Published on October 13th, 2022 | by Bibhuranjan

Is ONE The Secret To Financial Wellness For Banking Customers?

Financial wellness is something everyone wants to achieve. While financial wellness means something different to each person, acquiring and sustaining wealth isn’t easy. If your annual income covers essentials but is handcuffed by outstanding debts and desires, it can limit your ability to implement healthy money management practices like budgeting, saving, and investing.

If you find it difficult to achieve financial wellness, utilizing banking resources like ONE can make all the difference. Here’s how:

What Is ONE?

ONE is a fintech agency that offers digital banking services for people of all income brackets. Its secure and user-friendly website and mobile app gives customers around-the-clock access to their finances. Established in 2019, ONE has helped its customers to regain control of their money and develop habits that assist them in achieving financial wellness.

Financial Benefits Of Banking With ONE

Digital banking solutions are prevalent as modern civilization evolves; however, not all institutions and service providers are created equally. Selecting a bank that offers you the best financial advantage is essential. Here are a few ways that ONE stands out:

It’s Absolutely Free – If you are charged for every transaction, it can eat away at your bank balance. On the surface, those fees may not appear costly. However, it is easy to accumulate several hundred dollars in bank charges a year. ONE wants you to keep the money you’ve worked so hard for and does so by eliminating traditional fees such as minimum balances and ATM fees as well as overdrafts and wire transfers.
High-Yield Interest Rates – Saving is an essential financial management practice that enables you to buy things you want, plan for your future, and prepare for unexpected expenses. One of the simplest ways to save is to place your money in an interest-bearing account. Unfortunately, most banks don’t give you much return on your investment. ONE offers its customers higher interest rates ranging from 1.00% APY to 3.00% APY, allowing your money to grow faster.
Better Budgeting – Budgets help you organize and manage your finances. However, creating and sticking to a budget is a challenge many face. ONE is changing the banking industry by providing consumers with comprehensive tools to develop better budgeting habits. These resources, called Pockets, enable customers to ensure their financial accounts mimic their household budgets.

How To Maximize ONE’s Products And Services

Here is a look at how you can use ONE’s products and services to achieve financial wellness:

Download The Mobile App – Once you’ve signed up for a ONE account, download the mobile app. The mobile application allows you to access your finances from anywhere. You can also complete banking transactions and receive notifications in real time.
Create Pockets – Pockets are sub-accounts in which you can transfer funds and complete transactions using your mobile device or ONE debit card. It saves you the headache of managing multiple accounts across various platforms. There are three main categories of Pockets including, Save, Spend, and Auto-Save. You can create and customize up to 99 Pockets to correlate with your monthly expenses.
Schedule Transfers – Schedule automatic transfers from your Spend account into the appropriate Pockets to ensure you have enough money to cover your expenses. When completing transactions, use the funds from the customized Pocket.
Turn On Auto-Save – The Save Pocket accrues 1.00% APY; however, if you want to increase your savings, turn on the Auto-Save feature for 3.00% APY. Every time you use your ONE debit card, the transaction amount is rounded to the nearest dollar, and the change gets deposited into your Auto-Save Pocket.

Financial Wellness Is On The Horizon

When you opt to bank with ONE, you have a variety of financial services and resources available to help you accomplish your financial goals. Consumers keep more money in their pockets by avoiding traditional banking fees, receiving a higher investment return, and developing budgeting and savings habits that can ultimately improve their finances.

If financial wellbeing is on your mind or you wish to develop better habits to accomplish your goals, opening an account with ONE can provide the foundation you need to succeed.

Cover Image by Freepik

Tags: banking, finance, FinTech, money

About the Author

Bibhuranjan Editorial Officer, technofaq.org I'm an avid tech enthusiast at heart. I like to mug up on new and exciting developments on science and tech and have a deep love for PC gaming. Other hobbies include writing blog posts, music and DIY projects.