Digit Checking account review
- Fee
- $9.99 per month
Our verdict
This account divvies up your money where you need it, but it comes with a monthly fee.
You’ll get all the features of a traditional bank account with Oportun’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® Checking 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 Oportun‘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 Oportun‘s checking account?
The Oportun 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 Oportun will help you reach them by moving a specific amount each day from your Digit Checking account to your Savings.
- Investing. Oportun 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. Oportun can regularly pull cash from your checking account to fund your portfolio.
- Overdraft protection. If a transaction dips below $0, Oportun 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?
Oportun Direct may not be all it’s cracked up to be with the following disadvantages:- Subscription. Oportun 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. Oportun intelligently allocates funds and saves money for you based on an algorithm. But it’s not 100% foolproof. But if Oportun 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 Oportun Savings and Investing, Digit Checking isn’t yet live.
- Doesn’t earn interest. While Oportun offers a 0.10% annual savings bonus, you won’t earn any interest through your Oportun bank account.
Oportun‘s ATM network and fees
Although Oportun 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
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 Oportun app
- Bill pay
- ATM withdrawals
How to contact Oportun customer service?
Oportun 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.
Checking account ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.
Digit Checking is not currently available on Finder
Have you considered SoFi Checking and Savings?
Earn up to 4.60% APY on savings by meeting deposit requirements, and 0.50% APY on checking balances. Members without deposit requirements will earn 0.50% APY on both savings and checking balances. Turn on automatic savings or use the Roundups feature to help you reach your savings goals faster. Get up to $2M of additional FDIC insurance through a network of participating banks.
- 0.50% APY on checking balance
- Up to 4.60% APY on savings
- $0 account or overdraft fees
- Get a $300 bonus with direct deposits of $5,000 or more
Your reviews
Kimberly Finder
Writer
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