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Digit app review

This microsavings app helps you save money effortlessly — but don’t expect to get rich fast.’s rating: 3.1 / 5.0


Digit savings is a microsavings app that helps you avoid overdrafts and passively set aside cash for short-term goals like vacations, emergency funds, investing and debt repayments. But it has a $5 monthly fee that can’t be waived and you only earn 0.1% interest — that’s $0.10 for every $100 you save.



$5 per month



Minimum deposit to open


Annual percentage yield (APY)0.10% 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
New account fee$0
Minimum balance to earn interest$1
Interest compoundingAnnually
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More Info


Review by

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.

But there’s an unwaivable $5 monthly fee and the APY is only 0.1%, paid out quarterly. This APY likely isn’t enough to justify the cost as you’ll pay more in monthly fees than you’ll earn in interest.

If you’re looking for a Digit alternative, Ally Savings offers similar features but is free, earns more interest and lets you split your money up into different savings goals, round up debit card purchases and set up recurring transfers.

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 the following:

  • Existing US checking account to link to Digit
  • iPhone or Android mobile phone

Required information

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

  • Phone number
  • Social Security number or tax ID number
  • Bank name and account details

Compare Digit to similar accounts

We gathered a quick comparison of similar accounts to help you decide if Digit is right for you. For more options, select “Compare accounts” to review even more accounts for your savings.



Finder Rating: 3.4 / 5

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$5 per month
(can be waived)


0.10% on $0+ When you save for three consecutive months, your account is rewarded with a 0.10% annualized savings bonus.

Minimum deposit to open


Minimum balance to earn interest


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 excessive withdrawal fees.

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.
  • 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.

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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