DEPOSIT ACCOUNT AGREEMENT
Effective as of March 25, 2024
THIS AGREEMENT INCLUDES A JURY TRIAL WAIVER AND A BINDING ARBITRATION PROVISION THAT CONTAINS A CLASS ACTION WAIVER. PLEASE REFER TO SECTIONS 21 AND 22 BELOW FOR MORE INFORMATION. |
TABLE OF CONTENTS
2. CUSTOMER INFORMATION AND REQUIREMENTS
4. TRANSACTION TYPES AND LIMITATIONS
7. DEPOSITS AND FUNDS AVAILABILITY POLICY
9. ACCOUNT OWNERSHIP; POCKET SHARING; OTHER RESTRICTIONS
10. POWER OF ATTORNEY & INCOMPETENCE OR DEATH
11. ACCOUNT AND TRANSACTION DOCUMENTATION
12. ELECTRONIC FUND TRANSFER AGREEMENT AND DISCLOSURE
13. SPECIAL PROVISIONS FOR ONE DEBIT CARD TRANSACTIONS (MASTERCARD® ZERO LIABILITY PROTECTION)
15. DISCLOSURE OF ACCOUNT INFORMATION TO THIRD PARTIES
17. ACCOUNT CLOSURE; INACTIVE ACCOUNTS
18. ELECTRONIC, TELEPHONE, AND TEXT COMMUNICATIONS AND CONSENT
20. INDEMNIFICATION AND LIMITATION OF LIABILITY
22. ARBITRATION PROVISION AND CLASS ACTION WAIVER
This Deposit Account Agreement (“Agreement”) is the contract between you, the depositor (“you” or “your”) and Coastal Community Bank, member FDIC (the “Bank”) and governs your ONE account and the use of the ONE Debit Card. The account is offered and serviced by ONE Finance, Inc. (“ONE”) on behalf of the Bank (ONE, collectively with the Bank, “we,” “us,” “our”). In this Agreement, “Account” refers to your ONE demand deposit account, including deposit “Sections” and “Pockets”, which are governed by this Agreement (that is, your “Debit” and “Savings” Sections, including your Primary Savings Pocket and any other Pockets you or we create). By applying for an Account, purchasing a ONE Retail Card (“ONE Retail Card”), opening an Account, or using the ONE debit card Mastercard® issued by the Bank (“ONE Debit Card”), you agree to this Agreement.
Other products and services offered by us, such as through the ONE mobile application or website (collectively “ONE App”), may have additional agreements or terms you may be required to accept. Please read the entire Agreement carefully and retain a copy in electronic and/or paper form for your records. You can also access the most recent version of this Agreement in the ONE App.
This Agreement also refers to and includes the:
Current versions of these documents and this Agreement are available at http://www.one.app.
You may reach us at the contact information below:
Phone (toll-free): 855-830-6200 | Mail: ONE Finance, Inc. |
Our business days are Monday through Friday, excluding holidays observed by the Federal Reserve System[1] (“Business Day”).
You may only open an account for yourself, and you cannot open an Account on behalf of another person. By submitting an application for an Account, you confirm the information you provide is correct and accurate.
It is your responsibility, and you agree, to promptly update any changes in the identifying information you provided to us in and after your application, including your physical address, email address or phone number. You can update your information in the ONE App or by contacting us.
To open an Account, you must be 18 years or older. However, we may offer Accounts to applicants who are 16 years or older as part of programs offered through partnerships. If you are under 18, your Account may have limited access to certain features, such as the Fee-Free Overdraft feature.
You acknowledge that we have no fiduciary or trustee obligations to you in connection with your Account and that we have not advised you on any community property, tax, or estate planning matters. You should consult a tax and/or estate planning advisor about your specific circumstances. For tax withholding information, see Section 23.
Your Account automatically includes two deposit “Sections”: “Debit” and “Savings”:
You may transfer funds among your Sections and Pockets. Sections and Pockets are not additional Accounts and may be created, removed or restricted without revising this Agreement or without providing notice. Accordingly, transactions between Sections and Pockets are not subject to the Electronic Fund Transfer Agreement in Section 12 below.
Pockets in your Savings Section may earn interest and annual percentage yield (“APY”). We charge fees for certain services. A complete list of our fees and rates, with related disclosures, are set forth in Appendix A to this Agreement, ONE Demand Deposit Account Rates and Fees. Our rates and fees are also listed in the ONE App.
The funds on deposit in your Account are held with the Bank – Coastal Community Bank, member FDIC – on your behalf, and are insured by the Federal Deposit Insurance Corporation (“FDIC”) to the maximum allowed by law. Deposits are insured up to $250,000 per depositor. For more detailed information on FDIC insurance coverage, contact the FDIC directly by visiting www.fdic.gov or by calling 1-877-ASKFDIC (1-877-275-3342) (TDD: 1-800-925-4618).
“Round-ups” is a feature that automatically moves certain funds from your Debit Section to your Savings Section. With “Round-ups” enabled, ONE will scan transactions in your Debit Section and will round up each eligible purchase in your Debit Section to the nearest whole-dollar value. In the case of whole dollar transactions, ONE will round up an extra full dollar. Each day, ONE will transfer the prior day’s accumulated round-up amounts from your Debit Section to your Savings Section. Your Debit Section must have sufficient funds available to effectuate these transfers.
Funds in your Savings Section accrue interest at a variable rate of interest. Different Pockets in the Savings Section may accrue interest at different rates. At our discretion, we may change the interest rate(s) on any Pocket at any time without notice or limit. We may also offer interest rate bonuses and other special promotions subject to terms and conditions. Current rates are set forth in Appendix A to this Agreement, ONE Demand Deposit Account Rates and Fees. Current rates are also listed in the ONE App.
We compound and credit interest to your Account on a monthly basis. We use the daily balance method to calculate that interest. The daily rate is 1/365 of the interest rate (in a leap year we may use 1/366). We apply the daily periodic rate to the collected balance in the applicable Pocket, which accrues interest each day. When you deposit into a Pocket that accrues interest, interest begins to accrue on the item on the Business Day the item posts to that Pocket. We pay interest in whole cents. If accrued interest does not equal a whole cent, it will be held until such time as it equals a whole cent and will be paid accordingly.
With our Early Pay service, we may, at our discretion, provide you with your direct deposit up to two days early. We do not charge a fee for this service.
To be eligible, you must have an Account that is open and in good standing and you must receive a qualifying direct deposit. Your direct deposit information, when received by us, must be sufficient for us to identify it as a direct deposit. When we receive notice of a qualifying direct deposit prior to your payment date, we will advance the amount of that deposit to you up to two days before the payment date. If this occurs prior to our receipt of the funds for that direct deposit, once we do receive those funds, we will use them to repay the advance we provided to you. This service will not overdraw your Account. Any direct deposit we do not post early will be otherwise posted in accordance with this Agreement. Even after we have made funds available to you, you remain responsible if a deposit is returned, rejected, or otherwise uncollected by us.
Subject to applicable law, we may cancel the Early Pay service or suspend your ability to participate in the Early Pay service at any time and without notice. You acknowledge and agree that we do not guarantee we will be able to provide the Early Pay service even if we have provided it in the past and that we are not liable for any indirect, incidental, consequential, special, exemplary, or punitive damages arising if and when we do not provide the Early Pay service.
Certain account features may not be available to you. We may decide, in our sole discretion, which features to make available. Your ability to use certain features may be suspended at any time.
We may decide, in our sole discretion, which features to make available through the ONE mobile application or ONE website; we may offer certain features on one platform, the other, or in both locations.
Certain promotions, pricing, or features may be limited to users who receive eligible direct deposits into their Account (“Plus Customers”). In order to become a Plus Customer (and be eligible for such promotions, pricing, or features), you must:
Each month we will determine if you had $500 or more in eligible deposits in the previous calendar month. If so, you will remain a Plus Customer for the month in which the analysis was run.
An eligible direct deposit is a recurring electronic deposit of your paycheck, pension, government benefits (such as Social Security) from your employer, payroll provider, or the government. Person-to-Person and bank transfers between your ONE account and accounts you have at other financial institutions or brokerages are not considered a direct deposit. Your direct deposit information, when received by us, must be sufficient for us to identify it as a recurring direct deposit.
Pay Autosave is a pocket that pays a higher rate of interest on eligible direct deposits that you automatically set aside to save. Pay Autosave is activated if you (1) sign up to have funds directly deposited into your ONE Account, and (2) activate Pay Autosave in the app by choosing either a percentage or an amount of each eligible direct deposit to allocate to Pay Autosave. We will automatically transfer the selected percentage or the amount allocated from each eligible direct deposit into your Pay Autosave Pocket. In the event that the amount of your eligible direct deposit is less than the amount selected at time of activation, we will transfer the full amount of that eligible direct deposit. Pay Autosave is not applicable to funds deposited through ONE@Work Save or ONE@Work Instapay.
You may make deposits into and withdrawals from your Account as set forth below and in this Agreement. The methods listed may not be available to all users or at all times. We do not accept any deposits denominated in a currency other than U.S. Dollars.
