Float is your security net when the unexpected happens or when you need a little more cushion to your spending.
With Digit Float, Digit can spot you cash directly to your linked bank account and collect it after your next paycheck, only when it is safe for you.
How do I use Digit Float?
First, we’ll see if you qualify by running a few checks on income and payment schedules. This isn’t a credit check, and credit history is not required to use Float.
If everything checks out, you’ll see two ways to access float:
Auto-Float
With Overdraft Prevention, Digit already intelligently moves savings back to your bank account if it dips below the amount you choose. But what if your Rainy Day Fund doesn’t have enough money to pad out your bank balance? When you enable auto-Float, Digit can spot you funds in addition to moving any available Rainy Day savings to bring your checking balance back up to a safe amount.
On Request
You can request a Float from Digit whenever you'd like some extra cash. After analyzing your account, Digit will calculate a max float amount you can access. Need some last-minute car repairs that don’t fit in your budget? Digit Float is there to ensure you are still up and running when unexpected expenses pop up.
Please note: If Digit floats you an amount that hasn’t been paid back, you won’t be able to access more until we’ve been able to recover the first Float from you.
How do I pay back my Float?
Digit will wait until after your next payday or the next upcoming semi-monthly pay date to collect the outstanding amount back from your linked bank account. Don’t worry: Digit won’t collect unless there is a safe amount in your account.
You can also manually pay back your Float amount early if you’re able to.
How much does Digit Float cost? Does Digit Float charge interest?
Digit Float is included in your Digit membership at no additional cost, fees, or interest. But if you find the feature valuable, you can add an optional tip to help Digit keep providing the service to members. Your total amount to payback will be the float amount, plus any tip amount you entered.
How is my max float calculated?
The amount you are eligible to be floated is based on the info we read on your finances (income, expenses, recurring bills, transactions) and your history with Digit.
Will Digit save for me while I have an outstanding Float amount?
While you have an outstanding Float, Digit will not save towards your goals until that amount has been paid back. To resume saving, you can manually pay back your outstanding float amount early by visiting the Float screen, or wait until Digit automatically collects the outstanding Float amount when safe.