Everyone aims to save money for a rainy day, as you never know what may happen in the future. But most banks don't do anything to help you save any money. And their interest rates are also pretty low, so you're not making much by keeping your money in a savings account. This is where Digit comes in and tries to do something different. What Digit does is it will automatically transfer money from your checking account, over to your Digit account to help you save money. It does this intelligently by analyzing your account and determining whether you would miss this amount of money. Now you aren't losing that money for good, because it's going into your Digit account, which you can then transfer back into your checking or savings account at any time. This is to help you save money.
Every few days, Digit will transfer money from your checking account over to your Digit account, usually these amounts are between $2 and $17 and could even be less. Of course, you won't need to worry about over-drafting as Digit does not withdraw more than you can afford, and the smaller the balance in your account, the less it'll take. When Digit first launched, it did not use an app. Instead everything was done through SMS and their own website. Now with their app you can easily see how much money you have in your Digit account. You can also withdraw it to your checking account at any time. The Digit app gives you the ability to save more or less each month as well. Digit secures everything using 128-bit SSL encryption and also they are FDIC insured on balances up to $250,000. Currently they are saving over $100 million per year for their members, which is pretty impressive to say the least.
If you have trouble setting aside money into a savings account, then Digit might be the way to go. It works really well, and it's pretty seamless. Their app is currently still in beta, but should be leaving beta pretty soon, and it's definitely worth checking out. It's completely free, with no in-app purchases.