Piggy Banks were primarily designed for personal use versus business, but there are some business use-cases so we did not want to exclude the feature for business customers.
Money Pools and Piggy Banks are very similar. They are both Marygold Easy Access Saving Accounts (provided by Griffin Bank Ltd) but Piggy Banks have one important feature that makes them different to regular Money Pools. Piggy Banks make it more difficult for you to see your own savings!
Why on earth would you want this?
Well, oddly there are many good reasons why some of us may want this feature for some of our savings.
For example, it may be the case that we have some savings that we mentally segment to 'never touch', and as such we don't really want it included in our 'normal' total of savings.
Additionally, some of us may have some important saving goals we want to hit but we also know that we can sometimes be a little weak and be tempted to spend on the latest 'thing' we want, be that new equipment, client entertainment, anything. Out of sight, out of mind really helps us to resist this temptation.
Clearly, this feature is not for everyone, and that's the point. If it works for you great, if it doesn't also great. You choose.
Now, we (Marygold) clearly don't actually hide your money as it is your money, Piggy Banks just won't show your money immediately. If you want to see whats inside you need to work a little for it. You need to press the 'Reveal' button for 30 seconds to see what you have, long enough to inflict a little pain for you and give you time to think whether you really want to see what is inside!
Finally, if the Piggy Bank isn't working for you, no problem. You can convert Piggy Banks to Money Pools, and vice versa, any time you want.