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Personal Finance

Everything You Need to Know: New ONE VIP Card

In the reoccurring awakening of the social justice movement and repercussions of COVID-19 hitting the U.S., Black Americans across the diaspora became more interested in financial literacy. Whether it was paying closer attention to their paystubs, stocks, and even the irregular financial aid distributed by the government, it was evident that Urban One launched their newest endeavor, a financial service, ONE VIP, at no better time.

ONE VIP is a prepaid Visa debit card accompanied by a loyalty program and mobile app with the Black and Brown consumer in mind. Cardholders can access their account information by desktop or ONE VIP’s mobile app. Both platforms allow the cardholder to view, manage, and track their everyday spending. Cardholders can also set up direct deposits for their jobs and pensions and transfer funds from other accounts to their ONE VIP account.

Here are the top five benefits when joining the ONE VIP Digital Banking family.

  1. NO HIDDEN FEES OR CREDIT CHECKS.  ONE VIP does not require a credit check for their applicants. Applicants 18 and older can easily apply for a debit card. Also, there are zero hidden fees when using the #ONEVIPBLACK card. However, there is a monthly fee of $4.95 and usual ATM fees.
  1. LOYALTY PROGRAM. Cardholders can take advantage of #ONEVIPBLACK card cashback rewards. For every $1 spent, cardholders can earn up to $2 cashback points back by purchasing with select retailers, entertainment subscriptions, and Black-owned businesses. 
  1. DIRECT DEPOSIT/TRANSFER FUNDS. Cardholders who have access to their account and routing number can easily set up their direct deposit for their job or pensions. With the same information, cardholders can transfer funds from their primary accounts onto their #ONEVIPBLACK card.
  1. SUPPORT BLACK BUSINESSES/DONATE TO BACK-FOCUSED ORGANIZATIONS. ONE VIP chose 25 Black-owned businesses where the cardholder can specifically earn their cashback rewards. Cardholders can either hold on to their points or donate to the Urban One Community Works. U1CW will use the donations to support selected charities supporting people of color, such as The Innocence Project for criminal justice reform, the National Black Justice Coalition serving LGBTQ/SGL communities, Howard University, and the Tom Joyner Foundation serving the HBCU students nationwide.
  1. MOBILE APP. #ONEVIPBLACK mobile app allows 24/7 access to your money! Cardholder can set up their direct deposit, transfer funds, and make online purchases.

As a part of the trusted Urban One legacy brand, ONE VIP aim to create a safe financial space for Black American. ONE VIP’s goal is to recirculate Black dollars within the Black community.

Apply today and download the mobile app.

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Personal Finance

Get Paid Early?

In an economic climate where cash is fading away, and digital banking is becoming more prevalent, knowing how to navigate your available funds is the key to your financial success. 

A part of URBAN ONE, arguably the most prominent black-owned media company, ONE VIP creates a financial equality tool to support Black Americans. Launching in October 2020, ONE VIP has pushed the economic playing field for Black Americans by simplifying everyday money matters and make life more rewarding.

ONE VIP is known for being a member-centric company, with their most recent product enhancement is the upgraded direct deposit feature giving customers early access to their paychecks and benefit checks.

Direct deposit is the easiest and fastest way to gain access to your paycheck or government benefits, and ONE VIP has made this process even faster with their early direct deposit feature.

ONE VIP members could effectively gain access to their pay or benefit checks up to two days early.** That means, if payday is Friday, members could get paid as early as Wednesday!

Plain and simple, who doesn’t want faster access to their money? Having your cash sooner is always convenient if you live paycheck to paycheck or have a big bill coming up.

Getting direct deposit also alleviates having to go to a retail location to cash a check. Not only is ONE VIP’s newest feature convenient, but it is also added layer of security to keep your money safe and secure.

Find out if the ONE VIP Visa Debit Card is the card for you at https://onevip.com/.

** Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available when the payment file is received, up to 2 days earlier than the scheduled payment date.

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Big Life Moments Investing Personal Finance

Black Culture & Banks

‘Banking Black’ is gaining popularity after years of systematic issues directly related to ethnicity and traditional banking services. Several instances of systematic racism cited over the last few years have led companies like URBAN ONE to take action. 

URBAN ONE, the nation’s most prominent Black-owned Media Company, has been the voice of Black America for over the last 40 years, launched the ONE VIP Visa Debit Card to further the #BankBlack movement.

ONE VIP is a digital banking card focused on furthering Black America’s prosperity and communities of color. ONE VIP has made it very easy to get started with digital banking, requiring no deposits, up-front fees, or credit checks.

Members who choose to bank with Black-owned companies, like ONE VIP, do so because the social impact is essential. URBAN ONE and ONE VIP are well known for their corporate social responsibility through their Urban One Community Works program. ONE VIP partners with Visa to promote financial literacy content to help bring prosperity to Black families and communities.

