Frequently Asked Questions

The RIC Funds Card is designed to provide increased choice when it comes to receiving your refunds, including the "Easy Refund℠” method. Easy Refund is the fastest and easiest way to gain access to your refund money – literally the same day RIC releases it. With this service on the way to campus, it’s natural that you may have some questions. Below are answers to some of the most frequently asked questions about the RIC Funds Card and the refund process.

Students who have questions about the program should contact the Bursar's Office at (401) 456-8130.

You can learn more about this exciting new service at: Outside

What’s an Easy RefundSM to OneAccount?

Offered by Higher One, Easy Refund℠ is the same day deposit of your refund money into an FDIC Insured checking account called the“OneAccount.” With money in your OneAccount, you can make purchases with your RIC Funds Card wherever Debit MasterCard® is accepted.

Will I be notified when my refund has been processed?

Yes. You will receive an email at the address registered with Higher One once you’ve selected a refund preference. If you choose to open a OneAccount and receive an Easy Refund℠, you can also view your account details at Outside and sign up for Mobile Alerts—account notifications sent right to your mobile phone.

What happens if I don’t select a refund preference?

Without a refund preference, Rhode Island College will be unable to disburse your refund. Regardless of whether or not you currently anticipate receiving a refund, it is important to activate your refund preference as soon as you receive your card. Rhode Island College may have a refund waiting for you in the future.

What if I never received my RIC Funds Card?

Simply log on to Outside and use the “Where’s my Card” self help feature for a real time status update on your card.

How are refunds from RIC delivered to students?

To receive your refund, visit Outside to activate your refund preference. Once your refund preference is selected, funds are sent from RIC to higher One who then disburses them according to your selection. If you want the fastest access to your money, simply choose to have your refunds deposited directly into your OneAccount - an FDIC Insured checking account with no monthly fees offered by Higher One. Please Note: In order to receive a refund it's required to activate your refund preference at as soon as your card arrives in the mail.

How do I get my RIC Funds Card?

By mail at your home address on file with Rhode Island College.

I don't think I will ever get a refund. Why is it important to select a refund preference?

Although you might not currently expect a refund from RIC, we may have a refund for you in the future. After all, it may be necessary to drop a class, a class may be cancelled, or you may simply receive a scholarship or assistance you were not anticipating. Selecting your preferred method to receive refunds from RIC ensures you'll always receive your refunds in a timely manner.

What are my options for receiving my refunds?

1. Easy Refund to the OneAccount (FASTEST)

2. ACH Transfer to a 3rd party bank (FAST)

What exactly is the OneAccount?

The OneAccount is a fully functioning FDIC Insured FREE CHECKING account that allows you to access your financial aid refunds quicker and easier than ever before. The OneAccount has no minimum balance, no monthly fees, and free internet banking features. You may also use the RIC Funds Card to make purchases anywhere Debit MasterCard® is accepted and withdraw cash with no fees at Higher One ATMs located on or around campus.

Why have my refunds deposited directly to the OneAccount?

1. Depositing your refund to the OneAccount, and selecting an Easy Refund is the fastest way to access your refund money.

2. The RIC Funds Card is a Debit Mastercard, NOT A CREDIT CARD. It can be used to make purchases at participating merchants that accept Debit Mastercard, get cash at ATMs, pay bills, and more.

3. Parents and friends can easily send you money online via the Send Money feature.

4. It's FREE!

How will I know when my refund has been direct deposited to my OneAccount?

Higher One will send an email to the address you entered during activation when your refund has been deposited to your OneAccount. You can view the details of your OneAccount by accessing your statement online at Outside, or by signing up to receive text messages sent directly to your cell phone with Mobile Alerts.

Can I have my refund deposited to another bank account?

Yes. You may have your refund deposited to the bank of your choice. In order to do so, select ACH transfer (to other bank) for your refund preference during the activation process and complete, print, and mail the required third party form to the designated address.


Page last updated: Thursday, September 22, 2011