Oxygen
Mobile-first business banking for freelancers and creators.
Affiliate Disclosure: We may earn a commission from our partners. Our editorial team independently evaluates all tools based on features, value, and user experience.
Oxygen is a mobile-first digital banking platform designed for the modern workforce — freelancers, creators, and the self-employed. It offers both personal and business accounts with no monthly fees, cashback rewards on purchases, and features tailored to gig economy workers. The seamless transition between personal and business accounts is a standout feature.
Our Scores
4.5
Ease of Use
3.9
Features
4.6
Value
3.8
Support
Pros & Cons
Pros
- ✓No monthly fees on the standard plan
- ✓Personal and business accounts in the same app
- ✓Up to 5% cashback on business purchases
- ✓Free virtual debit card for online spending
- ✓Instant payment notifications and spending controls
Cons
- ✗Fewer features than Relay or Mercury for business banking
- ✗Limited accounting software integrations
- ✗No multi-currency support
- ✗Less well-known — smaller user base
Best For
- →Freelancers and gig workers who want mobile-first banking
- →Creators who want both personal and business accounts in one app
- →Those who want cashback rewards on business spending
- →Budget-conscious freelancers wanting no-fee banking
Not Ideal For
- ✗Freelancers needing sophisticated accounting integrations
- ✗Those needing multi-currency international accounts
- ✗Businesses with complex banking requirements
Pricing
Free
Free
- ✓Business checking
- ✓Visa debit card
- ✓1% cashback
- ✓Mobile banking
- ✓FDIC insured
Premium
$9.99/month
- ✓Everything free
- ✓5% cashback
- ✓Free ATM withdrawals
- ✓Premium support
- ✓Higher limits
Frequently Asked Questions
Is Oxygen FDIC insured?
Yes. Oxygen banking services are provided by The Bancorp Bank, N.A., Member FDIC. Deposits are insured up to $250,000.
Who is Oxygen best for?
Oxygen is best for freelancers and gig workers who want a simple, mobile-first banking experience with cashback rewards and no monthly fee. It is not the best choice for those needing accounting integrations or multi-currency features.
Other Banking Options
Tax Information Notice
This content is for informational and educational purposes only. It does not constitute tax, legal, or financial advice. Tax laws change frequently. Always consult a qualified CPA or Enrolled Agent for your specific situation.