Yotta Reviews

Using a lottery system sounds like an interesting idea for a high yield savings account, but it seems like it might be a marketing scam. I deposited $3,000 in the account a few months ago to give it a try. You would think that 120 tickets a week would be enough to have a decent chance, but I've been averaging a lower APY than most high yield accounts, which are currently around .80%. Even during weeks with several hundred extra tickets due to referrals, nope. Still below the average of other high yield accounts, nowhere close to the 2+% APY that some people are supposedly receiving. It doesn't really matter who endorses this app, it also has NO features that are comparable to other banks. I gave it a try and it doesn't stack up.

Edit: The developer responded by saying that you’ll earn a similar APY compared to an Ally savings account over $25,000. The similar APY will average out to about 0.45% compared to Ally’s 0.60%.

The lottery part is “fixed.” Read through the terms and conditions and you’ll see exactly why.

The actually obtainable prices, like the $5,000 prize, will be split between all of the other winners who also win the same prize. So you’ll probably only get a few hundred if you’re extremely lucky.

Apparently my math is off though per the dev. 🙄

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I can no longer recommend Yotta.

The ticket rate was previously 1 ticket for every $25 you had in the savings account.

As of December 14th, 2020, they changed how many tickets you get per week.

The ticket rate is now:

x1 ticket for every $25 in the account up to $25,000.

For balances above $25,000, you will only get x1 ticket for every $150.

So if you have $25,000 invested, you will get 1,000 weekly tickets.

If you have $50,000 invested, instead of getting 2,000 tickets, you will only get about 1,167 tickets.

If you normally had an APY of 1%, be aware that the APY of your balance over $25,000 will now be in the 0.2% range.

As of writing this, you might as well go back to using a more mainstream high yield savings account like Ally which has a 0.6% APY on your entire balance.

Just don’t do it. They make it SUPER simple to add money from your bank to their app, but make you jump through hoops to withdraw even your original amount. It’s been nearly a year of me trying to get my money back out & it’s been such a pain. Their “customer service” always blames their “banking partner” and always seems perplexed as to why it’s not working and they say they’ll get back to you once they get back from said banking partner, but it never happens. I q’s trying to withdraw $100. Such a small amount for them. And I kept getting a message saying my daily withdrawal limit was $10k. Okay, cool, I’m well under that so let me withdraw. But it won’t let you. It makes no sense. None of my info changed. I’m withdrawing to the same account I added the money from. So why does it matter what their “banking partner” says?!? I’m so over them. If you look up reviews online (BBB too), you’ll realize they’re just full of excuses and zero answers. They just want you to deposit money & keep it stuck there hoping you’ll forget about it. And in that year wanna know what I “earned”? $1.30! Ha! Just don’t do it. Soooo not worth it.

After having concerns about the legitimacy of their holiday sweepstakes and wanting to speak with someone, this is what one of their representatives sent me “There isn't anything we can provide you. This isn't anything that a legal team or anyone else at this app is going to look into further. We understand you have an opinion about what you believe happened or what you see or think is or isn't fair, but our team already selected the winner here. Thanks again for your concern but we don't have anything else to share with you or that we will be looking into.” I simply wanted to know if it was an employee or an actual customer who won due to some discrepancies I found. But if their customer service is any indication, I don’t think “real winners” exist here. So I’ll be following up another way. Just wanted to share my experience here.

Yotta is truly a scam. I’ve made the stupid mistake of leaving my former bank and fully switching over to this app. (BIG mistake!)

Once my direct deposit came of from my new job, it took me over a week to access my money, after they claim you will receive your paycheck up to two days earlier. I’ve tried the support feature and did not hear back from anyone until 6 days later.

Another issue I had was receiving my sign on bonus at work through direct deposit. this app must have assumed it was fraud because they locked my account with no explanation. Once I reached out to support again it took me 3 days to get a response from anyone, then “Nick” responded with “we’ll look into this for you” 2 days of silence then I receive a message saying “..upon investigation, your account will remain locked and you will be unable to use this app services…”

Still no explanation, but it’s hard to pay bills when the money I’ve worked for is being held by a scam company with no reason as to why. Someone needs to investigate this company and arrest the con artists responsible for this company.

