Recent articles at Mlive.com have raised questions about a Higher One settlement due to a class action lawsuit. Since Higher One is KVCC’s processor for student credit balance refunds, we are providing the following information related to reimbursements, utilizing services without fees and clarifying that KVCC does not receive any compensation from Higher One for using their product.
First, we do not know how, or if, this will impact KVCC students. Any reimbursements made as part of the settlement will be based on individual student accounts and will be paid directly to students by Higher One. KVCC does not have access to any information related to potential refunds of fees to individual student accounts.
Second, all students have the ability to access their credit balance refunds without charge.
If you are a student, or know of a student, incurring fees on a regular basis visit: ValleyOneCardHigherOneAccount to see “How to Avoid Fees” information available at the Higher One website.
Third, like any other bank, Higher One charges standard service fees for overdraft of funds, use of foreign (non-Higher One) ATM’s and merchant based PIN transactions to name a few. A review of Higher One charges compared to a major local bank resulted in similar, and in many cases lower, costs for their account services. Students selecting premium account services such as overdraft protection will incur fees just as they would at any other banking institution.
Finally, KVCC does not receive any rebates or compensation from Higher One. KVCC’s interest is to provide the most effective disbursement process possible, at the lowest cost, with the most convenience to our students.
If you have any questions about the above information, or have problems accessing the information at Higher One’s website, please contact us at 269-488-4162 then press 4.
Financial & Business Services
Kalamazoo Valley Community College