Find HS Code and trade information for child's smart password piggy bank

Child's Smart Password Piggy Bank

A child's smart password piggy bank is an electronic savings device designed to encourage saving habits in young children. It combines the traditional concept of a piggy bank with modern security features and interactive elements.

Material

Typically constructed from durable plastic (often ABS plastic for impact resistance), these piggy banks are built to withstand rough handling. Some models may incorporate metal components for the coin slot or locking mechanisms. Electronic components, including a circuit board, LCD screen, and speakers, are integral to their functionality.

Purpose

The primary purpose is to cultivate financial literacy and responsibility in children. It teaches them the value of saving, delayed gratification, and basic money management concepts. It also serves as a secure place for children to store their money, preventing impulsive spending.

Function

• Password Protection: Requires a user-defined password to open, preventing unauthorized access.
• Coin Recognition: Many models feature automatic coin recognition, displaying the total amount saved on an LCD screen. Some can differentiate between various denominations.
• Note Recognition: Higher-end models can also recognize and count paper currency.
• Capacity Display: Shows the current amount of money stored within the bank.
• Goal Setting: Some allow children to set savings goals, visually tracking their progress.
• Music/Sound Effects: Often includes entertaining sounds and music to encourage usage.
• Voice Prompt: May feature voice prompts to guide children through operations.

Usage Scenarios

• Home Savings: Used in the home environment as a primary savings tool for children.
• Allowance Management: Helps children manage their allowance or gift money.
• Reward System: Can be used as part of a reward system, where children earn money for completing chores or achieving goals.
• Early Financial Education: Introduces fundamental financial concepts in a playful manner.

Common Types

• Basic Password Piggy Bank: Features password protection and manual coin insertion. Requires manual counting of the savings.
• Automatic Coin Recognition Piggy Bank: Automatically recognizes and counts coins, displaying the total on an LCD screen.
• Note & Coin Recognition Piggy Bank: Recognizes both coins and paper currency.
• Goal Setting Piggy Bank: Includes features for setting and tracking savings goals.
• Touchscreen Piggy Bank: Features a touchscreen interface for easier operation and more interactive features.
• Piggy Bank with Remote Control: Allows parents to remotely view savings and set goals.
• Piggy Bank with App Connectivity: Connects to a smartphone app for tracking savings, setting goals, and providing educational content.

Here's an analysis of the declared goods, "child's smart password piggy bank," based on the provided reference material:

• 8543709301: Electrical machines and apparatus, having individual functions, not specified or included elsewhere in this chapter; parts thereof. Other machines and apparatus: Other: Other: Portable interactive electronic education devices primarily designed for children.

  • Chapter 85: Electrical machines and apparatus; parts thereof. This chapter broadly covers electrical devices.
  • Heading 8543: Electrical machines and apparatus, having individual functions, not specified or included elsewhere in this chapter. This heading focuses on specialized electrical devices not categorized elsewhere.
  • Subheading 854370: Other machines and apparatus. This further specifies the type of electrical machine.
  • Subheading 8543709301: Portable interactive electronic education devices primarily designed for children. This specifically identifies devices intended for educational purposes for children. Given the "smart password" feature, this piggy bank likely functions as an interactive learning tool.

• 8543906500: Electrical machines and apparatus, having individual functions, not specified or included elsewhere in this chapter; parts thereof. Parts: Other: Printed circuit assemblies: Of flat panel displays other than for articles of heading 8528, except for subheadings 8528.52 or 8528.62.

  • Chapter 85: Electrical machines and apparatus; parts thereof.
  • Heading 8543: Electrical machines and apparatus, having individual functions, not specified or included elsewhere in this chapter.
  • Subheading 854390: Parts. This covers components used in electrical machines.
  • Subheading 8543906500: Printed circuit assemblies: Of flat panel displays other than for articles of heading 8528, except for subheadings 8528.52 or 8528.62. If the piggy bank includes a display screen, this HS code may apply to the internal circuit board.

• 3926901600: Other articles of plastics and articles of other materials of headings 3901 to 3914: Other: Pacifiers.

  • Chapter 39: Plastics and articles thereof. This chapter covers items made from plastic.
  • Heading 3926: Other articles of plastics and articles of other materials of headings 3901 to 3914.
  • Subheading 392690: Other.
  • Subheading 3926901600: Pacifiers. While seemingly unrelated, this HS code is listed under "other articles of plastics," and if the piggy bank's casing is primarily plastic, this code could be considered.

Important Note: The total tax rate for HS code 8543709301 is 30.0%. The total tax rate for HS code 8543906500 is 55.0%. The total tax rate for HS code 3926901600 is 40.6%.

According to the provided reference material, the HS code options related to 'child's smart password piggy bank' are limited, with only the following 3 found.