OnePay Cash

OnePay Cash is the deposit account inside the OnePay app, the Walmart-linked money app that used to be branded One. It is one account with two sides: a Checking section that holds your spending money and pays 0.00% APY, and Savings pockets that pay 3.35% APY as of the rate sheet effective October 13, 2026. OnePay is a financial technology company, not a bank, so the account itself sits at Coastal Community Bank or Lead Bank, both Members FDIC, with pass-through insurance up to $250,000 per depositor. The headline numbers are all on the fee side. There is no monthly fee, no minimum to open, and no minimum balance to earn the disclosed APY. Withdrawals at Allpoint ATMs are free; anywhere else OnePay charges a $3.00 Cash Out fee on top of whatever the machine operator adds. Direct deposit gets you paid up to two days early, and accounts that receive $500 or more in direct deposits in the current or previous month unlock up to $200 of Fee-Free Overdraft, with an optional Savings Backup that pulls from savings before the overdraft line is touched. Any overdrawn amount is due right away and is swept up by your next deposit. The debit card rewards are real but small. Each month you pick one category, Walmart, gas, or dining, and earn 3% cash back on up to $150 of spending in it, which caps the benefit at $4.50 a month, roughly $54 a year if you never forget to make the selection. Past the $150 cap you drop to 1 point per $10 spent. Rewards arrive as OnePay Points that you redeem back into the account, and you have to reselect your category every month or you earn nothing on it. The fine print worth knowing: the Checking section pays nothing, so idle cash needs to be moved into a Savings pocket manually or through Pay Autosave to earn anything. The 3.35% APY is variable and OnePay can change it without notice. Instant transfers out to a linked account cost 1.75% of the amount, minimum $0.25, and a OnePay Advance carries a fee of 3% of the advance, or 5% for accounts opened after August 20, 2026. There are no joint accounts and no authorized signers, and a checkbook may be orderable in the OnePay app for a $15 per checkbook fee. This account fits people who are already in Walmart's orbit, want a single app for spending, saving, and small rewards, and can route a paycheck in to switch on the overdraft cushion. Skip it if you need a joint account, write paper checks often, use cash-heavy or out-of-network ATMs often, or want interest on your checking balance without moving money between checking and savings. Heavy debit spenders will find the $150 monthly category cap limiting.