Here’s what you need to know about Digit!
Is the digit.co automatic savings tool right for you? Well, if you want to save money without giving it a second thought, you’ll love Digit.
I hope you enjoy my 100% unbiased review of the service. I use it each day and have not been paid to promote the service. As the Reading Rainbow guy used to say, “You don’t have to take my word for it.”
Is Digit a Scam?
No, it’s a company backed by Google and many high profile venture capitalists (such as the co-founder of Reddit). I’ve been using Digit for 2 months now and there’s no doubt in my mind that the company is legitimate. It’s just a new invite-only company at this point, that’s why you may not have heard of them before.
Is my money secure with Digit.co?
Yes, it’s as secure as if you had it in any bank or credit union. FDIC insured up to $25,000.
What if I want my money back right away?
You can get your money transferred back into your checking account within one business day.
Can I Pause Digit?
Yes, you can pause Digit at any time.
Why/how does Digit offer this service for free?
The money that gets automatically transferred from your checking account to your digit savings account earns no interest. Your bank would pay would about 1/2 a percent to hold your money. Digit keeps the hypothetical 1/2 percent and uses it to keep the company running. You lose the opportunity cost of having that 1/2 if it were at the bank. But in exchange you get a free service that saves you money. My checking account makes <$10/year in interest. I would easily pay that for Digit.
What if I have questions about Digit?
Leave a comment or email me. I’m kind of obsessed with this service so I bet I can answer your questions.
How do I signup for digit?
At this time, you can signup by referral only: https://digit.co/r/Wy4qt
Have fun saving money (for free!) without even think about it! I hope you enjoyed my Digit.co Automatic Savings Tool review. Enjoy!!!