ONE uses digital banking to simplify how users handle their money through different financial products. As a neobank operating from the U.S., ONE provides Personal account services with a debit card that users can control through their iPhone or Android application. ONE permits US residents to set up mobile bank accounts through its platform.
TrustPilot users gave ONE 1.4 stars from their 207 reviews.
This guide shows you how to create and use your ONE account successfully.
Eligibility criteria
You need to check these conditions before you start your ONE account.
To qualify, you need:
- To live in the United States.
- You need to reach the legal age of 18 to join this program.
- You must show proof of your Social Security Number for the account registration.
Account setup process
To start your ONE account, follow these steps:
- Install the ONE banking app from the App Store or Google Play Store.
- Install the ONE app on your phone by downloading it from your mobile device store.
- Open the app for the first time and tap the Get Started option.
- Enter your email and generate a strong password for your account.
- Provide your complete personal details through the platform using your full name, birthday, SSN and home address.
- You have to submit an image of your valid government ID to prove your identity.
- Connect your existing bank account to your ONE platform by adding your external bank login details or routing and account information.
- Read and approve the terms of service and privacy policy to finish your ONE setup.
Funding your account
After creating your account, you can deposit money by following these methods:
- Send your ONE account and routing numbers to your company for direct deposit payments.
- Direct transfers work between your linked bank and external account.
- The app lets you deposit checks by taking photos through its mobile check deposit service.
Key features
Pockets: Organize your money into different categories or goals, such as savings, bills, or emergencies. Your savings balance will earn higher market rates of interest.
Your account benefits from zero bank fees alongside no service charges for depositing or borrowing.
ONE Card: Receive a Mastercard debit card for purchases and ATM withdrawals.
You can access your direct deposit paycheck two days before payday through the app.
Managing your account
Use the mobile app to watch your account activity and move money between Pockets accounts while setting up transaction alerts. You can contact the customer support team within the app either through chat or email to solve your issues.
Security measures
ONE ensures your money is protected under FDIC insurance rules while its partner banks maintain the program. The app protects your account through multiple factors and biometric security features. A neobank service announced its launch for the middle class market sector after securing $17 million in Series A funding from Foundation Capital, Core Innovation Capital and Obvious Ventures.
After launching in January 2019, One has now secured $26 million through its different funding stages. The startup operates from San Francisco and Sacramento, California, with its chairman and co-founder Bill Harris supplying $9 million initial funding.
When money is managed from a single source, members save more while receiving lower fees and taking back control. The one platform identifies a business opportunity within banking. Neobanks serve wealthy clients whereas digital banks focus on serving younger users with basic financial requirements. Most typical American families have no suitable banking solutions. One intends to start its public service this summer and its new investment funding will help expand operations toward that outcome. The company currently has 40 employees.
Following this guide will help you use your ONE account’s features successfully and make banking easier for yourself.
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