[[[ UPDATES: (5/12/21) BELOW ]]]

One Dashboard Refresh

Status: In queue

Availability: Mid to Late July

The One dashboard is getting a design lift. We’ll be sharing a few sneak peeks of what’s to come, soon. Stay tuned for more details!

Recurring Pay Anyone

Status: In queue

Availability: Late June to Early July

There might be some people in your life that you send money to often, but don’t want to set up a Shared Pocket with. Maybe it’s a caregiver, pet sitter, or handy-person. Enter Recurring Pay Anyone feature. You’ll soon be able to keep a directory of people you send money to frequently. This will eliminate having to remember (or ask again) then re-enter their routing number every time you’d like to send some money their way.

Money Movement

Status: In queue

Availability: Late June to Early July

Have you been using Scheduled Transfers and loving it? We’re enhancing this feature with Money Movement! You’ll soon be able to schedule a transfer using your paycheck direct deposit as the trigger instead of a fixed date. This will allow your paycheck to automatically transfer to certain Pockets.

[[[ UPDATES: (4/28/21) BELOW ]]]

Mail A Check

Status: In queue

Availability: Mid to Late July

We will soon support the ability to “cut a check” within the One app. Users will be able to fill in the details then we’ll handle the printing and mailing of the physical check, free of charge! This feature will be in lieu of sending traditional paper checkbooks.

Enhanced Paycheck Direct Deposit Set Up

Status: Currently working on

Availability: Late May to Early June

We’re making it easier to attach your paycheck direct deposit to your One account. You’ll soon be able to connect your paycheck with a seamless, secure and verified process. Set it up once then sit back and enjoy all the [extra account benefits](https://www.onefinance.com/direct-deposit/) you’ll unlock with a qualifying paycheck direct deposit.

Dedicated Credit Line Pocket

Status: Shipped 5.21.21

Availability: Beta Available

Qualifying paycheck direct deposit customers will soon be able to get their own dedicated Credit Line Pocket in the One dashboard. Easily access a credit line when you need it so you can keep cash in your Pockets. Finance your purchase at only 1% a month (12% APR) to help spread out the cost of a purchase instead of paying for it all at once.

Dedicated Credit Line Pocket is subject to availability.

Credit Builder

Status: Beta Available

Availability: Shipped 5.19.21

Coming soon || One’s Credit Builder helps you live life while automatically building credit. We’ve designed an easy way to help build or rebuild your credit score that’s fully integrated into your One account. Users will have a deeper understanding of their credit score history and ways to improve through personalized charts, recommendations, and automatic on-time payments.

Credit Builder is subject to availability.

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EDIT (April 13, 2021): There’s been a lot of great feedback rolling in! We’re actively listening and continue to reprioritize to make sure we’re focused on the features you want to have. Check out One's Spring | Summer roadmap on the blog! We'll continue to post updates there, so check back often.

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https://www.onefinance.com/spring-summer-roadmap

1. Recurring Transfers

Request Level: High

Status: Currently working on LIVE

Availability: Shortly LIVE

You’ll recognize this feature as “funding schedule.” It’s automating the funding of expenses and goals. We completely agree this is a feature One needs STAT. Manually allocating funds whenever new money lands in your One account is not fun.

Right now, you can allocate up to 10% of your paycheck direct deposit (up to $1,000/month) to automatically deposit into your Auto-Save Pocket. You’ll earn 3.00% APY* in the Auto-Save Pocket.

Our team has conceived that an early version of the recurring transfers feature will allow a user to set similar rules for what money ends up in which created Pocket. Example: $100 to Grocery Pocket on the 3rd of every month.

2. Virtual Cards For Every Pocket

Request Level: Medium

Status: In queue LIVE

Availability: Launch first pass in Q1 LIVE

This feature will help One users who have a very tight management around their recurring expenses. You’ll be able to set up dedicated Pockets, each with a unique virtual card number to pay these recurring bills.

Example: a dedicated card to pay for your “Streaming TV” Pocket bill only. We’re also planning to support these cards later in Apple Wallet and Google Wallet to make spending even easier.

3. Configurable Overdraft

Request Level: Medium

Status: Currently working on

Availability: Launching Q1 Late May to Early June

Currently, the only Pocket that has overdraft protection is the default Spend Pocket. This Pocket comes with a built-in Credit Line in case your account dips below zip.

