Category: Automatic Savings

Label: automatic savings , desktop , mobile , mobile-first banking

Description:

Digit analyzes your spending and automatically saves the perfect amount every day, so you don’t have to think about it.

Pixel fires when bank account is successfully linked to Digit

Traffic Allowed: Content / Influencer Marketing only

Traffic Restrictions: No incent, no adult.

Geo: US

Topics

Background

• Digit’s mission is to make financial health effortless by helping users save money, without thinking about it. Simply connect your bank account and Digit does the rest — no need to set rules, or to worry about how much you should be saving

• Every day, Digit analyzes your spending, income, and upcoming bills and moves money from your checking account to your Digit account, if you can afford it. You can withdraw at any time.

• Digit is free for 30 days and $2.99 a month thereafter

Product Features

• Rainy Day Fund – Digit creates a Rainy Day Fund for all new users to jump start their savings

• Goals – In addition to Rainy Day Fund, users can create a savings goal with Digit. Users have the option to specify the amount and the deadline. Not sure what a reasonable deadline is? Digit will project the smart ETA for you

• Paying of debt automatically- We can now save for a users credit card debt and pay off the debt automatically for them. https://help.digit.co/hc/en-us/articles/360001121268-What-is-Digit-Pay-and-how-does-it-work-

• Low Balance protection- Users can set a limit below which if the amount falls in the checking account, Digit can transfer savings from a pre-selected goal and notify user of the low balance. Helping users to plan for potential large expenses and overdrafts

• No-overdraft guarantee – In the very unlikely event your account is overdrawn by Digit auto-saving, we’ll reimburse the fees for up to 2 instances of overdraft

• 1% APY Savings Bonus

• Tell Digit if you want more/less savings

• Change the savings aggression — tell Digit to “Save More” or “Save Less” by texting in or messaging in app

• Pause Digit savings on if you’re running low on cash by texting in or messaging in app

• Set a Checking minimum – tell Digit the minimum amount of money you need in your bank account

• Faster transfers – Wells and Chase customers can receive their withdrawals same-day. (We’re working on partnering with more banks to bring this option to more users)

• Referral bonus – earn $5 for every friend who signs up for Digit

Outcomes

• Digit saves the average user $2500 in a year

• To date, we have saved $1 billion for our users

Demographic: Young (18 to 35), urban population