Also, the lottery is rigged. They don’t explain how the numbers are picked. They wait to see who will come close to winning and make it virtually impossible for anyone to take the grand prize. this app needs to be investigated immediately!

At the end of 2020 they lowered the number of tickets you get over $25,000. In May they are lowering the number of tickets you get again, this time over $10,000. I was already getting a rate just under 1% on my money and this will reduce that even further. Not worth using over a traditional savings account at these rates. Other than that I have no problems with Yotta or service and their functions.

EDIT: Just to add, when you make a withdrawal, it removes tickets which makes sense. The part that doesn’t make sense is it removes your best performing tickets. For example if you have ten tickets and one with matches, and you withdraw enough money to lose 1 ticket, it will remove your ticket with matches. That’s just a rip off.

I used Yotta for several months and everything’s OK! Until I went into my this app account settings to change my bank account information and when I did that an error popped up and when I tried to log back into my account it stated that my account did not exist so I went to the support chat as well as the emailAnd nobody has been able to find my account or my money. I used the exact same email address to set up another account and it states before disconnect in your bank account make sure that you transfer funds because the account will be permanently deleted. Which makes no sense. I still haven’t been able to get my money back or even get in contact with a consistent person to find out or to resolve my problem.
If you have money to lose then go ahead if not I’ll just leave it alone. I have lots of questions and no one to answer them.

Referral - CASSANDRA19

I had never had a Savings account before but had been to the casino and played the lottery before. This is the best of both worlds. You get the benefits of the high interest rates of an online bank with the fun of playing the lottery. I had so much fun I added even more money after a few months. I check my number everyday and have already won more than I usually make in a year in interest. They also have a great referral program.

I’ve been using this app for over six months. It has blown my expectations away!! Yotta is extremely easy to use, fun, pays out (I’ve won $50 total on my money and last year I got a total of 70 cents from the account I had it sitting in before), and is not at all sketchy. I was a bit nervous about putting my money in this relatively unknown app but I have literally never had an issue with it. Their support is also super fast and friendly!

I used a big bank for 20+ years for my direct deposit and recently switched to this app. The perks offered were enticing enough to switch, and I haven’t been happier and more excited. I am constantly getting tickets with my direct deposit, then paying the bills that I normally pay anyway. I usually guess a few that are winners and I make a little change, and they picked one of my purchases today and paid for it, refunding my money. I love that I finally can make money off of a bank, instead of the bank cashing in on me. Interest rates with banks are a joke, and it only makes sense financially. I have had no issues with the exception of a hacker, which the support people took care of extremely fast. And definitely secured my account. I can’t say enough about how happy I am about making the switch!

Yotta is great and makes saving money very fun! There should be something in Yotta that calculates what your effective APY is currently and forecast that through the year based on what has happened and average expectations for the future. That could be a cool thing to add in the dashboard and help people really see how much more they’re making compared to other accounts as many people are still holding off on ditching their other high yield account because the APY is sorta ambiguous here

this app is a unique way to save money. It’s a way to get your gambling fix without the losing money part. Who wouldn’t want to be entered into a 10 Million dollar lottery every week and not have to pay to do it? Sure, the odds of winning are low but you are likely to win small amounts on a regular basis not to mention the 0.2% guaranteed APY on top of that. Odds are you’ll come out around 1-1.5% APY annually. That is better than almost any other HYSA out there. Is it guaranteed? Of course not. But the appeal of winning more money each week is enough for me.

