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Updated on February 16, 2011

Looking for an easier way to save money for a special occasion, purchase or whatever you want? The SmartyPig is a free online piggy bank that can help you put money away while letting it build to an amount you will need for a future event or merchandise purchase. Within your free account you can establish specific financial goals and set up automated transfers from an existing savings or checking account. The monies you transfer and deposit into your Smarty Pig account earns interest too. You can also let friends and family know what your goals are and they can contribute a monetary amount to your savings account.

The money that you have on deposit is FDIC insured and you also earn an interest rate on your balance. You can see their official website at, where you can also create your account and establish your savings goals. They state on their web site that set up is quick. When you create an account, you can also setup your financial goals and then start saving. You can contribute at anytime. Your family and friends can also add money to your savings account. Some may find this a convenient way to give a gift and to help you plan for an event or specific goal. The monies that you deposit are with BBVA Compass Bank, member FDIC.

Smarty Pig - Online Piggy Bank

When you have saved the money you will need, Smarty Pig provides you with three different options and ways to access your funds. The first option is to put all of your savings plus interest onto a SmartyPig Mastercard debit card. The second redemption option is to have your money sent to your regular bank. The third option is to place your money savings value onto a retail buying card such Macy's,, Best Buy and others. When redeeming as a retail card, you may even be able to increase your value by up to 12 percent.

This is a unique savings program and an interesting way to save money for a future need. For those that like something different it may be a way to help you put some dollars away each month into a savings account that grows with the interest earned. The online piggy bank and financial account is free. The minimum requirement for a savings goal is $250 and the maximum goal is $250,000. The average interest rated earned on your monies is set by their banking partner, which is BBVA Compass. Before making any financial decisions it is only prudent to read all terms and conditions, which is available at their website.

Disclaimer: The content of this page is not affiliated with the company names or products discussed, listed, presented or shown. The information provided is for general information purposes only and without warranties of any kind. Company names and products shown may be trademarks of their respective owners.


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