OneAccount - Now Even Better Value

NEW HAVEN, Conn., Nov. 30, 2010 /PRNewswire/ -- Higher One, Inc., a technology and payment services company focused on higher education, announced today that it is adding new features to the OneAccount, the optional, no minimum balance, no monthly fee, FDIC Insured checking account.  These new features include two new ways to make deposits.

"These new features of the OneAccount came about as the result of our dialogue with the students we serve," explained Dean Hatton, President and Chief Executive Officer of Higher One. "Our focus on consumer-led innovation and near obsession on keeping our cost structure low has enabled us to provide what we believe to be an account that meets students' needs while costing about half of what it can cost them to maintain any other checking account."

Some of the new OneAccount features include:

• Mobile Source Capture– Higher One has enlisted accountholders to beta test a new, innovative feature that allows account holders to deposit checks using a downloadable app on their Smartphone by taking a picture of both sides of a signed check and uploading it for deposit.
• EasyDeposit(SM) – Like turning a flat-bed scanner into an ATM.  OneAccount holders can scan both sides of their signed check and follow the instructions on their computer screen to make a deposit.  
• Direct to Bank– OneAccount holders can make deposits through Western Union to their OneAccounts.
• Mobile-friendly website – Students will be better able to access information about their accounts anytime, anywhere from their Smartphones.
• Free Online Bill Pay – Allows students to pay bills online by generating a check or electronic online payment. Students can use their OneAccount to make payments anywhere in U.S.
• Financial Literacy – Through multiple channels (Money 101, Money Makeover Contests and Higher One's Financial Literacy and Consumer Advocacy Manager) Higher One helps students manage their money and answer any financial questions they may have.
• Fewer NSF Fees –The OneAccount has implemented a daily NSF fee cap for checks, and does not issue any NSF fees for one-time debit card transactions, or NSF fees after an account is overdrawn 60 days.

"The students we work with are great because they are able to clearly articulate which enhancements would make their lives easier," said Noreen Pfadenhauer, Vice President Consumer Marketing at Higher One. "They are also not shy about experimenting with new features and helping to ensure that the OneAccount fits the lifestyles of a diverse range of college students."

Since Higher One was founded in 2000 by three college undergraduates in an on-campus apartment, the company has kept the lines of communication open for students to provide feedback on Higher One's services.  Higher One regularly surveys the more than 1.5 million OneAccount holders, maintains a student blog called Game Time, constantly updates a Facebook page with more than 6,600 followers, regularly meets with a Student Advisory Board where new ideas are discussed, and sends campus relations coordinators to campuses across the country to obtain feedback and work with students.

These efforts have paid off in a big way, according to Chief Services Officer, Casey McGuane. "As a result of our pursuit of student feedback, we have achieved a 98% client retention rating and an A+ rating with the Better Business Bureau," he stated.

Higher One was an early provider of features like mobile message alerts to help students keep better track of their bank account balances and the ability to email money from OneAccount to OneAccount.

More information about the OneAccount can be found at www.HigherOne.com/OneAccount.

About Higher One:

Founded in 2000, Higher One, Inc., a subsidiary of Higher One Holdings, Inc. (NYSE: ONE), is a leading company focused on helping college business offices manage operations and provide enhanced service to students. Through a full array of services from refunds, payments, electronic billing, payment plans and more, Higher One works closely with colleges and universities to ensure students receive Financial Aid refunds quickly, can pay tuition and bills online, make on-campus and community purchases, and learn the basics of financial management.

Higher One provides its services to distinguished public and private higher education institutions throughout the country to approximately 4.8 million students. More information about Higher One can be found at HigherOne.com.

Higher One offers the OneAccount through The Bancorp Bank. Member FDIC.

SOURCE Higher One Holdings, Inc.