Digit is now offering a bank account with its automatic savings features built in
0Reported today on The Verge
For the full article visit: https://www.theverge.com/2021/6/15/22533664/digit-automatic-savings-online-bank-ai-subscription
Reported today in The Verge.
Digit is now offering a bank account with its automatic savings features built in
Digit is building on its automated savings know-how with a new $9.99 per month banking feature called Direct that will launch later this year. With the new service, you'll have access to "spending" and "bills" accounts, a debit card (with access to ATMs), and all of the usual AI-enabled savings tools Digit's gained over the years, but with no waiting for bank transfers and theoretically even easier saving.
Along with the banking basics offered by Digit's partner for the service, MetaBank, Digit Direct includes a redesign of the Digit app. Digit's original app put savings goals front and center. Goals are still part of Digit in Direct, but the emphasis now is on the two new accounts the service adds to the mix.
At the top is Spending, which is essentially the checking account portion of Direct. The app will display how much money you have freely available, and it includes menus where you can manage your Digit Direct debit card, see transactions, and track the money Digit intelligently moves between your various other Digit accounts. The debit card works like any other card sporting a chip, and Digit says it's supported at 55,000 fee-free ATMs.
Below spending is bills, which is a separate account, hopefully protecting that money from being spent on things it's not set aside for. The bills section is for upcoming payments, like subscriptions, rent, utilities, and other recurring charges. For Direct to work as intended, you'll have to switch the payment information for your various recurring charges to your new bills account. Note that for now, the bills section can only automatically save for and track monthly charges. Digit says yearly recurring charges are on t