One is a financial app built by Standard Economics. It isn't a bank.
What that means for your money
One works with regulated local partners, including Coins.ph, to add and withdraw money on your behalf — using QR Ph, GCash, Maya, InstaPay, and PESONet to add money and GCash, Maya, and InstaPay to withdraw it; the app shows the options for your account. Your balance and your savings are held in US dollars, and the app shows you their peso value at today's exchange rate.
Balance Protection
Balance Protection is our reimbursement program for security breaches and technology failures affecting One's own systems: if one of those causes an eligible loss, it's designed to put the money back, for eligible customers and subject to its terms. Reimbursement isn't guaranteed. It doesn't cover payments you approved yourself, or losses from sharing your OTP, PIN or password with someone else. Balance Protection is not insurance and not a government-backed deposit guarantee. Tap Savings Protection on your Savings screen to read how Balance Protection works and its full terms.