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The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. SHARE: Courtesy of Digit May 14, 2019 Mary Wisniewski is a banking editor for Bankrate. She oversees editorial coverage of savings and mobile banking articles as well as personal finance courses. Lance Davis is the Vice President of Content for Bankrate. Lance leads a team responsible for creating educational content that guides people through the pivotal steps in their financial journey. Bankrate logo The Bankrate promise
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If you need immediate access to your savings on Digit, you can open the app and: Click “withdrawal” on your Digit fund. Pick the amount you want to withdrawal and select “instant” as the method. Confirm your transfer. Then, the money will post into your checking account within 30 minutes. What Digit s new feature means for you
If you’re struggling to save, the Digit app is designed to help you. The app automatically moves small amounts of money from your checking into your savings based on what it thinks you can afford. The app to help users pay down their credit card debt through automation. In an ideal world, your savings app is used to save. Yet, unexpected expenses inevitably come up, and you may need the money back quicker than one to three days. Paying 99 cents to make yourself liquid quicker can help bridge a cash-flow gap in a pinch. However, be cautious. Frequently moving money, especially small amounts, out of your savings can be hazardous to your wealth. Using Digit, you will also pay a monthly fee. After letting you try the service for free for 30 days, Digit will then charge you $2.99 for a monthly subscription. On the other hand, Digit accounts don’t have a minimum account balance requirement or charge overdrafts. While Digit announced the instant withdrawal feature today, it is not yet available to all users. The company says all users at eligible banks will have access to the new feature by the end of May. To Digit, the feature represents its mission to make achieving and maintaining financial health effortless for everyone. “We’re continuing to build innovative automated tools and are constantly exploring new solutions that will improve our customers’ financial well-being,” said Digit in an emailed response. Learn more
New wave of fintech firms are battling for your savings with high yields SHARE: Mary Wisniewski is a banking editor for Bankrate. She oversees editorial coverage of savings and mobile banking articles as well as personal finance courses. Lance Davis is the Vice President of Content for Bankrate. Lance leads a team responsible for creating educational content that guides people through the pivotal steps in their financial journey. Related Articles