ONE Review 2024: A Comprehensive Look at the Talked-About Banking App and Card

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Written By
G. Dautovic
July 06, 2023
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ONE is an online banking service that comes with a mobile app, a card with a variety of features, and a Pockets feature that allows users to separate their money into designated pockets. 

In this ONE review, we’ll take a comprehensive look at the different aspects of the platform and see how it stacks up against the competition. We’ll also discuss the pros and cons of using ONE so that you can decide if it is the right choice for you.


No minimum account balance

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Fortunly Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

5% on savings accounts
Up to $200
55,000 nationwide
pros thumb up Strengths
  • No fees
  • No minimum account balance
  • User-friendly interface
  • Provides a virtual card
  • Offers an Auto-Save Pocket
  • Has the Share feature
  • Supports biometric verification
  • Rarn 3% cash back at Walmart, and other cash back offers at select merchants
pros thumb up Weaknesses
  • Customer support not available on weekends
  • Share not available with Auto-Save Pocket on

ONE Overview 

ONE is a relatively new fintech company, as it was founded in 2019. Nevertheless, it managed to generate some buzz with its financial banking app in a short time. The standout features include Pockets, Auto-Save and Share.

It should be noted that ONE isn’t a bank in the traditional sense. However, it’s partnered with Coastal Community Bank, through which it’s FDIC-insured for up to $250,000. The headquarters of ONE are in Sacramento, California.

How Does ONE Compare To Other Similar Financial Institutions?

ONE Logo
Monthly Fee:


Minimum Balance:


Chime Logo
Monthly Fee:


Minimum Balance:


Wells Fargo Logo
Wells Fargo
Monthly Fee:

$10; can be waived by reaching a $500 minimum balance

Minimum Balance:


ONE Features and Financial Products

ONE offers a card and a mobile app. The ONE mobile app supports a number of features, some of which make it stand out from the competition, while others are the industry standard. 

ONE Cards

When it comes to card type offers, there is only a ONE debit card. Prepaid and credit cards are not provided.

The card should arrive within seven to ten business days after opening the ONE account. In some cases, it may take up to two weeks. You don’t have to wait to use your card, though, as the company offers a virtual card which you can use as soon as you set up an account. 

The virtual card connects to Google Play and Apple Wallet and can be used to make purchases. However, you can’t withdraw money from an ATM with it.

If your card gets stolen or there’s some suspicious activity on your account, you may use the ONE website or mobile app to lock the account remotely.

The ONE Pocket System

ONE Pockets are a neat feature that many users find beneficial. Pockets work in a way similar to cash envelopes. By default, the customer gets two types of Pockets - Spend and Save. They may create up to 99 of these subaccounts.

There is also the special Auto-Save Pocket the user may activate. Save and Auto-Save function as checking accounts and allow you to save up money. The Save Pocket earns you a 1% annual percentage yield (APY), while with Auto-Save, you receive 3%. 

If you’re looking for something more conventional, check out some of the top choices for a standard checking account

On top of that, there is an option to share the Spend or Save account with another ONE client.

This is a handy feature, as it makes splitting the bill and sharing expenses with someone much more convenient. However, keep in mind that if you’re using Auto-Save, the Share feature isn’t available to you.

Early Direct Deposit

Early direct deposit, also known as Early Paycheck, is a feature many other financial institutions offer, so it’s nice to see that ONE delivers in this aspect as well. 

ONE doesn’t take into account only paychecks from employers. Other forms of income are included, such as retirement payments, social security income, government salary, and more. Early direct deposit can arrive up to two days early.

ONE Fees and Daily Limits

A major perk of the ONE digital bank account is the fact that there are virtually no fees. While traditional banks usually charge monthly fees, account fees, overdraft fees, non-sufficient funds fees, and foreign transaction fees, ONE charges none of those. There are also no minimum balances. 

However, keep in mind that there are some daily limits. There is a $5,000 limit on transactions and a $500 limit on ATM withdrawals.

ONE Promotions and Referral Bonus

At the moment of writing, no ONE promotions are available. Even so, the company frequently updates their offer, so make sure to check its website for the latest promotions. 

There is, however, an attractive ONE referral bonus available now. Those who refer someone to the ONE services receive $50 after depositing at least $250 in a single transaction. The referred also gets that amount.

ONE Security

Given that ONE is a financial platform, it is no surprise that the company has taken steps to ensure that the customers’ ONE accounts are kept secure. First, the app employs 256-bit AES-level encryption, a powerful type of protection.

Additionally, you can set up notifications that alert them every time their ONE card is used. There is also an option to use fingerprints or Face ID to unlock the app.

That’s not all, as you may instantly block all transactions in the app if there’s any suspicious activity, and there is also the Pocket lock feature.  

ONE Customer Support

The ONE customer support is available via live chat, phone, and email. While the various contact options are great, the agents aren’t available 24/7 nor during weekends. You can contact them from Monday to Friday, between 8 a.m. and 5 p.m PST.

However, you may be able to find your answers in the FAQ section or if you ask the chatbot.

ONE User Reviews

ONE reviews suggest that the customers are divided when it comes to the company’s services. The rating they collectively gave is 3 out of 5. However, this is only based on 42 reviews.

One customer was extremely satisfied with the service until the company discontinued the line of credit feature.

There used to be a ONE credit line that was interest-free as long as the overdraft was repaid by the end of the month. Some feel that without this feature, the company isn’t ahead of its competition anymore.

Regarding positive reviews, a user noted that they loved the ONE Pocket system. Others praised it for having no monthly fees and no account balance minimums.

Those who gave it a bad score reported that the app lacks features that they need, such as bill pay. Also, they didn’t like the fact that once you close the account, you can never open one again.

All in all, it’s clear that ONE offers features that appeal to a lot of customers, even though some find that it doesn’t have everything they need. Thus, when choosing a banking service, it’s crucial to make sure that you select the “ONE” (pun intended) that suits your specific needs. 

It’s up to you to look up all the offers before you make your decision.

Who Is ONE a Good Fit For?

ONE is excellent for people who have trouble saving money and living from paycheck to paycheck. They could surely benefit from ONE’s Save and Auto-Save features. 

Also, it’s hard to overlook the fact that there are no monthly fees, account fees, or non-sufficient fund fees, so anyone who doesn’t have enough funds to pay for a number of fees would be satisfied with ONE.

What Are the Downsides of ONE?

The primary downside of the ONE app is that it no longer has a line of credit like other similar platforms do. So, if you need access to quick cash, you might want to look elsewhere. Additionally, it lacks a built-in bill pay feature, which is a shame, as many users find this option very useful. 

Final Verdict

ONE has a lot to offer to those who can’t afford to pay for costly monthly and other fees. On top of that, the customers can save up using the Save and Auto-Save option by taking advantage of a competitive APY. 

Certainly, there are some handy features it doesn’t have, but despite this, ONE remains a solid choice for anyone looking for an online banking platform and debit card.


Is ONE legit?


Yes, ONE is a legit company, with headquarters in Sacramento, California.

Is ONE FDIC insured?


Yes, customers’ deposits are FDIC insured for up to $250,000​​.

Is ONE a good bank?


Technically, ONE isn’t a bank but rather a fintech company. It’s different from a traditional bank as it offers features, like Early Paycheck, that conventional banks don’t have. In addition, the bank typically charges the monthly account and other fees, and with ONE, you get to avoid that. We recommend reading our ONE review to learn more.