- Report: #915344
Complaint Review: HigherOne - New Haven Connecticut
Reported By:
osujohn -
Portland, Oregon, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
HigherOne
115 Munson Street New Haven, 06511 Connecticut, United States of America
Phone:
Web:
www.higerone.com
Categories:
Business Rating:
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HigherOne The Bancorp Bank Experts in Nickel and Diming Young Students New Haven, Connecticut
This bank (or rather, pass-through bank) is probably one of the most predatory in regard to nickel and diming their clientele (all of which are students).
Portland State University uses HigherOne to outsource their accounts payable. In the contract, HigherOne also agrees to share a portion of the profits with the University.
HigherOne charges for EVERYTHING. If you use your debit card, there is a fee. If you use the ATM, there is a fee. If you withdraw money, there is a fee. They make transferring money out as hard as transferring money in.
What's most troubling, is that most students don't know they can opt out of the account. HigherOne asserts that the lack of the DDA (which is attached to the University ID card) will come with the consequence of a severely delayed processing of any account disbursements. They assert up to a week or more, when no bank in the US takes more that 24 hours to initiate an ACH draft.
In fact, you cannot even conveniently get through to a customer service rep. without spending 10 minutes on hold listening to how much faster it would be to use their website...
It wouldn't be so bad if they prayed on adults; Rather, they target young students that have no idea that there is an alternative.
Portland State University uses HigherOne to outsource their accounts payable. In the contract, HigherOne also agrees to share a portion of the profits with the University.
HigherOne charges for EVERYTHING. If you use your debit card, there is a fee. If you use the ATM, there is a fee. If you withdraw money, there is a fee. They make transferring money out as hard as transferring money in.
What's most troubling, is that most students don't know they can opt out of the account. HigherOne asserts that the lack of the DDA (which is attached to the University ID card) will come with the consequence of a severely delayed processing of any account disbursements. They assert up to a week or more, when no bank in the US takes more that 24 hours to initiate an ACH draft.
In fact, you cannot even conveniently get through to a customer service rep. without spending 10 minutes on hold listening to how much faster it would be to use their website...
It wouldn't be so bad if they prayed on adults; Rather, they target young students that have no idea that there is an alternative.
1 Updates & Rebuttals
osujohn
United States of AmericaNickel and Diming Students
#2Author of original report
Sat, July 21, 2012
This bank (or rather, pass-through bank) is probably one of the most predatory in regard to nickel and diming their clientele (all of which are students).
Portland State University uses HigherOne to outsource their accounts payable. In the contract, HigherOne also agrees to share a portion of the profits with the University.
HigherOne charges for EVERYTHING. If you use your debit card, there is a fee. If you use the ATM, there is a fee. If you withdraw money, there is a fee. They make transferring money out as 'hard' as transferring money in is 'easy'.
What's most troubling, is that most students don't know they can opt out of the account. HigherOne asserts that the lack of the DDA (which is attached to the University ID card) will come with the consequence of a severely delayed processing of any account disbursements. They assert up to a week or more, when no bank in the US takes more that 24 hours to
initiate an ACH draft.
In fact, you cannot even conveniently get through to a customer service rep. without spending 10 minutes on hold listening to how much faster it would be to use their website...
It wouldn't be so bad if they prayed on adults; Rather, they target young students that have no idea that there is an alternative.
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