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August 13, 2009 • Posted by Michael Ferrari

Change in APY

Dear SmartyPig Saver,

Beginning Monday, Aug. 17, we will be reducing our APY to 2.01%. Historically, we've initiated less-frequent drops so as to enable our customers to earn as much interest for the longest possible amount of time rather than knock 10 or 20 basis points off here and there. By visiting here, you'll find that we're still offering one of the top rates in the country. Add the social aspect of our system that allows friends and family help you to reach your goal, and our cash boosts of up to 6% from some of your favorite retailers and travel companies, and it is easy to see why people saving for specific goals are still, far and away, earning the most money for their money with SmartyPig.

There are still no fees. No time limitations. This is not a special for new money. And SmartyPig is not restricted to residents of only certain states. Our APY is still higher than the big boys - in most cases, much higher. And we aim to always be extremely competitive when it comes to the rate we offer.

We are doing everything in our power to make your SmartyPig experience one that is not only positive and worth sharing, but completely transparent. This is why instead of burying this change somewhere in your account summary we wanted to reach out beforehand, and why we invite you to voice your comments and/or concerns on any of our channels of communication: Twitter, Facebook, Get Satisfaction, our Blog, etc.

At the end of the day, we want for nothing more than our customers to get the best deals possible. We want to help reverse the credit-card mindset of "buy now, pay later." And we want to remain the best way to save for your wedding, family vacation, new TV, emergency fund or the future of your children. We think we are. But we cordially invite you to tell us 24 hours a day, 7 days a week your ideas on how to make SmartyPig even better.

Your using SmartyPig is greatly appreciated. And as always, good luck with your saving goals!

Sincerely,

Michael Ferrari, co-founder
mferrari(at)smartypig(dot)com
@mferrari

Tags: apy