I just got my first free purchase today, so I am here to finally say I love Yotta. I’ve been having fun with it for months with the weekly lottery tickets and the incentives they have make you use the card to deposit and spend. It makes spending and saving both fun as you always feel like you’re getting something either way. Whether it’s extra tickets or the chance for a free purchase. I came to Yotta to save and ended up having a better mindset around and about money. Yotta has its bugs sometimes and things can be improved but you can see they are getting there and working on it. I love Yotta for changing peoples minds around money spending and saving. Still keep your main bank and just transfer into this app as it feels good to save or as it feels good to move money over there to make a purchase. I’m on a money manifesting journey recently and this app I can clearly see has helped with my money beliefs. Thank you. When I used to spend money on anything I felt like I was losing. Now even if I spend I win!

I thought this was just a great way to spur savings. But they also have a debit card. And when I use it I get a chance to win a purchase free. And it even works for big things like my rent, or even moving thousands of dollars to my apple wallet or CashApp. And now they also have buckets for dancing for different things. And one of the buckets is for crypto. So simple, and the interest is higher than any bank, and it’s totally stable, not volatile like Bitcoin. And for each of these things they keep giving me tickets to win higher interest. Tonight I won over $60 interest, way more than I would have on any other savings account in a whole year.

I started with a savings account and moved up to having a debit card and multiple buckets within my this app including a crypto-bucket, which is super cool! I pretty much win at least something every week, most of the time it’s like around .25 cents but it’s been higher than that a couple times and it all adds up! So far I’ve won $30+ total from drawings and their free debit purchases (they pay for random stuff you buy sometimes)! All in all, totally not bad, never any fees, super clear, you can get to your money any time.. it’s a great way to save and bank! And I can’t wait for their no interest credit card to drop; I’m already on the wait list! Highly recommend!

I think most people are skeptical of this app because it’s different. However, I can honestly say I’m pleased with Yotta and the return results I’m getting. I have this app’s debit card and just got my $155 transaction for free. I also got a $20 transaction for free a couple months ago. Couple those free transactions with my weekly winnings from the lottery and my overall return is well above 2%, which was what I was supposed to be getting from Ally when I first opened an account with them. However, during the pandemic, Ally reduced that to 0.6%. So to be getting more than 2% return for an online checking account is amazing!! Love the concept and the opportunity to earn much more than I already have.

There are endless options for high interest savings accounts online. Why choose this app?

Start with the current rates are very competitive, this app doesn't make you jump through hoops like having direct deposits or minimum transactions. But more importantly saving with this app is actually more fun.

You have a little extra something to look forward too at the end of the day and a small hope that maybe near the end of the week you have a small chance at hitting a larger prize. I’ve got to the end of the week a few times with an actual chance of getting a large bonus prize - you get to Sunday and look at your best tickets and think if I just match the this app number... Also you actually have a pretty decent, 4%, chance since there are 25 this app balls, so you expect to hit the this app on your best ticket each week about twice a year.

this app is a little something exciting to look forward to in the otherwise very unexciting world of online savings.

Also, this team is amazingly responsive to feedback and improvements. I was emailed today to let me know the integration with Mint is now live - I tried it and it worked flawlessly.

Thanks team!

I love Yotta! Has the best interest rates as well as winning cash every week! You’ll earn way more keeping your savings in this app than any other savings or money market type account. It’s like playing the lottery each week, but you win something every time! I’ve referred my family and friends and can’t wait to get more people hooked! Never had any major issues, but if something minor comes up or you have questions the customer service is quick to respond and super helpful. Plus they are easily accessible because you can just chat with them through their DM style chat. Not like all these other places where they hide all their contact information and make it near impossible to get help. All I can say is this app is AMAZINGGGG!

