Innovation Updates:

BMTX is always working to evolve our technology and banking services in response to the needs of our customers, our consumers and industry advances.

We are implementing some new initiatives and required changes in the coming months to provide us the opportunity to enhance our capabilities and services. Below are listed important updates to bring to your attention at this time.

Please bookmark this page and check back frequently.

Update Regarding First Carolina Bank Partnership

Posted October 17, 2023

We have some exciting news regarding the future of BMTX and we are sharing this news with you and our Vibe accountholders. Earlier this year we announced a new bank partnership with First Carolina Bank (FCB). We’ve been hard at work preparing for a seamless continuation of your service following the December 1, 2023 closing date of the transaction with FCB. The BMTX team, the service, the processes we all follow and the high expectations we set for ourselves will not change. We do not anticipate any service interruptions. We will continue to provide a reliable disbursement service compliant under all federal regulations.

Our routing number and account number have not changed. Continue to use the current ABA routing transit number, 113024588. At your convenience, please notify your bank that the name and address associated with this number is now First Carolina Bank, 171 N. Winstead Avenue, Rocky Mount, NC 27804.

Wire Information:

• Beneficiary Name: BM Technologies, Inc.
• Beneficiary Account Number: [Enter Clearing account #]
• Beneficiary Address: 201 King of Prussia Rd, Suite 650, Radnor PA, 19087
• Bank Name:First Carolina Bank
• ABA Routing Number: 113024588
• Bank Address: 171 N. Winstead Avenue, Rocky Mount, NC 27804

BMTX’s Guaranteed Schedule of Events (per official banking day)

Prior to 12:00 p.m. your local time:

• BankMobile Disbursement’s server receives institution refund disbursement data file.
• BankMobile Disbursements receives funds via wire transfer to clearing account.
• BankMobile Disbursements approves file for processing.
• BankMobile Disbursements guarantees file processing prior to daily ACH deadline if file and funds are received by 12:00 p.m. your local time.

By 3:00 p.m.:

• BankMobile Disbursements completes processing of institution refund disbursement data file.

At 4:00 p.m.:

• BankMobile Disbursements submits ACH payment file through ACH network to meet daily ACH deadline.

Existing Program Materials (storefront.bankmobiledisbursements.com):

• Please remember to replace all existing electronic and paper program materials with updated versions available in the Storefront on December 1, 2023, to ensure you have the most current versions available to your students.

Routing Number Change (ACTION REQUIRED)

Posted March 30, 2023

When sending wires to BMTX, please use our new ABA Routing Number: 113024588. You may provide the following information to your bank:

Wire Information:

• Beneficiary Name: BM Technologies, Inc.
• Beneficiary Account Number: [Enter Clearing account #]
• Beneficiary Address: 201 King of Prussia Rd, Suite 650, Radnor PA, 19087
• Bank Name:Customers Bank
• ABA Routing Number: 113024588
• Bank Address: 40 General Warren Boulevard, Suite 200, Malvern, PA 19355

There are no other changes to our Wire Information.

Record Retention (NO ACTION REQUIRED)

Posted March 30, 2023

Effective April 18, 2023, BMTX will begin purging information associated with disbursements imported on and before June 30, 2019.

Pursuant to the Department of Education, Code of Federal Regulations, 34 CFR 668.24(e), “An institution shall keep records relating to [Title IV funds] three years after the end of the award year for which the aid was awarded and disbursed.”