Automatic savings and bill payments
Digit works by reading your linked bank account to intelligently and safely save money for you automatically. On top of that, Digit can help you chip away at debt and make monthly bill payments directly from your savings goals.
Your funds in Digit are safe and protected, and you can easily move what you've saved back to your linked account when you need it.
Digit looks at a few things when it saves for you:
- Linked bank account balance
- Upcoming income (paychecks or predicted irregular income)
- Upcoming bills
- Recent spending
- Any savings controls that you set (Overdraft Prevention, Safe Saving Level)
Every day that your bank is open, Digit uses these inputs to try and find amounts that you can spare and puts that money into your different savings goals.
The funds in your Digit Account are held at FDIC-insured banks for your benefit and are protected up to a balance of $250,000.
Will Digit tell me when it saves?
Digit works on the idea that you save money more effectively when you don't have to think about it.
We've heard countless stories from members who have gotten through emergency situations (or were able to splurge on fun) thanks to the money in Digit that they didn't even realize they had saved away.
That said, Digit does allow you to set controls so you can reach your financial goals comfortably:
Can I tell Digit when and how much to save?
While it's not currently possible to schedule when and how much Digit saves for you, you can always add money to your goals whenever you'd like by creating a manual save.
Will Digit work if I do most of my spending on a credit card?
As long as the bank account you have linked to Digit is the one you use to pay your credit cards, Digit will still be very effective at saving. However, Digit won't be able to see your spending habits in as much detail as if you regularly used a debit card or made other bill payments from that bank account.