OneMoneyWay Review
Comprehensive review and analysis of OneMoneyWay's digital banking services
Quick Facts
- Founded
- 2020
- Head Office
- United Kingdom
- Active Customers
- 25,000+
- Total Funding
- £10 million
- Employees
- 50+
- App Store Rating
- 4.2/5
Pros & Cons
Pros
- Student-focused features
- International transfers
- Multi-currency support
- No proof of address
- Educational resources
- Competitive exchange rates
Cons
- Student-only accounts
- Limited banking features
- Higher transfer fees
- New to market
Supported Countries
- United Kingdom
Fees
- Account Maintenance Free
- Card Issue Free
- International Transfers From 0.5%
- ATM Withdrawals Free up to £200/month
- Foreign Exchange Wholesale rate + 0.5%
Overview
OneMoneyWay has focused on serving international students since 2020. Their platform combines essential banking services with features specifically designed for students studying in the UK, making financial management easier for those new to the country.
Key Features
Banking Services
- Student current account
- International transfers
- Multi-currency support
- Mobile payments
- Direct debits
- Standing orders
Student Features
- Easy account opening
- No proof of address
- Student discounts
- Educational resources
- Budget tools
- Term planning
International Services
- Global transfers
- Currency exchange
- Home currency accounts
- Transfer tracking
- Rate alerts
- Payment scheduling
Money Management
- Spending insights
- Budget tracking
- Savings goals
- Bill reminders
- Category analysis
- Financial planning
Security Features
- Two-factor authentication
- Biometric login
- Transaction monitoring
- Fraud detection
- Card freezing
- Device management
Customer Support
- In-app chat
- Email support
- Phone assistance
- Help center
- Student guides
- Multi-language support
Verdict
OneMoneyWay excels in providing specialized banking services for international students. Their focus on easy account opening and international money management makes them particularly valuable for students studying in the UK.
While the platform is limited to students and relatively new to the market, it offers essential features for international banking and money management. The main limitations are the higher transfer fees and restricted banking features, but for international students needing a UK bank account, OneMoneyWay provides a tailored solution.