Fee Explanations

Monthly Service Charge: As a courtesy to our customers, the OneAccount does not have a monthly service charge.

Minimum Balance Charge: There is no minimum balance required for the OneAccount. As a courtesy, OneAccount holders may withdraw up to $500.00 per day from a Higher One ATM at no charge. If more than $500.00 is needed, a cash advance may be available by visiting a local banking institution. A fee is assessed for this special service.

First Insufficient Funds Charge: A fee is incurred when you spend more money than you have in your bank account. To avoid insufficient funds charges, please visit the How to use your OneAccount for Free page. Higher one recognizes that even with care, overdrafts may occur. Therefore, the first time an overdraft occurs, the fee is lower than with subsequent occurrences in the following 12 months.

First Uncollected Funds Charge: Not all paper check deposits are immediately available. Unless you are contacted by Higher One Customer Service regarding "Notice of Delayed Availability", $500.00 is available the next business day after the deposit is received. The balance will be available within five (5) business days.

Subsequent Insufficient Funds Charges: A fee is incurred when you spend more money than you have in your bank account. To avoid insufficient funds charges, please visit the How to use your OneAccount for Free page.

Subsequent Uncollected Funds Charges: Not all paper check deposits are immediately available. Unless you are contacted by Higher One Customer Service regarding "Notice of Delayed Availability", $500.00 is available the next business day after the deposit is received. The balance will be available within five (5) business days.

Card Cash Advance Fee: As a courtesy, OneAccount holders may withdraw up to $500.00 per day from a Higher One ATM at no charge. If more than $500.00 is needed, a cash advance may be available by visiting a local banking institution. A fee is assessed for this special service.

Delinquent Account Collection Fee: A negative account balance does not go away when an account is closed. In fact, it results in an additional penalty, such that the outstanding debt increases. This debt still needs to be resolved, even though the account is now closed.

Stop Payment Fee: If you made a payment to someone via a check or electronic transaction (ACH) and no longer wish for that payment to happen or if checks are lost or stolen, you can request that we "stop payment". A fee will be charged for each request, which can be for a single check or a range of checks.

Return Deposit Item Fee: When you make a deposit to your OneAccount, you are endorsing that it is a valid deposit. As a courtesy, Higher One extends availability of your funds before we collect the money from the other bank. If this deposit is not paid by the other bank, a fee is charged to offset the risk and services provided.

Electronic / Paper Statements: Higher One is environmentally friendly and encourages the use of electronic statements. However, paper statements can be requested, and a fee is incurred for the service.

Copies of Checks: Sometimes, to reconcile records or figure out what you paid to whom, you need more information than is offered on a statement. In this case, you can order a copy of the check. This allows you to view a copy of the original documents.

Copies of Deposited Items: Sometimes, to reconcile records to figure what you deposited from whom, you need more information than is offered on a statement. In this case, you can order a copy of the deposited items. This allows you to view a copy of the original documents.

Copies of Statements: Statements can be viewed online for up to 12 months. However, if you need to request a copy of a paper statement a fee is incurred for this service.

Research: On some rare instances, you may be required to produce a large volume of banking documents to rectify a case of fraud; to address questions of taxation; or to simply unscramble some confused financial circumstances. If there was an error made by Higher One, of course, this research is gratis. However, in other circumstances, when the research requires substantial effort on the part of Higher One staff, this will be billed hourly.

Legal Services: You probably won't need legal services via Higher One, but if you do encounter a condition in which certain records are subpoenaed, or wages that are direct deposited into your OneAccount are to be garnished, then you will be charged for the legal services.

Official Checks: Most students use paper checks rarely. In the event that a paper check is needed, it is more convenient to order an official check. Generally, this type of check will be more widely accepted as payment for real estate, cars, or other expensive items as well, even when a personal check would be declined. There is a fee charged to cover the costs associated with this service.

Online Bill Payment Service: Bill Payment is a convenient way to send electronic or paper checks to third parties, such as landlords, utilities, or credit card companies. It reduces the hassle of paying the bills (record keeping, remembering to pay monthly, etc.) and eliminates the need for postage. The fee for this service is charged per transaction, or per month for unlimited bill pay service. The monthly fee for Unlimited Online Bill Pay may be waived when the OneAccount holder is enrolled in Unlimited Online Bill Pay and has payroll deposited to the OneAccount by Direct Deposit (subject to ability to verify legitimacy of payroll deposit) or OneAccount holder maintains a minimum monthly balance of one thousand dollars ($1,000).

Outgoing Wire Transfer (Domestic): If you request that we wire transfer money to another U.S. bank account, we will charge this fee to cover the costs associated with providing this service.

Incoming Wire Transfer (Domestic): There is no charge to receive these deposits from other U.S. banks.

Outgoing Wire Transfer (International): If you request that we wire transfer money to a non-U.S. bank account, we will charge this fee to cover the costs associated with providing this service.

Incoming Wire Transfer (International): Higher One does not charge a fee for incoming international wires. However, we will pass along any fees charged by an international check.

International Transactions Fee: When you perform MasterCard transactions in countries outside of the United States, you will be charged an international transaction fee.

Non Higher One ATM Transaction Fee: When you perform a transaction (such as a withdrawal or balance inquiry) at an ATM that is not operated by Higher One, you will be charged a fee. Please note that you may also be charged a fee by the ATM operator.

Declined Transactions at Foreign ATMs: If you attempt to perform an ATM transaction at an ATM not owned by Higher One and it is declined, there is a fee for attempting the transaction. To avoid this fee, check your balance online and use Higher One ATMs for your cash withdrawal needs.

Lost Card Replacement: Losing a card is a very serious problem. The old card needs to be cancelled and a new card printed. By reporting your card lost immediately, you are covered by MasterCard's Zero Liability Policy.

Merchant PIN Based Transaction: This does not apply to ATM transactions - only to purchases made with your card in a store. There are two ways to make a transaction at a point of sale (retail checkout). One is often labeled "debit" and the other "credit". In reality, these mean "PIN" and "signature" respectively. Using the "signature" mechanism will cost you nothing, while using the PIN will cost you a small fee. By choosing "Credit" you get the benefit of MasterCard Zero liability and don't risk PIN theft. This is why it is suggested that despite the fact that you are indeed using a "debit" card, you press the "credit" button. We know this can be confusing - but remember to "Swipe and Sign" and you won't be charged a fee.

9 Month Inactivity Fee with money in OneAccount: Accounts with no activity cost banks money to maintain. After 9 consecutive months of no activity, a $19.00 monthly fee will be assessed until the account reaches a zero balance. At this time the account will be closed. If the user wants to re-open an account, he or she can do so. This fee will never overdraw the account.

Abandoned Property Transfer Fee: Legally, after a certain amount of inactivity, any balance remaining in an account must be turned over to the state. There is a fee charged to cover the costs associated with this service.

Lack of Documentation Fee: When you open a OneAccount, Higher One is required to verify your identity. Usually we are able to do this automatically from information that you provide. Occasionally we may be required to verify your identity by either obtaining a copy of an unexpired government issued photo identification or by asking you for other information. If we are unable to obtain this information from you within a reasonable period of time, the government requires Higher One to close your account and file certain reports. This fee covers our costs of following these regulatory procedures. To avoid this fee, please provide identification information promptly if asked to do so. If your OneAccount is closed and you are charged this fee, Higher One will refund the fee if you verify your identity and re-open your OneAccount within 30 calendar days after the fee is charged.