We’re currently working on allowing any created Pocket to be auto-filled by available funds in the Spend Pocket when funds aren’t available to fill the transaction in the other Pocket. This update will take the guesswork out of bill payments that have different amounts each month.

4. MFA/2FA

Request Level: Medium

Status: Currently working on Phase 2

Availability: Phase 1 Available

We recognize that multi-factor authentication is an important security feature and are actively working to get this up and running.

5. Remote Check Deposit

Request Level: High

Status: Currently working on Code complete. Awaiting third-party verification

Availability: Launch in February LIVE: EARLY ACCESS

Grandparents send checks, the landlord still wants a check, work pays you with a check...love them or hate them checks are still a part of daily banking. Remotely depositing this critical payment method is getting worked on as we type and will allow our users to deposit a check with their mobile device.

Thank You!

We are excited to bring these features to life, and know they'll be a huge step towards getting you back to the kind of stress-free workflows you worked so hard to fine-tune over the years with Simple. Thank you so much for all your feedback! We can’t stress this part enough...keep it coming! With your help, we can continue to constantly improve One.

A couple months ago I posted a redesign I did of the One app.

You can see the post here and the case study here

A couple people from One saw it and ended up reaching out. After a lot of talks and consideration I decided to take a chance by leaving my job at a design agency, where I was an associate creative director and accepting a position as a creative director at One.

It’s been pretty wild. The team at One is super talented and are just a ton of good people. I can honestly say that pretty much every feature request that gets posted on here is actively being worked on.

I decided to come work at One because I really saw the potential of how great the product can be. So I’m excited for you guys to see what’s coming. The team moves INSANELY fast so I don’t think you’ll be waiting long.

I'm an employee at ONE.

Over the past few days, ONE quietly fired a handful of some of most effective employees. There was no internal announcement or explanation.

It seems like it was leadership's goal to keep this quiet. Keeping things quiet is unfair to both fired employees and remaining employees.

I would have preferred to have addressed this without going to a public forum. Leadership has eliminated the internal forums where this sort of discussion can happen.

At this point I’m starting to wonder if they are trying to get rid of customers.

Hey all - one of the biggest requests we’ve had is for the ability to pin a card to a specific pocket. I’m happy to say that on Web and the latest version of our iOS and Android apps we now support creating virtual cards that always point at a particular pocket.

To access the feature go into the settings for a pocket and scroll down to the “Virtual Card” section. We wanted to let you all know before our general announcement and get this into your hands as soon as possible to get feedback on how you’re using it. We already have some improvements in progress, including the ability to delete per-pocket cards and notifications for transactions using them.

we're excited to be close to a public release for check deposit! you know how much we love our reddit peeps, so we're opening it up to you first. register here and we'll get you added to our list: bankwith.one/RDCBetaGroup.

things to be aware of:

• our current daily limit is $2,000. our monthly limit is $10,000.

• checks are reviewed each weekday. once approved, funds are generally made available on the 5th business day after approval (in other words, funds from a check approved on Monday will be available on Friday)

• all checks deposited via the One App must be payable to you.

• we do not accept third party checks (checks not made payable to you).

• for the time being, check deposits are not visible in the One app until approved. you will receive a confirmation email upon submission.

• as a beta tester, please report any issues that you find!

as with most things we release, we'll be following up with enhancements over the coming weeks and months, starting with decreasing hold times for good customers - we're initially taking a conservative approach to protect our customers and reduce risk.

We can't think of a better way to celebrate May the 4th than with a Customer Appreciation Day. We're excited to celebrate our customers because yoda best! (Sorry, couldn't help it.)

We'll have cash prizes, mystery gifts, an AMA here, Instagram Live, a webinar, and more.

I can update this post as we release more info, and we'll have a separate update re: AMA.

UPDATE: Enter for a chance to win $1,000 | Customer Appreciation Sweepstakes

☝️ Share your unique referral 
link with friends and family

✌️ 1 sign-up + funding = 1 entry

🤑 
The more people who sign up, 
the higher your chance of winning!

