What is a direct deposit?
Direct deposit is an automated payment method where funds, such as paychecks, gig platform payments, retirement payments, or government benefits like unemployment payments or Social Security, are electronically transferred to your account. Spark Driver earnings, ONE@Work Instapays, and ONE@Work Save contributions are also considered direct deposits.
Payments or transfers through person-to-person providers such as Venmo, PayPal or Cash App are not considered a direct deposit. Cash deposits, mobile check deposits, wire transfers, One to One transfers, and ACH funding or debit card funding transfers initiated from the One app also do not qualify as direct deposits.
To set up direct deposit through your One Cash account, please follow these steps:
- Open
Cash Control in the One app
- Select Direct Deposit
- Tap on Find Your Employer
- Follow the on-screen instructions to select your employer, where you would like funds deposited, and how much of your paycheck you’d like deposited into One
You can also tap here to set up Direct Deposit in the One app.
It can take 1-2 pay cycles to receive your direct deposit into your One Cash account, depending on your employer. If you haven’t received your direct deposit within 2 business days after it was sent by your employer, contact your payroll provider directly.
How do I set up my direct deposit?
Some employers or payroll providers require that you set up your direct deposit through their online payroll system. Typically, this process will require:
- Account and routing numbers. These can be found in One Cash then Settings
in the upper right-hand corner in the One app or by tapping here
- Bank name: One Finance, Inc.
- Bank address: 5415 Evergreen Way, Everett, WA 98203 (Note: Please do not send any mail/checks/etc. to this address)
- Account type designation: Select Checking when setting up direct deposit to your Debit, for any other pocket select Savings.
If your payroll provider requires a completed direct deposit form from your bank or a voided check, use the attached form below.
Step 1: Fill out your name and account number. Enter the account number associated with the pocket you would like to receive your direct deposit.
Step 2: Select the amount of money you would like to be deposited into your One Cash account each paycheck by choosing one of the three options shown below.
Step 3: Fill out your name and account number (same as step 1).
Step 4: Fill out your employer's name then sign and date the form. If you have questions about information specific to your employer or a third party, please reach out to them directly.
Once you’ve completed and signed the form, share it with your payroll provider.
How do I get paid early?
One will post your direct deposit as soon as we receive it, up to two days early, based on when we receive the funds from your employer or the other sender. The timing of your deposit depends on when the sender initiates the payment to your One Cash account, which means that your direct deposit may not arrive early every paycheck. Direct deposits are posted Monday through Friday, excluding federal holidays.
One does not have insight into where your direct deposit may be in this process until we post it to your account.
What are the perks of setting up direct deposit?
If you receive $500 or more in eligible direct deposits per month, you will unlock the following benefits of One Cash+:
- Get paid up to 2 days early (available for all direct deposits)
- Get up to $200 in overdraft protection
- Instantly take out cash at Walmart for free with your in-app barcode
- No ATM fees at 55,000+ Allpoint ATMs
- 3.75% Annual Percentage Yield (APY) on total Savings balance, up to $250,000
- 3% cash back at Walmart, up to $50 annually on purchases made at Walmart and Walmart.com with your One debit card
Why is my direct deposit not correctly recognized?
If your direct deposit is not being correctly identified by One, please contact One Customer Service or type “Agent” in Chat to be connected to a One Specialist.