Is SmartyPig legitimate?
SmartyPig deposits are held and insured through Sallie Mae Bank, an FDIC-insured institution.
Is SmartyPig by Sallie Mae safe?
SmartyPig online savings accounts are securely held at Sallie Mae Bank and are FDIC-insured up to the maximum amount allowed by law.
Does SmartyPig compound everyday?
SmartyPig limits your account balance to a maximum of $250,000. Interest is compounded daily and credited monthly. After your initial deposit, you can set up recurring contributions to your savings account either monthly or biweekly.
How does SmartyPig make money?
According to CEO, Bob Weinschenk, SmartyPig makes money through their redemption program. Customers get an extra cashback boost if they choose retail gift cards as a way to spend their funds, then the company gets a marketing fee commission for the transaction.
Is SmartyPig a good savings account?
Sallie Mae SmartyPig offers an excellent high-yield savings account, paying one of the highest interest rates available. There is no minimum balance requirement to open an account and no monthly fee.
What is SmartyPig interest rate?
1.90% APY
SmartyPig Accounts are offered through Sallie Mae Bank, Member FDIC.
How do I withdraw money from SmartyPig?
Withdrawing is easy. Simply initiate a transfer from your savings Goal and as long as the funds are available, they will be transferred back to your External Funding Source.
Is SmartyPig free?
SmartyPig is a free, FDIC-insured online piggy bank that helps you save for long- and short-term goals. The more you save, the more interest you’ll earn with our tiered interest rates.
How long does it take for SmartyPig to deposit money?
How long will it take for my deposit to post to my Account? Electronic transactions initiated through the SmartyPig Online Banking Dashboard will normally take two (2)-3 Business Days to post to your Account.
Is SmartyPig FDIC insured?
SmartyPig is a free, FDIC-insured online piggy bank that helps you save for long- and short-term goals.