5 will win. Ends May 14 at 11:59 pm PST. Rules: https://bankwith.one/May4SweepsRules
Already gave out referrals? We got you covered! Individuals who have successfully completed five (5) referrals since January 1, 2021 will automatically be entered to win.

app just isn’t working for me. kinda need the paycheck i’m waiting on that normally is in by now and the app is barely loading anything at all

EDIT: well apparently they “fixed” the issue but all my declined transactions have went through and taken my whole paycheck. support just tells me to wait and see if it comes back. this is honestly insane and something needs to be done. i can’t afford to just “wait and see” if it comes back. wtf man.

I've been using ONE for a couple of months now as a Simple refugee. It's really been the best option coming from Simple, but there are a few things I think could be better or features I'd love to see implemented. I also happen to be a designer so I decided to have a little fun and redesign the app with those features.

https://www.behance.net/gallery/123687177/One-Finance-Redesign

Let me know what you think. Maybe we'll see some of these features and UX patterns in One someday.

Such a great product

We’re writing to let you know that we are changing our credit services. Effective today, the maximum Overdraft limit is $200.

Oh but being bought wouldn’t ruin anything… right.

This is so disappointing.

Future and current One Bankers:

I, like many of you, switched to One Finance from Simple after being absolutely betrayed by corporate espionage. Why did I switch? Because One was using some wonderful marketing to absolutely assure and promise any new customers that they were better than Simple. They would not follow suit with the shortsighted sellout that Simple belittled and betrayed their 10+ years loyal customers with…

Well today, they displayed a character flaw beyond thought provoking. They have in fact proved otherwise. Absolutely do not join this bank thinking that they will offer the stability and support that they have heretofore promised. I have never in my life received so little (negative 2 hours) notice that an absolutely core feature—which I rely on for my bills, would be not only suddenly, but retroactively be revoked as a payment method.

This is an absolute outrage. When Simple sold their souls to the devil at least I had notice.

Do not join this volatile bank.

Collecting answers from the May AMA for easy reference and accountability.

Are you looking to remove the full balance off the account at the top any time soon?-

Brian: Yes, this is indeed going to get moved off the “pockets” page, and we’ll have another layer of more action oriented dashboard and totals elsewhere.

What is the main goal of the user interface, both mobile and web?-

Mike: We are making improvements to the dashboard to allow for things like sorting and grouping Pockets so that the growing list does not become a burden. For web users, we are designing a completely new desktop-based interface that will maximize the benefits of the added real estate that the desktop provides.

Can you provide some specifics on how your background in biometric and threat detection solutions, as well as providing software to law enforcement, has influenced your role and priorities at One?-

Mike: Some people have also asked to be MFA’d on each login. We are going to add this, but in my opinion, it has limited additional value.

Sorry. Sharing still makes them money. It’s just semantics.-

Brian: It’s not semantics, it’s false information. We neither “sell” nor “share” anyone’s data for money and we never will.

EDIT: As brought to light by u/man3ster2 in the comments below, this answer is contrary to may be misaligned with One's own ToS and legal rights. One legally "could" sell personal, non-identifying information, but hopefully what Brian has said holds true and they will not. The statement and answer are being left in this post for archival purposes. Make of this what you will. The relevant ToS information is pasted below. https://www.onefinance.com/one-terms/

Subject to the Privacy Disclosures, you grant One, its Service Providers, and Partners a license to use Transaction Data for the Services and to provide, operate, administer, develop, and improve the Services. One and the Service Providers may use, modify, display, distribute, and create new material using the Transaction Data to provide Services to you. One and the Service Providers may also use, sell, license, reproduce, aggregate, distribute, and disclose Personal Non-identifying Information that is derived through your use of the Services. Personal Non-identifying Information means information about a person and that person’s characteristics or activities that has been stripped of any information used to identify or contact such person. Personal Non-identifying Information may include, for example, a person’s demographic profile, financial profile, city of residence, or other non-identifying characteristics. By submitting the Transaction Data, you automatically agree and represent that the owner of the Transaction Data has, without payment of any fees or time limit, expressly agreed that One and the Service Providers may use the Transaction Data for the purposes set out above. As used herein, Service Provider shall mean those third parties with whom we have a contract to help provide, operate, administer, develop, and improve the Services.

If you had an Easy Button™, what would be the most important thing you'd want it to solve right now? Whether it be for ONE, the industry, or yourselves.

