Smarty Pig Review

Click here to sign up for a online bank account with Smarty Pig if you want to skip the review.

FDIC Insured.

Your money is safe and secure with Smarty Pig. The funds are held at West Bank and are FDIC insured up to $250,000. I don’t know about you guys but I sleep better at night knowing that my money is secure if anything were to happen.

You can set savings goals.

We all have different goals when it comes to saving money. Whether you need $1,000 for spring break in Cancun, $2,000 for baby products in 9 months, or a new $600 laptop to improve your gaming experience, Smarty Pig is there to help you set a goal. I personally find that saving money becomes so much easier when you have goals in mind. Saving money for no reason is boring. Saving money for a min-retirement or a trip across Europe is really fun.

How do the savings goals work?

You set a goal for money you will save, anywhere from $250 to $250,000. The initial deposit for your goal(s) needs to be $25. After that you must add an extra $10 + your savings interest towards your goal. Once you hit your goal you have a few options. You can continue further with saving money, you can convert it into a gift card with one of the partners, or you can simply have the money transferred back to your regular bank account (free of charge, a new feature).

You can get social.

The coolest feature of Smarty Pig is the fact that you can share your goals with friends and family. At first I thought this was strange but then again I guess it depends on your friends and family. The people that you trust can be given access to see how your doing with your savings goals. This can be very good but it can also be very bad. The good part is that your friends will hopefully motivate/support you with your goals. The bad part is that if you mess up everyone will know.

You can also connect your Smarty Pig with FaceBook, MySpace, and other social media outlets. This is for the really transparent folks out there. Not me.

The whole concept of Smarty Pig makes me very envious that I don’t live in the United States because it seems like a really cool online bank account. If you have used Smarty Pig or have any experiences to share, then please leave a comment.

Click here to sign up for a online bank account with Smarty Pig.