• What are the requirements to open a SmartyPig Account?

    To open an account, you must be at least 18 years of age and have an existing checking or savings account. You must also be one of the following: 1) U.S. citizen, 2) U.S. permanent resident alien with a green card and social security number, or 3) Resident with a social security number.

  • How do I contact Customer Support about my SmartyPig Account?

    For help or additional SmartyPig Account questions, please contact our Customer Support Team by calling (877) 751-6884 Monday-Friday, 9AM to 6PM ET or via secure messaging by logging into your account.

  • How do I close my Account?

    When you’ve saved up for all of your goals and decide you’d like to close your SmartyPig Account — please contact our Customer Support Team by calling (877) 751-6884 Monday-Friday, 9AM to 6PM ET.

  • What happens to my Payable on Death account if I die?

    Should you pass away, your designated beneficiaries will receive the funds in your account. The assets are transferred without going through probate.

  • What is a Payable on Death account?

    A Payable on Death (POD) account, also known as a Totten or informal trust account, is a simple way to disperse assets upon death. Distribution of assets for beneficiaries of POD accounts occurs without going through probate. Also, you may be entitled to additional FDIC insurance coverage for each POD beneficiary. In many cases, funds in POD accounts are FDIC-insured up to $250,000 for each qualified beneficiary. For additional information, please visit

  • Can I add a beneficiary to my SmartyPig Account?

    You may add a beneficiary to your SmartyPig Account within the “My Profile” section of the Online Banking platform. Designating a beneficiary will have the effect of making your SmartyPig Account a Payable on Death Account.

  • Will I receive a tax form for my SmartyPig Account?

    A 1099-INT form will be available in late January of each calendar year to account holders who’ve earned interest during the prior year. 1099-INTs will be uploaded in the Profile section within the SmartyPig Online Banking Dashboard.

  • When will I receive my SmartyPig Account statements?

    An electronic statement showing your account activity will be generated each month for your SmartyPig Account. We’ll send you an email when your statement is ready. Statements will be uploaded to the Profile section of the SmartyPig Online Banking Dashboard.

  • Will I receive interest if I close my Account before the interest has been posted?

    Yes, you will still receive the accrued interest, even if you close your account before the interest has been credited.

  • How is the interest calculated on my SmartyPig Account?

    We use the daily balance method to calculate the interest on your Account. This method applies a daily periodic rate to the principal balance in the Account each day. Interest will be compounded daily on a 365/365 basis (366/366 in leap years) and will be credited on the monthly cycle date. Interest accrues based upon the Account balance every calendar day at 4:00 PM ET. If your deposit is received on or before 4:00 PM ET, it will begin to accrue interest on that calendar day. If your deposit is received after 4:00 PM ET, it will begin to accrue interest on the next calendar day.

  • How long are deposits on hold?

    Normally, funds are held for 5 Business Days after a deposit posts to your Account. Funds will be made available for transfer to other Goals or back to your External Funding Source after this time.

  • 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. Funds will normally be available for transfer to other savings Goals or back to your External Funding Source five (5) Business Days after the funds post to your Account.

  • How do I transfer money into my SmartyPig Account?

    Funding your SmartyPig Account is easy! You may set up a funding source using the SmartyPig Online Banking Dashboard. This will allow you to set-up recurring or one-time transfers into your SmartyPig Account. You may also initiate an ACH or sign up for Direct Deposit through your financial institution or employer.

    Transactions must be made in U.S. dollars. We are unable to accept checks, cash, money orders, or wire transfers at this time.

  • How do I set up Direct Deposit?

    Since Direct Deposits come from different sources, we do not have a standard form to set this up. Please reach out to your employer or source of your Direct Deposit from which you would like your funds to be direct deposited and ask them for their procedure. They will likely require the following information to set up:

    1. Your SmartyPig Primary Account Number
    2. SmartyPig Routing Number: 124085299
  • What is the SmartyPig Account routing/ABA number?

    Routing/ABA Number: 124085299

  • What are the deposit and withdrawal transaction limits?

    Withdrawal Minimum Per Transaction $0.01
    Withdrawal Maximum Per Transaction $50,000
    Individual User Aggregate Daily Withdrawal Maximum $50,000
    Individual User Aggregate Monthly Withdrawal Maximum $250,000
    Deposit Minimum Per Transaction $0.01
    Deposit Maximum Per Transaction $50,000
    Individual User Aggregate Daily Deposit Maximum $50,000
    Individual User Aggregate Monthly Deposit Maximum $250,000
    User Account Balance Maximum $250,000
  • Can I cancel/void/edit a transfer?