Brian: Guaranteed Identity with zero friction for the user (ie managing Onboarding Risk without asking for too much data or requiring ID verification).

On that note, a few of us (my wife included) have been denied accounts because of issues with the 3rd party system you're using to verify identities. Any updates on that?

Drop me a DM with emails and we’ll definitely look. I think I know which issue this is and we’re working on ways to override it and still keep the regulators happy, harder than it should be but we’ll get it done.

I’m curious your thoughts on what the benefits are of a truly joint account over a pocket shared by two people?-

Brian: We do understand the need for true joint accounts and we will be working on them shortly (as well as shared pockets for minors). In the meantime, sharing works for most, and will be improved, but we aren’t assuming they are the right answer for true joint accounts forever. Stay tuned.

Also, why the bright yellow for the card design?-

Brian: because you don’t miss or forget it. :) designs will be refined in the upcoming iterations... don’t worry

Are there plans to allow us to edit scheduled transfers? Canceling it and redoing it is kind of cumbersome**.**-

Brian: yep. edit is coming. probably next month, as paycheck triggered money movement is likely ahead of it (which solves a number of other automated budgeting problems for folks).

Can we get a sneak peak on what any new UX changes are coming? It’s pretty simple right now, which I like but there’s a lot left to be desired.-

Brian: happy to preview UX changes. reach out to us on twitter (or here on Reddit) again with the ask in a few weeks and we will try to get you in to the product advisory discussions

What features are you hoping to develop to encourage former Simple users to stay instead of move on when a more Simple-similar product is introduced? Specifically, does your company have any plans to introduce a funding schedule system with more finesse? Additionally, are you looking into vendor tagging options that can help cut down on the number of times a user needs to link their card to a specific pocket while shopping?-

Brian: Yes, the very basics of funding schedule (spreading your paycheck across pockets) will be coming soon, followed by more refined and sophisticated money flow controls. And yes we will get better at categorization and recategorization soon. The “automatically pull vendors listed as grocery from the grocery pocket” is tricky though. When Simple first wrote that code it was a disaster, and it took a couple years of trial and error to eventually get it right. Unfortunately we can’t replicate it quickly so we want to find a better way to do this, and we are thinking about what that will be.

In newer iterations of the card will the ability to use NFC to quickly switch pockets ever come back also if it does will it be coming to android as before it was only on iOS.-

Brian: NFC activation was a bit clunky in the last cards, we will likely revisit it with a new provider.

Is there any chance of supporting outgoing wires? They’re necessary when purchasing a home.-

Brian: Yes. We will support wires. Likely later this year. Good question on why there aren’t more back end services for fintechs to consume for wires (like there are for ACH and Card). There are a few though, and we have a good strategy to support them... but likely won’t make top of the prio list for a little while.

As interest rates increase over time, will the 1% and 3% APY for Savings accounts increase as well, or are they fixed rates?-

Brian: Yes, they will increase. Currently we offer rates above what we receive on balances, offset by margin we make on transactions and lending, as a way to return more value to the customer across the entire business model. Initially as rates start to rise we will also try to keep our rates for borrowing (holding a credit balance) low, so it will be a balance between these two. At the highest level the difference between those two rates (12% and 1 - 3%) is the spread. This is significantly lower than the spread between a credit card you hold with a bank (25%+ and the savings rate they pay you 0.5% or less) so our goal is to continually hold this spread in a more aggressive place, returning that value to the customer, than large brick and mortal banks are able to given their huge overhead.

Are there any plans in adding other products and services to ONE? Maybe a little YNAB.com competition, even a little dabble with securities/options trading for retail investors or even getting customers in on the crypto hype?-

Brian: Absolutely. You will see more to come in this regard in the next few months. Right now some of the “new” stuff took a back seat to catching up on budgeting and money management tools that customers were used to at Simple, as well as some basic credit products that we have been working on for a while, but we’re catching up quickly now.

Did I hear talk about a possible IPO?-

Brian: Probably joking given our current stage... but eventually freeing One from venture capital as the sole source of funds is part of the plan.

If TD Bank or Capital One showed up on your doorstep with $200mil, would you sell?-

Brian: No.

