We earn a commission from brands listed on this site. This influences the order and manner in which these listings are presented.
BestMoney logo

ONE Summary

Visit Site
Christian Rigg
Mar. 03, 2024
5 min read
ONE Summary
ONE is a fintech company that offers an online checking account which you can use to save money, and debit Mastercard through its partner Coastal Community Bank. Users with at least $500 in monthly direct deposits can benefit from 5.00% APY, earlier paydays, 3% cash back at Walmart (up to $50 annually), and other exciting features. The app is simple to use and well-rated on the iOS App Store and Google Play Store.


  • No monthly fees with eligible direct deposits, no minimum balance
  • Fee-free withdrawals at Walmarts nationwide
  • 5.00% APY on eligible savings deposits


  • 3% Walmart cash back limited to $50 annually
  • Direct deposit required for some features

ONE at a glance

Editorial score


No monthly fee banking and withdrawals with eligible direct deposits; otherwise, a $3 fee may apply.


FDIC-insured up to $250,000; 256-bit AES level encryption; biometric authentication.

Customer service

Support available by phone (855-830-6200) from 9 a.m. to 9 p.m. ET, seven days a week; in-app chat available 24/7.

Online experience

Website is straightforward to use, with rates, fees, and all features — including account statements, transfers, and Walmart money withdrawals — clearly indicated and easy to navigate.

Mobile experience

Like the website, the app is enjoyable to use and includes all the same banking features. Available for iOS and Android.

ONE   ONE Visit Site

Advantages Over Traditional Banks

ONE offers several advantages over traditional banks, especially if you receive direct deposits.

All users benefit from no monthly fee banking with eligible direct deposits, with no minimum balance requirement. Your ONE account comes with a checking account, physical debit Mastercard, and interest on savings. 

If you set up direct deposit (minimum $500) with your ONE account or hold at least $5,000, you’ll receive a host of additional benefits that make the product increasingly attractive.

These benefits include a 5.00% APY on your savings, employer payments up to two days early, 3% cash back on Walmart purchases (up to $50 per year), and up to $200 in overdraft protection (only available with direct deposits, even if you hold more than $5,000).

Cutting-Edge Banking Services

A ONE account includes some neat features to help you manage and save money.

For example, you can use the Pay Autosave feature to automatically move a portion of your (direct deposit) paycheck each month. Doing so activates the 5.00% APY on up to $250,000 in savings. You can also use the Round-ups feature to save with every purchase and create up to three “pockets” to organize your savings. 

For Walmart shoppers, the ONE app is even more interesting. You can add or withdraw cash from any Walmart — even at the checkout line — and you’ll benefit from 3% cash back (up to $50 per year) on eligible purchases at the retailer. 

Traditional Banking Services

The ONE web and mobile apps include all the basics you would expect of an online bank. You can easily move money between accounts, send money to friends and family, pay bills online, and check up-to-the-minute balances. 

You can withdraw cash at any of 55,000 ATMs nationwide and at Walmart. 

ONE isn’t a bank, though, so it doesn’t offer mortgages, individual retirement accounts (IRAs), or student or auto loans. 

Interest Rates and Fees

Your ONE savings start with an interest rate of 1.00% APY, but you can increase this to 5.00% APY by either receiving $500 per month in direct deposit or holding more than $5,000 in your ONE account. 

Checking account0%
Savings: Receive at least $500 per month in direct deposits or hold at least 5.00% APY
$5,000 in your ONE accounts
Savings: All other customers1.00% APY

Likewise, no fees are associated with your account, provided you’re a direct deposit ($500 minimum) customer. Otherwise, you’ll pay $3 per ATM withdrawal, Walmart withdrawal, mailed check, and online bill payment. 

Monthly fee$0
Overdraft fee$0

$0 (for direct deposit customers at Allpoint network ATMs)

$3 (for all other ATM withdrawals)

Barcode cash fee (withdraw cash at Walmart)

$0 (for direct deposit customers)

$3 (for non-direct deposit customers)

Customer Service and Online Experience

You can reach ONE’s customer service at 855-830-6200 from 9 a.m. to 9 p.m. ET, seven days a week. You can also access the in-app chat once you have an account 24 hours a day, seven days a week.

The ONE app boasts a rating of 4.7 out of five stars on both the iOS App Store and Google Play Store. However, it has a rating of only 1.7 out of five stars on Trustpilot, with most customer complaints centered around getting support and frozen accounts.

The ONE website is easy to navigate, and the help center’s articles are well-written with clear step-by-step instructions. 

Signing up is straightforward, although the process differs depending on whether you’ve purchased a ONE retail card in-store or are signing up via the app. ONE retail card owners should download the app and scan the QR code on the package to create a full account and benefit from all of ONE’s features. Otherwise, download the app and click “Join ONE.”

