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I have to say goodbye, here's why.
I really liked your approach but unfortunately I've decided to close my account and move my money elsewhere because there are just too many restrictions on what I can do with my money and when.
Case in point - I can't even get to my money now; according to the website I have to wait a week to close my goal because I have a deposit that should have posted yesterday and "Goals cannot be closed until all funds have cleared and are verified by our partnering financial institution". And who knows how much longer it will take to have access to my money after I close the goal?
I really need to be able to move my money wherever I want whenever I want to, and there are reward checking accounts that let me do this while offering even a higher interest rate. Hopefully you guys can work some of this out and maybe I'll be back later. I hope the feedback is helpful for you.
Case in point - I can't even get to my money now; according to the website I have to wait a week to close my goal because I have a deposit that should have posted yesterday and "Goals cannot be closed until all funds have cleared and are verified by our partnering financial institution". And who knows how much longer it will take to have access to my money after I close the goal?
I really need to be able to move my money wherever I want whenever I want to, and there are reward checking accounts that let me do this while offering even a higher interest rate. Hopefully you guys can work some of this out and maybe I'll be back later. I hope the feedback is helpful for you.
I’m disappointed
1
person has this problem
I have this problem, too!
Tell me when someone solves it.
The more people who report this problem, the more it gets noticed.
The more people who report this problem, the more it gets noticed.
The company thinks this is not a problem.
The best solution from the company
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@Alan,
Thanks much for the feedback Alan. It's always helpful. I would agree that SmartyPig is not the solution to best fit your described needs.
Thanks again for reaching out...
Michael Ferrari, co-founder
The company says
this solves the problem
Create a customer community for your own organization
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Inappropriate?@Alan,
Thanks much for the feedback Alan. It's always helpful. I would agree that SmartyPig is not the solution to best fit your described needs.
Thanks again for reaching out...
Michael Ferrari, co-founder
The company says
this solves the problem
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Inappropriate?The problem with rewards checking accounts is that you have use their debit card at least 10 - 12 per month which pretty much negates using that as a high interest account if you are hitting it that many times per month. I personally like the fact that it takes a little longer to get the money back to my checking as it make me question whether I really need the money from my savings.
Thanks,
Kevin -
Inappropriate?I actually moved to SmartyPig from DollarSavingsDirect after noticing that DSD's terms of service contained the following:
The Bank may refuse to permit withdrawals in cases such as, but not limited to, the following:
1. The Bank chooses to exercise its legal rights to require up to 60 days advance written notice of any intended withdrawal from this Account and the 60 days have not passed since we received the required notice from you
[...]
So be sure to always read the small print, wherever you go.
I’m cautious
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Inappropriate?I have the same problem. I have money floating between my bank & smartypig for several days now. I set this up to save money for my son's car.I wanted to cancel this so I could withdraw the funds & pay for a car we found. I have to wait for the money to be deposited into smartypig and then wait 5-7 days to withdraw it from smartypig & put back to bank account. It has been 4 days since I set this up to withdraw 3000 from my checking. Well its obvious that the car will be gone by that time. This is ridiculous with the computer technology we have. This is not at all convenient. I will not do this again.
I’m irritated
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Inappropriate?I have to agree to some extent. Even though I was well aware of the 5-7 business days to get my money back, this is nothing more than the company dragging its heels - ACH transactions are pretty much instant.
However, I do like the simplicity and layout of the site - the only reason I closed one goal was that I could obtain a better rate elsewhere. At the end of the day, higher rates trump virtually everything else!
I would disagree with Kevin - using a card 10 times per month has little impact, apart from being a slight inconvenience, and the difference 1.5% extra interest makes on $tens of thousands is not insignificant.
I’m indifferent
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