What is the difference between savings-only and banking?

Two account types, both with the intelligence of Oportun

When using the Oportun app, members have the option of signing up for two different account types that both have powerful tools to help achieve financial health: savings-only or banking. 


With savings-only, you can create savings goals for anything you want to put away money towards. Then, link your existing bank account and Oportun will get to work analyzing your spending habits, pay schedule, and recurring expenses. 

The money we set aside is taken from your linked bank account and then distributed to the savings goals you set up. 

Savings-only members can also sign up for Oportun retirement or investing accounts to have funds from their linked bank account set aside and put towards the future. 


For banking members, the core of your account is the Spending balance. You can fund your Spending balance, either through direct deposit with your employer or from a linked bank account, and then make purchases using your Digit® Visa® Debit Card. 

With banking, money for your Savings goals is taken from your Spending balance.On top of that, you have a Bills account where you can tell us about your monthly expenses and we'll budget towards those from Spending. Your Bills account also has its own virtual debit card number and account number, and you can use that information with your biller to have the money in Bills taken for payments when your bills are due.

Banking members also have the option to open a Oportun retirement/investing account.