Mobile App

The ONE app is available on iOS and Android and benefits from positive customer reviews (4.7 out of five stars on both platforms). 

It’s simple to navigate: You can access most everyday banking features directly from the dashboard and see up-to-the-minute account balances. Click on checking or savings balances to see your transactions, manage savings Pockets, and transfer funds.

The convenient Cash Control menu has options for everything related to incoming and outgoing money, including paying bills, sending money, and mailing a check. 

Finally, the ONE card works with Apple Pay and Google Pay. 


The ONE app features 256-bit AES-level encryption for data, both in transfer (when you use the app to manage your money) and at rest. You can secure your account with Face ID or fingerprint authentication, too. 

Your money is insured by the Federal Deposit Insurance Corp. up to $250,000 through ONE’s bank partner, Coastal Community Bank, which also issues the accounts and cards.

Notifications can help you stay abreast of fraudulent or suspicious charges, and if you lose your card or it gets stolen, you can freeze it from the app. ONE doesn’t have a dedicated fraud team but will provide immediate support via its regular customer support channels should you suspect your account security has been compromised.


ONE offers several interesting features for managing your money, especially for users who have their paychecks directly deposited into the account. These features include a 5.00% APY on savings, $200 in free overdraft protection, paychecks up to two days early, and more. The app has good ratings on the iOS App Store and Google Play Store and several security features to make online banking safer.

ONE   ONE Visit Site


To craft this review, we gathered information through ONE’s company website and help center, as well as verified online user reviews from app stores and Trustpilot.


ONE is a financial technology company, not a bank. Banking services provided by Coastal Community Bank, Member FDIC. Approved accounts are FDIC insured up to $250,000 per depositor. ONE card is issued by Coastal Community Bank pursuant to licensing by Mastercard® International.

BestMoney is not compensated for reviews. The review is solely that of BestMoney.

1. For ONE Retail Cards purchased at an in-store retail location, a $5 ONE Retail Card Fee will be applied 15 days after purchase and then every month until you apply for a ONE account, are approved, and make an additional deposit.

2. 5.00% annual percentage yield (APY) applies to the primary Savings pocket and custom pockets of customers who either (i) received $500 or more of eligible direct deposits in the previous month or (ii) have a total daily account balance of $5,000 or more. Customers can also earn 5.00% APY on Pay Autosave and ONE@Work Save balances. In all instances 5.00% APY is limited to a total Savings balance of up to $250,000. All other Savings balances will earn 1.00% APY.

APYs are as of 2/07/2024, but may change at any time before or after account opening. Fees may reduce earnings on this account.

3. To receive 3% cash back, eligible customers (at the time their purchase settles) must (a) have received $500 or more of eligible direct deposits in the previous month, or (b) have a total account balance of $5,000 or more. 3% cash back is limited to up to $50 per year and applies only to purchases made at U.S. Walmart locations and on Walmart.com. This promotion may not be combined with other ONE promotions that offer cash back on purchases at Walmart. Terms Apply

4. Cash back can be earned through the Cash Rewards Program. See the ONE app for individual offer requirements. Terms apply

5. Direct deposit may be available up to 2 days in advance, but depends on when your employer sends paycheck data.

6. With eligible direct deposits totaling at least $500 in the previous month. Must be 18 or older to receive overdraft protection. Overdraft balance is due right away. Transactions eligible for overdraft protection are determined by ONE. See details

7. Allpoint Network ATM transactions are fee-free for accounts with eligible direct deposits totaling at least $500 in the previous month. For all other ATM transactions the ONE ATM Fee will apply and third-party ATM fees may be incurred.


One Finance Inc., Nationwide Multistate Licensing System ("NMLS") ID 2273210 One Finance Services LLC., Nationwide Multistate Licensing System ("NMLS") ID 2460509

© Copyright 2024 ONE Finance, Inc. All third party products, names, logos and brands are the trademarks or registered trademarks and property of their respective owners. Use of them herein is for identification purposes only and does not not imply any ownership, affiliation or endorsement.

Written by
Christian Rigg
Christian Rigg is a freelance writer who’s spilled ink on everything from finance and technology to data science. Born and raised in Canada, he currently lives in the south of France. He writes for BestMoney and enjoys helping readers make sense of the options on the market.‎
Top Online Banking
Read Review|Visit Site
Read all reviews

Must Reads

How Banks Are Building Trust with Customers in 2024
May. 19, 2024
What Is a Savings Account and How Does it Work?
May. 19, 2024
How to Choose the Right Online Bank for You
May. 19, 2024
Read all articles