I Love Smartypig

I have never had a problem with SmartyPig and have had an account there for about 3 years,  I have saved and used the money to pay off 2 cars and put a down payment on a house.  I have the money automatically withdrawn and forget that it's there until I need it - I like that I can't get to it immediately.  It takes 1-2 days to withdraw your money but I don't consider this "Jumping through hoops" it's just the way it is (and it's not a secret).  You aren't locked into anything you just can't cash out partial amounts- there is a way around, you can create a new goal and split your funds if you only want to withdraw a portion (this may be jumping through hoops but it keeps me from withdrawing on a whim).  You don't have to do anything to get the promised rate (there is a limit though, the interest rate drops once you reach $50K in your account so just keep it below that and you are fine- and I felt like this was all disclosed up front, I wasn't surprised by anything) The interest rate can't be beat.  I have never cashed out money into retailer gift cards but it's a unique option (and bonus money) if you were going to buy something from one of the partners anyways.