Payment Method | Funds Available | Description | Payee |
---|---|---|---|
Push to Debit |
< 5 min | Funds are pushed to an existing debit card | Insureds/ Claimants |
Venmo |
Instantly | Funds are deposited into the claimant's Venmo account | Insureds/ Claimants |
PayPal |
Instantly | Funds are deposited into the claimant's PayPal account | Insureds/ Claimants |
Virtual Claims Card |
Instantly | Funds are loaded to a virtual ClaimsCard® that is emailed to vendors and processed through their POS system | Vendors / Sevice Providers |
Physical Claims Card |
Instantly | Funds are loaded to a prepaid card that can be used instantly to make purchases wherever credit cards are accepted | Insureds/ Claimants |
ACH |
1-3 Business Days | Funds are deposited into a payee's bank account | Insureds/ Claimants Vendors / Service Providers Lienholders Motgagees |
Check PrintNow |
1-3 Business days | Adjusters can print a check in the insurance office and hand it over to the claimant immediately | Insureds/ Claimants |
Paper Check |
4-6 Days | One Inc offers standard and same-day check printing allowing you to outsource your entire check printing operation | Insureds/ Claimants Vendors / Service Providers Lienholders Mortgagees |
Increase in contactless payments in 2020
United States Smartphone Ownership
Customers using a digital service to purchase insurance
Of Gen Z are willing to switch insurers to gain access to instant claim payments
Of Millennials are willing to switch insurers to gain access to instant claim payments