So, how is Dobot working out for me? I’ve had the app running in the background for a while now and it’s been saving a solid chunk of money for me without me even noticing it, typically around $20 every few days. With Dobot, you can pause your savings indefinitely if you need to. Digit only allowed you to pause your savings temporarily, which was sometimes problematic if you needed to stop using the app for a while. The ability to toggle automated savings on and off is nice. When you’re ready to start saving, all you have to do is link your primary bank account to Dobot and then activate your automated savings in the savings preferences screen. Your browser does not support the video tag. Here’s a video from dobot explaining how the app works if you’re still curious: So, let Dobot do its magic and over time you’ll have a bunch of money saved away without even realizing it.
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And if you want to add more money, you can transfer funds directly into your Dobot savings whenever you want. Every few days, Dobot will move small amounts of money into your Dobot savings. After you connect your checking account, Dobot’s algorithm goes to work analyzing your spending patterns to calculate “safe savings amounts” that ensure you have enough to meet your spending needs while still saving. As explained by Dobot:ĭobot helps you save by visualizing your goals, and then makes saving easy by automating it. Just like with Digit, Dobot is an app that monitors your bank account and intermittently saves away small amounts of money for you based on your cash flow. So, let’s take a look at the new, fully revived Dobot app, explain how it works, and discuss why I think you should use it. Plus, if you use my Dobot referral link, Dobot will give you $5 in your Dobot account once you open your account and make your first transfer. It’ll help you save just a little bit more money each month. Now I’m back to using Dobot again and I figured I’d share my experience with the new Dobot app and explain why I think Dobot is the perfect alternative to Digit and an app that should be part of your money system.
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It’s the perfect alternative for folks looking for a free savings app with all of the same functionality as Digit.įor a little while, Dobot fell by the wayside when they also started charging fees, but it was revived in 2019 when Fifth Third Bank bought the app and made it free again. Paying to save my own money is a no-go for me, so I went on a hunt to look for Digit alternatives. Unfortunately, Digit eventually decided it needed to make some more money and ended up changing its business model so that you had to pay a monthly fee to use its services. By combining these two types of apps, I was able to save a decent chunk of change pretty effortlessly. And then I had Digit sweeping out excess money from my checking account and saving it away for me. I had an app called Qapital that rounded up all of my purchases to the nearest dollar and saved the spare change for me. During the two or so years that I used Digit, I was able to save more than $8,000, all without even noticing that I was saving extra money.įor a while, I had a pretty good microsaving system set up. The way Digit worked was that it analyzed the cash flow and spending on my bank account using a proprietary algorithm, then every few days, it would save away small amounts of money for me that it didn’t think I needed. Not too long ago, I was an avid user of an app called Digit. You can read my full, in-depth review of Albert here. If you’re looking for a free alternative to Dobot, I highly recommend checking out Albert.
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This is a real bummer, as Dobot was a great app. Update: Unfortunately, Fifth Third Bank – the bank that bought Dobot – announced on May 5, 2021, that they will be shutting down the app.