Pockets Overview | Getting Started

Getting started with Pockets

When you first log into your ONE account, you’ll notice there are 3 Pockets already created to help you on your financial journey. Every ONE account has a Spend Pocket, Save Pocket, and Auto-Save Pocket to get you going. Let’s give a brief overview of what they do and why you’ll love them.

Spend Pocket

This Pocket kick starts your spending from your ONE account. After you add funds to your account and activate your ONE Mastercard, you can start making purchases that get pulled from the Spend Pocket funds. 

Pro Tip → You can change what Pocket your ONE card spends from at any time (and as often as you’d like) in the ONE app!

Save Pocket

This Pocket was made to help you build up your savings at an industry-leading rate: 1.00% APY.* APY (annual percentage yield) is the percentage rate that reflects the total amount of interest paid on your account balance. You’ll be able to save up to $5,000 at 1.00% annual percentage yield (APY)* in this Pocket! Start saving up for long-term goals or get in the habit of putting extra income aside for a rainy day, aka an unplanned expense. 

Pro Tip → You can increase your savings potential to $25,000 in the Save Pocket by adding a qualifying paycheck direct deposit.

Auto-Save Pocket

This special Pocket helps you to save automatically. There are 2 ways to put your savings on auto-pilot in the Auto-Save Pocket. 

Card Auto-Save

Earn 3.00% annual percentage yield (APY)* on card rounds. We’ll automatically round up every ONE card purchase to the next dollar, and we’ll transfer the difference from your Spend Pocket to the Auto-Save Pocket automatically.

Paycheck Auto-Save

Earn 3.00% annual percentage yield (APY)* by saving up to 10% of each qualifying paycheck direct deposit (up to $1,000/month).

Pro Tip → There are no contribution limits using card Auto-Save in the Auto-Save Pocket!

You’ll want to turn on both of these features to enjoy the reassuring feeling of knowing that you’re auto-building a savings nest egg in the background while living your life. 

Turn on both ways to automatically save in your Auto-Save Pocket by tapping on the 3 stacked dots in the upper right-hand corner, then toggle both card Auto-Save and paycheck Auto-Save “on.” Then adjust the percentage (1-10%) you’d like to save with every paycheck direct deposit. Don’t forget! You’ll need to set up a paycheck direct deposit, too.   

Organize Your Money With Pockets

Ready to dive deeper into Pocket creation and how to share Pockets with your people? First things first, ONE customers can create up to 99 free Pockets. Go wild and get hyper-organized! Secondly, every Pocket has an individual account and routing number, so you can share individual Pockets with other people while keeping additional Pockets private.

Pro Tip → All Pockets can be shared with other ONE customers except the Auto-Save Pocket.

How do I add a Pocket?

1. Sign in to your to your account.
2. From the Pockets tab, select the + icon
3. Name your Pocket or choose a popular Pocket from the list below.
4. Tap Create Pocket
5. Tap Add money to fund this new Pocket.
6. Tap Share Pocket if you’d like to invite one or more people to join your Pocket.
   Everyone who joins the Shared Pocket will be able to manage the funds inside.

  Pro Tip → A Pocket’s name has a 21 character limit, but ONE supports emojis!

Sharing Pockets With Your People

Now that you’re a Pocket creating pro let’s start sharing Pockets with people to help organize your life and goals. Shared Pockets are a great tool to pool money with people in your life. Anyone who joins the Shared Pocket will be able to manage the funds in the Pocket. Create and share Pockets to budget, spend or save together!  

How do I share a Pocket I’ve created?

1. Open ONE app and sign in to your account.
2. Tap the Pocket you’d like to share.
3. Tap the 3 stacked dots in the upper right corner.
4. Tap “+” yellow circle button near “Sharing.”
5. Tap “Share Pocket.”
6. Options on how to share will automatically pop-up. Choose who and how you’d like to share this Pocket.
7. Share the Pocket with one person or a large group!
   
   Pro Tip → Invite your people to ONE and you’ll both earn a $50 bonus!**

How do I leave a Shared Pocket?

1. Open ONE app and sign in to your account.
2. Tap the Pocket you’d like to leave.
3. Tap the 3 stacked dots in the upper right corner.
4. Tap “Delete.”
5. Tap “Confirm.”

Does ONE offer joint accounts?

ONE offers something even better than joint accounts…we have Shared Pockets! Shared Pockets provide better flexibility and organization. You’ll be able to customize what finances are shared and what finances stay separate. Shared Pockets also eliminates the need for constant “pay me” requests!  

Are Pockets new checking accounts?

Nope! Technically they aren’t new or separate accounts. You’ll only have one checking account with ONE. Think of the Pockets as sub-accounts of your main ONE account and each Pocket has a unique account number so you can transfer money in and out of specific sub-accounts. 

What is a sub-account?

They’re separate accounts (Pockets) listed under your existing ONE account. Sub-accounts aka Pockets are free to create. They offer an easier way to manage your money because you can: 

• Create a new Pocket without any new paperwork or hoops to jump through. 
• Share an individual Pocket with a friend, partner, or family member rather than the whole account.
• Move money instantly between Pockets to organize and budget.
• Have a better overview of your finances with the ability to separate spending, saving, and sharing rather than a lump sum sitting in one account.

*Annual Percentage Yield effective as of 9/1/2020 and subject to change. 3.00% APY available on all Auto-Save balances. Maximum contributions of up to $1,000 per month in paycheck Auto-Save and no maximum contribution for card Auto-Save. 1.00% APY available on Save balances up to $5,000, up to $25,000 with a qualifying paycheck direct deposit.

**Receive up to $500 when you invite up to 10 people to join ONE. You will receive a $50 bonus for each person who signs up with ONE using your unique referral link and adds a qualifying paycheck direct deposit of $250 or more in a single transaction. Referred users must add their recurring paycheck direct deposit to their ONE account starting 12:01am PST on 12/28/20. The bonus will be deposited to the user’s Spend Pocket soon after the referred user completes a direct deposit. If a paycheck direct deposit is not recognized, please submit this form so that the correct team may assist you. Excludes money transfers and peer-to-peer payments. Learn more about what qualifies as a paycheck direct deposit here.