Banking with Black-Owned Companies offers an alternative to discriminatory practices contributing to distrust of the financial services industry. There are plenty of statistics that support the notion of Black applicants being charged more with financial services products, so banks’ skepticism is not unwarranted. By turning to Black-Owned financial solutions, Black Americans are keeping Black Dollars in Black Communities. This can translate into increased employment and job creation opportunities.

Why are customers switching to Black-Owned Financial Service companies? Being treated with dignity and respect immediately comes to mind, but Black-Owned Financial Service companies, like ONE VIP, align with the core values of Black America. ONE VIP was created to positively impact black communities and black businesses.

Shutting Black Americans out of traditional banking has led to migration towards #BankBlack and the numerous benefits to black communities and businesses. To learn more about ONE VIP, visit https://onevip.com.

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Personal Finance

COVID & Cash: What You Need to Know.

COVID has literally turned our worlds upside down, and there are no signs of the virus taking a discourse. Most of America saw significant changes in our communities, including businesses closing, job losses, remote education, and so much more to name. The world is resilient, and we are determined to bounce back….. but we all must admit, things are different. 

As the world began to re-open, most of us found ourselves interacting with “it” differently and vice versa. We also saw restaurants fill only half capacity, X’s marked on every store floor indicating the required six feet distance, and mandated lower face covered masks became some of our new normal.  

But what happened to the United States cash supply? Some retailers and restaurants completely stopped accepting cash, indicating a shortage of money. While others made it clear that they would not give cash back towards debit card purchases.

There are many reasons why this is happening, but one thing is sure, cash transactions are slowing down and will likely make it more difficult to make purchases. But what does this mean to you? If you rely heavily on cash to make purchases, pay rent, and other necessities, it’s time to think about an alternate solution.

Many who mainly rely on cash are turning to digital banking solutions like ONE VIP.  ONE VIP is a neo-banking service that provides a Visa Debit Card and mobile app for convenient and easy money management. Unlike a traditional bank, there are never overdraft fees or hidden fees.  ONE VIP is not a credit card, so there is no credit check.  

If you primarily deal in a cash environment, you might want to consider transitioning to digital banking.  There are few easy ways to do so! Why continue to pay to cash your pay or benefits checks when you could simply sign up for a direct deposit for free! Plus, with ONE VIP direct deposit, you can get paid up to 2 days faster! If your earnings come to you in cash, you can simply use Visa’s ReadyLink Locator to find a retailer near you to have your money loaded to your ONE VIP account.

Bottom line: Cash is phasing out, and getting familiar with a digital solution is definitely something to consider.  ONE VIP is a great solution and open to anyone 18+ with a USA mailing address and valid identity. Learn more about ONE VIP at onevip.com.

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Personal Finance

Spending Within Your Means

Spending within your means may sound like a simple rule to follow, but many Americans spend more than they save, which can result in debt. The good news is that it’s completely avoidable, and it’s reversible over time. With a little planning, tracking and adjusting your spending, you can live happily within your means.

For a stronger financial future, here are a few tactics to start living within your means and building better spending habits.

Create a budget.
Making a budget simply means examining your income and expenditures in order to determine exactly how much money you have coming in and where you’re spending it. Once you’ve got a clear understanding of your current budget – what income you’re receiving and what expenses you’re responsible for – take a closer look and find places where you can spend less. Not sure where to begin? Get started with this Budgeting calculator.

Financial tools, such as the ONE VIP Prepaid Visa Debit Card, are great solutions to manage spending habits and keeping a record of where you spend your money. You can track your purchases, balances, deposits and more all from your mobile phone.

Identify wants versus needs.
An effective way to streamline a budget is to identify your discretionary spending (wants) versus your essential spending (needs). Recognizing the difference between wants and needs can help you better understand what spending is necessary and what categories you could save in. The first step is to analyze your spending and cut back on nonessential purchases. It can make a significant difference in your annual budget by freeing up funds to be saved or used elsewhere. You may find you save hundreds of dollars a month by reducing entertainment costs or frivolous purchases. The idea isn’t to stop enjoying your life, but to understand costs and prioritize expenses for a healthier savings account.

Tackle your debt.
Many Americans owe money in the form of a student loan, a credit card or medical or consumer debt. It can take many years to pay off debt, but it’s important to live within your means and manage your debt load. Take the time to identify which of your loans have the highest interest rates and start paying them off first.

Consider professional counseling.
If you are struggling and can’t get your spending under control, consider seeking qualified financial counseling. Organizations like the National Foundation for Credit Counseling® offer free financial education and counseling services to help Americans cultivate responsible personal finance habits. Or consider finding a free, certified financial counselor through the Association for Financial Counseling and Planning Education (AFCPE), a nonprofit organization that aims to improve financial education for both financial counselors and clients. AFCPE’s online search tool can help you find the right advisor for your needs.

Bottom Line: Budgeting means different things to different people. Tools such as the ONE VIP Card can help get help you get and stay on track with budgeting goals.

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