Campus Cards, College and University Identification and Security

Higher One launches cash back rewards program

Wednesday, December 12, 2012

Financial services provider Higher One has introduced its OneRewards cash back program for checking accounts that college students enrolled at partner colleges and universities use.

Higher One checking account holders can now receive up to 30% cash back on purchases such as retail and dining, both online and in-store. The OneRewards program will be providing access to more than 100,000 merchants in the network.


All current and new Higher One account holders are automatically enrolled in the program at no cost.

To earn cash back online, customers log into OneRewards.com, click on an online offer, shop then check out on the retailer’s site. To earn cash back in stores, customers can swipe their Higher One card at any participating OneRewards retailer. An earnings profile tool calculates cash back per purchase and keeps track of all cash back earned and cash back deposits. At the end of each month, the rewards are deposited into customers’ accounts. [end] 

Second draft of DOE regs remain troublesome for industry’s future

Chris Corum, Editor & Publisher

After the Durbin Amendment passed in 2010, fee income for banks offering debit cards was significantly reduced. It took just months for totally free consumer checking accounts to virtually disappear. So too went many of the rewards programs and other perks for consumer debit. The lesson was clear … when regulation removes money from one area it has unforeseen consequences, and most often the consumer feels the pinch.

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Regulatory action is being proposed in the campus-banking sector, with the U.S. Department of Education releasing its first draft of regulations on campus debit cards that will effectively prohibit certain fees, constrain marketing practices and institute transparency regarding the college-card provider relationship.

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The University of New Brunswick is adding a unique feature to its campus ID by harkening back the oldest payment method around, cash.

The new university identification cards double as cash cards that can be used at selected businesses on campus. The new IDs have seemingly been a big hit, as an estimated 1,100 students have already made the switch to the new credential.

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NACCU 2014 gave conference attendees the opportunity to learn more about the proposed Department of Education regulations for campus banking partnerships. Presenters highlighted the clauses that could most acutely affect campus card systems. More than 200 campuses took advantage of the opportunity to learn about the pending rule changes.

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