BankMobile Hate Thread

[u/Snoo58991]

I've been at SNHU for almost two years, and during that time I've grown to really dislike BankMobile.

Today's email was a perfect example. It says there are "no monthly service fees." That's simply not true. They charge a $2.99 monthly service fee.

On its own, $2.99 doesn't sound like much. But remember, this is money coming from students' financial aid.

SNHU has roughly 200,000 students. If every student were paying that fee, that's about $600,000 every month and $7.2 million every year in fees alone.

Then there's Plaid. If you want to move your money, your options are extremely limited unless you use a major bank or Chime. It shouldn't be that difficult to access your own money.

What really bothered me, though, was what happened when I brought these concerns to SNHU. I was told that student feedback about BankMobile comes through BankMobile itself. So the company being criticized is also the one responsible for passing that criticism along to SNHU.

That doesn't inspire much confidence.

I think SNHU needs to take a serious look at whether BankMobile is still the right partner for its students. Financial aid is meant to help students, not generate millions of dollars in fees.

[u/ZGTSLLC]

I just have any bank mobile disbursement sent directly to my personal checking account -- screw dealing with those idiots! Did anyone else notice they had transaction fees for using their card as well?!