Higher One, a provider of financial services to more than 1,250 U.S. college and university campuses, introduced its OneRewards cash-back rewards program for its checking accounts, which are offered to students at partnered educational institutions.
“In the face of regulatory pressures, some large national banks are terminating their rewards programs. So, we took special care to bring back an improved OneRewards cash back program at this time,” said Miles Lasater, COO and co-founder of Higher One, in a press statement.
Higher One accountholders receive cash back in-store and online purchases through participating retailers. The cash back may come in the form of a percentage of the purchase amount or a flat amount (e.g., $15 off a $30 purchase).