Comments on: SmartyPig’s 3.25% Savings Account

By: Concerned Saver

Concerned Saver — Fri, 03 Apr 2009 20:04:34 +0000

To add to what Berty wrote –
When wanting to transfer funds, you have to close your goal. Interesting point – you are unable to close your goal while a transaction is pending, i.e. monthly debit, which I just found out takes up to seven days to clear. They really want to lock you in…what a brilliant pig.
At 3.05% it isn’t worth the hassle…there are other options in that range.

I’m getting out of the Pig Pen as fast as I can!

By: James

James — Sun, 29 Mar 2009 17:20:06 +0000

It will be 3.05% on April 1.

By: Berty

Berty — Thu, 26 Mar 2009 15:18:55 +0000

Be warned with this though as they dont make it at all clear: You cannot remove part of your money, you have to close the entire goal and withdraw the whole amount. Why they have a tab for ‘Buffer Savings’ and then make you take $2000 when you only need $150 is beyond me. You also cannot switch off the monthly debits unless you close the goal. and then when you do that you stop getting interest. Weird system…but good interest rate while its running.

By: Diane

Diane — Thu, 12 Mar 2009 16:00:52 +0000

Vince – just to let you know I checked the smartypig website and there is the option to “transfer your savings plus interest back to your existing checking or savings account.”

By: Vince

Vince — Wed, 11 Mar 2009 01:49:16 +0000

I want my $$ back; who wants a debit card; maybe I want to invest my piggy droppings somewhre else

By: D

Wed, 04 Mar 2009 15:24:30 +0000

I have been with them for 6 months now and have not had one problem. It is a great rate, was at 3.9 last quarter. Anytime I have a had a question, customer service has been prompt and courteous both by phone and e-mail. Highly reccommend to anyone!

By: marketsense

marketsense — Tue, 03 Mar 2009 18:01:27 +0000

I applied too and had trouble with the site. Will try again today – this is a good rate.

By: Ed B

Ed B — Tue, 03 Mar 2009 15:54:36 +0000

Its a variable rate and is subject to change like all of the others. But when I asked about it’s stability, they gave me the history of change and it hasn’t changed that frequently.

As of last night, there is no provision to setup a beneficiary on the account and I also had issues with the calculation on initial deposit and my goal. Kept getting errors. I reported it to Customer Service and it appears the site is down for maintenance this morning.

But still the best rate around.

By: BloggingBanks

BloggingBanks — Tue, 03 Mar 2009 08:53:35 +0000

That’s an interesting concept. How long is the 3.25% APY valid for?

By: Ed B

Ed B — Mon, 02 Mar 2009 20:55:19 +0000

Glad you guy’s picked this up after my post yesterday. Best return I could find on the Internet.

To close your goal, simply click on Stop Goal. You will then have the option of receiving your current savings plus interest on the SmartyPig MasterCard® Debit Card, the gift card of a best-in-class retailer partnering with SmartyPig, or you can ACH the funds back to your existing checking or savings account.

Read the Frequently Asked Questions at :

https://www.smartypig.com/about/faq#70dd1ca4-efbd-4194-af6c-58852a1cd36f

By: dealster81

dealster81 — Mon, 02 Mar 2009 18:41:37 +0000

Great rate on a savings account! I submitted it to BankFiesta to share with others. Cheers.