Does anyone use SmartyPig?

[worm761]

I was just looking at this site and wondering if it is as good as it sounds.

 

[Jonathan Swift]

I was just looking at this site and wondering if it is as good as it sounds.

It's looks like a savings account that yields 1.00% APY. That's not bad in today's world of interest rates, but why settle for a savings account? You can get a checking account through Bank of Internet that can pay up to 1.25% APY. In order to get that rate, you will have to have direct deposit, and use the ATM card to buy something once a month, I think. The best thing about that account is no overdraft fee and you can use any ATM because they refund you the ATM charges.

https://www.bankofinternet.com/personal-banking/checking/rewards-checking

 

[platamama]

I did use Smarty Pig back in 2011 when the interest rates were higher. But in the few months I had the account, the interest rate just kept dropping so much it wasn't worth the effort to keep track of an extra account. I ended up closing it at the end of 2011.

However, it is legitimate and an easy website to navigate. I had no problems with any transactions or "savings goals" that I set up.

 

[irishone21]

I have several 'accounts' at SmartyPig, one of them being a vacation acct. It gives you a decent interest rate and is really easy to use. The $ gets deducted from my checking acct. every week so I don't miss it at all. I'm not the kind of person who can have envelopes of cash sitting around, I eventually dip into it for something. So, this puts the money out of sight, yet it is easy enough to cash in when you reach your savings goal.