You may deposit funds to your Account through the following methods:
You may withdraw the funds in your Account via the following methods and subject to the limitations below (see Appendix A for any related fees we may impose):
Your Account is generally subject to the following limits:
* Additionally, your limits may be lower due to confidential fraud and security measures. Please see the ONE App to view your current transaction limits.
We may not process or honor any deposit to or withdrawal from the Account that is attempted by any method not specifically permitted above. We may also either refuse or delay any transaction request that violates the limits above. Further, we may impose additional limits on the dollar amount or number of your deposits, withdrawals, and other transactions in our sole discretion if we suspect unusual activity, including, among others, fraud, account takeover, or possible illegal activity. If you attempt to deposit or withdraw from your Account in a method not specifically permitted above or exceed a limit after we have notified you of a violation of this Agreement, we may close your Account.
Account services are not available at Bank retail locations. Should you attempt to make a deposit or withdrawal at a Bank location, you will be directed to ONE for more information.
We will not issue paper checks to you in connection with your Account. Do not give any Account number(s) or routing number to any merchant or other person to pay for goods or services unless you are certain that the person to whom you give the information will process the transaction as an ACH debit or similar transaction and not as a check. (ACH transactions that can be processed are sometimes called "electronic fund transfers" or "electronic debits.") We will not pay any transaction that a merchant or other person processes as a check, sometimes called a "remotely-created check" or "remotely-created payment order." You may be charged fees by the merchant when a check transaction is returned to them unpaid.
If your employer asks for a voided check to set up a recurring direct deposit of your paycheck, you can instead provide your Debit Section account number and routing number, which you can find in the ONE App.
Requesting to mail a check. If available, you can request to send a personal check through the ONE App. You can create a check made payable to any person or business with a United States address that is verifiable by the USPS. We will deduct funds from your Debit Section when you create the check. Mailed checks will expire after 180 days if not cashed or deposited, and funds used for that check will be returned to your Account. We are not responsible for expenses, fees, or other costs you must pay to third parties that result from a failure to send or receive any check by any certain date or time.
Overdraft Availability for Mail Checks. If you are eligible for Overdraft and Overdraft is turned on for your Account, it may not be available for mail a check. Make sure to have enough funds in your Debit Section to cover any checks you create.
Canceling and Stopping Payments for Mail Checks. If the check is incomplete or contains an error, please cancel or place a stop payment on the check and initiate a new check. If you need to cancel a check or place a stop payment on an issued check, contact us as soon as possible.
Requesting a stop payment does not prevent the check from being delivered. Please let the recipient know that payment on the check has been stopped and that it will be returned if deposited. Once a stop payment has been implemented, the check will not be honored if deposited.
Forged Endorsement. If you notice a discrepancy in the endorsement or that a check was not paid to the intended recipient, please contact us. We will provide you a forged endorsement affidavit to complete. If we determine that a claim is valid, we will file a breach of warranty claim against the depository bank within a reasonable time upon validation of the affidavit. If you file repeated forged endorsement claims that we determine may not be valid, we may deny the claim(s) and not file a breach of warranty claim.
Deposit Cash and Withdraw Cash. If available, you may deposit or withdraw cash using the ONE App at Walmart stores via the money transmission service provided by InComm Financial Services, Inc., and subject to additional terms set forth by InComm Financial Services and Walmart. Certain limits may apply. See “Section 4b. Transaction Limitations”. Other participating retailers may apply a per transaction fee for adding cash at their locations and may impose additional transaction limits and terms.
To use this service, you will initiate the transaction through the ONE App, which will generate a barcode or other verification screen. Take the verification screen to the Walmart Money Center or Customer Service Desk along with valid identification to complete the transaction. Alternatively, you may deposit or withdraw cash at a Walmart store by presenting your ONE Debit Card to a cashier.
Generally, funds that we receive from you through Deposit Cash transactions will be available to you when we receive the funds from the third-party service provider and process the funds for deposit to your Account. Please note that even if we make funds available to you prior to our actual receipt, those funds will not be FDIC insured until we receive and process them.
Overdraft Availability for Deposit Cash and Withdraw Cash. If you are eligible for Overdraft and Overdraft is turned on for your Account, it may not be available for Withdraw Cash.
An Over the Counter Withdrawal (“OTC Withdrawal”) is a teller-assisted cash disbursement at a bank or credit union that accepts Mastercard transactions.
One to One. One to One is a service that allows you to send money to other ONE customers who have an Account that has not been restricted. One to One transfers immediately debit funds from your Debit Section. One to One transactions are subject to the transaction limits above.
Funds sent to recipients who have a ONE Account that has not been restricted, or who open a ONE Account will generally be available immediately, but may occasionally be delayed.
You may attempt to send funds to people who do not have a ONE Account. If you do so, the recipient will receive an SMS message informing them of the funds and inviting them to open a ONE Account. If the recipient does not open a ONE Account within 10 days, the funds will be returned to the sender.
One to One Liability. You are responsible for any One to One transactions you make, including if you have any typos or keystroke errors or if you identify the wrong recipient. We are not responsible for resolving any payment or other dispute you have with a recipient, including if a transfer is directed to the wrong person or a purchased item is not as described or expected. Do not send funds to people you do not trust.
If you believe your Account has been compromised or a One to One transfer was sent from your account without your permission, please contact us immediately.
If you receive a One to One transfer and we later determine, in our sole discretion, that the transfer was invalid for any reason (e.g., the transfer was not authorized by the sender), we may debit your Account for the amount of the invalid transfer.
Pay with ONE is a payment option offered at certain retailers, where you can use the ONE App to scan a QR code at checkout in order to complete a transaction. Pay with ONE transactions are processed as debit-card not present transactions, and as such are included in the debit card transaction limits listed above.
Bill Pay is a feature that allows you to use a third party vendor, Papaya Pay, to send money to pay your bills through the ONE App. Use of this service is subject to Paypaya Pay’s terms and privacy policy, which are presented in the ONE App. You can identify the biller by searching the biller directory, entering the biller’s information manually, or by taking a photo or uploading a photo of your bill, and Bill Pay will pre-populate the biller’s information.
When possible, the bill will be paid by an electronic transaction, and funds will generally arrive at the biller within 1-3 business days. Otherwise, the bill will be paid by a mailed check, which generally takes 5-10 business days to arrive.
Your use of Bill Pay may be subject to a fee, as set forth on the rate sheet. If you schedule a bill to be paid at a later date, your eligibility for the fee will be determined at the time the payment is sent.
You can pay a bill immediately, or schedule it to be paid on a future date. For scheduled payments and immediate payments, funds will be deducted from your Debit Section at the time the bill payment is sent. If you do not have sufficient funds in your Debit Section for both the amount of payment and any fee, your payment will not be sent. You may not use the Overdraft service in connection with Bill Pay.
You are responsible for ensuring the correct biller, biller’s address and additional information entered in the Bill Pay feature is correct. If you select the wrong recipient or enter incorrect information and the payment is sent as you requested, you will be responsible for ensuring the payment gets to the correct recipient, and you are liable if such a misdirected payment is not recovered.
You must promptly notify us upon learning of or suspecting any errors or inaccuracies in any payment instructions and cooperate with us to correct any payments made that are misdirected, unauthorized, erroneous, or duplicative. We will work with Papaya Pay to attempt to correct the error.
You acknowledge and agree that ONE does not guarantee or have control over or liability for: (1) the products, services, or other consideration that you receive in connection with bills being paid through this feature; (2) any inaccurate or incomplete payment instructions received from you; (3) payment of any payment instruction received from you being made within the timeframe agreed to between you and your payee; (4) insufficient funds in your Debit Section; (5) any refusal by your payee to accept a payment; or (6) any error, failure, compromise or malfunction of your computer or other equipment used to access the Bill Pay feature.
You may make a stop payment request of a scheduled electronic fund transfer from your Account by notifying the ONE in writing at least three business days before the scheduled date of the payment/transfer.
Bank transfer to a linked account via Debit OCT, which is referred to in the ONE App as “Instant Transfer”, allows you to move funds from your Account to a linked external account via the debit card for that external account. Funds moved via Instant Transfer are typically available in your external account within minutes. Your use of Instant Transfer may be subject to a fee, as set forth on the rate sheet.
You will receive a ONE Debit Card for use with your Debit Section.
The ONE Debit Card is not a prepaid card, credit card, gift card, or gift certificate. The ONE Debit Card is issued by the Bank under license by Mastercard International®. The ONE Debit Card remains the property of the Bank and must be surrendered upon demand. The ONE Debit Card cannot be redeemed for cash. The ONE Debit Card may not be resold, transferred, or assigned. The ONE Debit Card is not connected in any way to any other account with us. The ONE Debit Card may be canceled, repossessed, or revoked at any time without prior notice subject to applicable law. We may refuse to process any transaction that we believe may violate the terms of this Agreement.
