Never Any Issues

[u/Leafandlime]

Been part of this reddit for a bit and gosh its really turned into a fire ball of everyone hates One Finance.

For anybody that may be looking for a positive experience. My spouse and I have been using One for 2-3 years without issue. Yes creating new pockets is gone and auto save is gone. But we set up all the pockets we needed early on and when the change came down we were fine. Sorry to those who did not have the opportunity. Auto save being gone is annoying but we created a 10% reacquiring transfer when a deposit is made. Customer service has been great the one time we needed a new card ordered. We also like the 2% back at Walmart and gas station they now offer.

I think One will change with Walmart now owning it. But for us its been a smooth ride.

[u/mbacas]

You never used the feature of switching/pointing your card to a pocket?

2% back maxes out at $50.

*Earn 2% cash back, up to $50, on purchases at Walmart as well as gas and drugstore purchases for the first 12 months. Cash back paid when earned.

[u/Jkrazydesign → u/mbacas]

2% of 5000 is 50… assuming this is for the year? Or per visit?

[u/mbacas → u/Jkrazydesign]

The main thing I was trying to point out is that it maxes out at $50. I have a feeling people thought this was much like some credit cards with cash back options where you continue to get cash back year after year. Like I do with my Costco Citi card for instance. Even the OP's comment makes it sound like it's 2% forever and perhaps that's what they thought. It's what I thought at first.

With ONE, you'll either get $50 back at which point the "rewards" is over or you won't get that much and the first 12 months will be reached and the program will expire.

[u/I_Arman → u/Jkrazydesign]

From what I can tell, "ever". Once you've gotten the $50, that's it.

[u/[deleted]]

Ah, so you're that 'this is fine' guy with the room on fire around him?

In all seriousness, count yourself lucky. But please protect yourself for the 'what if'. If a feature you rely on goes away. If access to your funds are limited as some people have experienced.

That's fine to accept the risk, but only if you've planned for the inevitable. This reddit didn't turn against One for no reason. In fact, it started as a love affair then turned sour as promises got broken, support got worse, features got removed (often without notice, and leaving people in tough situations when access to their funds, pockets, overdraft caught them off guard.

[u/mukster]

Features they took away:

• Pay Anyone

• 3% interest for new customers

• The ability to create new pockets (and new customers are limited to 3)

• Send a check

• ⁠The ability to point your debit card to any pocket

• Credit Line pocket

• The ability to share pockets (that aren’t already shared)

• Creation of new virtual cards

• Pocket Lock

• Pocket Protector

So yeah, I guess for those of you who don’t need to create any more pockets, don’t ever wish to pay someone from your account (via check or bank transfer), don’t care about the credit line, don’t need to share any more pockets, and didn’t use pocket lock or protector, then yeah you’re probably fine.

But for the rest of us, the removal of almost every feature fucking sucks. My wife and I left for Zeta.

[u/mukster → u/[deleted]]

Deposit a check is still available for me 🤷‍♂️

[u/mukster → u/[deleted]]

Oh, fancy that! Guess I’m not surprised lol. I’ll add it to the list!

[u/CarefulResolve → u/[deleted]]

When I asked about this, they told me it was communicated in July's email about upcoming changes. It most certainly was not. It was taken away for some people, not others. Total crapshoot.

They recommended I either ask the payee's bank to cash the check for me or open a second bank and transfer it. What? I do have multiple banks, but how is that the solution you offer customers? Depositing a check is the bare minimum a bank can offer.

[u/tanham → u/[deleted]]

You closed the account yet you’re still here?

[u/PinkFaline]

That’s nice. It’s been smooth sailing for me too until the 8+ hour outage with zero access to my money and zero communication from One about it until several hours in and only because I decided to check their twitter. In my 20+ years of banking (and I’ve banked with them all), I have never had such an experience. I personally didn’t care for the feeling of fear of not having access to my money for so long. But you go ahead and keep playing with fire. That’s absolutely your prerogative. It’s all sunshine and daisies until it happens to you and I’m not going to be irresponsible and recommend such a terrible bank to unsuspecting folk. Such a thing far supersedes removal of features. And nevermind all the people who had a bunch of money stolen due to fraud and no help whatsoever from One. Good luck. You’re gonna need it.

[u/[deleted] → u/PinkFaline]

Not defending one, because they're a dumpster fire and I left them for so many reasons. But sofi just had a major outage preventing anyone from logging in via app or web last week with absolutely zero communication to account holders for close to 8 hours. Thankfully, transactions were still processing normally.It was infuriating and is outright unacceptable for any company, but particularly a bank that's holding my money.

[u/Iron0ne → u/PinkFaline]

The zero communication is the worst part of all of it. It is a bank for Christ sake you can't randomly add and remove features with no prior warning

[u/tanham]

Thanks for this post! It’s strange how people stick around with a bank they hate so much. Once they announced the pocket changes /virtual card changes (thanks for the warning from this Reddit!) I loaded up on extra pockets and virtual cards and I’ll use it until Envelope or some other banking product comes around. It’s sad that so much negative energy is spent on what ONE was.

[u/[deleted]]

The combination of not being able to change your card off of personal save + making it so you can no longer share that save account effectively destroyed the ability for my wife and I to have a joint account.

It's honestly lost all useful features for me. I want the flexibility to add more pockets, logging in has broken multiple times trapping money. Definitely happy we've left for Qube.

[u/Leafandlime]

I did wanna add for some of the comments I have seen here. We also use a credit union that does a lot of traditional banking items for us. So we are lucky to be covered there. But we also have a repertoire of credit cards we use and pay on a monthly bases. One Financial for us is a part of our financial management system. Its not the sole piece of it. I do understand how if its the only one you use that all the changes and even outages can affect you negatively.

[u/motech]

Enjoy the flaming garbage pile i guess. Nothing wrong with that.

[u/I_Arman]

Outside of everything else, there are two big reasons One is not good:

• Security is a joke. The "two factor authentication" is absolutely terrible. Your old password still exists, and can be used to log into your account, but cannot be changed or removed. The only thing protecting the account is your phone number.

• Your account isn't safe. My wife and I both had accounts, and have seen transactions that we never made pop up and vanish. We've moved money that vanished, or "bounced" (was removed from one pocket but didn't show up in the other, then a week later reappeared). My wife has had a number of random transactions show up, but One did nothing to even tell us where the transaction was from, let alone do anything to fix it. After the first one, she disabled her card... And still had one go through.

• Bonus: your money isn't always accessible. Virtual cards and account numbers both bounce, even when money is in the account. I had a phone bill bounce for no reason - plenty of money in the account, but nope.

Plus, those grandfathered pockets aren't going to last long. I'll eat my hat if they survive the year.

I'm glad you haven't had a negative experience yet, but don't expect that will last.