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SmartyPig - Online Savings Account
By alan | March 24, 2008
Bankaholic.com just introduced me to one really neat idea! It’s a cross between an online savings account and a social network site. Neat eh? Checkout what Bankaholic people have to say about it.
*This service is available to US Citizens only!*
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A Fun Twist on Savings Accounts
You open an account with a minimum deposit of $25. Deposits are funded through ACH bank-to-bank transfers. Your money gets stored at West Bank, an FDIC insured bank. The best part is that you earn 4.30% APY interest (as of 3/22/08).
SmartyPig has some social-networking that differentiate them from traditional high interest savings accounts
- You can set up a savings goal. Ie, if you need $1000 for rent or $1500 for a plasma TV
- You can make your goals public so that your friends and family can see what you are saving $$ for.
- People can give you $$ to help you reach your goal. Ie, if grandma sees that Junior is saving up $100 for a new tricycle, grandma can use SmartyPig to give Junior some cash. You can also add-on SmartyPig’s Facebook and Myspace applications to share your savings goals with the world. Who knows who might be inclined to help you out with some money?
- If you decide to cash out your money in the form of a gift card (ie, Home Depot, Best Buy, etc) you can get up to 5% extra.
If you have an account with SmartyPig, you can contribute to other SmartyPig customer’s savings goals for free. Alternatively, you can contribute via credit card for a 2.9% processing fee. (If you use a 5% cash back credit card like the Citi CashReturns card, then you can actually make a few bucks.)
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If this interests you visit SmartyPig’s website at:
Topics: Bank Accounts, Save Money |
March 24th, 2008 at 12:47 pm
loool Incredible Alan… I was posting the same videos in my Blog searching youtube!!!, of course I stopped now. Seriously.. it´s incredible!! ¿coincidence? lol
March 24th, 2008 at 1:24 pm
You spooked me out Jose :p Hopefully it’s a coincidence otherwise I’m running for the book of magical spells to prevent weird coincidences. I believe in the new age community this phenomenon is called “synchronicity”. Look into it. In case you’re thinking, no, I’m not a new ager.
March 25th, 2008 at 6:28 pm
This is for US resident only.
March 25th, 2008 at 11:26 pm
Ooops..forgot to mention that. I shall correct.
April 15th, 2008 at 5:24 pm
To bad only for US Residents only but the idea is great.
April 16th, 2008 at 7:13 am
I know :( As you say it is a neat idea though.
Thanks for visiting my blog Walter.