ED Magedson – Founder
Higher One Bank, Higher One, One Account, Higher One Inc. Higher One Bank for College Refunds & Financial Aid Refunds - RIPOFF!! Alpharetta Internet
This bank sells themselves on colleges and universities as a means to reduce/eliminate costs associated with the issuance of refunds, particularly financial aid refunds. The schools must then FORCE the students to open a Higher One account to get their refund. Higher one then forces it's services on the students, or in the alternative, applies excessive holds to the students funds as a means of inducong the students to use the Higher One debit card to access their own money. If a student tries to use the online banking to get a check sent to pay a bill, Higher One litterly holds the funds for a minmum of one week, up to two weeks before even mailing a check out.
Higher One is buying customers from schools by in exchange for some A/P services. I am not a lawyer, but it does not seem legal, or proper for a bank, or school to be able to force you to open an account with them.
This report was posted on Ripoff Report on 05/13/2014 09:07 AM and is a permanent record located here: http://www.ripoffreport.com/r/Higher-One-Bank/internet/Higher-One-Bank-Higher-One-One-Account-Higher-One-Inc-Higher-One-Bank-for-College-Ref-1146222. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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