Savings Backup and Fee-Free Overdraft Protection

What is Savings Backup?#

Savings Backup moves available funds from your primary Savings balance when your Spend balance is insufficient to cover a transaction. If enabled, Savings Backup covers OnePay Debit Card and Builder Card purchases (including OnePay Wallet purchases with your OnePay Debit Card or Builder Card), ATM withdrawals, and ACH transfers initiated from external bank accounts. There are no fees or interest charges to use Savings Backup. Savings Backup can be turned on or off in Savings Backup & Fee-Free Overdraft settings from the OnePay Cash screen.

How do I use Savings Backup?#

If Savings Backup is enabled and you make a purchase using your OnePay Debit Card or another covered transaction without sufficient funds to complete it in your Spend balance, Savings Backup will automatically move available funds from your primary Savings balance to cover the transaction. If the underlying purchase is pending, Savings Backup will hold the available funds in your primary Savings balance until the transaction posts, then the funds will be moved.

Savings Backup is available to all OnePay Cash customers and is automatically enabled for newly onboarded OnePay Cash customers.

How do I turn Savings Backup on or off?#

You can turn Savings Backup on or off by following the steps:

Select OnePay Cash
Tap to access OnePay Cash Settings
Select Savings Backup & Overdraft
Toggle Savings Backup OFF/ON

Is there a Savings Backup limit?#

Savings Backup will cover transactions up to your available balance in your primary Savings. If there are insufficient funds in both your Spend balance and primary Savings balance, transactions will be declined unless you have Fee-Free Overdraft Protection enabled with a sufficient limit.

Does OnePay offer Fee-Free Overdraft Protection? What is Fee-Free Overdraft?#

Yes, OnePay offers Fee-Free Overdraft Protection to OnePay Cash+ customers who are 18+ years old. Fee-Free Overdraft Protection (up to the available limit) allows you to complete a transaction even if your Spend balance is insufficient. Fee-Free Overdraft Protection is automatically enabled for customers who gain OnePay Cash+ benefits.

There are no fees or interest charged to use Fee-Free Overdraft Protection, but any funds covered by Fee-Free Overdraft Protection are due right away and will automatically be repaid the next time money is added to your Spend balance. If the negative balance is not paid, funds may be transferred automatically from another pocket with a positive balance to cover the negative balance. Additionally, you may also no longer be eligible for future products and features offered by OnePay.

Transactions eligible for Fee-Free Overdraft Protection are at the discretion of OnePay and may exclude certain transactions (e.g. Bill Pay, Global Transfers and peer-to-peer transfers like Venmo, Cash App and PayPal).

How can I get Overdraft Protection?#

All customers who qualify for OnePay Cash+ benefits are eligible for Fee-Free Overdraft Protection. If you are eligible, Fee-Free Overdraft Protection will automatically be turned on for your account.

You can turn Fee-Free Overdraft Protection on or off at any time:

Tap on OnePay Cash in the OnePay app then Settings in the upper right-hand corner
Select Fee-Free Overdraft Protection
Turn Fee-Free Overdraft Protection OFF/ON

You can also tap here to turn Fee-Free Overdraft Protection ON or OFF in the OnePay app.

If you no longer receive OnePay Cash+ benefits, you will no longer be eligible for Fee-Free Overdraft protection until you meet the requirements again.

What is my Overdraft limit?#

Once you qualify for OnePay Cash+ benefits, you will be eligible for Fee-Free Overdraft Protection and can see your limit in the OnePay app. Your Fee-Free Overdraft limit may increase over time if you continue to qualify for OnePay Cash+ benefits. Fee-Free Overdraft limits are assigned and updated automatically; we cannot increase or decrease your Fee-Free Overdraft Protection limit at your request.

To locate your current Fee-Free Overdraft Protection limit in the OnePay app, tap here. If you are eligible for Fee-Free Overdraft, you will see your limit in the Fee-Free Overdraft section of the menu. If you are no longer eligible for OnePay Cash+ benefits, Fee-Free Overdraft Protection will be disabled.

Read the full terms of Fee-Free Overdraft Protection in our Deposit Account Agreement.

Will Overdraft Protection work with my OnePay Wallet transactions?#

If enabled, Fee-Free Overdraft Protection will kick in when using your OnePay Debit Card or Builder Card for OnePay Wallet transactions that would bring your available balance below $0.

Do Savings Backup and Fee-Free Overdraft Protection work together?#

Yes. OnePay Cash+ customers can have both Savings Backup and Fee-Free Overdraft Protection enabled. If you have both features turned on and a transaction is greater than your Spend balance, Savings Backup will be used first. Fee-Free Overdraft Protection (up to the available limit) will be used to cover the transaction once the Savings balance is exhausted.