You may use your ONE Debit Card to access your Debit Section for purchases wherever Mastercard® is accepted. Subject to limitations set forth in Section 6 of this Agreement and to limitations set by the ATM owner or merchant, you may use your ONE Debit Card to initiate the following transactions:
When you use your ONE Debit Card or ONE Debit Card number to initiate a transaction at certain merchant locations, websites or mobile applications, such as hotels, restaurants, gas stations, and rental car companies, where the final purchase amount is unknown at the time of authorization, a hold may be placed on the available funds in your Account for an amount equal to or in excess of the final transaction amount. The funds subject to the hold will not be available to you for any other purpose until the merchant sends us the final transaction amount. Once we receive the final transaction amount, it may take up to seven days for the hold to be removed. During that period, you will not have access to the funds subject to the hold.
In addition to the physical ONE Debit Card, your Debit Section comes with a virtual card accessible via the ONE app. At times, we may allow virtual cards to be enabled for your other Pockets. Note that those virtual card numbers will not be associated with a physical card.
A Digital Wallet may allow you either transfer money to other users of the Digital Wallet or pay for transactions with merchants where the Digital Wallet is accepted. You may add your ONE Debit Card into a digital wallet (“Digital Wallet”) service operated by a third party (“Wallet Provider”). For instructions on how to do so, please contact the Wallet Provider. You may not use your ONE Debit Card in a Wallet if your ONE Debit Card has been canceled, suspended, or closed for any reason. To complete certain transactions, a merchant may require you to present a physical ONE Debit Card or a government-issued form of identification.
These services are not provided by us and we are neither responsible for providing any Digital Wallet service to you nor responsible for any unavailability of or failures, errors, or delays in the Digital Wallet service or its availability. We reserve the right to suspend or terminate at any time your ability to use a Digital Wallet service. Your use of the Digital Wallet may be governed by terms and conditions provided by the Wallet Provider and third party wireless companies, and/or data service providers and others. However, this Agreement, which governs your use of the ONE Debit Card, still applies when you use a Digital Wallet. You are solely responsible for any fees charged by a Wallet Provider. Transaction history regarding Digital Wallet transactions may not reflect complete information about your transaction, as we can only provide to you the information we receive from the Wallet Provider. To remove your ONE Debit Card from a Digital Wallet, you must contact the Wallet Provider for instructions on how to do so.
You agree to protect and keep private all information required to use the Wallet. Failure to protect this information could allow others to use your ONE Debit Card and access personal or ONE Debit Card information. Adding your ONE Debit Card to the Wallet constitutes providing an access device to the operator of the Wallet, and also authorization for subsequent transactions. To revoke this authorization, you must notify us in advance and provide us the opportunity to close and reissue your ONE Debit Card.
We reserve the right to terminate our participation in a Digital Wallet or with a Wallet Provider at any time. You are responsible for identifying and reporting to us any billing errors that occur as a result of your usage of a Digital Wallet. Any reported errors will be in accordance with this Agreement.
ANY ONE DEBIT CARD AND RELATED INFORMATION, PRODUCTS, AND OTHER CONTENT FOR USE WITH OR ACCESSIBLE FROM A DIGITAL WALLET IS PROVIDED "AS IS" AND WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. UNDER NO CIRCUMSTANCES SHALL ONE, ITS PROCESSORS, SUPPLIERS, OR LICENSORS (OR OUR OR THEIR RESPECTIVE SUBSIDIARIES, AFFILIATES, AGENTS, EMPLOYEES, OR DIRECTORS) BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, EXEMPLARY, OR CONSEQUENTIAL DAMAGES WHATSOEVER, THAT MAY ARISE IN CONNECTION WITH YOUR USE OR INABILITY TO USE ANY ONE DEBIT CARD IN CONJUNCTION WITH A DIGITAL WALLET EVEN IF WE ARE ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, LOSSES, OR EXPENSES. Some jurisdictions do not allow the exclusion or limitation of liability for consequential or incidental damages. In such jurisdictions, our liability is limited to the greatest extent permitted by law.
USE OF A ONE DEBIT CARD AND RELATED INFORMATION FOR USE WITH A DIGITAL WALLET INVOLVES THE ELECTRONIC TRANSMISSION OF PERSONAL INFORMATION THROUGH THIRD PARTY CONNECTIONS. BECAUSE WE DO NOT OPERATE OR CONTROL THESE CONNECTIONS, WE CANNOT GUARANTEE THE PRIVACY OR SECURITY OF THESE DATA TRANSMISSIONS. WE ASSUME NO RESPONSIBILITY, NOR LIABILITY FOR ANY PERSONAL OR CONFIDENTIAL INFORMATION SENT TO OR FROM ONE OVER THE INTERNET FROM YOUR SUPPORTED DEVICE.
Transactions made with your ONE Debit Card in foreign currencies are posted to the relevant Section or Pocket in U.S. dollars. The exchange rate between the foreign currency and U.S. dollars is a rate selected by Mastercard®. Mastercard® will select from the range of rates available in wholesale currency markets or a rate mandated by the government that issues or controls the currency in that country on the date it processes the transaction. The processing date on which the exchange rate is applied may differ from the transaction date or the posting date. While we do not charge fees when you use your ONE Debit Card in foreign currencies, fees may be assessed by processors in such foreign transactions.
ONE may charge you a fee for using your ONE Debit Card at ATMs, as set forth in Appendix A, ONE Demand Deposit Account Rates and Fees, and ATM owners may charge you a fee as well. If there is a fee from an ATM owner, you should be told how much it is before you complete the withdrawal. If you then decide to withdraw the money, the amount of the withdrawal, plus all fees, will be deducted from the Debit Section at the time of the transaction.
We reserve the right to decline any ONE Debit Card transaction if we suspect unusual activity, including, among others, fraud, account takeover, or possible illegal activity. We may also apply transaction limits, such as a maximum withdrawal dollar amount per day. Please see Section 4(a) of this Agreement for specific limitations.
You may activate your ONE Debit Card and create or change your PIN through the ONE App. You should protect your PIN as you would your ONE Debit Card.
You may not receive cash refunds for ONE Debit Card transactions. If a merchant gives you a credit for merchandise returns or adjustments, the merchant may do so by processing a credit adjustment. After we process a credit adjustment we will adjust your Account accordingly. We are not responsible for the delivery, quality, safety, legality, or any other aspects of goods or services that you purchase with your ONE Debit Card. All such disputes must be addressed and handled directly with the merchant from whom those goods or services were purchased.
Do not share your ONE Debit Card number or PIN with anyone. You should treat your ONE Debit Card number with the same care as you would treat cash. Either memorize your ONE Debit Card number or keep it in a safe place. Do not send your ONE Debit Card number in an email or text message. Make sure your Card number is secured with encryption when you use your ONE Debit Card to perform transactions over the Internet or wireless networks. If you believe that anyone has gained unauthorized access to your Card number, you must advise us immediately. Always protect your ATM card and PIN. Be aware of your surroundings at ATMs, particularly at night. Protect your privacy by shielding the keypad while entering your PIN and not counting your cash at the ATM, for example. If you need emergency assistance, call 911.
ONE does not offer a traditional fee-based overdraft service. If you become a Plus Customer, you will be automatically enrolled in our fee-free overdraft service when you make qualifying direct deposits (“Fee-Free Overdraft”). You may opt out of Fee-Free Overdraft in the ONE App. Fee-Free Overdraft will apply in the event that a withdrawal or other transaction in your Debit Section will result in a negative balance in that Section. Certain features, such as mail a check may not be eligible for Fee-Free Overdraft. Fee-Free Overdraft service may not be available at all times to all customers. There is no fee for this service.
We pay overdrafts at our discretion. We do not guarantee we will always pay a transaction that would result in an overdraft. Even if we have paid overdraft transactions before, we are not required to pay them in the future. We may pay or not pay (return) any transaction if your Account balance is less than the amount of that transaction. You agree to hold us harmless for any decision we make to not pay an overdraft. The available balance shown to you in the ONE App may not be the same amount used to pay your transactions as some transactions may not be displayed to you when we make our determination. Under no circumstance, will we authorize a transaction that would result in a negative balance in your Debit Section exceeding $200.
You must immediately pay the amount of any overdraft. We may report you to consumer reporting agencies, close your Account, or both if you fail to repay an overdraft. This could affect your ability to open accounts in the future. Subject to applicable law, you authorize us to use the money from any subsequent deposits to your Debit Section (including but not limited to a direct deposit of Social Security or any other state or federal benefit payment) to repay an overdraft or other negative balance. You authorize us to use funds in a pocket other than your Debit Section or any other account you have at the Bank to repay any unpaid overdraft or negative balance. You agree to pay all costs and expenses we incur in collecting any overdraft or negative balance. We may still pursue collection of the amount you owe (including litigation) after it is charged off. It’s your responsibility to avoid overdrawing your Account.
