oneaccount · to locate a higher one atm on campus, login to your oneaccount and from the “quick...

©2009 Higher One, Inc. Higher One and the Higher One logo are registered trademarks of Higher One, Inc. MasterCard and the MasterCard brand mark are registered trademarks of MasterCard International Incorporated. All other names and logos are owned by their respective owners.

OneAccountBanking services provided The Bancorp Bank, Member FDIC.

U s e r ’ s G U i d e

2


3

I’m Miles, one of the founders of Higher One. If you’re reading this, your college or university uses our services – so welcome to the Higher One family. As this may be your first experience with us, I’d like to share some background on how we started out, followed by details about the features & benefits of the OneAccount.

I founded Higher One when I was a junior in college with two other college friends, Sean Glass and Mark Volchek. Our idea was to expand the purchasing power of our college ID card so it could be accepted all over—not just on campus.

While this was a good idea, we weren’t sure it would be enough to become a viable business. We needed to provide a benefit to school administrators in addition to the students. Looking at the refund process, we noticed how frustrating it was for students to wait in line for their money. Additionaly, the process of issuing checks was costly for the school. We decided that we could create a company based on the combination of an ID card with a Debit MasterCard®, which would help students get their refunds from their school faster, offer more choices in how to receive their money, and finally, save time and money for colleges & universities.

Our company was built on a culture that values integrity, teamwork, creative problem solving, focus and open communication. Open communication, to me, also means open communication with customers. Some of the ways we practice this involve avoiding “banky” words, or if we must use them, doing our best to explain what they mean in simple terms. It also means posting fees associated with the OneAccount on the first page of the banking site (you don’t find that very often!). On that same page – we’ve explained in detail how the account can be used for free. Since Higher One was created by students, for students, we made sure to provide many student-focused features with the checking account we offer—the OneAccount.

Thanks for taking the time to read this note. I’ve provided my contact information below & welcome your comments or suggestions on how we can provide better services and even more choices and features for students.

Sincerely,Miles Lasater

P.S. If you’re a junior, senior, or graduate student, I understand that change can be a hassle and you probably already have a checking account, however it’s easy to switch and take advantage of the OneAccount – it’s always available to you with the no monthly fee, no minimum balance or per check fees.

Get to know me and Higher One even better on facebook:

If you have thoughts or ideas on financial services, services for students, etc. Mark and I are always interested in hearing from you. You can email me at [email protected]. You can also comment on the company blog. We’re always open to speaking about the Higher One story so if you’d like us to come speak at your campus, send me an email.

HigHer One

2 3


easy refundsM

easy refund is the same day deposit of your refund money into an fdiC insured checking account called the “Oneaccount.” The Oneaccount is also directly linked to your debit MasterCard®. With money in your Oneaccount you can use the card wherever debit MasterCard® is accepted.

How is it so fast?

Your school “releases” a list of who is owed a refund to Higher One along with a wire transfer of the money to be disbursed. Higher One almost immediately checks that there are no errors in the file or wire and then starts refund disbursement. With an Easy Refund, the money is available fast. An Easy Refund doesn’t rely on the government for processing or mailing, so it’s available to you right away. Why wait?

are there fees associated with an easy refund?

No. Receiving an Easy Refund is FREE. Like all checking accounts, there are fees associated with other services such as wire transfers, stop payments, etc. You can view the fee schedule by clicking on the “Fee Schedule” link located in the footer of your program website

4


5

The Oneaccount is an fdiC insured checking account with no monthly fees. Many commercial banks offer free checking as long as you meet certain criteria, however with the Oneaccount, there are no minimum balance or deposit requirements. it’s easy to use the Oneaccount for free. Here’s how:

1. Just “sign for it” When using your card to make purchases, always choose “credit” instead of “debit” at the checkout. Swipe the card, and sign the receipt. When you sign for any purchase, you won’t be charged the PIN-based transaction fee. To learn how to avoid PIN fees for common purchases, visit: HigherOne.com/PIN.

2. use Higher One aTMsWhile you can use your card to withdraw cash at any ATM, always use the fee-free Higher One ATM’s s located on or near campus to avoid any “foreign” ATM fees.

3. Check your online statementCheck your available balance frequently with your online statement, to make sure you have enough money to cover any purchases or cash withdrawals. It’s available 24 hours a day, seven days a week. Your online statement makes it easy to be responsible and avoid fees for “insufficient funds.”

Please note: Tansactions may not appear immediately on your online statement. Remember, your available spending balance indicates the amount of money that is available for spending.

4. earn OnerewardsYou may be eligible to earn OneRewards when you use your card at participating merchants.

OneaCCOunT

4 5


OneaCCOunTWhether or not you receive financial refunds, you can still take advantage of the Oneaccount.

1. add money electronicallyTransfering money from another bank account is easy. Simply have the bank account information that you would like to transfer money from and log in to your OneAccount. From the main menu bar select “One Account” then “Add Money.” Next, follow the directions to setup and confirm a funding account.

