Digit App Review: Is It A Savings Scam or The Real Deal?

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If you're anything like me, you struggle with saving money. And Lord knows I waste money every week on stupid things. So it would be great if savings was made an easy process where you don't have to think about it. Well apparently that's exactly what Digit helps you do. If you've searched online for Digit Reviews and you're looking for the hard hitting truth, then you're in the right place!

What is Digit App?

Located at Digit.co, Digit App is an iPhone and Android app that helps you save money. Similar to the Acorns App, the idea behind it is to make saving money as passive as possible so you don't have to think about it. Sounds pretty good doesn't it? Hello Digit, Inc, was started in 2013 and is managed by Christopher Wilson and  Ethan M. Bloch out of California and Digit (Digit App) was formerly launched in 2014.

How Does the Digit App Work?

Well, the amount of money the app helps you save is based on your spending pattern. The app actually analyzes your spending patterns then automatically dips into your checking account and puts a few dollars into an FDIC account for you. You can save about $2-$17 or more if you wish, every 2 to 3 days .

Simply download the app and link it to your checking account. Digit will open a savings account for you with one of its partner banks. Once you setup your account for Digit to start saving for you, Digit will deposit money into your savings account every couple of days and you can interact with the app via the commands. For example, tapping “Checking” will give you your checking account balance. It's like banking via text messaging.

You can access your savings at any time. All you do is send Digit a text message and Digit will transfer the money from your savings account to your checking account. You've got unlimited transfers at no cost to you and no minimum balances to maintain.

How to grow your investment?

Apart from the automated investing, you can raise or lower the amount you want to save. But that's not all.

Refer-a-friend

You can also grow your investment by referring your friends and family or anyone or that matter, so that they too can start saving more. Now if that’s something you might like to learn to do and capitalize on this opportunity, then you definitely need to check out my Top Free Work At Home Recommendation.

How To Sign Up For Digit?

There are two options you can use to join Digit. To get started you can go to the site digit.co and click on the “sign up for free” button. Or you can go to Google Play and download the app for iPhone or Android. Keep in mind that you're setting up a savings account, so you'll have to part with some personal information. Digit is free to join but at the time of this review, it's only available to U.S. residents. But they do have hopes to expand internationally in the future. If however you're looking for an opportunity to build your nest egg, then you definitely need to check out my Top Work At Home Recommendation.

What I Like?

It's Passive

Let's face it, most of us know we should save but we don't do it for various reasons. With this app you no longer have to think about it. It just happens in the background so it makes it easier.

Savings bonus

Digit will pay you a savings bonus (currently 0.20% annually) every 3 months. So you're making money while you save money.

No-overdraft guarantee

Now the intent is not to overdraft your account while helping you save. But if Digit overdrafts your account while doing so, they'll cover the fee up to two times per customer.

Savings account not needed

You don't need a savings account to sign up. When you sign up, you get your own Digit account for your savings and your funds are FDIC  insured up to a balance of $250,000.

Digit App Complaints and Concerns

Bank or Credit Union not on the list

Digit is currently available with over 2,500 banks and credit unions in the U.S. However, there have been a few complaints that users banks or credit unions aren't on the list.

Unfortunately not working

This is definitely not a message you want to get from an app, especially when your money is involved. But glitches in the technology would do that to you. If you can't access an app that's saving your money, that can be a bit worrisome.

Overdraft fees

Although the folks at Digit boasts about the app being able to “safely identify money you can afford to save,” there have been a few complaints about checking accounts being overdrawn by Digit. Oops.

Set limit not working

Some people want to set the app to save more and some want to set it to save less. But it seems like the “set limit” function isn't functioning too well for some users.

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App not connecting to my bank

There have been a few complaints that the app isn't connecting to a few users banks. If the app doesn't connect or sync to your bank account, then it can't analyze your spending pattern and save on your behalf.

Can't see balance at a glance

This by far has been one of the more frequent complaints. Users want to be able to see their current balance at a glance as opposed to having to text for it.

Customer service 

There have been a few complaints about their customer service not being timely in their response to queries. We all know how frustrating that can be.

So Is The Digit App Legitimate or Not?

The Digit App and service are definitely legitimate. But like everything else, some people love it and some people hate it and currently, they've got an A- rating from the Better Business Bureau. If you're trying to get into the habit of saving as opposed to spending every dime you make, then Digit might just work for you.

If however, you're not comfortable with the idea but you're looking for a more lucrative way to grow your nest egg, then you definitely need to check out my Top Work At Home Recommendation and my Work At Home Courses. With multiple streams of income, you can be on your way to growing your nest egg with passive income.

Well, that’s it for my Digit App review. If you've ever used an app like this, please feel free to share your experiences with me and my readers. Or if you've got any questions or concerns not addressed in my review, drop me a line. If you enjoyed this article you can read more work at home reviews here.

Until next time,

Eddy with a y

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Eddy Salomon

Eddy "with a y" is a Blogger & Affiliate Marketer with over 10 years of SEO experience in writing engaging blog posts that drive traffic, sales & leads. Furthermore, he's a pain in the ass dad & husband.

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Jason - July 1, 2017 Reply

Digit started texting me without me ever signing up. A little worry some having a money based app telling me to give info when I never signed up.

Veena - April 2, 2017 Reply

Hi Eddy,

Thanks for the review regarding the digit app. Sounds like a cool awesome app to have. But my concern is whether is it save to allow it to deduct from your bank account? I would prefer if it gives you an estimate amount that I can actually save from my expenditure pattern rather than allowing an app to deduct it for me. Does this app work in Malaysia?

AaronL - April 2, 2017 Reply

So based on the review it appears that this app creates another savings account for the user. These rates are so low I wouldn’t want my money making less than a % point per year. It would be nice if the money was instead put into a broker account where you could invest in the S&P 500. Thanks.

Zoly - April 2, 2017 Reply

The idea of this app is not bad. But I would like an app that can teach users how to save money, not to take money from they bank account. I wouldn’t trust an app to take money from my account and put in another account. Especially one account opened by the app. There are too many hackers out there.

Salvatore V Jenkins Jr. - April 1, 2017 Reply

I have never been good at saving money, even when I have a savings account something comes up and there goes the money.

Maybe a year ago I had to change banks, I went with Wells Fargo and opened a saving account. Everytime I swipe my debit card it takes a dollar and puts it into my saving account. This has worked for me for the most part…

Digit App sounds like a great tool for saving money unconsciously but don’t know how comfortable I am giving the app access to my checking account.

    Eddy Salomon - April 1, 2017 Reply

    I hear ya Salvatore. That is a valid concern I think anyone would have. Thanks for sharing.

Anthony - April 1, 2017 Reply

Excellent review. As a former financial investment advisor I can attest to the difficulty and challenges people endure in trying to juggle living paycheck to paycheck or just in general. without a plan in place you are not visually getting a grasp of the amount of money we spend without much thought. This app is a must for anyone that knows they should save but don’t know how to start.

    Eddy Salomon - April 1, 2017 Reply

    That says a lot from a former financial investment advisor. Thanks for your insight and comment.

stacey - March 31, 2017 Reply

very good in depth review sir ! i think i should consider making my wife get this app to try to help her budget her spending habits have gotten out of control as of late if you know what i mean. any other apps you recommend that i may not have heard of ?

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