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Oxygen Features
What is the Savings Goal?
What is the Savings Goal?

Our savings accounts are created to help you save more. Learn how to use the savings goal feature.

Updated over a week ago

Oxygen’s Savings Goal feature

What is the Savings Goal feature in Oxygen?

Oxygen's powerful Savings Goal tool allows you to set financial targets, track your progress, and save towards specific goals, whether you need money for vacation, an emergency fund or other personal aspirations.

How do I create a savings goal in Oxygen?

Creating a savings goal is easy:

  1. Log in to your Oxygen account.

  2. In the “Overview” tab, scroll down to your savings account section and select “Main goal” or “Create a new goal.”

  3. Tap “No savings rules enabled” to turn the savings rule on.

  4. Add the name of your goal, the goal amount (optional) and goal deadline (optional), then tap “Continue.”

  5. You’ll get the option to add a cover photo. Choose “Add a cover photo” or “Skip and continue.”

  6. You’ll then be asked if you want to set up any savings goal rules. Tap “Save when you get money” or “Round up spare change” to enable rules, or skip and just tap “Create goal.”

Can I have multiple savings goals?

Yes, you can create and manage multiple savings goals to help you prioritize and save for different objectives at the same time. Please see the chart below for the # of savings goals you can have based on your Element tier.









Can I change my savings goal amount or target date after creating it?

Yes, you have the flexibility to adjust your savings goal amount or target date anytime to align with your changing financial situation and needs.

How do I track progress towards my savings goals?

You can see your savings goal progress visually represented within the savings section of the app. We show you how close you are to achieving your target and help motivate you to stay on track.

Can I set up automatic contributions towards my savings goal?

We make saving towards your goal seamless and hassle free. Use the “Save when you get money” or “Round up spare change” rules to automatically schedule money to deposit into your savings.

Other than setting up these savings goal rules, you cannot schedule automatic transfers to your savings account at this time. You must first send the funds to your deposit account and then manually transfer it from your deposit account into your savings account.

Are there fees or charges associated with using the Savings Goal feature?

No, using Oxygen’s Savings Goal feature is entirely free. There are no additional charges or fees.

Can I withdraw money from my savings goal before reaching the target date?

Yes, you can withdraw funds from your savings goal anytime. We give you the flexibility to access your savings when needed.

Are there any limitations to savings goals based on my account type?

The Savings Goal feature is available for all Oxygen account types to ensure that every customer can benefit from effective goal-based saving. Depending on your Element tier, you can create multiple savings goals. Please see the chart below:









How can I stay motivated to reach my savings goal?

Oxygen provides personalized insights and notifications to help you stay motivated and on top of your savings goal progress. We help you celebrate milestones and achievements along the way to keep your financial journey exciting and rewarding.

How can I accelerate my savings?

Take advantage of Oxygen savings goal rules in the Oxygen app to speed up your savings:

  1. Scroll down to your savings account and tap on “Main goal” or “Create a new goal.”

  2. Turn up the accelerator in the “Round up spare change” rule or increase either the percentage or specific amount within the “Save when you get money” rule to save even faster.

Are there other ways to increase my savings in addition to setting savings goals?

Small changes in your financial habits can make a significant difference to your savings in the long run.

Here are a few additional time-tested strategies you can try:

Budgeting: Create a detailed budget to track your income and expenses.

Reduce unnecessary costs: Review your expenses and identify any nonessential items or services you can eliminate or reduce.

Increase income: Explore other ways to boost your income, such as taking on part-time gig work.

Treat savings as a priority: When you receive a paycheck, allocate a portion to savings before spending on other items. Pay yourself first.

Earn interest: When you keep money in an Oxygen savings account, you can earn interest just by keeping your money in that account.

What are some ways I can use my savings goals?

Got a financial dream you’d like help reaching? Here are just a few real-life examples of how you might use your Oxygen savings goals:

Dream vacation

Set a savings goal for that vacation you've always wanted. Whether it's an exotic beach destination or a cultural adventure, use your Savings Goal to track your progress and make your travel dreams come true.

Emergency fund

Build a safety net for unexpected expenses by creating a savings goal for your emergency fund. Having a designated what-if fund will give you peace of mind and financial security during challenging times.

Home renovation projects

Planning a home improvement? Set aside funds for your remodeling project using a savings goal to be sure you have the finances ready when it's time to bring your vision to life.

Tech upgrade

Saving for the latest gadget or technology? Set a savings goal to reach your target and help you stay disciplined in achieving your tech aspirations.

Car down payment

Whether it's a new car or you’re making an upgrade to your current ride, use the savings goal to save for the down payment on your dream car.

Higher education

Planning to pursue a degree or further your studies? A savings goal can help you save for tuition fees, books, and other educational expenses.


Saving for you or your loved one’s special day? Create a savings goal to fund the wedding expenses and help everyone have a stress-free and memorable celebration.


Have your eye on a luxury item, like a designer bag or the latest smartphone? Use a savings goal to save up for your indulgence and treat yourself guilt-free.

Charitable giving

Want to give back to your community or support a cause close to your heart? Make a positive impact by creating a savings goal to save for your charitable donations.

Retirement nest egg

Financial independence and a comfortable future is on everyone’s wish list. Set a savings goal to help you plan and provide for your retirement years.

Banking Services provided by The Bancorp Bank, N.A., Member FDIC. The Oxygen Visa® Debit Card and the Oxygen Visa Business Debit Card is issued by The Bancorp Bank N.A. pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.

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