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Digit app review

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This microsavings app helps you save money effortlessly — but don’t expect to get rich fast.’s rating: 3.4 / 5.0


The world of finance is ever-changing, helped along by new technology. The Digit microsavings app is the perfect example of old-school frugality mixed with 21st-century tech.

With Digit, you can easily save money for short-term goals. But you might try other ways to save if you have a more rigorous target in mind.



$5 per month



Minimum deposit to open


APY0.10% on balances of $0+ When you save for three consecutive months, your account is rewarded with a 0.10% annualized savings bonus.
Fee$5 per month
To waive the feeDigit is free for 30 days
Minimum deposit to open$0
Intro or bonus offerOpen Digit now and get $5 for your savings. Promotion valid from 11/9/20 to 12/6/20. Qualifying autosave must be completed before 12/7/20. Terms Apply.
New account fee$0
Minimum balance to earn interest$1
Interest compoundingAnnually
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Expert review

Ryan Brinks

Review by

As the news editor at Finder, Ryan Brinks melds decades of experience in business news and online content into creating comprehensive and helpful comparisons of the companies you trust your money with. He loves to innovate and put money to work while keeping a careful eye on managing risk. Beyond work, Ryan's also passionate about his family and serving his community.

Expert review

Digit is best for savers who are looking for an automated way to save. Digit learns your habits and transfers a portion of your income to a savings account where you’ll earn 0.1% APY.

However, there’s an unwaivable monthly fee of $5 a month.

Digit BankingDigit Banking

Open Digit now and get $5 for your savings

Open Digit now and get $5 for your savings. Promotion valid from 11/9/20 to 12/6/20. Qualifying autosave must be completed before 12/7/20. Terms Apply.

Last verified

Deal ends

How do I open a Digit account?

Get started with Digit in three easy steps:

  1. Click Apply now.
  2. From Digit’s website, enter your cell phone number and choose a password. Click Sign Up.
  3. Choose one or more savings goals inside the app, connect your bank’s checking account and start saving.


To use the Digit app, you need:

  • A US checking account to link to Digit.
  • An iPhone or Android mobile phone.

Required information

When you sign up for Digit, you’ll need:

  • Your mobile phone number.
  • Social Security number or tax ID number
  • Your bank name and account details.

What are the benefits of saving with the Digit app?

Available for download to your smartphone, Digit is a simple, FDIC-insured means to passive savings that offers:

  • Automatic transfers. Digit learns your habits, including your expected income and spending. It then transfers the leftovers into savings for you.
  • No minimum balance. Start with your small change, and let the savings add up over time.
  • Overdraft protection. Digit helps avoid overdrafts by transferring back into your checking if your balance runs too low. Plus, if the app causes your checking account to overdraft, Digit reimburses fees for up to two transactions.
  • Unlimited withdrawals. Need to tap into your savings? Withdraw what you need anytime without incurring fees.
  • Manage from mobile. View your balance, make a withdrawal, move money into your Rainy Day Fund and more from your smartphone.

What should I look out for?

Digit only offers the ability to deposit or withdraw your money online, by app or by text. Other potential drawbacks to be aware of include:
  • Monthly fee. You’ll pay $5 a month to use Digit‘s services. Or more than $35 a year.
  • Low interest. You can earn a 0.1% yearly bonus on your average daily balance, but it’s divided and paid out every three months. You’ll find a better rate with most high-yield savings accounts.
  • Limited support. You can’t get help by phone, in person or through live chat. Instead, you’ll need to email your question and wait for a response or search the online Help Center.

If you prefer a savings account with higher returns and no fees, you’ll want to keep looking. As always, compare your options when choosing a savings account.

Compare with other savings accounts

Name Product Interest rates (APY) Fee Minimum deposit to open Interest earned
American Express® High Yield Savings
Enjoy no monthly fees and a competitive APY with this online-only savings account. Accounts offered by American Express National Bank, Member FDIC.
Axos Bank High Yield Savings
No monthly maintenance fees. No minimum balance requirements. Interest compounded daily.
Aspiration Spend & Save Account

1.00% on $0 to $10,000 but you’ll need to be enrolled in Aspiration Plus and make at least $1,000 in debit card purchases a month
$0 per month or $7 per month for Aspiration Plus ($5.75 per month if you pay annually)
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.
CIT Bank Money Market
A savings account with a higher-than-average rate and minimal fees.
Continental Bank High Yield Savings
Continental Bank High Yield Savings account, offered through SaveBetter, has a $1 opening deposit and earns 0.45% APY.
SoFi Money
SoFi Money® is a cash management account that charges no account fees to save, spend, and earn cash back rewards when you spend on brands you love.

Compare up to 4 providers

How do I deposit or withdraw money?

Digit makes use of technology for everyday transactions. Transfer money in or out of the app in three ways:

  • Online. Log in to your online dashboard from Digit‘s website.
  • App. Transfer money into your Digit account or withdraw from it using your phone.
  • Text. Text the company commands like “withdraw” or “pause” for fast transactions.

How can I get in touch with customer service?

Everything about Digit is online or on mobile, including its customer service:

  • Online. If you have a question, search the help center. It’s chock-full of articles breaking down how the app works.
  • Email. Complete the secure contact form from the help center for a response from customer service.

Frequently asked questions

Savings account ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top savings accounts and rate them one to five stars based on factors that are most important to you. These factors include: interest rates, monthly fees, minimum deposits, customer service and account features.

Read the full methodology of how we rate savings accounts.

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