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Digit Checking account review

This account divvies up your money where you need it, but it comes with a monthly fee.

Digit Checking is part of the Digit Direct trio, which gives you a checking, savings and investing account through its licensed partner bank, MetaBank. But what sets Digit Checking apart from traditional checking accounts is Digit’s algorithmic technology.

Digit budgets, saves and invests your money for you, so you know what’s left is safe to spend. But unlike some other bank accounts, a Digit Checking account will cost you $9.99 a month and your funds won’t earn any interest.

$9.99 per month

Fee

N/A

APY

Details

APYN/A
Fee$9.99 per month
ATMsNo access to ATMs
Out-of-network ATM fee$2.50

Review by


Kimberly Ellis is a writer at Finder. She hails from New York City with a BA from Queens College and a New York State teaching certificate. After teaching in both public and private schools, Kimberly decided to take the world by storm and dive into the media industry — where she covers everything from home loans and investing to K–12 education and shopping. She’s also an aspiring polyglot, always in a book and forever on the hunt for the perfect classic red lipstick.

Expert review

Digit Checking is best for those looking for a spending account that helps you budget, save and invest. Use your Direct Checking alongside Digit’s existing Savings and Investing accounts to more effectively manage your money.

You’ll get all the features of a traditional bank account with Digit’s AI technology as an added perk to help you divvy up your income to pay your bills and invest for the future. It’s best for customers who want to take the guesswork out of budgeting and saving.

But you’ll have to pay $9.99 a month to use it. If you prefer a checking account that combines an optional savings account, consider Chime Spending account, which is free to use and automates your savings. But if you want a spend account that combines savings and investment options, consider opening a cash management account.

How do I open a Digit Checking account?

Digit Checking is currently not available, but you can sign up for it’s waitlist on Digit‘s site.

Eligibility

To sign up for a Digit Checking account, you’ll need to meet these requirements.

  • Minimum 18 years old
  • US citizen or legal resident
  • Have a US bank account

Required information

During the onboarding process, you’ll need to provide the following information:

  • Full name
  • Email address
  • Cell phone number
  • Online credentials for your bank account
  • Social Security number

What are the benefits of Digit‘s checking account?

The Digit Direct account is changing the way you bank with the following perks:

  • Budgeting. Digit Checking takes your deposits and automatically allocates them to pay your bills.
  • Saving. Set up savings goals and Digit will help you reach them by moving a specific amount each day from your Digit Checking account to your Savings.
  • Investing. Digit can also create a diversified portfolio of exchange-traded funds (ETFs), so you can prepare your money for the future and your long-term savings goals. Digit can regularly pull cash from your checking account to fund your portfolio.
  • Overdraft protection. If a transaction dips below $0, Digit will instantly transfer funds from your savings into your checking to prevent overdraft fees. Also, set up Overdraft Prevention to automatically move money to your bank account if it falls below a specific amount.
  • Get paid early. With Digit Checking and direct deposit, you can access your paycheck up to two days early.

What should I look out for?

Digit Direct may not be all it’s cracked up to be with the following disadvantages:
  • Subscription. Digit Direct includes a Digit Checking, Savings and Investing account at a monthly fee of $9.99 or pay $95 annually and save $24.88 per year.
  • Algorithmic savings. Digit intelligently allocates funds and saves money for you based on an algorithm. But it’s not 100% foolproof. But if Digit causes you to overdraw your account, it’ll reimburse you for up to two overdraft fees.
  • Not available yet. Although you can sign up for Digit Savings and Investing, Digit Checking isn’t yet live.
  • Doesn’t earn interest. While Digit offers a 0.10% annual savings bonus, you won’t earn any interest through your Digit bank account.

Digit‘s ATM network and fees

Although Digit is a completely digital bank, it partners with a network of 55,000 surcharge-free ATMs through Allpoint’s ATM network. Out-of-network ATM transactions cost $2.50.

Compare Digit Checking with other checking accounts

Name Product APY Minimum deposit to open ATMs Out-of-network ATM fee
Aspiration Spend & Save Account
Finder Rating: 3.8 / 5: ★★★★★
Aspiration Spend & Save Account
Up to 1.00%
$10
55,000 free in-network ATMs
$0
Deposits are fossil fuel-free and insured by the FDIC. Enjoy a spend and save combo account with unlimited cash back rewards and a $100 bonus when you spend $1,000 in your first 60 days.
Chime Spending account
Finder Rating: 4.7 / 5: ★★★★★
Chime Spending account
N/A
$0
60,000+ fee-free ATMs
$2.50
Get rid of fees with this financial app offering consumer-friendly accounts. Chime can also help you save easily and access your paycheck faster.
Current
Finder Rating: 3.8 / 5: ★★★★★
Current
N/A
$0
over 55,000 free in-network ATMs
$0
Current connects your money to friends, family, brands, and experiences that matter.
Chase Total Checking®
Finder Rating: 3 / 5: ★★★★★
Chase Total Checking®
N/A
$0
Access to 16,000 ATMs and more than 4,700 branches nationwide
$2.50
Chase Total Checking is easy to use and gives you access to 16,000 ATMs and more than 4,700 branches. It offers a $225 signup bonus to new Chase customers
OnJuno
Finder Rating: 4.8 / 5: ★★★★★
OnJuno
Up to 1.20%
$0
more than 85,000 ATMs nationwide
$0
OnJuno embraces an open banking system for everyone, regardless of their age, location, or income.
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Compare up to 4 providers

How do I deposit or withdraw my money?

Digit Checking offers several ways to fund your account and spend your cash:

Deposit options

  • Direct deposit
  • Mobile check deposit
  • ACH transfer

Withdrawal options

  • Debit card
  • Send checks from the Digit app
  • Bill pay
  • ATM withdrawals

How to contact Digit customer service?

Digit plans on offering live phone support in the near future. But right now, the only way to contact customer service is by:
  • Submitting a help request on its website.
  • Emailing help@digit.co.

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