Cashback Activation: The process of enabling a specific cashback offer or reward in your Oxygen app.

Air Tier: The third tier of Oxygen Elements, providing 4% cashback rewards and enhanced benefits.

Ambassador Rewards: An additional rewards program offering cash bonuses and discounts on Elements upgrades based on your qualifying annual spend within a 365-day period.

APY (Annual Percentage Yield): The annualized interest rate that takes into account compounding interest, helping your savings grow.

APY Rate: The interest rate offered on your savings, compounded annually, helping your money grow over time.

Balance Restrictions: Limits on the amount of money eligible for earning interest or rewards.

Cashback Rewards: Earnings you receive based on your spending at specific merchants, which accumulate in your "Total Rewards Account" until Oxygen Day.

Cashout: Transferring your accumulated rewards from your "Total Rewards Account" to your "Oxygen Account."

Change in Terms Notice: Notifications regarding changes to any Oxygen program, benefits, terms, and conditions.

Direct Deposit: A convenient way to have your paycheck or other regular payments directly deposited into your Oxygen account.

Earth Tier: The entry-level tier of Oxygen Elements, providing essential banking features at no annual cost.

Fire Tier: The top tier of Oxygen Elements, offering 6% cashback rates and exclusive rewards.

Incorporation: The legal process of forming a separate entity, typically a corporation or LLC, to conduct business. It provides limited liability protection and legal recognition as a distinct entity from its owners.

Invoicing and Expenses: Involves creating payment requests, and "Expenses" refer to costs incurred for business or personal needs. Both are crucial for financial management.

Merchant-specific Cashback: Under the cashback system, rewards are specific to individual merchants, requiring activation for each merchant's offer.

Oxygen Day: The 8th day of each month when the accumulated rewards from your "Cashback Earned" are transferred to your "Total Rewards Account."

Oxygen Deposit Account: Your personal deposit account with Oxygen, where your cashback rewards can be transferred.

Oxygen Elements: A unique banking experience with different tiers (Earth, Water, Air, Fire) offering various benefits and rewards, with competitive cashback and savings Annual Percentage Yield (APY).

Oxygen Friends: Peer-to-Peer transfers that allow you the ability to send and receive money directly between Oxygen accounts, split expenses and chat with others in the Oxygen Community.

Referral Program: A program allowing you to earn rewards by referring others to join Oxygen.

Reimbursement: Compensation or payment for expenses such as subscription fees or application costs.

Rolling 30-Day Period: A continuous 30-day timeframe used to calculate spend requirements and eligibility for rewards.

Savings Goal: A "Savings Goal" is a target amount set to save for a specific purpose, like buying a house or funding education.

Savings Options: Various opportunities provided by Oxygen to help you save money and achieve your financial goals.

Spend Requirement: The amount you need to spend within a specific timeframe to qualify for certain rewards or benefits.

Total Rewards Account: An account where your accumulated cashback rewards, Ambassador bonuses, and other rewards are moved to on Oxygen Day, allowing you to cash them out.

TSA Reimbursement: A benefit available in certain Elements tiers, offering reimbursement for TSA PreCheck and Global Entry application fees.

Upgrade: Moving from one Element tier to another with enhanced benefits by paying the next tier annual fee or making use of Ambassador rewards upgrade discount.

Upgrade Discount: A reduced fee for upgrading your Element tier within 30 days of receiving a push notification about your eligibility for Ambassador rewards.

Virtual Cards: Digital cards that can be generated for online transactions, providing added security and control.

Water Tier: The second tier of Oxygen Elements, offering 3% cashback percentages and additional perks.