The Piggy Bank functions like the Chest in that it has 40 slots that can be used to store anything. However, unlike Chests, the Piggy Bank has the following properties:
- Each Piggy Bank contains the same items (when accessed by the same character), no matter where they are placed within the world. Purchasing multiple Piggy Banks will not give you more space, but will offer more points of access to your Piggy Bank contents.
- The Piggy Bank can be picked up even when it contains items. This makes it a viable way to expand your character's inventory slots. Note that to use the Piggy Bank this way, you should also carry a Table, Work Bench, or set of 2 Wood Platforms with you to set it down on. Use a Pickaxe to pick up the Piggy Bank again.
- The Piggy Bank's contents are saved with your character data, instead of the world data. You keep its contents with you from world to world, and from server to server.
- The Piggy Bank's contents are exclusive to each player, so other players will not have access to items in your Piggy Bank. This makes it useful for securing items on PvP servers where stealing is allowed.
- Multiple players can use the same Piggy Banks without having access to each other's items, acting similar to real bank systems. Each player will only see their own items when accessing the same Piggy Banks.
Piggy Banks can be a good place to store coins, as coins stored there will not be lost in case of death, even when the Piggy Bank is in the character's inventory at the time.
- All items stored in a Piggy Bank will be permanently lost in the case of death on Hardcore Mode.
- After Skeletron has been defeated, another item which has a similar function to the Piggy Bank can be acquired. These two items do not share storage space.
- Capacity increased from 20 to 40.
- No longer floats when table it is placed on is broken.