Finances

Innovative banking services solutions lead to better financial management

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This guide outlines the benefits of new approaches that are leading to innovative banking services.

Organizing, budgeting, saving, and managing money sounds simple on the surface, but most people would agree that it’s not an easy process. Incorporating financial management practices is even more challenging if you have multiple bank accounts, income streams, expenses, and savings goals.

These things can be nerve-wracking and require a level of financial literacy, maturity, patience, and discipline that many people don’t develop until they’re well into adulthood. 

Banking services can be simpler

What if there were a way to simplify the banking services products and processes and ease your frustrations? Believe it or not, there is. With innovative banking services such as ONE, you can reduce your stress and take confidence in your finances.  

ONE is a financial agency that offers digital banking services products. It’s a one-stop shop for all your banking, budgeting, and saving needs. ONE customers have access to resources ranging from free checking and mobile check deposits to Pockets and high-yield savings to assist them in getting their finances in order.

Why choose digital banking services?

There are thousands of physical and online banks at your disposal. So, what makes ONE so unique? Continue reading to learn how their products and services can help simplify your money and life. 

Zero-Hassle Free Checking

Joining ONE is easy. You can sign-up for a free account on the company website or download the mobile app. Complete the required fields, submit a state-issued ID, and you’re ready to go. There’s no need to worry about application fees, minimum deposit requirements, monthly maintenance fees, insufficient funds, ATM charges, or hidden fees. 

Funding your ONE account is simple. You can set up direct deposit, transfer money from another account, and wire transfers. Customers can also add money to their accounts using CashApp, PayPal, Venmo, etc. 

Get Organized With Pockets

Before modern banking, there was a time when people used the envelope system to keep their money organized. This manual exercise would include gathering paper envelopes and assigning spending categories to each. Then, people would place money in each envelope to cover monthly expenses.

While it’s an effective way to stay on top of your finances, reduce debt, and avoid overspending it’s also extremely tedious and time-consuming. 

ONE has digitized the envelope system with Pockets. These are sub-accounts linked to your checking. Customers automatically receive a Spend and Save Pocket but can customize as many Pockets as they’d like (up to 99) to coincide with their budgets and spending habits (i.e., utilities, health insurance, vacation, tuition, emergencies, etc.). Customers also can share Pockets with family members, friends, or other authorized users. 

Once you’ve categorized your Pockets, you can transfer money from your checking and use your ONE card to complete transactions and pay bills from the designated Pocket. With features like Pocket Protector, you’ll never have to worry about insufficient funds. For example, if you’ve allotted $200 for groceries, but you actually end up spending $250, Pocket Protector will transfer $50 from your Spend account to cover the costs. 

Save More With High-Yield Interest Accounts

Traditional banks offer an average of 0.6% APY. While any interest is better than none, ONE provides more. Customers who deposit money into their Save Pocket can earn 1.00% APY, so that you can reach your savings goals faster. 

As if that isn’t enough, ONE also offers other ways for customers to save money. Accountholders with direct deposit can transfer up to 10% of their income into an Auto-Save Pocket and earn 3.00% APY. ONE’s card Auto-Save feature helps make every penny count. Anytime you use your card, the total is rounded up to the nearest dollar, and the change is placed in your Auto-Save pocket at 3.00% APY. 

Most banks cater to customers with sizeable income, assets, and investments. ONE realizes that everyone’s financial situation is different, which makes their banking products and services unique. By offering resources that streamline financial management practices like organization, budgeting, and saving, ONE helps customers simplify their lives and achieve financial wellness. If money management isn’t your strong suit, consider ONE as an answer to your problems. 

About Business Woman Media

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