Complaint Review: HigherOne - New Haven Connecticut
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- Author Not Confirmed
- HigherOne 115 Munson Street New Haven, Connecticut United States of America
- Phone:
- Web: www.higerone.com
- Category: Banks
HigherOne The Bancorp Bank Experts in Nickel and Diming Young Students New Haven, Connecticut
*Author of original report: Nickel and Diming Students
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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.
This report was posted on Ripoff Report on 07/21/2012 07:59 AM and is a permanent record located here: https://www.ripoffreport.com/reports/higherone/new-haven-connecticut-06511/higherone-the-bancorp-bank-experts-in-nickel-and-diming-young-students-new-haven-connecti-915344. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#1 Author of original report
Nickel and Diming Students
AUTHOR: osujohn - (United States of America)
SUBMITTED: Saturday, 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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