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One Finance review

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A spend and save account with up to 3% APY and a line of credit — but watch out for fine print.’s rating: 4.7 / 5.0


One Finance is a free digital spend and save account with some interest perks. You can organize your money into different pockets — or categories — for saving, spending and sharing.

Plus, earn up to 3% APY when you turn on auto-save features and get an instant line of credit if your balance dips below $0. But the APY requirements are complicated and the line of credit could potentially cost you 12% APR if you don’t pay it back the same month.

$0 per month





Minimum deposit to open


APY3.00% on auto-save pocket money saved through paycheck auto-saves and card round-ups, 1% APY on save pocket balances up to $5,000 or $25,000 with qualifying direct deposits
Fee$0 per month
Minimum deposit to open$0
ATMs55,000 Allpoint ATMs nationwide
ATM transaction fee$0
Out-of-network ATM fee$0
Foreign transaction fee0%
Overdraft fee$0

Expert review

Cassidy Horton

Review by

Cassidy Horton is a writer for Finder, specializing in banking and investments. She has a Bachelor of Science in Public Relations and a Master of Business Administration from Georgia Southern University. Cassidy enjoys educating people about financial services, exploring the Pacific Northwest and watching endless reruns of The Office.

Expert review

One Finance is best for those who want a single bank account that can do it all — checking, savings and budgeting.

There are no fees or minimum balance requirements and you have the potential to earn up to 3% APY. Plus, you can divide your money up into different Pockets for spending, saving and sharing. The account also comes with an instant line of credit that kicks in when your balance dips below $0.

But there are a few things we don’t love about One Finance. First, the APY structure is complicated and largely depends on whether you have direct deposits set up.

For example, you’ll earn 1% on money kept in your Save pocket, but the maximum is $5,000 for those without direct deposit and $25,000 for those with it. After that, the APY drops to 0%. Likewise, you must use direct deposit to earn 3% APY on your Auto-Save Pocket money.

The fine print for the Credit Line Through Spend feature is also a bit tricky. You must pay your balance back within the same month to avoid 1% interest. That means if your balance dips below $0 on October 30, you have one day to pay it back before interest kicks in.

How do I open a One Finance account?

Open a One Finance digital bank account online in eight steps:

  1. Go to the provider’s site and follow the steps to apply.
  2. From the One Finance website, click Join For Free.
  3. Enter your phone number and click Send Code.
  4. Enter your verification code.
  5. Create your profile using your name, email address and password. Click Continue.
  6. Enter your home address and click Continue.
  7. Enter your date of birth and Social Security number and click Continue.
  8. Follow the prompts to finish setting up your account.

You’ll get your One Finance debit card in the mail seven to 14 business days after you create your account.


Open a One Finance account when you meet these requirements:

  • At least years old
  • US residential address
  • Social Security number

Required information

Have this information ready when you apply online:

  • Full name
  • Date of birth
  • Phone number
  • Email address
  • Home address
  • Social Security number

What are the benefits of One Finance account?

One Finance is FDIC-insured and comes with these benefits:
  • No fees or minimums. One Finance foregoes most fees traditional banks charge, such as monthly fees, account fees, overdraft fees, foreign transaction fees, ATM fees and more.
  • Organize your money with Pockets. Create unlimited categories for expenses like rent, groceries, bills, vacation and more. Share joint categories with friends and family so they can spend and save too.
  • Autosave features. Move up to 10% of each paycheck to your Save Pocket. Plus, round up every debit card purchase and deposit the difference into savings.
  • Up to 3% interest. Your account comes with a save and auto-save pocket. You’ll earn 1% APY on save pocket balances up to $5,000 or $25,000 with qualifying direct deposits. You’ll earn 3% APY on auto-save pocket money saved through paycheck auto-saves and card round-ups.
  • Line of credit. If your account balance dips below $0, One Finance will give you a line of credit to cover the difference, up to your direct deposit amount. There’s no fee as long as you pay your loan back within the same month. Otherwise, you’ll pay 1% monthly or 12% APR.
  • Automated budgeting. In February 2021, One Finance introduced scheduled transfers, which you can use to automate budgeting by transfering funds from your Spend pocket or a linked bank account to specific Pocket on a weekly, biweekly or monthly basis.

