SmartyPig Savings Goal has made an improvement in servicing their savings account holders. The bank now provides an option of taking out money via ACH transfers for free. SmartyPig has been offering a good yield for its special savings account program since its inception last year and is currently at 3.90% APY.

The high yield savings program of the bank was specifically designed as a financial tool of consumers who want to save to meet certain goals. Before, account holders are not able to move the money out with ACH. The only methods available then were to make ATM withdrawals, request a check by mail, or purchase a gift card.

Account holders may not withdraw without penalty or fees in case they will need the money anytime. They can take out the current savings together with the interest earned through SmartyPig Master’s Debit Card, gift card, or they can move it via ACH back to their existing savings or checking account. The SmartyPig Savings Goal transfer to a savings or checking account may take around 5-7 days.

The maximum goal of the special savings program has also been increased from $100,000 to $250,000. A depositor can put in as much as $10,000 to $50,000 increase in his account within a banking day.

The savings accounts are maintained with West Bank which is insured with the FDIC through certificate # 151614.