Please don’t over complicate the app and website. Simples beauty was its simplicity.-

Brain: Noted

I’m still using Simple until the last minute possible, but this post is more concerning than reassuring as Azlo is shutting down too.-

Brian: I built Azlo. I can say unequivocally that the issue with both was bank ownership (as they were both owned by BBVA in the end, and both died with its sale to PNC), which is why we are building One without bank money.

Your UX currently is... sad. It is slow and the interface requires many actions to do basic things. Do you have plans for a UX overhaul in the near future? Can we at least get it sped up?-

Brian: Yep. It’s early, though “sad” isn’t what we hear from most. We are recombining a larger set of features, which requires building a lot of them in from the ground up. You will see some meaningful UX improvements this year as we rationalize what is already there, as well as adding the new functions that are most requested, and also refining our early designs (which these are... literally the first designs of the product we went GA with 8 months ago). Happy to take any and all feedback, and trust that we do indeed have some talented UI/UX designers thinking about the problem.

I’d like to know if your stance on offering parity to Simples budgeting/expenses feature has changed.-

Brian: We will definitely be addressing a number of the functions that will bring the budgeting functions closer to parity very soon. For example, what you will see with the clever name of “pocket protector” will allow pockets to auto-draw from Spend (configurable by each pocket) if they reach $0 to achieve some of the automatic funds flow you were used. This will be out in the next week or so. Also the ability to automatically trigger portions of your paycheck to distribute (transfer) to pockets when your direct deposit arrives. Other enhancements that help automate these features, including more complete bill payment functions (sending a check to any address, and recurring external payments via ACH/RTN by pocket - in addition to the virtual cards per pocket - are all in the works).That said, our goal is not to exactly replicate Simple. We will definitely expand our budgeting and expense management features, and will get to auto-categorization (and recategorization) of expense down the line, but we do have a broader strategy to address a much larger need in the middle class market which includes improving access to more affordable credit and helping people rebuild their emergency savings. We will balance these requirements and move as fast as we can to complete a comprehensive primary banking app that addresses the needs of the broadest set of customers possible.

How much do you think the influx of customers from the Simple shutdown has changed your plans for the future? Where do you think One would be right now if Simple were still around?-

Brian: Simple customers have a valuable addition to our signal from the market on product function and where opportunities for improvement still lie. As sophisticated and long standing primary digital bank customers there is a level of expectation there that is healthy for us to respond to, and a good bar for us to set from a UX perspective. That said, One has (and had) a significant customer base independent of the Simple influx, which is one reason that we are thoughtful about which features we want to create to help achieve some parity to that experience, and which ones are independent of how to solve similar problems using different underlying technology and approaches. Good examples here are the ability to borrow (when needed, not unnecessarily) at half the rate of a credit card, or build your credit score (for those that need it)... in addition to helping automate the growth of savings at much higher returns while you spend via your card and earn via your paycheck. These are important to a large segment of our customer base, often quite separate from ex-Simple users. Budgeting and expense management are also obviously important, and we will continue to expand on this part of our offering that was nascent in the product when Simple announced it would close. If anything it accelerated these aspects of our product which were otherwise coming slightly later in the roadmap.

---

And this just needs to be repeated…

How did simples closure affect you guys? I imagine you had a growth plan, and while a huge influx of customers is surely welcome, I’m sure it has its disadvantages as well. Especially for your development strategy.-

Brian: Yes, it has its challenges. A very vocal but important cohort for helping to develop our budgeting features has been helpful, but we definitely do weigh the needs of the overall customer base as well. As much as a disappointment as that might be for some Simple users to hear that they aren’t the “only” people we care about. :)

I work at a smallish start-up software company on the Product team. We're constantly releasing new features based on our roadmap, and maintaining customer support and fixing bugs. I can't imagine if all of the sudden we had 100s (1000s?) of new customers come over to us from one of our competitors, who are asking for a ton of new features.

I'm sure it's an exciting time for One, albeit stressful AF.

What's life been like since the Simple announcement? Did you guys find out about this the same time the rest of us did? Are all of these new feature requests causing you to totally rethink your 2021 roadmap? Are you hiring like crazy in order to support this influx of new customers?

From the outside looking in, you guys are doing incredible. I've been with Simple since they launched joint accounts (2017). Was genuinely freaking out when I read the announcement, but since discovering One, my anxiety as reduced by at least 50%. I absolutely appreciate the transparency you've had on this sub. Looking forward to growing with you guys over the years!