How does my One Finance account earn interest?

The interest you’ll earn with a One digital account depends on two factors: if you have direct deposit set up and which Pockets you keep your money in.

This table shows how much interest you’d earn on money put in your Spend, Save and Auto-Save Pockets depending on whether you set up direct deposits:

Type of pocketAPY earned with no direct depositAPY earned with direct deposit
Spend Pocket0% APY0% APY
Save Pocket1% APY on balances up to $5,000 and 0% APY on balances over this limit.1% APY on balances up to $25,000 and 0% APY on balances over this limit.
Auto-Save Pocket0% APY
  • Auto-saved paychecks: 3% APY on transfers up to 10% of paycheck as long as it’s $1,000 or less.
  • Round-up card purchases: 3% APY on all card round-ups

How does One Finance‘s personal line of credit work?

You’ll see two lines of credit in your One digital account: a Credit Line Pocket and a Credit Line through Spend.

The Credit Line Pocket is like a credit card. It starts accruing 1% interest or 12% APR as soon as you make a transaction. You can access this money at any time by assigning your One card to the Credit Line Pocket. But you must have direct deposit set up to use this feature.

Credit Line through Spend works like overdraft protection. It only kicks in when your Spend Pocket balance dips below $0.

You won’t pay any interest on these funds as long as you pay the balance in full by the end of the month. After that, you’ll pay 1% a month for a total of 12% APR.

One Finance‘s ATM network and fees

You get free access to 55,000 Allpoint ATMs nationwide with your account. One Finance won’t charge you a fee for using a non-network ATM, but the operator might.

What should I look out for?

One Finance has quite a few benefits, but these drawbacks are worth noting:
  • No joint accounts. You can’t open this account with a partner or family member, although you can share as many Pockets with them as you’d like.
  • Direct deposit required for highest APY. The only way to earn 3% APY is to have a qualifying direct deposit and autosave up to 10% of that direct deposit each month.
  • Line of credit can get expensive. One Finance‘s line of credit is only free if you pay it back within the same month. This means if you get a line of credit on January 15, you have until January 31 to pay it off before the 12% APR kicks in.

If you’re looking for a digital account with a simpler APY structure, compare your options to find the right one for you.

Compare One Finance with other digital accounts

Use this table to see how One Finance compares to other digital bank accounts.

Name Product APY Minimum deposit to open ATMs Out-of-network ATM fee
Chime Spending account
Finder Rating: 4.7 / 5: ★★★★★
Chime Spending account
38,000 fee-free ATMs nationwide
Get rid of fees with this mobile-first bank offering consumer-friendly accounts. Chime can also help you save easily and access your paycheck faster.
Aspiration Spend & Save Account
Finder Rating: 3.8 / 5: ★★★★★
Aspiration Spend & Save Account
Up to 1.00%
55,000 free in-network ATMs
Deposits are fossil fuel-free. A spend and save combo account with unlimited cash back rewards and deposits insured by the FDIC.
Finder Rating: 4.8 / 5: ★★★★★
Up to 2.15%
more than 85,000 ATMs nationwide
OnJuno embraces an open banking system for everyone, regardless of their age, location, or income.
Finder Rating: 4.5 / 5: ★★★★★
Fee-free ATM withdrawals at Allpoint ATMs
A digital bank account with no hidden fees, no minimum account balance and no maintenance charges.
Finder Rating: 3.4 / 5: ★★★★★
Varies based on connected bank accounts
Digit analyzes your spending and automatically saves an appropriate amount every day so you don't have to think about it.

Compare up to 4 providers

How do I deposit or withdraw my money?

There are nine ways to access money in your One digital bank account:


  • Direct deposit
  • Wire transfer
  • ACH transfer
  • Transfer from an external account


  • ATM
  • Cash back at a retailer
  • Wire transfer
  • ACH transfer
  • Transfer to an external account

Frequently asked questions

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