You agree to pay any charges for additional services you request that are not covered by this Agreement. We will advise you of the amounts of such charges at the time you request the additional services. You agree to be liable for any Section or Pocket deficit or shortage, whether caused by you or by another person to whom you give Section or Pocket access. You must satisfy this liability immediately and may not defer its payment. Subject to applicable law, we may deduct any deficit or shortage amount directly from a Section or Pocket balance whenever sufficient funds are available. This includes costs we incur to collect any Section or Pocket deficit, including, to the extent permitted by law, our reasonable attorneys’ fees, court costs and costs of collections. You understand that third parties may impose fees if a withdrawal or other transaction in a Pocket is declined due to insufficient funds. You agree that we do not have any liability to you for such fees.
Subject to applicable law, we have the right to refuse any deposit. 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). If final payment is not received on any item you deposit to your Account, or if any direct deposit, ACH deposit, or electronic fund transfer to your Account is incomplete or returned to us for any reason, you agree to reimburse us for such returned funds previously made available to you.
Do not send cash deposits through the mail. In the event that we receive a cash deposit from you, we will attempt to return the funds to you. To the extent permitted by law, you agree that our determination of the amount of any deposit we receive from and return to you will be final. To the extent permitted by law, we are not liable for any deposits, including cash, lost in the mail, lost in transit, or not received by us.
If, in connection with a direct deposit plan, we deposit any amount into your Account which should have been returned to the government of the United States or a state or local government for any reason, you authorize us to deduct the amount of our liability to the government from the Account or from any other account you have with us, without prior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of liability.
When a merchant from whom you make a purchase with your ONE Debit Card requests authorization for the purchase, we will place a hold on the funds, either in the amount of your purchase or another authorized amount, until the transaction settles or the hold expires. Such holds are commonly placed by gas stations, hotels, restaurants, and rental car agencies.
We may make available to you the ability to deposit a check through the ONE App (the “Mobile Check Deposit Feature”).
We may impose limits on the dollar amount or number of deposits you make through the Mobile Check Deposit Feature, and we may change such limits at any time at our discretion. You can view your limits within the ONE App. Limits may change based on the length of time your Account has been open and Account activity. If you attempt to initiate a deposit in excess of these limits, we may reject your deposit. If we permit you to make a deposit in excess of these limits, that deposit will still be subject to the terms of this section, and we will not be obligated to allow such a deposit at other times.
You will comply with all applicable rules, laws, and regulations. Each time you scan and submit check images for deposit through the Mobile Check Deposit Feature, you also make all the warranties set forth in and subject to the terms of the Uniform Commercial Code (“UCC”) of the state of Washington for the image as if it were an item subject to the terms of the UCC. Except where limited by law, you also make the following warranties and representations with respect to each image of an original check you transmit to us:
Unless otherwise required by law, we are not responsible for check images we do not receive or for checks that are dropped during transmission. A check image will be deemed received by us only when we provide an online confirmation receipt to you that we have received your check image. When we confirm receipt of your check image, the image will still be subject to review before it is submitted for collection and may still be rejected for any reason at our sole discretion. A confirmation is not a representation, warranty, or other indication that the check image will be presented for collection or will be honored by any collecting or paying bank. By using the Mobile Check Deposit Feature, you accept the risk that an item may be intercepted or misdirected during transmission. We bear no liability to you or others for any such intercepted or misdirected items or information disclosed through such errors.
Before you submit a check for deposit through the Mobile Check Deposit Feature, endorse your check with the statement “For Mobile Deposit to ONE Finance, Inc.” Once your check image has been credited to your Account, you must mark the original check as "VOID" and retain the check for 60 days. You may not present the original check or any image or substitute check created from the original check for payment at any other financial institution. If the bank of your check has a checkbox labeled “CHECK HERE IF MOBILE DEPOSIT”, then you must check this checkbox.
If you deposit an item that is made payable to and/or endorsed by a person who is not you, the Account owner, we may refuse the item for deposit. We may also require verification of any endorsement through endorsement guarantee or personal identification. Any endorsement(s) on a check or other item you give us for deposit to your Account must appear only in the area on the reverse side that is reserved for your use and may not appear within or extend into any area that is reserved for financial institution use. Otherwise, the endorsement may interfere with our processing and collection of the item. We may refuse items that do not follow these endorsement requirements, or we may in our discretion accept a nonconforming endorsement; however, you agree to hold us harmless for any losses we incur as a result of such acceptance.
We may perform maintenance to the Mobile Check Deposit Feature from time-to-time. Such maintenance may result in interrupted service, delays, or errors in the Mobile Check Deposit Feature. To the extent permitted by law we shall have no liability for any such interrupted service, delays, or errors. We will attempt to provide prior notice of scheduled maintenance, but we do not guarantee that such notice will be provided.
You agree to notify us promptly of any suspected errors regarding items deposited, and in no event later than 30 days after the applicable account statement is sent or made available to you. Unless you notify us within 30 days, such statement regarding all mobile check deposits made shall be deemed correct, and you are prohibited from bringing a claim against us for such alleged error.
We have no duty to honor and may disregard any information on a check other than the signature of the drawer, the identification of the payor bank and payee, the amount of the check, and any MICR-encoded (Magnetic Ink Character Recognition) information. Specifically, we have no duty to visually inspect signatures. If we do pay or accept checks or other items bearing restrictions or notations (such as “Void after 6 months,” “Void over $50.00,” “Payment in full,” and the like), you agree that such restrictions or notations apply only between you and the payee or maker of the check. The notation will have no effect on us, and you agree to accept responsibility for payment of the item and we are not liable to you for any claims, costs, losses, or damages that result from the placement of these restrictions or other notations on checks or other items, or from our having disregarding them.
You agree that you will not deposit "substitute checks" as defined by federal law or Image Replacement Documents (“IRD”) that purport to be substitute checks and have not been previously endorsed by a bank. If you deposit such an item, you give us the same warranties and indemnities that ONE and the Bank, as a reconverting bank, would give under applicable law or regulation and you agree to reimburse us for claims, losses, costs, and damages we may incur. If you provide us with an electronic representation of a substitute check for deposit into your Account instead of an original check, you agree to reimburse us for all claims, losses, costs, and damages we incur because the substitute check does not meet applicable substitute check standards or causes duplicate payments.
You may not deposit the following types of items:
In addition to the other indemnification provisions set forth in this Agreement and subject to applicable law, you agree to indemnify, defend, and hold us harmless from and against any and all claims, demands, damages, liabilities, expenses (including reasonable attorneys' fees and court costs), or other loss that arises from or relates to your use of the Mobile Check Deposit Feature or your breach of the representations, warranties, or covenants set forth in this Agreement, including, without limitation, your attempt to duplicate the presentation of a check image via presentation of the original check or an image or substitute check derived from the original check and any liability that we may incur for processing an image or substitute check rather than the original paper check.
We may delay the availability of funds from your check deposits and certain other types of deposits. If you make a deposit before 2:00 pm PT on a Business Day, we will consider that day to be the day of your deposit. However, if you make a deposit on or after 2:00 pm PT on a Business Day or on any day other than a Business Day, we will consider the deposit as made on the next Business Day (each such date the “Deposit Date”).
Funds from wire transfers or other electronic payments will be made available on the Business Day received, or on the effective date of the transfer or payment, if later than the Business Day received.
Once a check is deposited, the pending check may take up to (1) Business Day to appear in the ONE App. Deposited checks will be reviewed. Once the check is approved, funds from a mobile check deposit are generally made available on the fifth (5th) Business Day after approval, if not sooner. We may hold the funds for up to nine (9) Business Days from the Approval Date. In some instances, funds may be available sooner than nine Business Days based on such factors as credit worthiness, the length and extent of your relationship with us, transaction and experience history, and such other factors as we, in our sole discretion, deem relevant.
Check Availability Example:
Day Submitted (photo taken in app) For a deposit after 2:00 PM PT or on a day other than a Business Day, we will consider that the deposit was made on the next Business Day. | Monday 4/5 before 2pm PT | Monday 4/5 after 2pm PT |
Deposit Date | Monday 4/5 | Tuesday 4/6 |
Approved Date (if not ineligible for deposit) | Monday 4/5 | Tuesday 4/6 |
Pending It may take up to one (1) Business Day after being approved to appear as a pending transaction. | Tuesday 4/6 | Wednesday 4/7 |
Funds Availability - 4 Business Day hold Funds from a check deposit are generally made available on the 5th Business Day after approval, if not sooner. | Monday 4/12 | Tuesday 4/13 |
Funds Availability - 9 Business Day hold | Monday 4/19 | Tuesday 4/20 |
We post non-ACH transactions when and in the order we receive them. With regard to ACH transactions, which can be credits or debits, you have the ability to initiate ACH transactions both through ONE (“ONE-initiated ACH”) and outside of ONE (“ONE-received ACH”). We post ONE-initiated ACH transactions as follows: debits post in real-time, and credits generally post by the end of the third business day. We post ONE-received ACH transactions on a rolling basis as follows: in each batch, credits post first, by high to low dollar amount, and then debits post, by high to low dollar amount, unless otherwise specified by an effective date.
