Checking, Savings, and Goals

What are the differences between Checking, Savings, and goals?#

When you open a OnePay deposit account, you will automatically have a Checking and a Savings section to hold your funds.  The Checking section of your account is connected to your OnePay card and is designed to hold funds that you will be spending soon. Money in your Checking section does not accrue interest. 

The Savings section of your OnePay deposit account is a place to keep funds you want to save and do not plan to spend in the near term. Money in your Savings section will earn interest. 

In your Savings section, you will have a Primary Savings with your first name on it, and if enrolled, a Pay Autosave or @Work Save. You can also create up to three goals to help track your savings progress.

Money in your Savings section may earn up to 3.35% Annual Percentage Yield (APY). 

How do I create a goal?#

To create a goal:

• Open the OnePay app and tap Checking or Savings

• Tap Savings and then select Set a goal 

If you already have 3 goals set up, you won’t see an option to set a goal unless you delete one of your existing goals.

How many goals can I have?#

You can set up to three (3) goals in your custom savings pockets.

What can my teen do with Checking and Savings?#

If you add a teen as an authorized user to your OnePay deposit account, your teen will have access to their own separate Checking section and Savings section. Each section has its own account and routing number.

Checking

Your teen can use Checking to:

• Make purchases with their Builder Card

• Receive direct deposits and allowances from their parent

• Withdraw cash from ATMs, if enabled by their parent

• Transfer money to Savings

• One to One transfers

Savings

Your teen can use Savings to:

• Save money

• Receive transfers from their parent

• Transfer money to Checking

Rewards

Eligible Builder Card purchases may earn OnePay Rewards. Rewards can be redeemed according to the current OnePay Rewards program.

Parent oversight

The parent or legal guardian remains the account owner and can view account activity, transfer money, set spending controls, and manage account settings.