What are the differences between Debit, Savings, and goals?
When you open a One Cash account, you will automatically have a Debit and a Savings section to hold your funds. The Debit section of your account is connected to your One debit card and is designed to hold funds that you will be spending soon. Money in your Debit section does not accrue interest.
The Savings section of your One Cash account is a place to keep funds you want to save and do not plan to spend in the near term. Money in your Savings section will earn interest.
In your Savings section, you will have a Primary Savings with your first name on it, and if enrolled, a Pay Autosave or One@Work Save. You can also create up to three goals to help track your savings progress.
Money in your Savings section may earn up to 4.35% Annual Percentage Yield (APY).
To qualify for 4.35% APY on total Savings balances up to $250,000 you must meet at least one of the following criteria:
- Receive at least $500 in eligible direct deposits each month
- Maintain a daily account balance of $5,000 or more
If you do not meet either of the criteria above, you can still earn 4.35% APY on the balance in your Pay Autosave pocket (on balances up to $250,000) if you set up Pay Autosave.
In all instances, 4.35% APY is limited to an aggregate Savings balance of up to $250,000. Any Savings balances that do not qualify for 4.35% APY will earn 1.00% APY. APYs are as of 10/10/24 but may change at any time before or after account opening. Fees may reduce earnings on this account.
How do I create a goal?
To create a goal:
- Open the One app and tap One Cash
- Tap Savings and then select Set a goal
If you already have 3 goals set up, you won’t see an option to set a goal unless you delete one of your existing goals.
How many goals can I have?
You can set up to three (3) goals on your custom savings pockets.