Yes. To get tickets on the Yotta Saving app, you link an existing account with another bank that you can use to transfer money into your Yotta savings account.
No! Yotta doesn't replace your existing bank. We partner with Plaid, a Visa-owned company, that allows you to connect your existing bank in the app in order to transfer money into your Yotta Savings account.
Yotta’s mission is to help Americans build financial cushion. According to the Federal Reserve, 40% of Americans can’t come up with $400 in an emergency.
This means that almost half our country is in a vulnerable financial position. An emergency room visit or car repair would send them into credit card debt. And with interest rates of 19% on average, this can create a hole that’s tough to get out of.
Yotta makes saving easier by making it fun.
We partner with banks that don't have bloated marketing budgets and real estate expenses, allowing us to pass on 20-100x more value on your savings to you than Wells Fargo and Chase can in the form of a monthly savings bonus plus prizes.
Yes! Yotta is 100% free to use. There are no fees, no minimums, and no surprises.
Security is our #1 priority. Your funds are FDIC insured, fully backed by the U.S government, up to $250,000.
FDIC insured means that no matter what happens, the cash in your account (up to $250,000) is guaranteed safe.
Your funds are held at Evolve Bank & Trust, an FDIC insured bank that has been in business for over 90 years!
No sensitive information touches our servers. We use military-grade, 256-bit AES encryption, access control, and secure processes to ensure your money is always safe with Yotta.
Your information is securely transmitted using SSL. Deposits are FDIC insured by the U.S. government up to $250,000. This means that no matter what happens, the cash in your account (up to $250,000) is guaranteed safe.
While technically not "interest," you receive a savings bonus every month that functions very similarly to "interest." Savings bonuses are paid on the first of every month and are based on your average balance in Yotta from the previous month.
The savings bonus may change at times due to changes in interest rates in the economy more broadly, but for now we are offering a bonus of 0.20% APY, over 2x the national average and 20x what some of the biggest banks pay.
This is in addition to the weekly prizes you can win through Yotta.
To make a deposit, go to "Settings" in the Yotta app and click "Get more tickets" and enter the amount you would like to deposit.
To do this, you must have connected a separate bank account to the Yotta app. This connection is made using Plaid, a fully secure service used by almost all the major financial technology applications.
In the Yotta app, you can make withdrawals back to your connected account by going into "Settings" and pressing "Withdraw." Funds are transferred via ACH, which takes 2-3 days to clear.
You can make up to 6 withdrawals per month. Withdrawals take 1-3 business days to process back to your connected account.
Recurring deposits are a great way to build your savings and get more chances to win.
In the app, within the settings menu you can set or cancel a recurring deposit. You can choose an amount and a cadence for how often you want the automatic deposit to happen (every week, every two weeks, or every month). The very first deposit will happen the same day you set recurring deposits. You can cancel this at any time by setting your recurring deposits to $0.
To sign up for a Yotta account, all you need to provide is your name and e-mail address. Is that's easy!
To earn tickets into our weekly prize draws and earn savings bonuses on your funds, you connect a bank account and make a deposit. Due to regulatory reasons for opening a savings account, we also collect address, date of birth, and social security number. This information is securely transmitted using state-of-the-art SSL and is never stored on our servers.
To delete your account, go to "Account Info" within settings in the app and click "Close my Account." Be sure to withdraw the balance in your Yotta account back to your connected account before closing your account.
Yes to prevent fraud and money laundering, we have a $10,000 daily limit and a $40,000 monthly limit on both deposits and withdrawals. These are based on the calendar month.
Yotta contests are weekly, with one number drawn every night at 9pm ET in the app. Contests start on Mondays at 9pm ET and end on Sundays at 9pm ET.
Every Sunday, the 7th and final number for the week’s contests is drawn, and your winnings for the week will be determined.
We work with a 3rd party “A” rated insurance carrier that randomly draws the numbers. They use a state-of-the-art random number generator to do this.
They also are not affiliated with Yotta and have no way to see the numbers our users pick, so there is no way for the system to be unfair since it’s double blind - the entity that picks the numbers has no ability to see our users' tickets.
Every $25 you save earns you a recurring ticket into our weekly number draws.
For example, if you deposit $50 and never touch it, you get 2 tickets every week without needing to make new deposits.
Don’t worry. If you forget to pick your numbers, your tickets will be autopicked for you randomly, so you never miss out on a chance to win
You really can't lose and there is no catch. Even if you don't win a prize, your money still grows 20x faster than with Chase or Wells Fargo. You can withdraw at any time, up to 6x per month, and there are no fees.
Your winnings get deposited into your Yotta Savings account.
Both your winnings and savings bonuses earn you more tickets and savings bonuses for future weeks. But, you can always withdraw your winnings any time back to your linked bank account.
See official rules.
Separate from prizes, no matter what, you still "win" because you get a savings bonus every month based on your deposits, which is ~20x what you would get in interest at Wells Fargo or Chase.
If you see "Won" on your ticket with a dollar value next to it, that is how much money you have won so far that week for that individual ticket. If a ticket does not have "Won" on it, it means it hasn't yet won any prizes that week.
"Match 3/4/5/6" tells you how much you will win if that ticket matches 3, 4, 5, or 6 regular balls. If you've matched 3 balls for example, the app will tell you how much you can win if you match 4. If you've matched 4, it will tell you what you will win if you match 5.
"Match Yotta" tells you how much that ticket would win if you matched no more numbers the rest of the week, but you match the YottaBall. The YottaBall is a special number drawn on Sundays and can multiply your winnings!