One
Walmart's play to own everyday banking for its 150M weekly shoppers; BNPL + debit + high-yield savings in one app.
Walmart-backed; embedded retail banking.
- Who holds it
- A sponsor bank behind the brand — not the app you signed up with — Partner bank (Coastal Community).
- The ledger
- Split between a program manager and the sponsor bank — the modular setup that broke in Synapse.
- If it fails
- Any claim runs through the sponsor bank, and only works if the two ledgers reconcile.
Derived from One’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional |
| HQ | Sacramento, US |
| Founded | 2019 |
| Custody | Custodial |
| Regulation type | Partner-bank model |
| License detail | Partner bank (Coastal Community) |
| Card | Visa · Debit |
| Cashback | Up to 3% (Walmart) |
| Yield | ~4% APY savings |
| Stablecoins | No |
| KYC | Yes |
| Active regions | North America |
| Countries | United States |
| Founders | Walmart x Ribbit venture |
| Funding | Walmart-majority |
Verified links: official site ↗ · terms ↗ · privacy ↗ · @one ↗
Common questions about One
What is One?
One is a fiat neobank, headquartered in Sacramento, US and founded in 2019. Your money is held custodially, so One or its partner bank holds the balance and you hold a claim on it. It operates on a partner-bank model (Partner bank (Coastal Community)).
Does One have a card, and where can you use it?
It issues a Visa debit card. It is available in North America.
Does One require KYC?
Yes. One requires identity verification (KYC) to open an account, as a partner-bank model.
What does One cost?
From the verified fields: cashback Up to 3% (Walmart); yield ~4% APY savings. Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with One before relying on them.
Early investors
Head-to-head
Peers
Chime · Wise · Varo · Current · SoFi · Ally Bank
One appears in
Neobanks running on someone else’s banking license (81) · Neobanks available in North America (126) · Neobanks that issue a Visa card (182) · Neobanks in United States (66)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.