{"id":4226,"date":"2024-03-20T16:54:58","date_gmt":"2024-03-20T21:54:58","guid":{"rendered":"https:\/\/www.northone.com\/blog\/?p=4226"},"modified":"2024-03-20T16:54:59","modified_gmt":"2024-03-20T21:54:59","slug":"oxygen-alternative","status":"publish","type":"post","link":"https:\/\/www.northone.com\/blog\/business-banking\/oxygen-alternative","title":{"rendered":"The Best Alternative to Oxygen Bank for Business"},"content":{"rendered":"\n

Mobile banking platform, Oxygen, recently announced it has suspended banking services in an effort to provide other offerings. This announcement has left customers until March 29th, 2024 to find an alternative for their business banking needs. <\/p>\n\n\n\n

To all business owners affected by Oxygen\u2019s business account closures: North One<\/a> has your back. As a leading digital bank for small businesses: North One is the best alternative to Oxygen. North One offers free business banking, integrations with small business tools you use, and features like Bill Payments<\/a> to automate paying invoices and bills.\u00a0<\/p>\n\n\nApply for an Account<\/span><\/a><\/span><\/span>\n\n\n

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<\/span>What is Oxygen Bank? <\/span><\/h2>\n\n\n\n

Oxygen is a mobile banking platform designed for freelancers, small business owners, and consumers. It offered features including invoicing, virtual cards, and cash back. Oxygen Bank was designed to help users better manage their finances. <\/p>\n\n\n\n

<\/span>Why is Oxygen Closing Business Bank Accounts? <\/span><\/h2>\n\n\n\n

Oxygen is shutting down banking services to focus on providing health insurance solutions. CEO of Oxygen, David Rafalovsky told FinTech Futures<\/a> in an email that changes in the industry present opportunities to change focus and provide value to customers with a product line that \u201cintegrates health with financial solutions.\u201d<\/p>\n\n\n\n

<\/span>Can You Still Use Your Oxygen Business Bank Account? <\/span><\/h2>\n\n\n\n

You will not be able to use your Oxygen business deposit account after March 29, 2024. According to Oxygen, their deposit account program will be discontinued after that date. <\/p>\n\n\n\n

Starting March 16th, you will no longer be able to deposit funds into your account, whether you wish to transfer cash or make recurring deposits. These deposits will be rejected and returned to the payer after this date. If you have recurring payments which are sent to this account, you should contact the payer and notify them of this change. If you have recurring payments sent from your Oxygen account, you should arrange a change of payment. <\/p>\n\n\n\n

<\/span>What is the Best Small Business Alternative to Oxygen?<\/span><\/h2>\n\n\n\n

For Oxygen small business customers affected by the upcoming closure of their accounts, <\/p>\n\n\n\n

North One is a free, online business banking platform<\/a> that connects your sales, payments, spending, and budgeting to one powerful bank account.1<\/sup><\/p>\n\n\n\n

In addition to a seamless web and mobile banking experience, we offer tools designed to help small business owners manage finances and build lasting businesses. North One customers have a 75% lower failure rate than the national average.2<\/sup> <\/p>\n\n\n\n

With North One, you\u2019ll get:<\/p>\n\n\n\n