SmartyPig: One Smart Piggy Bank!

I discovered SmartyPig sometime ago while surfing the internet. It is an online “savings program”, or online bank, that offers one of the highest interest rates around. I didn’t want to recommend the site until I had tried it out myself and now I can!

Below is what I discovered:

• Its FDIC secure so you do NOT have to worry about losing whatever money you deposit into it.
• Its FREE to open up an account. The account must be set up with $25.  It is also FREE to withdraw from the account.
• It allows you to save for a specific goal or goals. (I love this!) You set the time frame and it will calculate how much you have to deposit by said date. You can then set up a direct deposit for the calculated amount or a different one! NOTE: If you do an automatic deposit, it will stay in effect until you reach your goal or cancel the account.
• It allows you to visually track your progress. This is great if you are like me a visual person.
• It allows OTHER people to deposit money into your account. You can even promote it on your website, blog, Facebook or MySpace page. Now instead of presents or drinks for your birthday, your friends and family can deposit funds directly into your account!  
• It allows you to withdraw your money in three different ways: (1) SmartyPig Debit Card, (2) Deposit into an existing checking or savings account, and (3) Deposit funds into retail gift cards for up to 6% more!  The gift card seems great if you are purchasing an item    NOTE: SmartyPig doesn’t do partial withdrawals. You must withdraw the full amount.
• As of August 4, 2009, it has the HIGHEST rate out there: 2.75%!  
• You can purchase SmartyPig Gift Cards to give as gifts. The cards are FREE if you have an account with SmartyPig. If not, you have to pay.

SmartyPig also has other perks. If you follow them on Twitter, which I highly suggest you do, they hold monthly twitter contests where you can win money. In July, they gave away $300!  Sadly, I didn’t win but just like the Lotto you can’t win it if you’re not in it.  😉  So make sure you open a twitter account and follow them. While you’re at it friend me and send me a tweet (short twitter message). My name is @MsLatina.

To find out more about SmartyPig or to open your own account, click HERE.

To follow SmartyPig on Twitter, click  HERE.

Hope this helps you reach your goals and stash more ca$h!