New York, NY, Feb. 12, 2019 (GLOBE NEWSWIRE) -- BankMobile, a division of Customers Bank, and America’s largest and fastest-growing mobile-first bank, today announced that it has selected Alex Meissner as the most recent winner of its 2018 Passport Student Success Sweepstakes. Meissner, who majored in economics with a minor in finance, is a graduate of the University of North Texas. BankMobile awarded Meissner $10,000 to help pay off his student loans.

“When I found out that I had won, I was so happy and thankful that I could lower my student loan amount. I changed majors several times before deciding on a degree in economics with a minor in finance,” stated Meissner. “The biggest money challenge in school is the cost of books each semester. The things that I love about my BankMobile Vibe Checking Account are the ease of use and ability to track my finances.”

“We congratulate Alex on being selected as a winner of our Passport Student Success Sweepstakes,” stated Luvleen Sidhu, President, Co-Founder and Chief Strategy Officer at BankMobile. “At BankMobile, we are truly customer-obsessed and financial empowerment continues to guide our business. It is exciting to offer such programs to help our customers. We will continue to disrupt the industry through our tech-enabled, simple platform.”

Passport is the BankMobile Vibe Checking Account recognition program for smart money management, academic achievement and good financial behavior. BankMobile Vibe is a student centric checking account available at campuses that use BankMobile Disbursements and has the following elements:

• Free features like online bill pay, card on/off switch, money management tools designed for students
• No minimum balance
• Robust mobile app
• Access to more than 55,000 fee-free Allpoint^® ATMs
• An optional savings account that offers 1.00% APY¹ on balances up to $15,000 

Passport users earn stamps for smart money management, academic achievement and good financial behavior they make. Every stamp earned also gives them an entry into the Student Success Sweepstakes for a chance to win up to $10,000 to put toward paying off their student loan debt.

With 1.8 million customers, BankMobile is in the Top 15 banks in the U.S. in terms of number of consumer checking accounts serviced. BankMobile Disbursements serves more than five million students on nearly 800 campuses nationwide. The bank also provides refund management services to one in every three college students in the country.

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About BankMobile
Established in 2015, BankMobile is a division of Customers Bank and America’s largest and fastest growing mobile-first bank offering checking and savings accounts and credit products. BankMobile provides an alternative banking experience to the traditional model and is focused on technology, innovation, easy-to-use products and education with the mission of being “customer-obsessed” and creating “customers for life.” The disruptive, multi-partner distribution model, known as “Bank-as-a-Service,” created by the executive team enables BankMobile to acquire customers at higher volumes and substantially lower expense than traditional banks. Its low-cost operating model enables it to provide low-cost banking services to low/middle-income Americans who have been left behind by the high-fee model of “traditional” banks. Today, BankMobile provides its “Bank-as-a-Service” platform to colleges and universities and currently serves nearly two million account-holders at nearly 800 campuses (covering one out of every three students in the U.S.). BankMobile is operating as the digital banking division of Customers Bank, which is a Federal Reserve regulated and FDIC-insured commercial bank. For more information, please visit: www.bankmobile.com.

1. In order to qualify for a BankMobile Savings Account you must have a BankMobile Vibe Checking Account. APY is accurate as of 01/01/19. An interest rate of 1.00% will be paid for average daily balances up to $15,000 with an Annual Percentage Yield (APY) of 1.00%; average daily balances greater than $15,000 will earn a 0.01% interest rate only for that portion of the average daily balance that is greater than $15,000. The annual percentage yield for this tier will range from 1.00% to 0.14% depending on the balance in the account (calculation based on a $115,000 average daily balance). Interest rates and APY are variable and may change at any time at our discretion without notice. Fees may reduce earnings. A withdrawal from your account will reduce earnings. Limit six (6) transfers or withdrawals per statement cycle. View our Terms and Conditions for information on how we determine eligibility and interest. View our Fee Schedule for fees associated with the savings account.

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• Alex Meissner, Winner of BankMobile's 2018 Passport Student Success Sweepstakes