ONE@Work (formerly Even) is a financial wellness app designed as an employer-provided benefit, primarily helping employees manage their earnings and avoid financial shortfalls between paychecks. It offers tools for early wage access, saving, and budgeting, aiming to provide greater financial stability for its users.
What is ONE@Work (formerly Even)?
ONE@Work (formerly Even) is a specialized financial application. Its core purpose is to help workers at participating companies manage their cash flow by providing access to earned wages before the official payday. The app targets hourly and salaried employees whose employers have partnered with the platform, offering them tools for budgeting and saving directly linked to their payroll.
Why Should You Use ONE@Work (formerly Even)?
Users choose this platform to gain more control over their finances between pay periods. It can help mitigate the stress of unexpected expenses by providing early access to earned income. The primary advantages include avoiding high-interest payday loans, automating savings, and simplifying personal budgeting.
Key Features of ONE@Work (formerly Even)
Instapay: Allows users to access a portion of their net earned wages before their scheduled payday.
Paycheck Tracking: Enables users to view their work schedule and track estimated earnings per shift and per pay period.
Automatic Savings: Users can set a percentage of their paycheck to be automatically transferred to a savings account.
Budgeting Tool: Connects to a user’s bank account to help calculate a safe-to-spend amount, preventing overdrafts.
Additional Features
Employer-Provided: The app is exclusively available as a benefit through a user’s employer, ensuring integration with official payroll systems.
FDIC Insurance: Funds saved through the app’s savings feature are held in accounts at partner banks, which are members of the FDIC.
How to Download and Install ONE@Work (formerly Even)
1. Check with your employer’s HR department to confirm they offer ONE@Work (formerly Even) as a benefit.
2. On your mobile device, open the official Apple App Store or Google Play Store.
3. Search for “ONE@Work”.
4. Tap “Install” or “Get” to download and install the application onto your device.
How to Use ONE@Work (formerly Even)
1. Open the app and register using your work email or other employer-provided credentials.
2. Follow the on-screen prompts to securely connect the app to your employer’s payroll system.
3. To use Instapay, navigate to the feature and select the amount of earned wages you wish to transfer early.
4. Set up automatic savings by choosing your desired savings percentage within the app’s settings.
Advantages and Disadvantages
Pros
The interface is straightforward and user-friendly.
It provides a valuable service for managing cash flow emergencies.
The automatic savings feature promotes consistent financial habits.
Cons
Availability is entirely dependent on an employer’s participation.
Instapay amounts are limited to a user’s already earned wages.
Some features, like Instapay, may not be available in all states or for all employers.
Is ONE@Work (formerly Even) Safe to Use?
Yes, ONE@Work (formerly Even) employs standard security measures like encryption to protect user data. The app requires permissions to access payroll information to provide its core services. Savings accounts are held with FDIC-member partner banks, insuring funds up to the legal limit.
Compatible Apps or Tools
The primary compatibility is with an employer’s specific payroll and Human Resources management software (e.g., Workday, SAP SuccessFactors). It also connects seamlessly with most major consumer banking apps for its budgeting functionality.
FAQs
Is there a fee to use Instapay?
Typically, there are no fees for using the Instapay service, but users should always confirm the current terms with their specific employer’s program.
Can I use ONE@Work if I change jobs?
No, access to ONE@Work (formerly Even) is tied to your current employer. If you change companies, you will lose access unless your new employer also offers the benefit.
How quickly are Instapay funds available?
Transfers are usually processed quickly, often allowing for same-day access to funds, depending on the user’s bank.
Conclusion
ONE@Work (formerly Even) is a practical tool for employees seeking more flexibility and control over their finances. Its effectiveness is directly linked to an employer’s partnership with the service. If your company offers it, this app can be a valuable component of your financial strategy.
