SmartyPig Reduces Fees to Try to Make the Service Attractive
By Sun on Mar 27, 2008 in Personal finance
Post viewed 241 times, 2 so far today
I reviewed SmartyPig a couple of days ago. Though in general the concept presented by SmartyPig, social+savings, is good, my biggest concern is the cost of letting others contribute to my saving goal. Paying $4.95 each time to make a $50 contribution doesn’t make a whole lot sense.
Then yesterday, I got an message from Jon, the co-founder of SmartyPig, announcing that SmartyPig has revamped its fee schedule to address users’ concerns. Now instead of charging $4.95 every time a friend or family member makes a contribution by using credit cards or buying a SmartyPig gift card, the fee will be at a flat rate of 2.9%. Furthermore, if the contributor is also a SmartyPig member, the fee of contributing to other’s saving goal via established bank account will be eliminated (for details, check out their fee schedule). The changes, I think, are quite positive.
If you like what you see at SmartPig and want to give it a try, I have two $50 SmartyPig gift cards that I will give away. There’s still time to enter the drawing.
Follow me on Twitter
1 Trackback(s)
Share Your Thoughts
Your opinion matters. If you have any thoughts on SmartyPig Reduces Fees to Try to Make the Service Attractive, please share them with us using the form below.