
For example, Simple partnered with Bancorp a few years back and not only was the transitional period a hellish few months. Although the official announcement has a very positive tone to it, I am not so sure this will be a positive move. Advertised Interest Rates and Annual Percentage Yields (APY) for the SmartyPig Account are variable and may change after account opening, are based on your aggregate account balance on all your SmartyPig goals (including your Primary Account) plus your month to date accrued. Please refer to the SmartyPig Account Terms and Conditions Agreement for details. As you can see here, SmartyPig announced that their accounts will be held with Sallie Mae starting this year. SmartyPig Accounts are offered through Sallie Mae Bank, Member FDIC. If your daily balance is more than $50,000 the interest rate paid on the entire balance in your account will be 1.88% with an annual percentage yield of 1.90%. If your daily balance is more than $10,000 but $50,000 or less the interest rate paid on the entire balance in your account will be 1.93% with an annual percentage yield of 1.95%. If your daily balance is more than $2,500 but $10,000 or less the interest rate paid on the entire balance in your account will be 2.03% with an annual percentage yield of 2.05%. The money is stored in SmartyPigs FDIC insured partner, BBVA, just like a regular savings account at any other bank. If your daily balance is more than $0 but $2,500 or less the interest rate paid on the entire balance in your account will be 2.03% with an annual percentage yield of 2.05%. When you’re ready to cash in on the money you’ve saved up, you have three options: 1) Retail gift card and get a cash bonus of up to 14 percent, 2) a SmartyPig Mastercard debit card, or 3) Bank transfer deposit. The ongoing APYs and Interest Rates associated with different account balances are: SmartyPig Accounts are offered through Sallie Mae Bank, Member FDIC.ġ Advertised Interest Rates and Annual Percentage Yields (APY) for the SmartyPig Account are variable and may change after account opening, are based on your aggregate account balance on all your SmartyPig goals (including your Primary Account) plus your month to date accrued interest which may not have yet posted to your account, apply to personal accounts only, and are accurate as of.
