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All about Personal banking
All about Personal banking

Faqs that help you understand the ins and outs of personal banking.

Updated over a week ago

This comprehensive FAQ guide can help you understand your Oxygen personal account better, so you can make the most of our innovative banking platform for all of your checking and savings needs.

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

1. What is Oxygen?

Oxygen is a modern financial technology platform designed to provide seamless banking services for the 21st century. We offer innovative features like cashback rewards*, virtual cards**, savings goals and more.

2. What sets Oxygen apart from other digital banking platforms?

Oxygen distinguishes itself with features like early payday access***, higher cashback percentages and an intuitive interface where you can manage both your personal and business banking. Our commitment to offering a straightforward and evolving banking experience makes us stand out in the crowded digital banking space.

3. How do I sign up for an Oxygen account?

Signing up is easy. Just download the Oxygen app from the App Store or Google Play, or sign-up on our website. Then follow the simple on-screen instructions and complete your application in less than two minutes.

4. What are some of the benefits of an Oxygen account?

With Oxygen, you can enjoy features and perks like cashback rewards on purchases, virtual cards for added security, savings goals to help you reach your financial targets, and early payday options.

What’s more, we offer an expanding number of other helpful features, including our Oxygen Elements tiers with their enhanced banking benefits and the Oxygen Friends program for sending and receiving money within your Oxygen network. All of this on one platform where you can manage both your business and personal banking needs.

5. How do cashback rewards work?

Our cashback rewards program lets you earn a percentage of some purchases back as cash. You can activate offers for specific merchants in the app to enjoy rewards. Cashback earned is added to your Pending Rewards balance that is released to Available Rewards on Oxygen Day. There may be applicable minimum spend requirements and frequency of use limits.

6. Can you explain the cashback rewards in more detail?

Oxygen's cashback rewards program allows you to earn a percentage of your purchases back as cash. Our cashback offers are tailored to specific national merchants our customers use most often, helping to ensure you maximize your rewards.

7. What are virtual cards?

Virtual cards** can be one-time-use or used multiple times and add an extra layer of security to your online transactions. Your actual card information remains private to help you avoid potential cyber threats.

8. How does Oxygen's virtual card feature compare to others?

While many platforms offer virtual cards, Oxygen's virtual cards stand out for both their ability to be one-time-use-only and to be created for specific merchant subscription payments. The added layer of security that virtual cards provide helps ensure that your sensitive card information remains private to protect you from online fraud.

9. How can I set up savings goals?

Setting up savings goals is easy. Define your financial objectives, such as a vacation or a new car, and our app will help you track your progress and save money accordingly.

10. What makes the Oxygen savings goals feature special?

Oxygen's savings goals feature allows you to define financial targets and track your progress towards them. Unlike other platforms, our interface is user-friendly and visually appealing to help motivate you to save and achieve your goals.

11. Can I get paid earlier with Oxygen?

With our early payday feature, you can access your paycheck up to two days earlier *** than traditional banks, giving you more control over your finances (please note that early access availability depends on the initiating bank).

12. How does Oxygen provide early payday access?

Oxygen gives you the ability to access your paycheck up to two days earlier than traditional banks. Not commonly offered by other platforms, this perk gives you more control over your finances while helping you avoid financial stress between paychecks.

13. Why should I choose Oxygen to help manage my expenses?

Oxygen's intuitive expense management tools and real-time tracking capabilities in the personal account make it easier to monitor and control your spending compared to other platforms. We aim to empower you with the insights you need to make informed financial decisions in real time.

14. Is my personal information safe?

Yes. We prioritize the safety and security of your data. Your information is protected with bank-level encryption, and we never share it without your consent.

15. Can I link my existing bank account to Oxygen?

Yes, you can link your existing bank account to Oxygen for easy transfers and tracking of your finances all in one place.

16. How can I contact customer support?

If you have questions or need help, reach out to our dedicated customer support team daily at or 866-287-7021 from 10 a.m.–6 p.m. EST (except holidays). Or, reach us through our help and support button in the app.

17. Is there a minimum balance requirement?

No, we don’t require a minimum balance to open an account, which makes it even easier for you to get started with Oxygen.

18. Are there any fees?

We strive to keep our fees to a minimum as much as possible. Our app provides you with a transparent breakdown of any applicable fees related to your Oxygen transactions. You can also reference our fees and limits page or our Deposit Account Agreement for more details.

19. How can Oxygen help me achieve my financial goals?

Oxygen provides a suite of tools and features that empower you to reach your financial aspirations faster. Our unique combination of innovative personal banking and business solutions is designed to make money management more convenient, straightforward and rewarding than ever before.

20. How can I start using Oxygen for my banking needs?

To get started, simply download the Oxygen app, complete your application, and start enjoying the benefits of modern banking tailored to you.

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.

*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.

**The Visa Virtual Account may be used everywhere Visa debit is accepted online.

***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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