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What is Dobot?
Dobot is an easy-to-use financial app that helps you save money for the things that matter most.
How does Dobot help me save money?
Dobot helps you save by visualizing your goals, and then makes saving easy by automating it. Just connect your checking account, and Dobot goes to work.
- • Smart Savings – Dobot does all the work. Every few days, Dobot will calculate “safe savings amounts” and automatically move small amounts of money into your Dobot savings.
- • Scheduled Savings – You set your schedule. Just select how much and how often you’d like to save, and Dobot will take care of it automatically.
- • Save On Your Own – You are always free to save by transferring funds directly into your Dobot savings. Open the app and ‘Add Money’ from your goals, or just send a text like “Save 20” and Dobot will take care of the transfer for you.
What should I use Dobot to save for?
Anything you want! Whether you're saving for a vacation, planning a wedding, building an emergency fund or boosting retirement savings, your Dobot financial goals are only limited by your own imagination.
Is Dobot safe?
Yes, very. We use a variety of measures to anonymize and encrypt your personal information before it's stored on our secure servers, and we never store bank account log-ins. Your Dobot savings is kept in a bank with all its inherent protections and is FDIC-insured.
DOES DOBOT CHARGE FEES?
Nope. Dobot is FREE to use.
How to Save with Dobot
HOW OFTEN DOES DOBOT SAVE?
- • With Dobot Smart Savings, Dobot looks for opportunities to save every few days. You’ll typically see transfers a couple times per week, often on Mondays and Thursdays.
- • With Scheduled Savings, you’re in complete control. Dobot saves on the days you choose.
HOW MUCH WILL DOBOT SAVE?
- • With Dobot Smart Savings, the amount will vary depending on the algorithm, but is usually between $5 and $25.
- • With Scheduled Savings, it’s up to you. Provide the amount and Dobot takes care of the transfer.
HOW DO I KNOW HOW MUCH I’VE SAVED?
You'll receive a weekly text message every Friday indicating how much money you saved that week, and you always have access to your savings activity in the app. You’ll also receive a monthly email highlighting your savings activity. Finally, you can text ‘Savings’ to Dobot at any time to receive your account balance.
CAN I ADD OR WITHDRAW MONEY ANYTIME?
Of course. You can always move money from within the app, or you can text Dobot with a message to ‘Save’ or ‘Withdraw’. We’ll make sure your money gets where it needs to be.
HOW LONG DOES IT TAKE TO MOVE MONEY?
When saving, if the transfer is initiated before 6pm ET, it usually takes 2 business days for your funds to arrive within Dobot. Thus, your Dobot savings may include pending transfers, which cannot be transferred back into your bank account. Once the funds arrive, however, they are immediately available to be withdrawn. If you request a withdrawal before 6pm ET, your funds will typically arrive in your checking account the next business day.
CAN I PAUSE DOBOT SMART SAVINGS?
You're in complete control. You set your savings preferences. At any time, you can set Dobot Smart Savings or Scheduled Savings to On or Off.
WHAT IF A TRANSFER FAILS?
There are two primary reasons for a transfer failure:
- 1. If a failure occurs attempting a transfer to Dobot, there may be insufficient funds in your checking account
- 2. A lost connection to your bank
If a transfer fails, it is not automatically re-attempted. If you have Dobot Smart Savings turned 'On', then another transfer will be auto generated within a few days. The algorithm for the automated savings takes into consideration your current checking account balance, so it may not generate a transfer if the balance is too low.
WILL DOBOT CAUSE AN OVERDRAFT OF MY ACCOUNT?
For users of Dobot Smart Savings, our algorithm is designed to not overdraft your account. We only move small amounts - we call these “safe savings” amounts. On a rare occasion, Dobot fails to predict the movement in your checking account and can cause an overdraft fee. In this case, it's our fault and we will cover the overdraft fee for the Smart Savings transfer. Just use the contact us feature within the app to let us know. Dobot transfers that are manually created, meaning they are not created by the Dobot Smart Savings functionality, could result in an overdraft that would not be covered.
Getting Set Up
WHAT ARE THE REQUIREMENTS TO USE DOBOT?
You need to have a checking account from a U.S. financial institution. You also need to be 18 years of age with a valid U.S. mailing address.
HOW DO I CONNECT MY CHECKING ACCOUNT WITH DOBOT?
It's easy. First, you download the app. Then create your Dobot account and establish your goals (don't forget to add photos!). The last, and most important, step to reach your goals is to connect your checking account. Simply select your bank from our list of thousands of supported banks, enter your credentials, and you’ll be on your way.
CAN I CONNECT MORE THAN ONE ACCOUNT?
To ensure that we comply with anti-money laundering regulations, you are limited to connecting a single account.
WHICH BANKS CONNECT WITH DOBOT?
Dobot connects with nearly 10,000 financial institutions in the United States. If you are unable to find your bank when connecting, send us your bank's name and we'll let you know when it becomes available.
CAN I USE A PREPAID CARD?
Unfortunately, prepaid cards are not fully supported and often fail. Our terms of service state that your funding source must be a checking account from a United States financial institution.
HOW DO I REFER A FRIEND?
You can share Dobot with your friends and help them start saving too! Look for the “Invite Friends” link in the Account section of the app to share your unique referral link.
For every new user that signs up completely with your referral code, you'll be rewarded with $5 into your Dobot account! Once your friend's account is complete and they have made their first savings transfer, you'll see your referral bonus in your Dobot savings within 30 days. You can earn up to $500 in referral bonuses per year!
WHY HAVEN'T I RECEIVED MY REFERRAL BONUS?
To receive your referral bonus, both you and your friend must connect their bank account to Dobot and complete a savings transfer. Once that occurs, the referral bonus will be paid to your Dobot savings within 30 days. Thanks for sharing Dobot with friends and family!
WHY HAVEN'T I RECEIVED MY BONUS FOR SIGNING UP?
When a friend refers you to Dobot, you must use the link, or code, they provided to receive your bonus. If you used the link, the phone number entered must match the phone number used to create your Dobot account. To receive your bonus, you will need to fully connect your bank account (only US based bank checking accounts are acceptable) and have made your first savings transfer into your Dobot account. Once your account is complete and you've made your first savings transfer, your bonus will become available to you within 30 days.
WHAT ARE THE TERMS AND CONDITIONS OF THE REFERRAL PROGRAM?
CAN I USE DOBOT IF I LIVE OUTSIDE THE US?
Unfortunately, Dobot is only available to U.S. residents with a U.S. bank account at this time.
CAN I GET UPDATES WITHOUT OPENING THE APP?
You bet. Text Dobot and use the following commands:
- • Activity - view your 3 most recent transactions
- • Savings - view your Dobot savings balance
- • Save 10 - to save $10 (or any amount)
- • Tip - receive helpful insights about your financial health
- • Joke - just in case you need a laugh
In addition, we'll prompt you with other commands when following up regarding specific issues or opportunities.
HOW DO I CLOSE MY DOBOT ACCOUNT?
To close your account just message us from inside the app (it's the easiest way).
Just tap into your account, then select Contact Us and you can send us a message. If you don’t have the app, send us a message on our contact page. Please provide the email address and phone number you used to create your Dobot account.