can use the Debit MasterCard to withdraw up to $500.00 a day from the BankMobile ATM in the lobby of Fenwick Place just around the corner from the entrance to the Caf. Please allow just a few minutes for the money to be posted to the Vibe Account. Funds are released the same business day that Xavier releases them to BankMobile.

If a selection is not made, a paper check will be sent to the student 21 days after the refund has been processed.

For students who choose option #2 above, to open a BankMobile Vibe Account:

  • The Debit MasterCard card can be used for purchases at any merchant that accepts MasterCard. Keep in mind that the available balance on the Debit MasterCard is limited by the amount of money in the student's BankMobile Vibe Account.
  • The Debit MasterCard is not a credit card. It is a debit card. Therefore, the balance in the Vibe Account will decline by the amount of each purchase.
  • If the student wants to withdraw cash from their Vibe Account, they can use their Debit MasterCard at the BankMobile (not the US Bank ATM) located in the 1st floor lobby of Fenwick Place, just around the corner from the entrance to the Cafe. This ATM dispenses currency in $10s and $50s and withdrawals are limited to $500.00 per day or the balance in the account, whichever is less.
  • The Debit MasterCard can be used in non-BankMobile ATMs. However, these transactions may be subject to non-BankMobile ATM service fees by both BankMobile and the owner of the non-BankMobile ATM. The BankMobile Vibe Account Debit MasterCard can be used at Allpoint ATMs at no cost.

For Customer Service issues surrounding credit balances, students can contact BankMobile at 1-877-327-9515 or by visiting refundselection.com or during normal business hours of M-F from 8:30am-5:00pm they can contact the Bursar's Office at 513-745-3435 or email xubursar@xavier.edu.

It's important to note that:

  • A $75 fee will be charged to a student's bursar account when the student requests the refund of an overpayment on their bursar account outside of our normal weekly refund process. The Bursar's Office processes refunds every Wednesday through BankMobile. However, the analysis that leads up to issuing a refund begins on Monday or Tuesday of each week, depending on the volume of refunds to process. As mentioned above, if a refund isn't included in the normal process because there was no overpayment at the time of the analysis and the student wants their refund anyway, the student's bursar account will be charged $75.
  • This credit balance process is not related to payroll direct deposit. Those preferences must be coordinated through the payroll department.
  • Students can enter their checking or savings account information or that of a parent or guardian if the student wants someone else to receive any credit balance/overpayment from their student bursar account.
  • Xavier does not issue refund checks for pick-up.

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View Xavier University and BankMobile's Contract Disclosure