OnePay: who holds your money

OnePay's disclosure, read on September 5, 2026, describes FDIC pass-through coverage, deposit insurance through partner banks. Coverage depends on customer identification and recordkeeping. It protects eligible deposits when a partner bank closes, not the app company itself. An app closure does not trigger that protection. The visible disclosure and notes provide the programme’s specific conditions.

Current commentary

OnePay is not a chartered bank, so customer money sits at 2 partner banks: Coastal Community Bank and Lead Bank. Each bank has letter C on this site, a grade comparing it with banks of similar size. Federal deposit insurance reaches customers through those banks, provided OnePay’s records identify each customer. The limit is $250,000 per depositor, per insured bank, for each account ownership category. This information reflects OnePay’s disclosure read on September 5, 2026.