Your Account is owned by you as a single individual. We may permit you to share a Section or Pocket with another person (such person an “Authorized User”). In such circumstances, such other person is merely authorized to withdraw or deposit funds on behalf of you, the Account owner. The Authorized User is not an owner of the Account and your Account with a shared Section or Pocket is not a joint account. Only consumers with their own Accounts may be Authorized Users of other Accounts. You must keep your own Account open in order to maintain access for an Authorized User to a Pocket of your Account or to be an Authorized User of another person’s Section or Pocket of their Account.
We will not title the Account in any manner other than in the name of a single individual. For example, we will not title any Account as a multiple-party account owned jointly, as owned by an organized entity, as “Payable on Death,” or “In Trust For.” Further, Pockets merely represent different positions within an Account and may have different features (including the ability to accrue different interest rates). However, Sections and Pockets are not separate from the Account and cannot be titled differently from the Account.
By adding an Authorized User to a Section or Pocket, you authorize that person to deposit and withdraw money, and otherwise transact, in that Section or Pocket on your behalf. You acknowledge and agree that any such Authorized User who has access to a shared Section or Pocket you create may withdraw or use all the funds in such Section or Pocket without additional authorization from you. Subject to applicable law, you further agree that we may be unable to recover the money or cancel external transfers made by such Authorized User. Further, you agree that any transactions authorized by an Authorized User shall be considered as if authorized by you. In addition, you agree to share all information relating to a Section or Pocket for which you have added an Authorized User to such Authorized User, including all transaction history and other information associated with all other Authorized Users to whom you have provided access to such Section or Pocket whether or not any such Authorized User continues to have access to the Section or Pocket. Information you agree to share includes information about the shared Pocket from the time you created it. You may remove an Authorized User’s access to a shared Section or Pocket, and the corresponding authorization to transact in such Section or Pocket through the ONE App. You may close any shared Section or Pocket you create without obtaining the consent of any Authorized User to whom you have provided access to such Section or Pocket. As the owner of the Account, you are the owner of all the funds in such shared Section or Pocket.
If you become an Authorized User of a shared Section or Pocket created by another ONE Account-owner, you acknowledge and agree that any money you deposit into such a shared Section or Pocket may be withdrawn or used by the owner of the Account or any other Authorized User of such Section or Pocket who at that time or at any time in the future has access to such Section or Pocket, without any authorization from you. Your access to a shared Section or Pocket as an Authorized User may be terminated at any time by the owner of the Account and you do not have the legal right to the funds in such shared Section or Pocket. You further acknowledge and agree to share all information relating to your transactions in such Section or Pocket with any person who at that time or at any time in the future has access to such Section or Pocket. You agree to share such information with current and future Authorized Users of such Section or Pocket, even after you no longer have access.
You may give another person (called an “attorney in fact”) authority to withdraw funds from and/or take other actions with respect to your Account pursuant to a power of attorney acceptable to us. To appoint an attorney in fact for your Account, you or your attorney in fact must contact us directly. Unless prohibited by applicable law, we may refuse to honor a power of attorney or allow the appointment of an attorney in fact for your Account for any reason. An attorney in fact may not open an Account on your behalf. Once we accept your power of attorney, we may allow your attorney in fact to access and otherwise transact through your Account unless or until we receive and have had a reasonable opportunity to act on written notice that you have died or that the power of attorney has been revoked. We have no duty to monitor or ensure that the acts of your attorney in fact are for your use or benefit or are otherwise permissible under applicable law. We will not be liable if your attorney in fact exceeds his or her powers or does not comply with your instructions or applicable law. You agree to hold us harmless from and against any actions we take based upon the instructions of your attorney in fact or that your attorney in fact takes regarding your Account, unless or until we receive and have had a reasonable opportunity to act on written notice that you have died or that the power of attorney has been revoked.
You agree that your appointed party or individual, or your designee, will notify us promptly if you die or become legally incapacitated. We will continue to accept deposits and process transaction instructions into and from your Account until we are (1) notified of your death or adjudication of incompetency, and (2) have a reasonable opportunity to act. You agree that, even if we have knowledge of your death, we may pay or process transactions to or from your Account on or before the date of death for up to ten (10) days after that date unless ordered to stop payment by someone claiming interest in your Account. We may require additional documentation to confirm any claims on your Account. If certain payments originating from government entities are deposited into your Account after your death, we may be required to return those payments to the originator upon notice.
You will receive a monthly statement for your Account. You must review your monthly statement promptly. If you discover (or reasonably should have discovered) any errors or unauthorized or missing transactions, you must promptly notify us. Please see Section 12 of this Agreement, which governs errors regarding Electronic Fund Transfers (“EFT”).
We do not return canceled checks to you. You can review and obtain copies of your recent checks through the ONE App. We may charge you a fee for check copies. When a copy is unavailable or of poor quality, we are not liable to you for any claim, cost, loss, or damage of any kind. To obtain a check copy, you must provide your account number, plus at least one of the following:
Some checks that you write may be converted to electronic debits. In this case the check is not sent to us for processing, so we do not have a copy. These electronic debits are listed on your Account statement.
You will have a record in the ONE App of each deposit you make. You also will usually receive or have the option to receive a receipt at the time you make a transaction at an ATM or merchant location.
This EFT Agreement and Disclosure is made in accordance with federal law regulating electronic funds transfer services. The Electronic Fund Transfer Act and Regulation E apply to any account established primarily for personal, family, or household purposes, and require financial institutions to provide certain information to customers. EFTs are electronically initiated transfers of money involving an account at a financial institution. The following disclosures set forth your and our rights and responsibilities concerning EFTs.
An EFT is any transfer of funds, other than a transaction originated by check, draft or similar paper instrument, that is initiated through an electronic terminal, telephone, computer or magnetic tape to instruct us to debit or credit an account. EFTs include such electronic transactions as direct deposits or withdrawals of funds, automated teller machine transfers, transfers initiated by telephone, transfers initiated through the ONE App, and ONE Debit Card transactions. Preauthorized EFT is an EFT that you have authorized in advance to recur at substantially regular intervals, for example, direct deposits into or withdrawals of funds out of your Account.
If you have told us in advance to make regular payments out of your Account by preauthorized electronic fund transfer, you can stop any of these payments by calling us at 855-830-6200 or writing us at ONE Finance Inc., P.O. Box 513717, Los Angeles, CA 90051 in time for us to receive your request three (3) Business Days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call. If you order us to stop one of these payments three (3) Business Days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages. Your stop payment order will be effective until you cancel it. However, if we require written confirmation and do not receive it, we may remove the stop payment order after 14 days. You must provide the exact amount of the payment you have stopped, as well as other identifying information as ONE requests. ONE may charge you a fee for each stop payment order you place. To the extent that the ONE App provides functionality to stop payment electronically, such stop payment submission shall constitute a written request.
If these regular payments may vary in amount, we will tell you, 10 days before each payment, when it will be made and how much it will be. (You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.)
If we do not complete an EFT to or from your Account on time or in the correct amount according to our Agreement with you, we will be liable for your losses or damages, subject to the following exceptions:
Call: 855-830-6200 or write: ONE Finance Inc., P.O. Box 513717, Los Angeles, CA 90051 as soon as you can if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared. You may only assert an error by contacting us at the phone number or address set forth above.
When contacting us:
If you tell us orally, we may require that you send us your complaint or question regarding an EFT in writing within 10 Business Days. We will generally determine whether an error occurred within 10 Business Days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 Days to investigate your complaint or question. If we decide to do this, we will provisionally credit the relevant Pocket within 10 Business Days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 Business Days, we may not credit the Pocket.
For errors involving new Accounts, point-of-sale, or transactions initiated outside of the United States, we may take up to 90 days to investigate your complaint or question. For new Accounts, we may take up to 20 Business Days to credit you for the amount you think is in error. A new Account is an Account that was first funded within 30 days prior to the error.
We will tell you the results within three (3) Business Days after completing our investigation. If we determine that the disputed transaction was appropriately authorized we will deduct any provisional credit to the relevant Pocket and we will send you a written explanation. You may ask for copies of the supporting documents that we used in our investigation.
If you have arranged to have preauthorized transfers made to your account at least once every 60 days from the same person or company, you can call us at 855-830-6200 to find out whether or not the transfer has been made.
Tell us AT ONCE if you believe your Account login credentials, PIN, debit card, or access code (each, an "Access Device") has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account (plus your maximum overdraft line of credit, if any). If you tell us within two (2) Business Days after you learn of the loss or theft of your Access Device, you can lose no more than $50 if someone used your Access Device without your permission.
If you do NOT tell us within two (2) Business Days after you learn of the loss or theft of your Access Device, and we can prove we could have stopped someone from using your Access Device without your permission if you had told us, you could lose as much as $500.
If your statement shows transfers that you did not make, including those made by an Access Device or other means, tell us at once. If you do not tell us within 60 days after the statement was made available to you in the ONE App, and we determine that we could have stopped someone from making those transfers if you had told us sooner, you may not get back any money you lost after the 60 days. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods.
Contact Us In the Event of Unauthorized Transfers: If you believe your Access Device has been lost or stolen, call: 855-830-6200 or write: ONE Finance Inc., P.O. Box 513717, Los Angeles, CA 90051. You should also contact us if you believe a transfer has been made without your permission.
