I reported my card stolen the company refuses to take action and has alowed funds to be debitted from my account and they refuse to uphold their zero liability policy. I was then forced to close my account and the company refuses to release my remaining funds in order for me to withdraw them and completely close the account. I returned merchandise to a company and Higher One, Inc says that this is not good enough. They state that they will be holding my funds until 7/8/08, although the company involved has told them that I did indeed return all merchandise and that they will not be charging this account.
The company also informed them that they could dispute the charges and they would immediately take off any hold that they have on the account in order for the account to be closed. However Higher One, Inc refuses to cooperate and abide by their own policy. Thier policy states that any pending transactions will be released back into the account after three business days. They state that they have a right to hold my funds for any length of time that they wish to hold them. There policy also states that they have a Zero Liability policy and they refuse to abide by those policies as well.
I have contacted the President and VP of this financial institution Miles Lasiter CEO, Barbara Luster VP, Kathy Clark Director of Banking, Charlie Jones Senior VP and all others in between; and nothing has been done. I have even contacted The Frost National Bank which is the bank that actually holds the funds and still nothing has been done about this problem.
I have now filed complaints against the bank and the financial services company with the FDIC, FTC, OCC, BBB, and the Attorney General's offices in each state that they do business in. This company is affiliated with processing student refunds for colleges. If anybody is attending a college or university and they use this company I advise you to not have any money processed through this company or any of its affiliates because they will take your money and not allow you access to the money and will make your life a living hell.
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