When the economy is unstable, it can be hard to live the way you want. If the price of basic needs like groceries, gas, housing, and utilities is high, it can be difficult to afford the essentials (let alone entertainment and luxuries). While you can’t always control the state of the economy, you can control your finances. Believe it or not, something as simple as selecting a bank can put you on the path to having your cake and eating it too.
Financial Management Made Easy With ONE
Money isn’t everything, but it is a necessity to sustain a living. Since money doesn’t come easily, it’s essential to learn how to manage what you have to acquire what you need and want. Financial management practices like budgeting and saving are crucial to ensuring you have enough money to live comfortably both now and in the future. Unfortunately, developing and applying these strategies to your finances is challenging.
Luckily, ONE provides its customers with comprehensive banking solutions to make financial management easier.
What Is ONE?
ONE is a bank that offers digital banking products and services to US consumers. Established in 2019, ONE set out on a mission to make financial wellness possible for everyday people. With solutions ranging from high-yield savings and no-fee banking to mobile management and customizable sub-accounts, customers can develop healthy financial habits to improve their circumstances.
Save More With ONE
Most banks implement policies and procedures that ultimately cost consumers more of their hard-earned cash. They impose initial and minimum deposit requirements, monthly maintenance fees, transaction fees, and other charges that can eat away at a budget. What’s worse is that many of these banks offer low-interest rates that make it impossible for customers to see a significant return on their investment.
ONE realizes how hard customers work to earn their money. They also understand the current economy and the need for excess cash to sustain rising costs of living. Ultimately, ONE wants you to keep more money in your pocket by offering products and services that include:
- Zero-Fees – Tired of being charged for using an out-of-network ATM? Perhaps you need that last $25 in your account but don’t want to get hit with minimum balance fees? If you open an account with ONE, you can take advantage of zero-fee banking. You won’t get charged to use an ATM, withdraw your last few bucks, or for any other typical banking transaction. This can save you several hundred dollars a year.
- Overdraft Protection – Everyone has had an instance where they needed to make a transaction or scheduled a payment that exceeded their account balance. With traditional banks, you get charged $25 or more for insufficient funds. ONE offers overdraft protection of up to $200 to prevent you from being charged when you run into a jam.
- High-Yield Savings – Let’s say you deposit $5,000 into an interest-bearing account at 0.01% APY. And deposit $100 a month over the next year. You would earn $0.55. If you deposit that same amount into ONE’s high-yield savings at 1.00% APY, you’d have an extra $55.49! Banking with ONE allows you to reach your savings goals faster.
- Auto-Save Pocket – A Pocket is a sub-account connected to a ONE debit card. The Auto-Save Pocket is a feature that enables customers to receive 3.00% APY interest on everyday purchases. Every time you use your ONE card, the transaction is rounded to the nearest dollar, and the change is applied to your Auto-Save Pocket.
Pockets: A Digital Envelope System
Before there were spreadsheets and budgeting apps, the envelope system was regarded as one of the most effective ways to manage money. By labeling an envelope to correspond with monthly bills and expenses, you could track spending, pay bills on time, and eliminate poor shopping habits.
ONE’s Pockets work the same way. However, instead of using envelopes and cash, you create customizable sub-accounts and schedule online transfers. With Pockets, you can stick to budgets easier, keep up with bills, and even have some cash leftover to save or splurge.
Saving and budgeting are essential parts of a comfortable life. As the economy fluctuates, it’s important to have stability. Luckily, there are banks like ONE to help you achieve this and more.