What Is an Electronic Piggy Bank?

Geri Terzo

Electronic versions are available for a host of items, including banks. An electronic piggy bank allows users to save money and serves a similar purpose to a more ordinary version of a piggy bank. With an electronic type, there are additional features that can make saving and counting money more fun. Some of the options on such a product might include money counters, bright displays, automated features for making deposits and withdrawals and even speaking capabilities. These products tend to increase in popularity during certain seasons of the year, such as during the holidays.

Some piggy banks include special counters to show children how much they've saved.
Some piggy banks include special counters to show children how much they've saved.

Some of the features of electronic piggy banks are useful, but others are mere gimmicks or purely for looks. For instance, a certain electronic piggy bank might look like a pig and might be programmed to open its mouth for money. Some banks might receive electronic payments through a credit card and then process and credit any deposits into a savings account. Wireless Internet capabilities or other access to the Internet or cellphone service might be needed.

Another feature that an electronic piggy bank might include is a light-emitting diode (LED) display of the balance or current deposits. The bank might go on to comment via a pre-recorded message through speakers on the product after a deposit has been made. It's likely that an electronic piggy bank will accept both coins and paper bills for saving. These items could make great gifts for children or adults. Certain types of piggy banks might be made to develop counting skills in children, and a tally is likely to be displayed after each coin or bill is deposited.

Consumers should expect an electronic piggy bank to be designed to accept a certain type of currency, depending on the region. Also, it should be expected that batteries will be required for the device to operate. Providers might sell electronic banks over the Internet. In addition to the electronic capabilities, an automated bank might be offered in different sizes and styles. Banks might be offered in various colors and also could be made from various materials.

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