    You may cancel/void/edit a transfer that you initiated through your SmartyPig online Account up until 11:59 PM ET of the day the transfer is scheduled. If you wish to stop or change a recurring transfer, simply edit the pending transfer within your SmartyPig Primary Account or the selected Goal no later than the Business Day before the date your transfer is scheduled. Please note: pending transactions may not be edited after they have been initiated. For assistance, please contact our Customer Support Team at (877) 751-6884 Monday-Friday, 9AM to 6PM ET.

  • Once I reach my Goal, how do I get the money?

    Congratulations on reaching your Goal! 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. If you’ve set up recurring or scheduled transactions and your last transaction exceeds the savings Goal amount, we will only transfer the remaining amount needed to reach the Goal. After you’ve reached a savings Goal, automatic contributions will stop being allocated to that savings Goal (regardless of the savings Goal end date).

  • What if I don’t reach my Savings Goal by the target date?

    No worries. SmartyPig is here to help motivate you to save. We will never penalize you for not meeting a Goal. Simply login to your account and change the target date, transfer the funds to another Goal, or transfer the funds into your SmartyPig Primary Account for you to use to meet a future Goal.

  • Expiration Timelines:

    Below you will find our standard verification timeline. Should you have any questions, please contact our Customer Support team by calling (877) 751-6884 Monday-Friday, 9AM to 6PM ET.

    • Time allowed for a user to complete the online verification is 14 Calendar Days.
    • Time allowed to upload documentation if requested during registration is 14 Calendar Days.
    • Time allowed to complete the verification deposits is 14 Calendar Days. After the period, the funding source verification will expire.

    A savings Goal may be closed once all funds are verified, which is five (5) Business Days after the last transaction posts into the savings Goal. A savings Goal cannot be closed if there are pending transactions.

  • What is a Funding Source Verification?

    The Funding Source Verification process is in place as a security measure to ensure your ownership of the external account and ensure it is eligible for ACH transactions. When you open an account and add your external funding source, within two (2) Business Days we will make a series of verification deposits (two credits and one debit in the total of the credits) by way of an ACH transfer into your external funding source. We then ask you to sign in to your SmartyPig Account Online Banking Dashboard and verify these two small deposits (each will be less than $1). It is important to remember that you may not transfer any funds from your SmartyPig Account until you have confirmed your verification deposits. If you fail to confirm your verification deposits within 14 Calendar Days (See FAQ regarding Expiration Timelines), please contact our Customer Support Team at (877) 751-6884 Monday-Friday, 9AM to 6PM ET.

  • How do I change my External Funding Source?

    You may replace an external funding source by visiting the “Funding Source” section within your profile and click “Manage funding source.” Then you can add or remove your external funding sources. You will be required to complete the form with the information for your new funding source. Once you have successfully uploaded and submitted the required form, we will review and if all requirements are met, we will then replace your funding source.

  • How many External Funding Sources can I have?

    Each SmartyPig Account is eligible to have three (3) External Funding Sources at a time. 

  • What is an External Funding Source?

    An External Funding Source is your external bank account that is linked to your SmartyPig Primary Account and used to fund your Goals. Funds that have not been allocated to a particular Goal will post to your SmartyPig Primary Account first. You may then choose how to dole out your available funds into each savings Goal you have created.

  • What is a SmartyPig Primary Account?

    You will notice a “SmartyPig Primary Account” section on the SmartyPig Online Banking Dashboard. This is where your SmartyPig Primary Account resides. All of your unallocated deposits will post to your SmartyPig Primary Account. You will then have the option to decide how you’d like to allocate the funds among your savings Goal(s).

  • How do I update my personal information?

    You can submit a request to update your information by logging into your account and visiting the “Profile” section of your SmartyPig Account. You can also contact our Customer Support team for assistance by calling (877) 751-6884 Monday-Friday, 9AM to 6PM ET.

    Please note: You may be prompted to provide/upload supporting documentation when submitting a request for name and address changes.

  • Are there any fees for the SmartyPig Account?

    The SmartyPig Account is a completely free savings account that motivates you to save! As with any savings account, there are some withdrawal limitations. Please refer to the Terms and Conditions Agreement for additional information.

  • Is my SmartyPig Account FDIC insured?

    Yes, the SmartyPig Account is offered through Sallie Mae Bank, a member of the Federal Deposit Insurance Corporation (FDIC). Your SmartyPig Account is insured up to the maximum legal amount. Please keep in mind that FDIC limits apply to all of your accounts held with Sallie Mae Bank. For more information about FDIC insurance limits, please visit

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