OnePay Accounts Review 2025: Debit and Savings

The debit portion of this neobank’s combination account functions like a checking account. It holds funds for your spending and is linked to your OnePay debit card. There are no monthly fees.

OnePay Cash+ program. Customers who receive $500 in qualifying direct deposits each month or have a balance of at least $5,000 at the end of the previous month gain access to the OnePay Cash+ program and receive the best features offered in this account. Benefits include:

• The ability to earn a 3.35% APY on money in the savings portion of your OnePay account.

• 3% cash back on Walmart and gas purchases (up to $54 cash back per year).

• Access to more than 55,000 fee-free Allpoint ATMs.

• The ability to make cardless withdrawals at Walmart locations for free.

• Overdraft protection.

• Mobile check deposit.

Available to all customers. The following features are available to all customers, including those not eligible for OnePay Cash+:

• The ability to earn a 3.35% APY for Pay AutoSave deposits (which are direct deposits).

• Ability to get paid up to two days early.

• Ability to participate in a round-up savings program.

• Free cash deposits and withdrawals at Walmart locations.

» Want other options? See our list of the best rewards checking accounts

The savings part of the combined account functions through what OnePay calls a “pocket.” It is also fee-free and there is no minimum balance required. The savings rate of 3.35% APY applies to OnePay Cash+ customers, those who sign up for ONE@Work (a OnePay-affiliated savings app available from select employers) and those with funds in a Pay Autosave pocket (see below for more info on Pay Autosave). The high rate applies to balances up to $250,000. All other savings pockets earn 1.00% APY.

Along with the primary savings pocket, you can create up to three custom savings pockets to help you reach your savings goals. These sub-pockets earn the same rate as the primary pocket.

Pay Autosave. Along with your primary pocket, you can create a Pay Autosave pocket, which automatically allocates a portion of any direct deposits you receive into its own savings goal feature. Funds in your Pay Autosave pocket earn OnePay's high rate: 3.35% APY.

It’s worth keeping in mind that there are high-interest savings accounts at other institutions that don’t make you jump through hoops to get similar rates.

Round-ups. Customers can also sign up for OnePay’s round-up program, where every debit transaction is rounded up to the nearest dollar, and the difference is transferred to your primary savings pocket.

What to know about neobanks: Nonbanks such as neobanks can be solid options for consumers who prefer managing money online and don’t mind having a nontraditional place to bank. But neobanks do have differences from banks that can pose risks, particularly in the way deposits are insured:

• A neobank such as OnePay is a third-party banking technology platform that partners with a bank (or banks) to provide accounts to customers. Funds deposited at a neobank are ultimately held at the partner banks. The funds are FDIC insured in the event of a partner bank’s failure and only if the neobank maintained accurate deposit records. (Learn more about how neobanks work.)

• If a neobank goes bankrupt, there is no FDIC insurance involved. It’s up to the neobank to ensure customers get their money back, which may involve delays and potential loss of account access. Banks, in contrast, receive prompt assistance from the FDIC if they fail. (Learn about what can happen if a neobank closes.)

• Neobank accounts often have low monthly fees and earn strong rates. However, they may lack traditional banking features, including in-person customer service, wire transfers and access to personal or cashier’s checks (often required for large purchases, such as buying a home). Consider these details before opening an account.

Customer support: OnePay is online-only, meaning it has no branches, so customers need to be comfortable with remote customer service. Phone support is available daily from 9 a.m. to 9 p.m. Eastern time. OnePay also offers chat support.

» Explore more. Read NerdWallet’s list of the best high-yield savings accounts

For overdrafts, OnePay offers customers free backup transfers from their savings pocket. The fintech also offers OnePay Cash+ customers a fee-free overdraft protection option that skips the savings pocket transfer and instead involves coverage of transactions that would otherwise be declined. OnePay does not charge overdraft fees, though it is not required to pay overdrafts, including those covered in the overdraft protection program.

For customers without overdraft protection or sufficient funds in a backup savings pocket, OnePay would deny transactions that would cause an overdraft.