Truth-In-Savings Account

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Last Updated: January 15, 2013


Truth-In-Savings Account Disclosure

This Savings Account is only available to individuals with a SmartyPig Account and a SmartyPig Savings Goal. This disclosure contains information about your Savings Account related to your SmartyPig Savings Goal. Your Savings Account with Compass Bank (“BBVA Compass”) is governed by this Truth-In-Savings Account Disclosure and the BBVA Compass Consumer Deposit Account Agreement. In addition, the SmartyPig Terms and Conditions govern your SmartyPig Account and your SmartyPig Savings Goal. Any capitalized terms not defined herein shall have the meaning set forth in your SmartyPig Terms and Conditions.

The following chart shows the annual percentage yield and rate for your Savings Account. Your interest rate and annual percentage yield are variable and at our discretion, we may change the interest rate for your Savings Account at any time. To obtain current rate information please visit www.SmartyPig.com.

SmartyPig Savings Account
Daily Collected Balance* Interest Rate Annual Percentage Yield
$50,000 or less0.995%1.00%
$50,000.01 or more0.995%1.00%

*For purposes of determining the applicable rate tier for your Savings Account, your daily collected balance shall include the total daily collected balance of ALL of your SmartyPig Savings Accounts. The daily collected balance in each of your SmartyPig Savings Accounts will be added together and your applicable interest rate and APY will be based on the total daily collected balance of all your SmartyPig Savings Accounts. For example, if you maintain more than one SmartyPig Savings Account, and the total daily collected balance in all of your SmartyPig Savings Accounts is $50,000.01 or more, the applicable APY for the entire daily collected balance of EACH of your SmartyPig Savings Accounts is 1.00% APY.

  • Interest on deposits begins to accrue no later than the business day on which we receive credit for the deposit.
  • Interest is compounded and credited quarterly. If you close your Savings Account, only interest accrued up to the date of account closure will be credited to your account.
  • The daily balance method is used to calculate the interest on your Savings Account. This method applies a daily periodic rate to the daily collected balance in the Savings Account each day. For tiered rate accounts, the rate corresponding to your daily collected balance will be applied to your entire daily collected balance. Collected balance means your Savings Account balance minus any funds you have deposited that have not been collected from the financial institution on which the deposited funds are drawn.
  • The minimum opening deposit for the Savings Account is $10.
  • The minimum amount you may deposit is $10.
  • No partial withdrawals are allowed. You must close your SmartyPig Savings Goal in order to withdraw funds from Savings Account. Please see your SmartyPig Terms and Conditions for details on closing your Savings Account.
  • All deposits gifted to you in the form of a SmartyPig gift card must be accepted by you before your Savings Account will be credited with the amount of the gift card. Please see your SmartyPig Terms and Conditions for details.

AS REQUIRED BY FEDERAL LAW, COMPASS BANK RESERVES THE RIGHT TO REQUIRE AT LEAST SEVEN (7) DAYS NOTICE PRIOR TO WITHDRAWAL OR TRANSFER OF FUNDS FROM ANY INTEREST EARNING ACCOUNT.