- Higher One’s current disclosures are more transparent than most other checking accounts, with explanations of fees and fee-avoidance instructions and videos. Higher One is working to develop the Pew-recommended fee-schedule form for all three of its accounts, which allows consumers to compare bank accounts across the market more easily to see which option they feel may be the best choice for them.
- Higher One has eliminated the Lack of Documentation Fee on all accounts, a fee charged to less than 2% of OneAccount holders when each did not provide adequate documentation as required by the USA Patriot Act.
- Higher One has now eliminated PIN-based fees from two of the three OneAccount options available to students at the time of choosing the delivery method for their refund—FLEX and Premier. As always, with all three accounts, accountholders can swipe and sign at the point-of-sale free of charge anywhere where MasterCard is accepted.
- Higher One does not offer overdraft protection on any accounts. This is a form of credit and Higher One has never issued any lines of credit to customers.
- All Higher One account users can conduct balance inquiries and withdrawals for free at any Higher One ATM. Higher One has installed more than 700 ATMs nationally. As always, should a campus’ Higher One ATMs not be operational due to any maintenance or repair related issues or be out of cash at any time, Higher One reimburses OneAccount holders at their request for up to $5 per day for fees charged at other ATMs. FLEX and Premier account users are allowed a specified number of out-of-network ATM transactions per month.
Higher One provides its services to approximately 6.2 million students at distinguished public and private higher education institutions nationwide. More information about Higher One can be found at HigherOne.com.