Digit Savings App Review. Savings account not needed. You don't need a savings account to sign up. When you sign up, you get your own Digit account for your savings and your funds are FDIC insured up to a balance of $250,000. Digit App Complaints and Concerns. Bank or Credit Union not on the list. Digit is currently available with over 2,500 banks and credit unions in. Savings Bonus. Partially offsetting the steep monthly fee is the fact that Digit pays you a 1% Savings Bonus every 90 days. Well, although it’s billed as a 1% bonus, the app explains that it’s actually 1% annually, paid quarterly — meaning that you’ll only receive a .25% bonus each time. Digit is a micro-savings app that was founded in 2015 by then 29-year-old Ethan Bloch, and users have already saved over $1 billion. The way Digit helps its users save is by using an algorithm to find the “perfect amount every day” to pull from your checking account and put it into savings.
Digit is the first completely automated savings tool… designed to help you save money. The app asks you to set personal goals… and there is no limit to the number of goals you can set. You can use Digit to save for a rainy day, a vacation, or a friend's birthday gift . Savings Bonus. Partially offsetting the steep monthly fee is the fact that Digit pays you a 1% Savings Bonus every 90 days. Well, although it’s billed as a 1% bonus, the app explains that it’s actually 1% annually, paid quarterly — meaning that you’ll only receive a .25% bonus each time.
And now that I’ve experience Digit, I thought I’d share this Digit Savings Review so you can fully understand the Digit Money Saving app! After taking the plunge and signing up for Digit, I started receiving text messages from Digit letting me know how my bank account was faring and how much Digit was putting into a special savings account.
Digit App Review Advertiser Disclosure This article/post contains references to products or services from one or more of our advertisers or partners. We may receive compensation when you click on. Digit Savings Bonus — All customers earn a 1% annualized Savings Bonus for every three months that they save with Digit.; Text Messaging — In addition to iPhone and Android apps, you can communicate with Digit’s service via text (SMS) messages. These allow you to perform all your regular banking transactions, such as viewing your balance, initiating withdrawals, saving extra money or. Related: Acorns Review: Pros, Cons, and How It Stacks Up to Other Apps. Apps like Digit Can Help You Save Money. Think of an app like Digit as a bicycle with training wheels. It’s there to get you into the habit of saving money and once you get used to it, you can transition to opening one or several savings accounts to use as sinking funds. Digit App Review Advertiser Disclosure This article/post contains references to products or services from one or more of our advertisers or partners. We may receive compensation when you click on.
