This is what separates SmartyPig from other savings accounts. Create a Savings Goal – In the next step you are required to create an actual savings goal for your money. Just give SmartyPig the routing and account numbers.ģ. So, all you need is a regular checking or savings account already set up somewhere else, and you’re good to go. This is the account that can also be used to periodically fund the SmartyPig savings account. Connect a Funding Account – Once you have the account set up, you are then asked to connect with an account where you will ACH the initial deposit from.
You provide some basic information, including your SSN, driver’s license, and date of birth. Basic Info – The initial application process is similar to that of any other online savings account. Today I signed up with SmartyPig and walked through the sign up process. All of your funds are actually held by West Bank and your funds are FDIC insured up to the legal limit of $250,000. banking partner is West Bank, a subsidiary of West Bancorporation, Inc. SmartyPig is a Des Moines, Iowa based company that allows you to open a goal-based savings account that can be attached to social networking features (Facebook, MySpace, Blogger, Google, etc.) allowing your friends and family to view and even contribute to your savings goals.
Currently, one of the highest on my list. And they offer a very competitive interest rate. I know it doesn’t sound like a bank, but it is. I’ve added a new bank to my list of top high-yield online savings accounts. This is my review of the SmartyPig Savings Account.
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