Notwithstanding the foregoing, you are not liable for any unauthorized ONE Debit Card transactions, including transactions made at merchants, over the telephone, or on the internet, if you have used reasonable care in protecting your card from loss or theft and you promptly report the loss or theft to us by contacting us at 855-830-6200.
From time-to-time, we may offer different promotions or special offers to you. These promotions may have additional restrictions, qualifications, and requirements and will be available for a limited time or to a limited number of customers. Not all customers may be eligible for all promotions. We reserve the right to cancel a promotion or your ability to participate in a promotion at any time and for any reason. If we suspect fraud in connection with your participation in a promotion, we may not provide you the benefit of a promotion or we may close your Account. Please contact us if you have questions about your eligibility to participate in a promotion. Terms and conditions of promotions are available in the ONE App.
We will disclose information to third parties about your Account or the transfers you make:
You authorize us to obtain information about you from third parties, including consumer reporting agencies, in connection with the opening and servicing of your Account, including the collection of any deficit Section or Pocket balance and any other amounts you may owe us. If you ask, you will be told whether any consumer report was requested and the name and address of the consumer reporting agency that provided the report. We may report information about your Account to consumer reporting agencies. Missed payments to correct deficit Section or Pocket balances or other defaults on your account may be reflected in your consumer reports.
We may freeze or close your Account, or one or more of your Sections or Pockets, at any time for any reason (including because of a default under any Agreement you have with us for any type of account, or if you withdraw your consent to receive any required notices from us electronically), and without prior notice. We may consider your Account to be “inactive” after a period of no activity initiated by you for 365 days. If your account is “inactive” for 365 days, we may consider it to be “dormant”, at which time it may be closed. We may tender to you the balance in any closed Sections or Pocket, less any amounts owed to us, by sending funds to your linked external account or mailing a check to your most recent address reflected in our records. However, if we close your Account for inactivity, state escheat laws may, depending on the length of the inactivity, require us to transfer your balance to a state agency. If this occurs, you may be able to file a claim with that agency to recover the funds.
You may close your Account at any time by contacting us. If you tell us you want to close your Account, we will give you the opportunity to withdraw the balance less any fees, claims, setoffs or other amounts. After the time at which we restrict your Account to prepare for closing, we will not pay any additional interest on the Account, including any accrued interest that has not yet been credited.
At the time we close your Account, we will hold back enough money to cover any payments you approved before your Account was closed. You will also still owe us any money that you owed us while your Account was open. After we close your Account, we have no obligation to accept deposits or process transaction instructions. We have the right to advise consumer reporting agencies and other third-party reporting agencies of accounts closed for misuse.
Remember that any recurring payments or withdrawals from your Account need to be canceled, such as bill payments, before your request to close your Account. Otherwise, they may be returned unpaid.
We are not required to close your Account at your request if you have one or more pending transactions, one or more Section or Pockets has a deficit or shortage, or your Account is subject to legal process (such as a garnishment, attachment, execution, levy or similar order). In those cases, we will restrict your Account against all future withdrawals other than under legal process until pending transactions are paid or returned, your balance is no longer negative, and any legal restriction has been released.
We may use automated telephone dialing, pre-recorded messages, push notifications, text messaging systems, and email to provide messages to you about important information regarding this Agreement or your relationship with us.
By providing us with a telephone number, you expressly authorize us and our affiliates, agents, and independent contractors, to deliver or cause to be delivered telephone calls or text messages using an automatic telephone dialing system or artificial or prerecorded voice, including calls or texts made for advertising purposes or that constitute telemarketing, to the telephone number you provide us. Message, data, and call rates may apply. To opt out of marketing-related text messages at any time, reply STOP or contact us to stop receiving marketing-related phone calls. Receiving these calls or texts is not required as a condition to maintain your Account. You must, however, be able to accept non-marketing communications from us. The telephone messages may be played by a machine automatically when the telephone is answered, whether answered by you or someone else. These messages may also be recorded by your voicemail. You give us your permission to call or send a text message to any telephone number you have given us or you give to us in the future, or that you have given or give in the future in connection with your Account, and to play pre-recorded messages or send text messages with information about the your Account over the telephone. You also give us permission to communicate such information to you by push notification or email.
You agree that we will not be liable to you for any fees, inconvenience, annoyance, or loss of privacy in connection with such calls, texts, push notifications, or emails. You understand that anyone with access to your telephone or email account may listen to or read the messages, notwithstanding our efforts to communicate only with you.
Because we operate online and conduct business solely through the ONE App, you must consent to receive all disclosures, notices, documents, agreements, and information associated with your Account ("Communications") electronically in order to transact business with us. This section informs you of your rights when receiving electronic Communications from the Bank or ONE regarding your Account.
You agree that ONE, the Bank, their affiliates, agents, and representatives may provide all Communications to you electronically, including in the ONE App, or by email. You may still request a paper copy of any Communication by following the procedure outlined below.
We will not send you a paper version of any Communication; however, we reserve the right, but assume no obligation, to provide a paper (instead of electronic) copy of any Communication that you have authorized us to provide electronically. You can obtain a paper copy of an electronic Communication by printing it yourself or by requesting that we mail you a paper copy. To request a paper copy, contact us at 855-830-6200.
You may withdraw your consent to receive future Communications electronically by contacting us at 855-830-6200. Your withdrawal of consent will be effective only after we have had a reasonable period to process your request. While you have the right to withdraw your consent, we reserve the right to close your Account. If you withdraw your consent, the legal validity and enforceability of prior Communications delivered in electronic form will not be affected.
To electronically receive, access, and retain the Communications, you must have:
You represent that you have the hardware, software, and email capacities described above, and your ability to access and agree to this Agreement demonstrates that you have the necessary hardware and software to receive Communications.
You acknowledge and grant us the right to use any of the funds in your Account to cover any money you owe to us (referred to as a “right of setoff”), including for, among others, an overdraft. We may (without prior notice and when permitted by law) set off the funds in your Account against any due and payable debt you owe us now or in the future. If the debt arises from a note, “any due and payable debt” includes the total amount to which we are entitled to demand payment under the terms of the note at the time we set off, including any balance we properly accelerate under the note.
If we set off a debt you owe us against a Section or Pocket and we refuse to pay any subsequent transaction in a Section or Pocket, we will not be liable for a refusal to pay any such transaction(s) in connection with the setoff. You agree to hold us harmless from any claim arising as a result of our exercise of our right of setoff. This right of setoff does not apply if the debt is created by a consumer credit transaction under a credit card plan.
We may at any time change or delete any term of this Agreement or add any new terms to the Agreement. When required by law, we will give you notice before the effective date of any such change, deletion, or addition that is adverse to you in writing or by any other method permitted by law. If you are unwilling to agree to such amendments, you have the right to close your Account prior to the changes taking effect. Your continued use of the Account or ONE Debit Card after the effective date of the change constitutes your agreement to the amended Agreement. You can also access the most recent version of this Agreement in the ONE App.
You understand that we may from time to time receive "Legal Process" in connection with your Account. Legal Process includes writs of attachment, execution or garnishment, tax withholding orders, levies, restraining orders, subpoenas, warrants, injunctions, requests for information from government agencies, search warrants, forfeiture orders, or similar documents or proceedings. You agree that we are not required to contest any Legal Process. We may in our discretion notify you of our receipt of Legal Process, but are not required to do so unless applicable law provides otherwise. We will not notify you of any Legal Process received if we believe the law prohibits us from doing so. In response to Legal Process we may hold or turn over Account funds or other property to a court, creditor, government agency or person named in the Legal Process as required by law.
This Agreement and your Account are governed by the laws of the United States and the state of Washington, without regard to conflicts of laws principles. To the extent that any dispute arising under this Agreement or relating in any way to your Account is not arbitrated, you consent to the exclusive jurisdiction of, and agree that such dispute may be resolved by, courts located in Snohomish County, Washington or the U.S. District Court for the Western District of Washington.
To the extent permitted by applicable law, we may assign this Agreement without obtaining your consent. You may not assign or transfer your ONE Debit Card, your Account, or this Agreement without our prior written consent.
If any provision of this Agreement is found to be invalid or unenforceable, all remaining provisions will continue in full force and effect.
The fact that we may decide not to enforce, or may delay enforcing, our rights under this Agreement on one or more occasions does not mean that we waive our right to enforce them on any later occasion.
The headings in this Agreement are for convenience or reference only and do not govern the interpretation of the Agreement's provisions. Unless it would be inconsistent to do so, words and phrases used in this Agreement shall be construed so the singular includes the plural and the plural includes the singular.
Prior to initiating a lawsuit or arbitration regarding a legal dispute or claim relating in any way to this Agreement or the Account (as more fully defined in the Arbitration and Class Action Waiver provision, a “Dispute”), the party asserting the claim (the “Claimant”) shall give the other party (the “Defending Party”) written notice of the claim (a “Notice of Dispute”).
