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How to use Oxygen for your business and personal finances
How to use Oxygen for your business and personal finances

Learn why Oxygen should be used as a unified platform for your business and personal finances

Updated over a week ago

Elevate your financial journey with Oxygen, your all-in-one platform for personal and business banking. Simplify your life, boost productivity, and enjoy exclusive rewards while staying in control.

Oxygen is a financial technology company, not a bank. Banking Services provided by The Bancorp Bank, N.A., Member FDIC

1. Why should I consider having both my business and personal accounts with Oxygen?

Combining your business and personal accounts on one platform in a single app helps streamline your financial management by offering a unified view of your finances. This makes it easier to track expenses, set budgets and monitor your overall financial health.

2. What benefits does Oxygen offer for business and personal accounts?

Oxygen provides a range of benefits for both business and personal accounts, including cashback rewards [1], virtual cards, early payday access, and our savings goals [2] feature. A combined approach ensures that you can enjoy these features and more in both aspects of your financial life.

3. How does having both accounts in one app simplify my financial tasks?

With Oxygen, you can easily toggle between your business and personal accounts to simplify tasks such as transferring funds, reviewing transactions and categorizing expenses. This eliminates the need for multiple apps or platforms.

4. Can I maintain the privacy of my personal and business transactions?

Yes, the Oxygen interface allows you to categorize transactions as personal or business to help ensure that your financial data remains organized and confidential. You'll have a clear overview of your finances while still keeping them separate.

5. How can Oxygen help support my business needs?

An Oxygen business account includes features tailored to entrepreneurs, such as categorizing expenses, detailed reporting and expense sharing with collaborators. Oxygen business accounts are designed to simplify financial management for business owners.

6. Can I access both of my accounts with a single login?

Yes, Oxygen's single login allows you to access both your personal and business accounts using one set of credentials. This convenient approach saves you time and hassle when managing your finances.

7. Does Oxygen have advantages for tax preparation and reporting?

Yes, having your business and personal transactions together in one app makes tax preparation smoother. You can easily categorize expenses, generate reports and export data for accurate tax reporting.

8. How can having my business and personal accounts in one app enhance my financial know-how?

Having a complete and consolidated view of your finances can help you gain a better understanding of your overall financial situation. This knowledge can help you make informed decisions to more effectively manage your financial goals.

9. Can I use Oxygen for my side hustle or freelance work?

Yes, Oxygen's integrated approach is perfect for managing income and expenses from side gigs, freelance work or any entrepreneurial efforts. You'll have a powerful, dedicated and straightforward platform for your business finances without the need for a separate app.

10. How can I start taking advantage of Oxygen's business and personal banking?

It's easy. Simply sign up for an Oxygen personal account on our website or in the app. Once approved, log into your Personal account and tap “Personal” at the top of the Overview page in the app to apply for a business account. Once created, you can start enjoying the benefits of managing two sides of your financial life in a single, convenient app.

If you want to apply for a business account without creating a personal account, download the Oxygen app and tap “Sign up” at the bottom of the screen. Then tap on “Business”, enter your email address and password then tap “apply”.

11. How can Oxygen assist me if I already have a personal account and am considering starting my own business or side hustle?

Oxygen is designed to cater to your evolving financial needs. With features like easy expense categorization, virtual cards for secure online transactions and early payday access, you'll have the tools to efficiently manage your personal finances alongside your changing business finances.

12. Can Oxygen help me manage my business finances, even on a small scale?

Yes, Oxygen's integrated approach allows you to set up and manage your business account within the same app you use for personal banking***. You can monitor business expenses easily, allocate budgets and even collaborate with others around shared expenses.

***Oxygen is a financial technology company. Banking Services provided by The Bancorp Bank, N.A., Member FDIC.

13. What advantages does Oxygen offer to someone transitioning from a traditional job to freelancing or consulting?

Oxygen understands the financial shift that comes with freelancing or consulting. By managing your personal and freelance incomes within one app, you can better keep track of your individual and combined finances and set aside taxes.

14. Can Oxygen help me save for my entrepreneurial ventures or particular projects?

Yes, Oxygen's savings goals feature allows you to set aside money for specific purposes, such as starting your own business or investing in a new project. You'll receive personalized insights to help you achieve your financial goals faster.

15. How does Oxygen assist with handling the often irregular income that comes with an entrepreneurial lifestyle?

You’ll benefit from Oxygen features like early payday access and cashback rewards to help you manage cash flow changes. These perks can provide some stability while you navigate the ups and downs of entrepreneurial income.

16. Can Oxygen help me stay organized regarding business-related transactions?

Yes, Oxygen allows you to categorize business-related transactions, which makes it easier to track expenses, generate reports and streamline your tax reporting. This can be invaluable when organizing and separating your personal and business finances.

17. What if I have personal and business accounts with other banks? How can Oxygen simplify my banking experience?

Oxygen's unified platform eliminates the need to manage multiple banking apps. By having your personal and business accounts in one platform on a single app, you'll save time and gain a comprehensive overview of your banking.

18. Is Oxygen suitable for entrepreneurs with various types of businesses, such as e-commerce, consulting or freelancing?

Yes, Oxygen is versatile and caters to entrepreneurs across different industries. Whether you're an e-commerce entrepreneur, consultant, freelancer or any other type of small business owner, Oxygen's features can be tailored to your unique financial needs.

19. Can Oxygen help me manage business expenses and tax deductions efficiently?

Yes, Oxygen's expense categorization and reporting features help you keep track of business-related expenses and simplify the process of calculating tax deductions to ensure accurate financial records.

20. How can Oxygen help me as I strive for work-life balance while managing my business?

While we can’t manage your time for you, we can make financial management a bit easier to help you save more of it and reduce your stress. Oxygen offers small business owners and entrepreneurs a unified banking solution for their personal and business finances. This allows you to focus more on your entrepreneurial life and other pursuits and less on figuring out your banking.


Banking Services provided by The Bancorp Bank, N.A., Member FDIC. The Oxygen Visa® Debit Card and the Oxygen Visa Business Debit Card are 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.

  1. Cashback percentage varies by Element. Variable annual fee and account activity requirements may apply. Limitations apply on maximum dollar amounts earned. In order to receive Cashback rewards for Earth you must spend $350.00 during a rolling 30 day period. Please refer to Total Rewards Terms & Conditions for more details.

  2. Early access to direct deposit funds depends on the timing of the payer's submission of deposits. We generally post such deposits on the day they are received which may be up to 2 days earlier than the payer's scheduled payment date.

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