It’s a really cool idea that works great, and it still has a bunch of features coming soon; I look forward to the upcoming support for crypto especially.
Being wary is understandable since it’s low key and involves “lottery” play (you don’t spend a dime on anything). But you’re pretty much guaranteed better returns than any regular savings account can offer, and your money is safe no matter what.
It’s worth trying, just use SIGNUP to get 100 bonus tickets (which, at $25 each, is insaaane value). Take advantage since I’m sure it’ll be reduced as Yotta ’s popularity grows.
The creators have a very informative Reddit AMA, check it out for some more info.
Just know, this will be huge; it’s very worthwhile to get in early.

this app is amazing! I won 25¢ my within the first week of opening an account🤣 obviously 25¢ isn’t a lot and I have plenty of quarters lying around but it’s still cool. It’s shows that the chances of winning are real. It’s super easy to open an account, transfer/deposit, and withdraw money from Your this app Savings account. The 2 best things about this app are that it’s FREE to open (no maintenance fees or other hidden fees (emphasis on “HIDDEN”) ) and the tickets are recurring! So even if you only deposit $100 once, you get 4 recurring tickets every week for a chance to win a prize; +4 bonus tickets the first time you deposit money, I believe? (I got 8 tickets when I deposited my first $100) .There’s really no reason not to open an account.

I’ve always encourage my daughter to save, that sounded boring to her. But when a friend told her about this app she got excited and downloaded and deposited immediately. Because of the lottery tickets she is motivated to continually deposit. And....it’s legit FDIC insured.

The thrill of being able to win $10M with not catch is amazing in itself, but I also have gotten better interest on my money than any other app I’ve used. Highly recommend.

The interface is simple, but I’m excited to see the new features added in the future! Definitely giving this app a chance, I find myself checking Yotta every day

I love the lottery. Usually buy 1-2 tickets every week and have won small sums. Since I started using Yotta I STOPPED THOUGH. Why you ask?????

I LOVE Yotta. I can play and win (won $20 recently!!) and the rest of my money is kept in savings. I can withdraw anytime.

IT’S GENIUS. GET Yotta!!

Exciting having the chance to win big bucks while preserving my principal and even earning interest on it! I look forward to watching the ball drop each night! Already won money last week! WELL DONE!

this app is a great and fun idea that gives you chances to win money weekly. Yotta is very user friendly and easy to navigate. There is always something to look forward to every night of the drawings to see if your numbers got picked.

Yotta is an amazing idea. I have had cash sitting in my bank account collecting almost 0 interest. Yotta increases the interest I earn and gives me a chance to win a meaningful amount of money every week at no additional cost

A fun way of committing to saving money. It's exciting to get the notification to pick my numbers and hopefully win a few extra $$. Even if the odds are long, it's still an encouraging way to save. Yotta is also easy to use and well-designed 💪

Such a great user interface & amazing way to save while having some fun at the same time. Higher interest rates than most banks while being FDIC insured...and it’s a lot of fun to check if you win!! Lotto money evaporates after the draw, here your money GROWs!!

Great app, kudos to the guys who came up with this idea!

I have an iPhone 6, and Yotta crashes almost every time I try to open it. I’ve tried updating both my phone and Yotta , but that didn’t work. 2/5

UPDATE: The most recent update fixed the crashing issue! Thanks! 5/5

I love Yotta - brings some excitement to logging in to my checking account. Very easy to sync up with my previous bank (took 3 minutes). I’m earning higher interest on my savings now and the lottery feature is unlike any other bank I’ve seen. Highly recommend to all - encourages saving!

Never knew saving money could be so easy and even fun! I look forward to the number draws each night and already have a little more than I deposited based on their guaranteed interest they give you.

Anyone looking to save money should get this and enjoy how simple it is to have your money safe and gaining value 💵

I really love how easy to use Yotta is. It was super simple to transfer in some money from my current bank account. And they are also FDIC ensured like a regular bank so it’s safe. I love buying lottery tickets from time to time and this definitely gives me some that fun workout wasting my money. I check everyday to see if I’ve won... fingers crossed I do someday 🙌

The concept is cool and it’s exciting to see each day wha the number will be. I also sent this feature request idea to the this app team — I’d love the added feature of buckets or different mini accounts or have different savings goals. As someone who’s trying to budget, it would be immensely helpful and my favorite savings account of the several I have. Looking forward to see what else this app does in the future!

this app is awesome - plain and simple. It’s literally the best of both worlds; saving bonus is more than banks pay in interest and you can win up to $10 MILLION every week. There’s nothing else like this - great concept and great execution