Refunds
Update Your Mobile Phone Number for Refund Processing
To ensure you can successfully activate your refund profile and receive important verification codes, please make sure your mobile phone number is up to date in your student record.
If your mobile phone number has changed or is missing, please:
– Log in to ACES
– Select the 'My Info' card
– Click 'Update Your Address & Phone Numbers
– Verify and update your phone number(s)
An accurate mobile phone number is required to receive the one-time passcode (OTP) used during refund profile activation. If your number is not current, you may be unable to complete the process until your information is updated and transmitted to BankMobile, our refund service provider. Please allow up to 48 hours for your updated phone number in ACES to sync to BankMobile. Thank you for helping us keep your account information secure.
Your refund. Your choice.
During your college enrollment, you may at some time be eligible for a Financial Aid refund or other types of disbursements. Alamo Colleges District delivers your refund with BankMobile Disbursements, a technology solution powered by BMTX, Inc. Visit this link for more information: https://bankmobiledisbursements.com/refundchoices/.
Refund Schedule
Note for students receiving financial aid:
Once funds credit to your account, the Alamo Colleges must request the funds from the Department of Education to pay a Pell Grant, FSEOG, or Direct Loan. This multi-day process can be impacted by weekends and holidays.
Alamo Colleges District sends refund files to BMTX, Inc one business day after it appears in a student’s ACES account.
However, that does not indicate the date you will receive your refund. Refund timing depends on your selected refund preference with BankMobile Disbursements, a technology solution, powered by BMTX, Inc.
For additional information or to review your refund choices, please visit: https://bankmobiledisbursements.com/refundchoices/.
New Cash Management Rules
In an effort to protect students and ensure their best interest, the new Cash Management Rule from the Department of Education (ED) requires disclosure by institutions with Tier 1 or Tier 2 relationships of certain key information about the financial accounts offered to their students.
Tier One (T1) arrangements are those between an institution and a third-party servicer where the servicer "performs one or more of the functions associated with processing direct payments of Title IV funds on behalf of the institution" and offers one or more financial accounts under the arrangement, or markets an account to students itself or through another entity. Tier Two (T2) arrangements are defined as those between an institution and a bank under which accounts are offered and marketed directly to students.
All disclosures related to these new regulations and banking services contract will be made on this webpage.
Documents:
Notice for Tier One and Tier Two Status (PDF)
BM Technologies Refunding Service Agreement (PDF)