The Oportun charge on your bank statement is most likely the $5.00 monthly subscription fee for Oportun’s automated savings app, formerly known as Digit. It can also be a transfer of your own money moving from your checking account into an Oportun savings balance. Both show up under the Oportun or Digit name, which is why the entries look confusing.
Fee or Transfer: Which One Are You Seeing
Two different Oportun entries appear on bank statements, and they mean different things.
The first is a flat $5.00 monthly subscription fee. It’s billed after an initial 30-day free trial and hits every billing cycle after that, whether or not the app moved any money that month. Existing Oportun personal loan and credit card customers get the first year free, and the fee begins once that year ends.
The second type of entry is a varying dollar amount transferred from your checking account into your Oportun savings balance. That is not a payment to Oportun. It’s your own money being set aside by the app’s algorithm based on your income, spending, and upcoming bills.1Oportun. Oportun Savings The transfers happen at irregular intervals and in different amounts, so they can look unfamiliar even though the money is still yours.
How to Cancel the $5.00 Subscription
You have two ways to cancel. You can do it inside the Oportun app, or you can email customer service at [email protected].2Oportun. Oportun Set and Save Terms and Conditions If you email, include your full name, address, the phone number on the account, and the last four digits of your account number.3Oportun. Contact Us
Canceling the subscription and closing the Set & Save account are separate actions. You can stop the $5.00 fee and still keep the savings account open long enough to withdraw your balance on your own timeline. Closing the entire Set & Save account is also done through the app, but that option isn’t available if you have an active Oportun loan.2Oportun. Oportun Set and Save Terms and Conditions Any automated transfers already in motion when you cancel will still post. You can pull those funds back once they settle.
Getting Your Money Back
You can withdraw at any time using the withdraw feature in the app. Withdrawals go to your linked bank account by ACH and may take three to five business days to arrive.2Oportun. Oportun Set and Save Terms and Conditions
When you close the Set & Save account, Oportun sends your remaining balance to your linked bank account, minus pending debits or any funds restricted by a court order. If the linked account is gone or the transfer fails, the company mails a physical check or issues an electronic check to the address on file. Oportun may also wait for pending transactions to finish before completing the closure.2Oportun. Oportun Set and Save Terms and Conditions If you’re canceling, the cleaner approach is to withdraw your full balance first, wait for it to land in checking, and then close the account.
If the Charges Keep Coming After You Cancel
You can stop the debits through your own bank without needing Oportun’s cooperation. Under federal rules for preauthorized electronic fund transfers, your bank must honor a stop-payment order if you notify them at least three business days before the next scheduled debit.4Consumer Financial Protection Bureau. 12 CFR 1005.10 – Preauthorized Transfers You can give the notice by phone, but the bank may require written confirmation within 14 days. Skip the written follow-up and the oral order expires.5Consumer Financial Protection Bureau. Comment for 1005.10 Preauthorized Transfers – Section: 10(c) Consumers Right to Stop Payment
The law doesn’t require you to notify the merchant for the stop-payment order to be valid. Your bank must block further transactions going forward, and you can dispute any charges that post after you’ve revoked authorization.6HelpWithMyBank.gov. How Can I Stop a Preauthorized Debit A written stop-payment order typically expires after six months, so you may need to renew it if the problem isn’t fully resolved by then.
If You Never Signed Up
Federal law requires any company pulling recurring payments from your bank account to first get your written authorization and give you a copy of it. That applies to both the $5.00 subscription fee and the automated savings transfers.7eCFR. 12 CFR 1005.10 – Preauthorized Transfers If you signed up through the app, your electronic agreement at registration counts as that authorization. If you genuinely never signed up and Oportun charges are still showing on your statement, treat it as unauthorized: file a dispute with your bank and report the transactions, because no company can start recurring debits without authenticated consent from you.