2. get an easy refundWhen you choose an Easy Refund, all funds owed to you by your college or university are deposited directly into the OneAccount.

3. receive money electronically Parents, friends and family members can make a deposit to your OneAccount when they “Send Money” from their checking or savings account electronically to your OneAccount. It’s fast, safe and you can get money with just a few simple clicks of the mouse. To sign up, family members should have their account information ready and visit your program website. From the main page click on the “Family & Friends” tab, then click the “Sign up To Send Money” image and follow the instructions.

4. Oneaccount to OneaccountOneAccount holders can send money to other OneAccount holders instantly. Simply log in to your OneAccount and from the main menu bar, select “Send Money” followed by “Send” and just follow the instructions.

5. setup payroll direct depositIf your employer offers direct deposit, you can have your paychecks deposited directly to the OneAccount. It’s easy and saves you the time and hassle of going to the bank.

6. Make a deposit by mailTo deposit checks by mail, simply log on to your program website and from the “Quick Links” box, select “How to Deposit.” Look for the link to “print out a deposit slip” and mail it in with your deposit. Please do not send cash or third party checks.

Want to learn more? Get answers to the most frequently asked questions through EasyHelpSM. Simply log on to your program website, and select “EasyHelp” to submit a question and receive an answer directly from a Higher One Customer Service representative.

depOsiTs

6


7

debit MasterCard® Using your card wherever Debit MasterCard is accepted is the easiest and most convenient way to access your money. Best of all, you may be eligible to earn OneRewards when you use your card at participating merchants. Tip: To avoid unnecessary fees, whenever you make a purchase, always select “Credit” instead of “Debit.” Then just swipe your card and sign the receipt rather than entering your PIN.

recurring paymentsPay recurring bills automatically using your card! From internet and cell phone services to utilities and cable TV, setting up automatic bill payment is easy. You’ll save money on postage, and the time it takes to write checks. Call your service provider or check their website for information on how to set up automatic bill payment with Debit MasterCard.

On-campus spendingUse your card on campus at locations such as local eateries, laundry and vending machines.

get cash from Higher One aTMsTo locate a Higher One ATM on campus, login to your OneAccount and from the “Quick Links” box select “How to Spend.” In the text paragraph labeled “Get Cash,” click on the text link “Show me where.”

Write a check, or use Online Bill pay Sometimes a check is the only way to pay. If you have not received checks yet, or have written so many that you ran out, ordering is easy. For checking, the Higher One RTN (Routing and Transit Number) is 113024588.

If you receive direct deposit of your payroll, take advantage of FREE unlimited Online Bill Pay. With Online Bill Pay, there’s no need to write checks or buy postage. You simply schedule payments automatically.

Other fee-based servicesCash advances

Cash is available at any bank teller window via a cash advance. Simply present your Debit MasterCard and sign for the money.

Wire moneyNeed to send money quickly to someone without a OneAccount? Use our domestic and international wiring service. To learn more visit your program website.

Official checksSometimes, for unusually large purchases you may be required to pay with an official check directly from your bank.

Learn more by going to your program website on the back of your card to view the “Fee Schedule” to learn more about these fee-based services.

HOW TO use THe Card

6 7


The image to the right is a sample of what an active Oneaccount statement looks like. it’s easy to read and shows every transaction the cardholder has made, and it’s available 24 hours a day, 7 days a week. Let’s take a closer look at the statement, starting at the top menu bar:

1. To view your statement, select “OneAccount,” then “OneAccount Statement.”

2. Above the main menu bar, you will see your up-to-date “Available Balance.”

3. Your bank routing number, bank account number, and wire transfer number.

4. A detailed list of transactions, item by item. Included in the example; the date of the transaction, the type of transaction, a description of the transaction showing where the transaction occurred, and the amount of the transaction, whether it be a deposit or withdrawal….and the resulting balance of the account.

Please Note: Transactions may not appear immediately on your online statement. Remember, your available spending balance shown above indicates the amount of money that is available for spending.

HOW TO use THe Card OnLine sTaTeMenT

View Earnings

8


9

parents, did you know you can easily sign-up online to send money to your student’s Oneaccount? you don’t even have to wait until the Oneaccount is opened.

Here’s how to get started:

Select the “Sign Up To Send Money” link in the Friends and Family Box at the bottom of the home page.

On the next page, view estimated costs for a typical semester and a short list of what you’ll need for the sign up process. When you’re ready, simply click on “Sign Up To Send Money.”

Type in all of the requested contact information, then click the “Next” button.

Carefully type in your bank account information then click the “Next” button.

This step allows you to send money to your student. Until your funding account has been confirmed (Step 6) the maximum amount that you can send is $200.00.

Note: It is very important that the recipient email address that you enter here is the same email address your student will use to open the OneAccount with Higher One.

You may send money before the OneAccount has been activated. Higher One will immediately release the

“pre-deposited” funds once the student activates their OneAccount.

