• Report: #960706

Complaint Review: Higher One

  • Submitted: Fri, October 26, 2012
  • Updated: Tue, November 06, 2012

  • Reported By: Antos1949 — Franklin Park New Jersey U.S.A.
Higher One
105 Munson St New Haven, Connecticut United States of America
  • Phone: 1-866-730-6627
  • Web:
  • Category: Banks

Higher One Higher One refund fiasco New Haven, Connecticut

*Author of original report: Clarify website instructions

*UPDATE Employee: Additional Info from Higher One

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My daughter was due a refund of over $4,000 from Kutztown University.  The money was transferred to HigherOne.  We then went to their website to have the money transferred to our account.

According to HigherOne's website we had to fill out an ACH form and our refund would be transferred in 2-3 business days.  Well, it is over 4 weeks and we have received nothing.

We have emailed them numerous times and their last response was that the ACH form is on file for future refunds.  What future refunds?  There are going to be NO future refunds! 

Upon calling them. even with my daughter's account number, etc. they told me they could do nothing without her being on the phone as a third party.  I am the parent who paid the money involved and they would not do anything with me.

Please do not accept this company when applying for finacial aid.  I understand you can do this if you desire.  Stay away from them.

This report was posted on Ripoff Report on 10/26/2012 06:10 PM and is a permanent record located here: http://www.ripoffreport.com/r/Higher-One/New-Haven-Connecticut-06511/Higher-One-Higher-One-refund-fiasco-New-Haven-Connecticut-960706. 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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REBUTTALS & REPLIES:
1Author 1Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

Clarify website instructions

AUTHOR: Antos1949 - (U.S.A.)

Thank you for your response.  If someone had provided this information in the numerous emails sent to HigherOne, this problem could have been settled long ago. 

The instructions on your website regarding ACH forms should be explained more fully to avoid problems like this.
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#2 UPDATE Employee

Additional Info from Higher One

AUTHOR: Aaron, Higher One - (USA)

Hello. My name is Aaron and I work with Higher One. I'd like to help clarify the information here as it seems to be a matter of miscommunication. 

While it is true that you can have a refund directly deposited into an existing bank account, it is only possible from the initial time of refund disbursement - meaning that the transfer to the Automated Clearing House (ACH) must be done at the time the school sends Higher One the refund file and refund wire. This process skips the OneAccount checking account completely, and is directly deposited into the designated bank account listed on the ACH form.

However, if a refund is deposited into the OneAccount checking account, and then the refund preference is changed to ACH Transfer, which sounds like the case here, then only future refunds will be deposited into the designated bank account on the ACH form. However, because the OneAccount checking account is a fully functioning, FDIC Insured Checking account there are multiple ways to use the funds in the account. All of these ways can be found through this Easy Help link: https://www.higheroneaccount.com/easyhelp/pta?basepage=answer&type=public&param=2229

Additionally, because it is a fully functioning bank account, banking regulations require that the account owner, in this case your daughter, be present when discussing details of the account. This would be the same situation if you were to walk into a bank branch and attempt to talk to them about an account not under your name. This is to ensure the safety and security of the account information and is a regulation every banking institution follows. 

We hope this information is helpful!
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