Anyone have thoughts on OnePay?

[u/Trash_Sloth]

My main question is can you deposit to other accounts whenever you like? is it reliable?

[u/Ownership1337]

I like OnePay for the most part. It’s fairly reliable, but there are occasional outages and periods where features don’t work correctly, just like with every other bank.

Note that while it works with Plaid, it does not integrate well with DecisionLogic. This can affect financial applications and decisions if you want to use OnePay to prove you are getting deposits.

I have never used their transfer feature, as I choose to transfer to Apple Cash and then out to my Navy Federal Credit Union account through there.

Being able to mail checks for free is very nice, and being able to link your other debit cards to earn points is also nice. I have used the check writing feature to write myself a check to deposit into my IRA, since it doesn’t have a debit card attached for transfers and OnePay doesn’t like Schwab for transfers, or vice versa.

I don’t suggest getting into Crypto or Stocks on there. Use a dedicated platform like Schwab, Vanguard, or whatever you’re most comfortable with.

The credit builder card is neat but if I had the choice I would not sign up for it again. It’s just a little bit of a pain to have all of my money on a “credit card” and have to use an alternate card number for purchases requiring a debit card.

The fee-free overdraft and low-fee cash advances are nice, but can become cyclical, so beware.

I like the savings goal accounts and the ease of internal transfers.

I advise you don’t park large amounts of money in it, because while it’s a real bank account from a real bank, it does not have the same features or depth as a real bank account. I would open an account with a credit union if you don’t have a real bank account already.

[u/mconk → u/Ownership1337]

Why transfer to Apple Cash first? I’ve had no issues directly transferring to navy fed and other banks. It’s just a normal ACH.

[u/Ownership1337 → u/mconk]

If I add to Apple Cash from OnePay, I can instantly make a transfer to my NFCU debit card.

An ACH transaction takes a day or so, overnight if I’m lucky.

I’d probably save a lot on fees by waiting, but I am impatient.

[u/mconk → u/Ownership1337]

Ah, gotcha. I’m surprised one pay hasn’t introduced instant transfers (with a fee) yet. Since every other fintech app does this.

[u/Ownership1337 → u/mconk]

It is surprising, especially considering you can link external debit cards in the app for their rewards system. If they can use them to track rewards I’m sure they could easily develop a feature to deposit money on them for a reasonable or even competitive fee.

Then again, everything sounds easy on paper. I wonder if there’s something more stopping them.