#PFM #BankTech / One’s Digital Banking Service Redesigns Banking for Modern Life Introduces First Digital Banking Service to Combine Saving, Spending, Borrowing and Sharing in One Account

Created by the founding CEO of PayPal and a former Capital One executive, One launched today its new digital banking service that redesigns banking for modern life. It combines the technology and convenience of a digital bank with a full-suite of products that traditional banks offer.

One has redesigned the key fundamentals of banking, with an innovative approach designed for real life and real people. It’s the first digital banking service to seamlessly combine saving, spending, sharing and borrowing into one account, with one card.

A new and easier way to spend and share money with family, friends and more
One has introduced a new way to organize money and share it with others, called Pockets. You can create unlimited Pockets for any spending or savings goal, and share them with anyone in your life-with no fees, no additional paperwork and no hassles of joint accounts, or one-off payment requests… Your One card can be connected to any Pocket so you can easily pay for expenses with money you’ve allocated to a specific Pocket, and others you’ve shared the Pocket with can spend from it with their One card as well.

An integrated line of credit for flexible spending
Every One account comes with a Credit Line, so you can spend confidently knowing One will cover you if your account dips below zero, rather than charging you overdraft fees like other banks. If you pay it back within the calendar month, you pay no interest. If you need to carry a balance into the next month, you pay 1.00% per month (12% APR) on any amount borrowed.

One card to rule them all
Every One account comes with a Mastercard Debit card that can also connect to your mobile wallet; and when you set up direct deposit, you can also use your One card as a credit card.

Customer support that goes above and beyond what other digital banking services offer
One doesn’t automate customer support. You can schedule a call at your convenience with our Customer Experience team. Because everybody deserves great service from their bank, not just the wealthy.