Plain Savings Account Without Goal?

  • Question
  • Updated 6 years ago
  • Answered
Is there a way to have a plain savings account, without having to have a goal amount nor date, nor automatic funding?

Say that I already have enough funds saved, but I do not want to spend the money yet, so I want to just park the money in a very liquid and high interest account.

Is this possible with SmartyPig???
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Avi Carmi

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  • unsure

Posted 6 years ago

  • 2
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John Grask, Employee

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@Avi Carmi,

SmartyPig is a goal based savings program and is unlike your typical bank account. SmartyPig uses a combination of an initial deposit and monthly contributions to help people meet their savings goals. Automatic monthly contributions are required until the goal has been met.

Once you have met your goal, your recurring monthly contribution will stop. However, you can certainly let your money sit in your goal and it will continue to accrue interest.

You may redeem your funds at anytime by closing your goal, however partial withdrawals are not allowed.

And please keep in mind that you can continue to add money to your goal anytime. Up to $50,000 per day.

Please watch our videos on this page for more information.They are very helpful in understanding how SmartyPig works:
http://www.smartypig.com/about/features

If you have any further questions or concerns, please do not hesitate to contact myself or a member of the SmartyPig customer support team at 888-567-6278, or contact us at support(at)smartypig(dot)com. Thanks, John
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Mike Ferrari, Co-Founder

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Official Response
@Avi,

I'm jumping around to a number of past threads as I thought you would be interested in some exciting new news. Today we launched a number of new features, including new retailers and higher boosts, additional withdrawal options (ex. once a month, twice a month, every 14 days and none), the ability to set your own recurring dollar amount, ability to transfer from one goal to the next, and when it comes time to close your goal the ability to parse your savings across all three redemption options. Please click on the link below to read all about it on our blog.
http://blog.smartypig.com/read/exciting-new-features-go-live


Thank you.

Mike Ferrari, SmartyPig co-founder
@mferrari