Launched in January 2015, BankMobile is an online bank that focuses on serving Millennials, college students, and otherwise tech-savvy banking customers who want to avoid banking fees and having to visit bank branches. As its name suggests, BankMobile offers convenient and secure electronic access to its digital banking services. Its app (iOS and Android) features the ability to open an account, as well as mobile check deposit, personal payments, bill pay, and personal finance and budgeting resources. However, even without the BankMobile app, customers can always access their accounts through the BankMobile website.
As of this writing, funds deposited with BankMobile are insured by the FDIC (up to applicable limits), and it offers access to a large fee-free network of over 50,000 ATMs across the United States. In addition to personal lines of credit, the bank offers deposit accounts, including checking accounts and interest-bearing savings accounts. Both products have no fees and no minimum balance requirements. The accounts can be linked together to provide fee-free overdraft protection for the checking account. Furthermore, BankMobile provides relationship banking perks – including expanded free ATM access and personalized financial advice – to customers who directly deposit their paychecks into a BankMobile checking account.
Originally, BankMobile was an online division of Customers Bank, headquartered in Phoenixville, PA. However, in March 2017, the parent company of Customers Bank, Customers Bancorp, Inc., announced that it would sell BankMobile to Flagship Community Bank, based in Clearwater, FL.
Literally don't use this if you care about yourself at all! I was robbed and lose my phone, wallet, and phone along with other things. My Bankmobile Vibe card was in my wallet. Somehow, the person who took my things was able to OVERDRAFT my card that isn't supposed to be able to be overdrafted. So I call customer care, and am immediately told call volumes are higher than usual. I get 10 minutes of recorded messages trying to get me to handle my issue online, and then the automated message finally gives me the option to get a call back when it is my turn. I choose this option, and then NEVER get a call back. So today, 4 days later, I call again. I get the same immediate message that call volumes are higher than usual. Listen to the recorded message forever again, and when I am finally put into the que, I am only on hold for 2 minutes. I explain the situation to a person who's accent I can hardly understand, not a problem, she gets my account unlocked and password reset. Cool. But then she transfers me to another department to deal with the unauthorized charges and overdraft. The next person I talk to, who has the same heavy accent, needs me to explain the entire issue, along with all of my information again, promptly transfers me back to the department I originally called. This person almost sounds identical to the first woman I talked to, but with a different name. I tell her the full story, all of my information again, and at this point I'm 25 minutes into the call. The woman cancels my card and asks me if I would like to have a new one sent to me? Yes, of course. She then tells me it will be a $10 charge to pay for shipping to replace my stolen card! So I ask her about the overdraft, and if I can have it removed, considering the card wasn't supposed to have that option, and the fact that it was due to theft. She proceeds to try to explain to me how I can pay the overdraft back. So I ask her if she is serious, am I really going to be penalized for having all of my stuff stolen? This bank IS NOT REAL! The customer service is a joke. Trust me, don't trust your money with Bankmobile Vibe. Have your refund sent to your regular bank account and wait the extra 2 days!!!
They were once known as HigherOne. They either got bought out or rebranded as Bankmobile.
They have gotten worse. A merchant figured out their statute of limitations and used it to trick me out of my money with no recourse. They then snarkily told me on the phone that getting a school refund doesn't mean I am a student. My school got on their case for that.
I had another dispute with a merchant back in May 2018. The merchant agreed to the charge back mid June. Bankmobile claims that the merchant hasn't responded to their inquiry but the merchant gave me documentation showing that was a lie. Their response was to tell me that even though my money is ready to pull, they will be holding the money(less than $120) till the end of July because they feel like it. While this was going on I ran out of money and has been starving for weeks and was told that it was ok to starve while they negligently hold my money.
My school released my money this Monday before 2PM. 2 PM if you don't know is when banks consider it a new day. Bankmobile has yet to release my money. Thanks to 4th July, no banks are gonna be processing anything Wednesday so that means I won't see a penny til Thursday. I needed that money for my mother's birthday, to eat, for Fourth July celebrations, and most importantly to pay my rent. I now have financial penalties due to their sadistic asses. I even had a health check up and them starving me is causing me health issues.
I try to get in contact with the higher ups but conveniently the manager is never in. Just a useless supervisor who is only there to be a broken record.
Bankmobile is literal killing me and doing it with a smile.
Fast Forward, looks like bankmobile is trying to have the truth of my experience silenced.
I will be moving every dime of my money out of this account and banking elsewhere! This organization makes it extremely difficult for you to access your own funds, customer service is garbage, and the website features are constantly subjected to some sort of malfunction or inaccessible to begin with. DO NOT BANK WITH THIS ORGANIZATION!!!!!! It is not worth the hassles and headaches... please keep your money with a legitimate and reputable financial organization. To Bank Mobile/Higher One/Customer's Bank, I do not want to hear from any of your representatives with a BS response to this post now that my grievances with your company have been presented via the internet; after providing giving your customer service department the benefit of the doubt after painstakingly innumerable and undeserved occasions, There is absolutely NOTHING that you can do at this point to rectify my issues with your company. I will be discouraging whomever I possibly can from banking with or keeping money at your organization!
|FDIC Certificate #||34444|
|Return on Assets - YTD||0.68%|
|Return on Equity - YTD||6.77%|
|Annual Interest Income||$339.7MM|
|Assets and Liabilities|
|Assets||Q3 2019vs Q3 2018||$11.72B$10.62B|
|Loans||Q3 2019vs Q3 2018||$10.23B$8.72B|
|Deposits||Q3 2019vs Q3 2018||$8.96B$8.56B|
|Equity Capital||Q3 2019vs Q3 2018||$1.11B$1.05B|
|Loan Loss Allowance||Q3 2019vs Q3 2018||$51.1MM$40.7MM|
|Unbacked Noncurrent Loans||Q3 2019vs Q3 2018||$19.4MM$26.0MM|
|Real Estate Owned||Q3 2019vs Q3 2018||$204.00K$1.5MM|
Rates for BankMobile are currently being reviewed.
BankMobile is an Internet only bank and does not have branch locations. Its headquarters is located at 99 Bridge St - Phoenixville, PA 19460