Any Notice of Dispute to you shall be sent by mail or email to the address for you maintained in our records. Any Notice of Dispute to us shall be sent by mail to ONE Finance, Inc., Attn: Notice of Dispute, P.O. Box 513717, Los Angeles, CA 90051 (or such other address as we subsequently provide you). Any Notice of Dispute must include: (i) your Account number; and (ii) the Claimant’s name, mailing and email address, and phone number; and (iii) a description of the nature and basis of the Dispute and the specific relief sought. The Notice of Dispute must be personally signed by you if you are the Claimant or by our representative if we are the Claimant. To safeguard your account, if you are represented by an attorney, your Notice of Dispute must also include a signed statement authorizing us to discuss your account and share your confidential account information with your attorney.
Whoever sends the Notice of Dispute must give the other party 60 days after receipt of a fully complete Notice of Dispute to investigate the claim. During that period, either you or we may request an individualized discussion (by phone call or videoconference) regarding settlement (“Informal Settlement Conference”). You and we must work together in good faith to select a mutually agreeable time for the Informal Settlement Conference (which can be after the 60-day period). You and a representative from ONE must personally participate, unless otherwise agreed in writing. Your and our lawyers (if any) also can participate.
Any applicable statute of limitations or contractual limitations period will be tolled for the claims and request relief in the Notice of Dispute during the “Informal Resolution Period,” which is the period between the date a complete Notice of Dispute is received and the later of (i) 60 days later or (ii) the date the Informal Settlement Conference is completed, if timely requested.
A lawsuit or arbitration asserting a Dispute cannot be commenced until after the Informal Resolution Period has ended for that Claim. Section 20(D) has additional requirements for commencing certain coordinated arbitrations. The requirements of this Section are essential so that you and we have a meaningful opportunity to resolve disputes informally. If any aspect of these requirements has not been met, a court can enjoin the filing or prosecution of an arbitration or lawsuit. In addition, unless prohibited by applicable law, the arbitration provider may not accept or administer the arbitration, nor assess fees for such an arbitration.
This Agreement as well as the documents incorporated by reference herein constitute the entire and sole agreement between you and us with respect to the Account and supersedes all prior understandings, arrangements, or agreements, whether written or oral, regarding the Account, provided however that to the extent a customer obtains other products or services offered by us, such as a previously obtained a Credit Line, those products or services may have additional agreements that govern the terms of such product.
Subject to applicable law and at our request, you agree to defend, indemnify, and hold harmless us and our parents, subsidiaries, and other affiliated companies, and our and their employees, contractors, officers, and directors against any and all claims, suits, damages, costs, lawsuits, fines, penalties, liabilities, and expenses (including, without limitation, reasonable attorneys’ fees and court costs) that arise from your violation of this Agreement, applicable law, or any third-party rights or your fraud or willful misconduct. We reserve the right to assume the exclusive defense and control of any matter subject to indemnification by you, in which event you will cooperate in asserting any available defenses.
Except as otherwise expressly provided in this Agreement or as otherwise required by applicable law, we, our affiliates, and the parties with whom we contract in order to offer the ONE Debit Card, the Account, and related services are neither responsible nor liable for any indirect, incidental, consequential, special, exemplary, or punitive damages arising out of or relating in any way to the ONE Debit Card, the Account, any products or services purchased using an Account, or this Agreement (as well as any related or prior agreement that you may have had with us).
WAIVER OF RIGHT TO TRIAL BY JURY - WE (INCLUDING THE BANK AND ONE) AND YOU ACKNOWLEDGE THAT THE RIGHT TO TRIAL BY JURY IS A CONSTITUTIONAL RIGHT BUT MAY BE WAIVED IN CERTAIN CIRCUMSTANCES. TO THE EXTENT PERMITTED BY LAW, YOU AND US (INCLUDING THE BANK AND ONE) KNOWINGLY AND VOLUNTARILY WAIVE ANY RIGHT TO TRIAL BY JURY IN THE EVENT OF LITIGATION ARISING OUT OF OR RELATED TO THIS AGREEMENT OR YOUR RELATIONSHIP WITH ONE OR THE BANK. THIS JURY TRIAL WAIVER SHALL NOT AFFECT OR BE INTERPRETED AS MODIFYING IN ANY FASHION THE ARBITRATION AND CLASS ACTION WAIVER PROVISION SET FORTH IN THE NEXT SECTION, IF APPLICABLE, WHICH CONTAINS ITS OWN SEPARATE JURY TRIAL WAIVER.
THIS ARBITRATION PROVISION AFFECTS YOUR RIGHTS. PLEASE READ IT CAREFULLY BEFORE AGREEING TO THIS AGREEMENT. EXCEPT AS OTHERWISE NOTED, CAPITALIZED TERMS HAVE THE MEANING SPECIFIED IN THIS AGREEMENT.
Except as otherwise explicitly provided in this Arbitration Provision, ONE, the Bank, and any other bank or financial institution with which ONE partners, together with their parent companies, wholly or majority-owned subsidiaries, affiliates, commonly-owned companies, successors, assigns and any of these entities’ employees, officers, directors and agents and their successors, assigns, affiliates and service providers (collectively, the “Transaction Parties”) and you can elect to resolve any past, present or future dispute or claim (“Dispute”) arising from or relating in any way to your Account or this Agreement or the relationships between you and ONE and/or Transaction Parties resulting therefrom, by binding arbitration under the Consumer Arbitration Rules (the “Consumer Rules”) of the American Arbitration Association (“AAA”), rather than in court. (Solely for purposes of this Arbitration Provision, the term Transaction Parties also includes any third party providing any goods and/or services in connection with your Account on behalf of a Transaction Party, if that third party is named as a defendant along with a Transaction Party in a single proceeding.)
Except as otherwise explicitly provided in this Arbitration Provision, “Dispute” broadly includes, without limitation: any claims based in contract, statute, ordinance, tort, fraud, consumer rights, misrepresentation, equity or any other legal theory; initial claims, counterclaims, cross-claims and third-party claims; federal, state and local claims; and claims which arose before the date of your application for an Account, including, but not limited to, any dispute or claim arising before the date you opened an Account or accepted this Agreement.
The Federal Arbitration Act (“FAA”) and federal arbitration law apply to this Arbitration Provision. There is no judge or jury in arbitration and court review of an arbitration award is limited, but an arbitrator can award an individual the same damages and relief as a court in an individual case and must apply and follow applicable substantive law, consistent with the FAA, and the terms of this Agreement, the ONE Terms of Service and any agreement governing a product or service provided by ONE. The arbitrator shall apply applicable statutes of limitations and honor privilege rules. As in court, the arbitrator can impose sanctions on any represented party or counsel permitted under AAA Rules, Federal Rule of Civil Procedure 11(b), or other applicable federal or state law. Any judgment on the award rendered by the arbitrator will be final and may be entered in any court of competent jurisdiction. No arbitration award involving the parties will have any preclusive effect as to issues or claims in any dispute involving anyone who is not a party to the arbitration, nor will an arbitration award in prior disputes involving other parties have preclusive effect in an arbitration between the parties to this Arbitration Provision.
YOU UNDERSTAND THAT ABSENT YOUR CONSENT TO ARBITRATION, YOU WOULD HAVE THE RIGHT TO SUE IN COURT AND HAVE A TRIAL BY JURY.
Either you or a Transaction Party can initiate arbitration. Regardless of who elected arbitration or how arbitration was elected (such as by filing a motion to compel arbitration in court), the party asserting the claim (i.e., the party seeking money damages or other relief from a court or an arbitrator) is responsible for starting the arbitration proceeding, as well as completing the procedures set forth in paragraph 19.i. If the AAA cannot or will not administer the arbitration in accordance with this Arbitration Provision, another administrator will be selected by agreement of the parties or, if there is no agreement, by a court with jurisdiction. Any arbitration administered by the AAA will be governed by the Consumer Rules in effect on the date the arbitration is filed, and the AAA’s Procedures for the Resolution of Disputes through Document Submission (“Document Submission Procedures”). (For more information about the AAA and its rules, you may contact the AAA at American Arbitration Association, 120 Broadway, Floor 21, New York, N.Y 10271, 1-800-778-7879, www.adr.org). The Document Submission Procedures are included in the Consumer Rules. Your arbitration filing fees will be governed by the Consumer Rules. If it is determined by the arbitrator that you cannot afford such fees and AAA does not waive them (after you have submitted any necessary information to request waiver), a Transaction Party will pay all arbitration administrative and arbitrator fees and expenses.
The arbitration may be conducted solely based on written submissions, by telephone or videoconference, or by in-person hearing, as the arbitrator deems appropriate.
You and the Transaction Parties agree that any Disputes seeking to enforce or protect, or concerning the validity of intellectual property rights will not be subject to binding arbitration under this Arbitration Provision. In addition, any party may proceed with their individual claims in small claims court if that option is available in the applicable jurisdiction and the amount in controversy falls within the small claims court’s jurisdictional limits; but if that action is transferred, removed or appealed to a different court, arbitration can be elected.
