![]() ![]() ![]() Once that trial period ends, the app helps you bank, budget, save and invest for a fee of $5 per month.įor some, it may seem counterintuitive to pay for a budgeting app. Oportun is free for the first six months. However, the Oportun app states clearly in its terms that no method of transmitting or storing information is 100% secure. When your information is transmitted between Oportun and your financial institution, it will be encrypted as well. Oportun provides users with a fully encrypted app. The savings account pays a savings bonus of 0.10% APY, which is paid out every three months so long as you save for three consecutive months. This means your funds are protected up to $250,000 per depositor, per bank, for each account ownership category, in the event of a bank failure. The savings account within the Oportun app redirects to one or more banks, which are FDIC insured. Funds from your Oportun accounts can be moved back to your linked account at any time.Īs part of establishing savings goals, you also can identify debt-such as student loans or credit card debt-that you want to reduce, helping ensure your budget has a solid foundation. Then it automatically withdraws money you can safely save and deposits it in the Oportun account you specify-either the Oportun savings or retirement account. The app uses machine learning to analyze your linked bank account each day, accessing your spending habits and balance. Oportun, formerly Digit, intends to help you achieve your short- and long-term financial goals.
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