You must have heard of “One”(One Finance) or probably use the service and you’re kind of wondering what more can you do using One Finance. If you’re here to know more about “One” then you’re in the right place.
In today’s article, we’re going to discuss everything you need to know about One Finance such as One Finance pocket, the pros and cons of one finance, how one finance works, how to access your money on one finance, methods of withdrawal, One Finance Overdraft, and many more.
This article is going to be a lengthy one as we’ll be covering so many things you need to know about this company. So relax, get a cup of coffee and keep reading while we reveal so many truths and facts about One Finance.
Also Read: Access Bank DBA Lite Account or Trader Lite Account
About One Finance /Company Profile
One Finance or “One” was founded in 2019 by Bill Harris and Brian Hamilton under a legal name known as One Finance, Inc. The company is a banking and financial service provider with headquarters in San Francisco Bay Area, West Coast, Western US.
At the time of writing this article, One was able to raise the total sum of $66 million as a seed fund within 3 rounds. Their last funding took place around August 18, 2021, from a series B round. The company is funded by 5 investors Progressive Investment Company and Obvious Ventures are the most recent investors. As of January 26, 2022, the bank was able to acquire even.com.
Who Owns “One” Or One Finance?
One was founded by two amazing minds. Bill Harris and Brian Hamilton in 2019. Bill Harris is the co-founder and chairman of One. Bill was previously the founder and CEO of Personal Capital and founding Chairman of MyVest. Bill is regarded as a leader in the financial technology industry due to his amazing track record of creating and growing companies from a scratch into a dynasty. He also served as CEO of Intuit and Paypal, one of the most successful payment processors in the united state. As a former president of Chipsoft (makers of TurboTax), he was able to massively grow the company completely from $15 million in annual sales into a public company valued at over $250 million.
Bill has served as a well-appreciated board member in several public and private companies due to his track record. A good example of these companies is Yodlee, RSA, Earthlink, Macromedia, SuccessFactors, and many more. Bill has a BA from Middlebury College and an MBA from Harvard Business School. You can know more about Bill Harris on Linkedin.
On the other hand, Brian Hamilton, the chairman, and co-founder of Sageworks artificial technology FIND, the leading financial analysis technology for analyzing private companies, is used by thousands of accounting firms and financial institutions across North America. Hamilton is an admiring Icon who has appeared in major business and financial outlets in the united state including the Wall Street Journal, CNBC, and The New York Times, in the business discussions to talk about private company performance, and the different financial strengths of companies preparing for PO, and entrepreneurship.
Hamilton serves on the Board of Trustees for Sacred Heart University, and he founded Inmates to Entrepreneurs, a community outreach program focused on teaching ex-offenders to start low-capital businesses. You can know more about Brian Hamilton on Linkedin
How To Open a One Finance Account
- Visit the One Finance website using this URL https://web.onefinance.com/signup, and select Join Now.
- Enter your email address and create a password, then select Get started.
- Enter your first name, last name, and mobile phone number, then select Continue.
- Enter the verification code sent to your mobile phone.
- Enter your home address and click Continue.
- Enter your date of birth and Social Security number and click Continue.
- Follow the prompts to finish setting up your account by linking to an external bank account.
- You’ll get your One Finance debit card in the mail within 7 to 14 business days after you create your account, but you’ll also receive a virtual card you can add to a digital wallet right away.
How To Deposit Or Withdraw From One Finance
- Direct deposit
- Wire transfer
- ACH transfer
- Mobile check deposits using the One Finance app
- Transfer from an external account
- ATM
- Cashback at a retailer
- Wire transfer
- ACH transfer
- Transfer to an external account
Pros and Cons Of One Finance
Pros
- The interest rate is very high on savings
- Your purchase is rounded up and put into savings
- Access to an overdraft line of credit
- No-fee account
Cons
- There are no separate accounts for checkings and savings
- It is not ideal if you plan to have a large balance in your savings account
- Youn can’t reach customer support during weekends which is bad in the case where fraud is being committed on your account
Features Of One Finance or “One”
How Trust Worthy And Reliable Is One Finance?
One Finance is very reliable as it is backed by Coastal Community Bank just in case something goes wrong. According to Better Business Bureau, Coastal Community Bank’s trustworthiness rating is A+.
Even though a good BBB rating might not guarantee a perfect banking experience, you can still make your own individual research by asking friends and families about their experience using One Finance, or better still you can check customer reviews online to see what customers are saying.
So far so good, there is no evidence of any public scandal of recent as at the time of writing this article. So I’ll recommend you to go ahead and make use of the bank. You can also read customer reviews from Trust Pilot.
Benefits Of One Finance
- As a customer of One Finance, you get to enjoy some amazing benefits such as;
- You get free access to over 55,000 Allpoint ATMs in the united state
- Your One Account can serve as a hybrid account for both checking or savings account
- You can get to set up a saving pocket and earn 1% APY on your balance when it is above $5000
- You can use your debit card as a line of credit just in case you overdraft your account.
- Earn more rewards by setting up direct deposits: Earn interest on your Save Pocket balance up to $25,000; increase your line of credit; put 10% (up to $1,000 per month) of paychecks into Auto-Save where it earns 3% APY
- Deposits are FDIC insured through Coastal Community Bank
- With One Finance, you can round up your debit purchases to the nearest dollar, and this money goes into Auto-Save Pocket; earn 3% APY on your Auto-Save Pocket
Eligibility/ Requirement For One Finance Account
Eligibility
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
One Finance Bank Phone Number (How To Contact One Finance Customer Support)
- Email help@onefinance.com
- Call 855-830-6200
- Live chat in the mobile app
One Finance Customer service hours are weekdays from 9 a.m. to 5 p.m. PT.
Disclaimer: We’re not in one way or the other an affiliate of One Finance nor are we paid by one finance to write a positive review about the company. We try to give accurate information based on facts in other for you to make the right financial decision when trying to use any financial or banking services.