You will receive an email from Higher One with instructions detailing how to confirm your email address and funding account. Once your funding account has been confirmed, the $200.00 limitation will no longer apply.

Note: Funds will be made available to your student according to the “Higher One Funds Availability Schedule.” (See chart below)

HOW TO send MOney

1

2

3

4

5

6

Funds availability schedule

day initiated First $100 available remaining Funds available

Weekday Next BusiNess day 4th BusiNess day aFteR day OF dePsOit

WeekeNds* 2Nd BusiNess day 4th BusiNess day aFteR day OF dePsOit

*when sending mOney On weekends Or hOlidays, the First $100 sent will be dePOsited On the 2nd available business day.

8 9


it’s easy to “request money” from family and friends, and receive it quickly, right to your Oneaccount!

With the OneAccount’s “Request Money” feature, you can request money from anyone with a U.S. bank account and a valid email address.

When parents or family members sign up to “Send Money,” they can instantly transfer money to your OneAccount. No waiting for a check to be mailed, or for family to make a special trip to the bank for you. Normally, a transfer of money from any bank account to a student’s OneAccount can take up to three business days. However, as a courtesy to OneAccount holders, Higher One will make available the first $100 dollars of a funds transfer on the next business day.

requesting money step by step1. Log in to your OneAccount.

2. From the main menu bar select “OneAccount,” then “Request Money.”

3. Enter the email address of the person from whom you are requesting money, the amount you’re requesting and any message to send along with your request.

4. Click the “Submit” button.

Should you need more information, you can get answers to the most frequently asked questions through our EasyHelp system. Just log on to your program website. From the main home page, click on the link for “EasyHelp.” You can even submit a question and receive an answer directly from a Higher One Customer Service representative.

requesT MOney

10


11

it’s easy to send money from Oneaccount to Oneaccount. The electronic transfer is instant, and the money is available immediately.

Here’s how:1) Log in to your OneAccount.

2) From the main menu bar select “Send Money,” then “Send.”

3) Type in the recipient’s email address, the amount you’re sending and any message or note to send along.

4) Select the funding source (in this case it would be “OneAccount”) and then click “Send.”

Want to learn more? Get answers to the most frequently asked questions through EasyHelp. Simply log on to your program website and, select “EasyHelp.” To submit a question and receive an answer directly from a Higher One Customer Service representative.

send MOney

10 11


exTra serviCesfee-based services* that Oneaccount holders may take advantage of.

personalized checks Checks are useful when you cannot use your card. There is a nominal charge to purchase checks which covers the cost of printing and shipping.

stop paymentOrder a stop payment on a check which has not reached its payee, canceling the check so another may be issued.

Official checksSometimes, for unusually large purchases, a dealer may require a check directly from your bank - an official check.

Wire transfersWhen you need to transfer large sums of money quickly, whether domestic or internationally, use a wire from your OneAccount.

use other aTMsWhile it’s free to use Higher One ATMs on or near campus, using non Higher One ATMs costs $2.00 per transaction.

Bill payment serviceOneAccount holders can sign up for unlimited Online Bill Pay. For a low monthy fee, the online bill payment service can more than pay for itself with the money you’ll save on postage and late fees. Get unlimited Online Bill Pay FREE, with a minimum payroll direct deposit of $100 into your OneAccount.

*Fees are subject to change. You can view the current fee schedule by clicking on the “OneAccount Fee Schedule” link located in the “Learn About the OneAccount” section on the home page of your program website.

12


easyHeLpsM

24 hours a day, 7 days a week, help is only a click away! get answers fast EasyHelp is an interactive FAQ system that allows OneAccount holders to quickly and easily find answers to questions about their card, OneAccount, or school refund.

How to use easyHelpTo get started using EasyHelp, log in to your OneAccount and select “EasyHelp” from the “Help” menu.

The “answers” tab1. In the “Topics” sub-menu, select the topic of your question

such as “Password/PIN” or “Financial Aid Refunds.”

2. Select a sub-topic that corresponds with your topic. For example, if your topic is “Password/PIN” then your sub topic might be “Reset PIN.” Then just click “Search” for the answers on resetting your PIN number.

3. You can also select “Search by Category” and “All,” then type in specific keywords in the search bar to find a particular answer you’re looking for.

The “ask a question” tab (Available only if you have a confirmed email address)

If you’re unable to find an answer, you can use the “Ask a Question” tab. Contact a Customer Service representative and ask a specific question online.

The “support History” tab (Available only if you have a confirmed email address)

Track your service requests here. Including any feedback you have provided, questions you have submitted and answers you have received.

12

easyHeLpsM

Banking services provided The Bancorp Bank, Member FDIC.

The Debit MasterCard® is issued by The Bancorp Bank pursuantto license from MasterCard International Incorporated.

The Card is administered by Higher One, Inc.

oneaccount · to locate a higher one atm on campus, login to your oneaccount and from the “quick...

Documents