Even if all parties have opted to litigate a Dispute in court, a party may elect arbitration with respect to any claim made by a new party or any claim later asserted by a party in that or any related or unrelated lawsuit (including a claim initially asserted on an individual basis but modified to be asserted on a class, representative or multi-party basis). Nothing in that litigation shall constitute a waiver of any rights under this Arbitration Provision.
Notwithstanding any of the foregoing, disputes or controversies about the validity, enforceability, coverage or scope of this Arbitration Provision or any part thereof are for a court and not an arbitrator to decide; however, disputes or controversies about your Account, this Agreement, the ONE Terms of Service or your agreements governing any product or service provided by ONE or with Transaction Parties as a whole are for an arbitrator and not a court to decide. Courts also can decide any disputes or controversies about the validity, enforceability, coverage or scope of Section 19(J) and its requirements.
You and the Transaction Parties each agree that any arbitration will be conducted only on an individual basis and not as a class, consolidated or representative action. To the fullest extent permitted by law: (a) no arbitration will be joined or consolidated with any other (except for multiple arbitrations pertaining to the same Account); (b) there is no right or authority for any Dispute to be arbitrated on a class-action or private attorney general basis or to utilize class action procedures; and (c) there is no right or authority for any Dispute to be brought in a purported representative capacity on behalf of the general public or any other persons. No arbitrator shall have the authority to issue any relief that applies to any person or entity other than Transaction Parties and/or you individually.
If any portion of the Arbitration Provision is inconsistent with the Consumer Rules, with this Agreement, or with the ONE Terms of Service or any other agreements governing any product or service provided by ONE or with Transaction Parties, this Arbitration Provision shall govern. This Arbitration Provision shall survive the closure of your Account, termination of any product or service provided by ONE, termination of any agreement into which you enter with a Transaction Party, and any withdrawal or denial of or determination on any application for an Account; and further, you understand and agree that this Arbitration Provision applies not only to the ONE Terms of Service and this Agreement but also to any subsequent agreement (including without limitation any agreement governing any product or service) into which you enter with a Transaction Party.
If any portion of this Arbitration Provision is deemed invalid or unenforceable, it shall not invalidate the remaining portions of this Arbitration Provision, except that:
If 25 or more claimants submit similar Notices of Dispute or file similar arbitrations and are represented by the same or coordinated counsel (regardless of whether the cases are pursued simultaneously), all of the cases must be resolved in staged proceedings. You agree to this process even though it might delay the arbitration of your claim. In the first stage, claimants’ counsel and ONE will each select up to 25 cases (50 cases total) to be filed in arbitration and resolved individually by separate arbitrators (if there are fewer than 50 cases, claimants’ counsel and ONE will each select up to half of the total number of cases). If feasible, arbitrators will be from the respective claimants’ home states. In the meantime, no other cases may be filed or proceed in arbitration. Nor may the AAA accept, administer, or demand payment for fees for other arbitrations; provided, however, that the preceding two sentences shall not apply to any claimant not associated with or represented by the same or coordinated counsel. After the first stage is completed, the parties shall engage in a single mediation of all remaining cases, and ONE shall pay the mediation fee. If the parties cannot agree how to resolve all of the remaining cases after the mediation, the parties will repeat the process of filing up to 50 cases to be resolved individually by separate arbitrators, followed by mediation. If any claims remain after the second stage, the process will be repeated until all cases are resolved, with four differences. First, a total of 100 cases may be filed in the third and later stages. Second, the cases will be randomly selected. Third, arbitrators who decided cases in the first two stages may be appointed in later stages if different arbitrators are not available. Fourth, mediation is optional at the election of claimants’ counsel. If this subsection applies to a Notice of Dispute, any statute of limitations or contractual limitations period applicable to the listed claims and requests for relief will be tolled from the time the first cases are selected for bellwether proceedings until the claimant’s Notice of Dispute is selected for a staged proceeding, withdrawn, or otherwise resolved. A court will have the authority to enforce this Section, including the power to enjoin the filing or prosecution of arbitrations or assessment or collection of related fees. If there is a final judicial determination that the staging process in this subsection is not enforceable, then the cases may be filed in arbitration, but the payment of AAA and arbitrator fees will be assessed as arbitrations advance and arbitrators are appointed rather than when the arbitrations are initiated.
If you do not want this Arbitration Provision and Class Action Waiver to apply, you must contact us through the methods set forth in Section 2.a within 30 calendar days of the date on which you electronically sign this Agreement to open your Account. To opt out, you must send to ONE your name, mailing and email address, phone number, and a statement personally signed or electronically signed by you that you want to opt out of arbitration. Opting out will not affect the other provisions of this Agreement, the ONE Terms or any other agreement governing a product or service provided by ONE or with a Transaction Party. If you do not opt out, you will be bound by this Arbitration Provision and Class Action Waiver in this Agreement, the ONE Terms and any other agreement governing a product or service provided by ONE or with a Transaction Party.
The Internal Revenue Service (IRS) requires us to confirm your tax status. If you are subject to backup withholding, you cannot continue to open an account online and must call us at 855-830-6200. Under penalties of perjury, I certify that:
The Internal Revenue Service does not require your consent to any provision of this document other than the certifications required to avoid backup withholding. |
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ONE DEMAND DEPOSIT ACCOUNT RATES AND FEES
Effective as of March 25, 2024
Annual Percentage Yield (“APY”) and Interest Rate:
Debit Section | 0.00% APY | 0.00% Interest Rate | (Non-Interest Bearing) |
Savings Pockets (including Custom User-Generated Pockets) | 5.00% APY 1.00% APY | 4.89% Interest Rate 1.00% Interest Rate | For Plus Customers and/or customers who have a total daily account balance of $5,000* or more, on total Savings balances up to $250,000** All other Savings Deposits** |
Pay Autosave Pocket, Auto-Save*** and ONE@Work Save Pocket | 5.00% APY 1.00% APY | 4.89% Interest Rate 1.00% Interest Rate | On total Savings balances up to $250,000**
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* Total daily account balance means the sum of the balances in the Debit and Savings Sections. This balance is determined at the end of the day (11:59 PT) and determines the APY for the current day.
** Users may only earn 5.00% APY (4.89% Interest Rate) on Savings balances (the Savings balance on the Savings Section, which is the sum of your Primary Savings Pocket, any custom user-generated pockets, and any Pay Autosave, Auto-Save and ONE@Work Save Pockets) up to $250,000. Savings balances above this threshold will earn 1.00% APY (1.00% Interest Rate). For Accounts with a Savings balance over $250,000, an APY will be calculated to reflect APY tiers, which will be applied to all Savings balances.
*** Only users who had a positive Auto-Save pocket balance on August 8, 2022 and have maintained a balance in that pocket are eligible to have an Auto-Save Pocket.
Interest Rate and APY are variable and may change at any time without notice at our discretion. Interest accrues daily and is credited monthly. Interest is calculated using the daily balance method, which applies a daily periodic rate to the Pocket principal each day. Interest begins to accrue the Business Day after the Deposit Date. If an Account or Pocket is closed, we do not pay any additional interest on that Account or Pocket, including any accrued interest that has not yet been credited.
There is no minimum balance required to open an Account or Pocket or obtain the APY disclosed for each Pocket. There are no limits on the number of withdrawals per month from your Account.
Fee Schedule:
Monthly Fee | $0 |
Overdraft Fee | $0 |
ONE ATM Fee (Use of ATMs may incur fees charged by the ATM providers. International ATM withdrawals may be subject to foreign transaction fees.) | $0 (for Plus Customers at AllPoint Network ATMs* ) $3.00 (for all other ATM withdrawals) |
Over the Counter (OTC) Withdrawal Fee | $0 (for Plus Customers) $3.00 (for non Plus Customers) |
Barcode Cash Fee (Withdraw Cash at Walmart) | $0 (for Plus Customers) $3.00 (for non Plus Customers) |
Mail a Check Fee | $0 (for Plus Customers) $3.00 (for non Plus Customers) |
Bill Pay Fee (for each bill paid through the Bill Pay feature, powered by Papaya Pay) | $0 (for Plus Customers) $3.00 (for non Plus Customers) |
Bank transfer to a linked account via Debit OCT (Instant Transfer) Fee | 1.75% of the transaction amount (minimum fee of $0.25 per transaction) |
ONE Debit Card Replacement Fee | $0 (for Plus Customers) $3.00 (for non Plus Customers) |
* AllPoint Network ATM locations can be found in the ONE App.
ONE Retail Card Fee Supplemental Schedule:
ONE Retail Card Purchase Fee* | $1.00 |
*This is a one-time fee for the purchase of a ONE Retail Card at a retail location. This fee is collected at the point of sale by the retail location and is not deducted from your Account and will not be reflected in your monthly statement or transaction history.
Your ONE Account is FDIC-insured through our banking provider, Coastal Community Bank, Member FDIC. Deposits are insured up to $250,000 per depositor.
ONE RETAIL CARD PURCHASE & LIMITED-USE PRODUCT
We may make available ONE Retail Cards for purchase in certain retail locations.
The ONE Retail Card cannot be replaced if lost, stolen or damaged.
[1] https://www.federalreserve.gov/aboutthefed/k8.htm