OnePay – Mobile Banking

Managing everyday finances often requires juggling multiple services for deposits, borrowing, and credit building. OnePay – Mobile Banking brings these functions together by allowing users to spend, send funds, borrow, and grow their savings from a mobile interface. Developed as a financial technology platform rather than a chartered bank, it partners with Member FDIC institutions, specifically Coastal Community Bank or Lead Bank, to provide underlying banking services and deposit insurance.

Savings Yield and Account Protections

Funds held in the deposit account’s Savings balance earn an annual percentage yield of 3.35%, though this rate remains variable over time. For day-to-day spending, users who receive qualifying direct deposits totaling at least $500 in the current or previous month gain access to Fee-Free Overdraft, provided they are 18 or older. When enabled, a Savings Backup feature draws from savings reserves before overdraft coverage activates. Any remaining overdraft balance must be settled immediately, and certain transactions, including bill pay and global money transfers, do not qualify for overdraft coverage.

Earning and Redeeming Cash Back

Users can accumulate cash back through OnePay Points across eligible card transactions. Earning points requires opening the app each month to manually select an active cash back category, with earnings starting on the day of selection based on merchant category codes. Purchases made with the OnePay CashRewards Mastercard, subject to credit approval, also earn points. Rewards can be redeemed directly as a statement credit, deposited into a OnePay deposit account, or converted through other available payout methods. For linked third-party cards or specific credit card promotions in the OnePay Wallet, transactions must be processed with the physical card rather than digital passes to qualify for rewards.

Credit Building for Families and Digital Assets

The platform includes tools aimed at establishing credit history for younger household members. Parents or guardians can add teens aged 16 or 17 as authorized users on their Builder Card. Once the teen turns 18, their historical account activity from age 16 onward is reported to credit bureaus, provided their Social Security number has been verified and their authorized user status remains active. For users interested in trading digital currencies, enabling OnePay Crypto links the platform to Zero Hash LLC and Zero Hash Liquidity Services LLC accounts, subject to state availability and regulatory approvals.