OnePay: Your All-in-One Banking Solution in 2025
Updated May 2025
OnePay, a fintech backed by Walmart, simplifies personal finance by offering a range of products and services for digital-first users with a mobile app blending checking, savings, and credit-building tools. Partnering with Coastal Community Bank or Lead Bank, Members FDIC, OnePay insures deposits up to $250,000 per depositor, with aggregation across partner bank accounts. Learn more at onepay.com/legal/licenses.
Products and Services
OnePay’s app (4.8/5 App Store) offers:
- Spend Pocket: No monthly fees, no minimums, no overdraft fees; 55,000+ Allpoint ATMs. Cash+ users ($500+ monthly direct deposits or $5,000+ balance) get fee-free Walmart withdrawals, $200 overdraft protection, and 3% Walmart cash back (up to $150/month). Mastercard debit card supports Apple/Google Pay.
- Savings Pocket: 3.75% APY on up to $250,000 for Cash+ users; 1.00% APY otherwise. Pay Autosave and Round-ups boost savings. Sub-pockets aid budgeting.
- Early Direct Deposit: Paychecks up to two days early for qualifying deposits (employer, Social Security, government).
- Merchant Cash Advances: $5,000–$75,000 (6–12 months) via OneProgress Services LLC for eligible users.
- Credit Builder Card: Secured card (0% APR) for Cash+ users, reports to TransUnion, Experian, Equifax.
- P2P Transfers: Instant internal transfers; external ACH (1–7 days, $3 instant). Supports Cash App, Venmo, PayPal. No wires.
- Mobile Check Deposit: Available for Cash+ users.
Target Market
OnePay serves digital-first individuals, gig workers, Walmart shoppers, and those building credit, requiring U.S. residency and SSN.
Pros and Cons
Pros:
- Transparent fees; no monthly/overdraft costs (2.5/5 Trustpilot, 588+ reviews).
- 3.75% APY for Cash+ users; Pay Autosave/Round-ups.
- Early direct deposit (up to two days).
- Intuitive app; 55,000+ fee-free ATMs.
- Credit Builder Card and $200 overdraft protection.
Cons:
- No branches; no checkbooks.
- No savings without Cash+ status (1.00% APY).
- $3 ATM fees without Cash+; no wires.
- Slow support (phone/chat); account freezes reported.
- No traditional credit cards.
Rewards Program
OnePay offers 3% Walmart cash back (up to $150/month), $125 signup bonus ($250+ direct deposit), and $50/referral (up to 10). Pay Autosave and Round-ups enhance savings.
Marketing Niches
OnePay’s “More. For your money.” platform, backed by Walmart, emphasizes simplicity, rewards, and credit building for digital users via social media.
Final Thoughts
OnePay’s no-fee Spend pocket, 3.75% APY Savings, and Credit Builder Card suit digital-first users, with merchant cash advances for growth. Limitations include no checkbooks, no wires, and reported freezes/slow support. Its 3.2/5 Trustpilot score (400+ reviews) reflects strong features but service issues. Explore at onepay.com.
