It's a cool concept, but I won't use Digit personally because it doesn't provide clear financial benefit to me.
Digit sits on your money collecting the bulk of interest and giving you a paltry 0.2% annually [0]. To be clear, I'm not dissing it... if it helps some people save more than they would otherwise, then that's great, but it's just not right for my use case. I feel similarly about Acorns.
That said, their concept is solid. I run the same strategy but a few times per month by hand and into an account with a good interest rate.
Just be careful! If you make a large deposit to cover an upcoming expense Digit can go crazy and pull too much money because it thinks you've had an influx of cash that it can squirrel away.
Digit sits on your money collecting the bulk of interest and giving you a paltry 0.2% annually [0]. To be clear, I'm not dissing it... if it helps some people save more than they would otherwise, then that's great, but it's just not right for my use case. I feel similarly about Acorns.
That said, their concept is solid. I run the same strategy but a few times per month by hand and into an account with a good interest rate.
[0]: See "Does Digit cost anything?" and "What are Savings Bonuses?" on https://digit.co/about/faq