Oxygen is a fintech app that offers “tools and services for extraordinary entrepreneurs and business owners”, letting you have one app that easily alternates between personal and business bank accounts. Banking services are through The Bancorp Bank, Member FDIC. The app design is very modern and slick, but let’s be honest, I’m here for the features and perks.
For personal accounts, you can get a $100 bonus if you open a new account via referral link (that’s mine) and then:
- Receive a payroll direct deposit of $500 or more, and
- make 5 debit card purchases within 60 days of opening an account.
The sign-up process is on the app, so you should either open the link via mobile device, or scan the QR code. The opening process was very easy and fast more me, I did not have to upload any additional scans of photo ID or similar. There was no credit check. I expect to knock out the debit card purchases quite easily between parking fees, Target Drive-Up orders, and Amazon reloads. I was able to sign-up and had my account and routing numbers in under 5 minutes. The referrer gets $100 as well for each successful referral, up to $1,000.
For business accounts, they offer a free LLC/S-Corp/C-Corp incorporation service, which can be worth $100+ as well. No special link required. Here are a few significant quotes of what they include:
- “Incorporate your new business right from the Oxygen platform wherever you are in the US. We take care of the hard stuff, so you can focus on what matters. Building your business.”
- “Choose between LLC, C-Corp and S-Corp. Get the setup that is right for your business type and size.”
- “Our team of formation experts will verify your business name availability, prepare your Articles of Organization, coordinate filing all required documents with your Secretary of State, and digitally return all confirmations directly to your personalized dashboard.”
- “Incorporation services include Articles of Organization, Federal Tax ID (EIN), one year free registered agent service, and a custom operating agreement.”
I don’t think I’ve seen free LLC formation as a “perk” before, so that is interesting.
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Oxygen Fintech App: $100 Bonus for Personal Accounts, Free LLC Incorporation for Business Accounts from My Money Blog.
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