It's a free-to-join, automatic savings tool that ties into your checking account, uses a sophisticated algorithm to analyze your income and spending habits, and then makes regular transfers to your FDIC-insured Digit savings account and Digit investment accounts, typically every week or every few days.
Digit is legit. They keep your money and personal info safe and offer a valuable service that will benefit many people. It's a great option for people who have a hard time saving money. There is a $5 monthly fee attached to using Digit so be sure to weight if the investment is worth using their service to save money.
Although Digit charges a fee and won't make you money over the long term, it's an easy and painless way for people to start saving. The system is truly set-it-and-forget-it, allowing your to grow your money without a second thought.
Make your savings automatic by setting up recurring deposits from your checking account. Most banks let you set up automatic deposits from your checking account to your savings account.
The app charges a monthly subscription fee of $5. And if you want to instantly withdraw money from your Digit account to your checking account, the app imposes a fee of 99 cents, though you can choose to wait a day or two and pay nothing for the withdrawal.
Any time a bank account is removed from Digit, your saved balance (including any pending saves) is automatically returned to you. if the account Digit has been saving from is now closed, you can choose to have your balance returned to you through a check.
What happens when I cancel a goal? Anything saved will head back to your checking account, and no further saves will be created. ... Pending saves will be sent back after they clear, which can take up to 3 business days from the day you saw the funds leave your checking account.
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