- Report: #945639
Complaint Review: Higher One - Internet
Reported By:
TheTruth -
Lake Panasoffkee, Florida, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
Higher One
Internet, United States of America
Phone:
Web:
www.MyOneMoney.com
Categories:
Business Rating:
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Higher One Cattle Drive Internet
Higher Education Institutions no longer gv students their financial aid but send the students' aid to HigherOne. Hence, CATTLE DRIVE! Then Higher One holds the funds unless the students ASK to hv their funds Xfrd and if u choose not to take the HigherOne account and keep your own, you will wait an additional 3-5 days for your school money and do without! (this is their leverage bcuz students need their $) Ok schools get the aid and keep it in processing for at least 2 weeks (drawing interest?) than the Higher One gets it-without your permission. And again you will wait for your money! And if you choose to use a different account your aid is sent back to Federal Reserve and then redistributed to your actually thought out decision as to what bank YOU choose to use
4. Here is a list of HIGHER ONE FEES from their web: www.higheroneaccount.com/info/outfees.jsp
Stop Payment $24.00
Return Deposit Item$7.00
Official Check$8.00
Multiple Copies of Checks, Deposits and Archived Statements First copy no additional fee. $5.00 per additional item.
Outgoing Wire Transfer Domestic: $25.00; International: $50.00
Merchant PIN-Based Transaction$0.50 per transaction (never heard of this one before)
Non-Higher One ATM Transactions(Includes all withdrawals, inquiries, and declines)
Domestic: $2.50; International: $5.00 non-Higher One ATM has been used.
Insufficient or Uncollected Funds - Returned Item or Paid Item First item: $29.00
Additional items: $38.00 Y
Card Replacement $20.00 A replacement card was ordered for you.Be sure to keep your card in a safe place to protect against loss or theft.
Abandoned Account Fee(Charged after 6 months with no transactions)
Note: There is no fee on accounts with a $0 balance Up to $10.00 per month You have not used your OneAccount in 6 consecutive months.
*Cash Advances3.5% ($5.00 minimum) You took a withdrawal of cash from your OneAccount - now they're charging you to use YOUR CASH?? More"Swipe and Sign" for all your purchases, or withdraw cash for free at a Higher One ATM instead of taking a cash advance. LOCATIONS ARE FEW AND FAR BETWEEN!
International Transactions 3%
Delinquent Account Fee $50.00
Account Research Fee $25.00 per hour
What is going on? This is being shoved down students' throats! As if students are totally stupid? Students chk out other banks these fees are over the top! Locations are limited on their ATMs!
4. Here is a list of HIGHER ONE FEES from their web: www.higheroneaccount.com/info/outfees.jsp
Stop Payment $24.00
Return Deposit Item$7.00
Official Check$8.00
Multiple Copies of Checks, Deposits and Archived Statements First copy no additional fee. $5.00 per additional item.
Outgoing Wire Transfer Domestic: $25.00; International: $50.00
Merchant PIN-Based Transaction$0.50 per transaction (never heard of this one before)
Non-Higher One ATM Transactions(Includes all withdrawals, inquiries, and declines)
Domestic: $2.50; International: $5.00 non-Higher One ATM has been used.
Insufficient or Uncollected Funds - Returned Item or Paid Item First item: $29.00
Additional items: $38.00 Y
Card Replacement $20.00 A replacement card was ordered for you.Be sure to keep your card in a safe place to protect against loss or theft.
Abandoned Account Fee(Charged after 6 months with no transactions)
Note: There is no fee on accounts with a $0 balance Up to $10.00 per month You have not used your OneAccount in 6 consecutive months.
*Cash Advances3.5% ($5.00 minimum) You took a withdrawal of cash from your OneAccount - now they're charging you to use YOUR CASH?? More"Swipe and Sign" for all your purchases, or withdraw cash for free at a Higher One ATM instead of taking a cash advance. LOCATIONS ARE FEW AND FAR BETWEEN!
International Transactions 3%
Delinquent Account Fee $50.00
Account Research Fee $25.00 per hour
What is going on? This is being shoved down students' throats! As if students are totally stupid? Students chk out other banks these fees are over the top! Locations are limited on their ATMs!
1 Updates & Rebuttals
Aaron, Higher One
New Haven,Connecticut,
USA
Additional Info from Higher One
#2UPDATE Employee
Tue, October 02, 2012
Hello. My name is Aaron and I work with Higher One. I would like to provide some additional information to provide you with a better understanding of why your school partnered with Higher One and how the refund process works.
Your school partnered with Higher One to provide additional choices for students to receive their refund from the school. Higher One never takes away choice, but adds choices for students. As you mentioned, one of the options is to have the money Direct Deposited into a Bank Account of your choice. And you're right, it does get processed through the Federal Reserve once we verify the information is correct. This is not to be used as "leverage," nor is it to delay you receiving your funds. Rather, it is the process designated by the Federal Reserve for Electronic Funds Transfers and therefore one we're require to follow by law. Unfortunately we do not have control over the way your school processes refunds on their end however.
Your other option is to open a fully functioning, FDIC Insured checking account with Higher One. Like all checking accounts, there are fees for optional services. However, something that was not included when you posted the fees here, is the column that explains how to avoid each of these fees. Additionally, we provide the link to the fee schedule on each and every page of your online banking website (including before you ever login, or select a refund preference), so that students can make an informed decision about which refund option is best for them.
We hope this information is helpful! If you ever need to contact Customer Care, you can do so in the following ways:
--Call the number on the back of your card Monday-Friday 8 a.m. - 11 p.m. ET. After entering your card number and date of birth you'll be read your balance information. After this, press "0" to speak with an Agent.
--Tweet @AskHigherOne Monday-Friday between 9 a.m. - 9 p.m. ET. --Use EasyHelp's Ask a Question feature by clicking on any EasyHelp logo when logged into your account. Simply fill out the information in the "Ask a Question" tab and someone will follow up with you through email.
