New Banking App “One” Offers Up to 3% APY & More

one finance bonus

New Banking App “One” Offers Up to 3% APY & More

“One” is a new bank targeting middle-class American families launched in March. It is the latest venture for former Intuit and PayPal CEO Bill Harris, and Brian Hamilton, the former CEO of digital bank Azlo and a former Capital One executive.

One aims to unify customers’ finances in one place. You can save, spend, borrow and share money through one account. One has partnered with Coastal Community Bank to issue the One Card and to provide banking services, such as the One account.

One says it focuses on the middle class, 30-50 year olds whose household income is in the $44,000 to $72,000 range, depending on geography. One of the most attractive features of One is an interest rate of 3.00% APY that you can earn on auto savings from your paycheck. You can also get up to $75 in bonuses when you sign up and $250 for inviting 5 friends.


One was just announced and signups are not available yet. You can be among the first to experience better banking when you sign up to get early access.


  • Earn $50 when you sign up for a new account. To earn the bonus you need to fund your One account with a single deposit of $20 or more.
  • Earn up to $250 when you invite friends to open and fund an account with One. You will receive $50 for each of the first five friends who sign up using your referral link and fund their One account with a single deposit of $20 or more.

I also see these two bonuses mentioned in the terms:

  • $5 reward for downloading the One iOS mobile application. To be eligible and able to download the One app, you will need to have an iOS mobile device and a One account.
  • $20 reward for a single transfer of $20 or more into your One account. To be eligible, you will need to have a One account and initiate the transfer in the One app.

High-Yield Account

Reach your goals faster with One.

  • Earn 3.00% APY on your Auto-Save pocket. Once enabled, One will automatically move 3% of your paycheck, up to $100, into your Auto-Save pocket, where those funds will earn 3.00% APY.
  • Earn 1.00% APY on all other Save pocket balances
  • Save toward goals together with shared savings pockets


Your One account includes credit to help you bridge those financial gaps that pop up from time to time.

  • Get instant approval and immediate access to funds
  • Increase your credit limit by setting up direct deposit
  • No interest on funds repaid within the month you borrow

One Card

With pockets and your One card, you decide how to organize and spend your money.

  • Create pockets that support your financial goals and your individual needs
  • Use your pockets to designate funds for specific purposes or simply for easier management
  • Assign your One card to Spend or Borrow pockets, whether individual or shared

Other Details

  • No overdraft fees, cash advance fees, or minimum balances, ever
  • Access your funds anywhere on the web and iOS
  • You can use your One card to get cash using any ATM network. While One does not charge ATM fees, some networks may charge you fees to use their ATMs. One will reimburse you for up to 3 ATM fees per month.
  • Your One account is FDIC insured for a combined total of up to $250,000 through Coastal Community Bank


Guru’s Wrap-up

One looks like a great product if you are looking for a streamlined banking experience. It will also help you save more with its Auto Save account that takes money out of paycheck and deposits it into a high yield account that earns 3.00% APY. Join the waitlist now to earn up to $75 in bonuses and another $250 when you invite 5 friends.

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