Yotta Reviews – Is the Yotta Banking App a Legit Savings Account?

Yotta is a bank account that pays up to 4% interest while giving out up to $10 million in prizes every week.

By depositing money into your Yotta account, you can get rewarded. The platform, available for iOS and Android, makes it easy and fun to save while managing your money.

Should you download Yotta today? How does Yotta work? Keep reading to discover everything you need to know about Yotta today in our review.


What is Yotta?

Yotta is a mobile app for iOS and Android that makes it easy to deposit money, earn interest, and potentially win prizes.

Marketed as “a banking app that serves you,” Yotta lets you manage your money and earn rewards based on the amount of money you have in your account. For every $25 you deposit into Yotta, you get an extra raffle ticket.

Yotta distributes prizes each week, including cash prizes of $5,000, new Tesla vehicles, and grand prizes of $10 million. You can check your ticket numbers each Sunday at 9 pm EST to see if you won.

As Yotta explains, “you can’t lose” by depositing money into Yotta. You consistently earn interest of 0.20% APY, and you periodically earn prizes of $0.01 to $10 million. According to Yotta, the average user earns 1.5% returns on investment by depositing money into Yotta when including the APY and the weekly prizes.

Meanwhile, if you take advantage of Yotta’s Crypto Bucket feature, you could earn interest of up to 4% on your holdings.

In comparison, most traditional banks charge 0.01% to 0.03% interest.

Yotta also offers debit cards, crypto buckets, and other unique perks.

Yotta is FDIC-insured, and money is held in an account eligible for pass-through FDIC insurance with up to $250,000 in coverage (via Evolve Bank & Trust).

Plus, Yotta is available at no cost: as long as you have more than $5 in your account, you’ll pay nothing to use Yotta.

How Does Yotta Work?

You can get started with Yotta in a straightforward way. Just sign up, make a deposit, enjoy weekly draws, win prizes, and save.

Here’s how it works:

Make a Deposit: For every $25 you have in your account, you earn one ticket each and every week. The more money in your account, the more tickets you have for each drawing. $100, for example, gives you four tickets every week.

Check Weekly Drawings: Match your ticket numbers each day at 9 pm EST to see if you won. Yotta has daily and weekly drawings with cash prizes, prepaid cards, and even Tesla vehicles.

Win Prizes: Some Yotta members win significant prizes through the app, including $5,000, a Tesla, or the $10 million grand prize.

Save: Whether you win or not, you’re earning 0.20% APY on all deposits with Yotta, and your savings are insured for up to $250,000 by the FDIC. You can continue to save while participating in weekly drawings, putting your money to work for you.

You can also take advantage of the Yotta debit card (available for free) and Yotta crypto buckets, among other perks.


Yotta Features & Benefits

Yotta advertises all of the following features and benefits:

Win Prizes via Prize-Linked Savings Account: You win prizes just for holding money within your Yotta account. For every $25 you hold with Yotta, you earn one ticket. The more money is in your Yotta account, the more tickets you have for daily and weekly prize draws. In addition to offering weekly prizes, Yotta offers larger prizes and grand prizes – including a $10 million jackpot. According to Yotta, the company’s prize-linked savings accounts were inspired by Premium Bonds and Freakonomics.

Earn Double the National Average in Baseline Interest: At the baseline, users earn 0.20% APY by holding their funds with Yotta, which is more than double the national average interest rate. Plus, the company pools a portion of interest to pay out weekly sweepstakes, helping you potentially earn even more money.

Yotta Debit Card: You can order a debit card from Yotta to access the funds in your account. That debit card has unique perks like getting 10% tickets back on purchases. You can also access thousands of free ATMs, enjoy MasterCard liability protection, get faster settlement times, and avoid foreign transaction fees, among other perks.

Crypto Buckets: Yotta lets you earn an average 4% APY with 2.5x more tickets in weekly drawings thanks to its crypto buckets feature. With crypto buckets, Yotta automatically converts your USD to USDC, a stablecoin tracking the USD. There are no fees involved in this conversion, and you can convert back to USD at any time. That means you can enjoy crypto yields without the hassle.

FDIC Insured: Yotta is FDIC insured up to $250,000, and your money is held in an account eligible for pass-through FDIC insurance up to $250,000 via Evolve Bank & Trust.

Secure & Encrypted: Like all mobile banking apps and services, Yotta is secure and encrypted. The company protects your account via bank-grade encryption and authentication.

World-Class Support: Yotta offers world-class support to help answer your questions and manage your account. You can reach support at any time via support@withyotta.com.

Lean, Digital-First Bank with No Branches or Offices: Yotta, like many other fintech startups, aims to compete with big banks by offering a digital-first experience. The company has no big offices or branches; instead, it’s a lean fintech startup that passes savings onto users while avoiding costly fees.

No Fees: Yotta is free to use and there are no monthly fees or processing fees. As long as you have more than $5 in your account, you won’t pay to use Yotta.

Schedule Recurring Deposits: Yotta accepts recurring deposits, making it easy to add more money to your Yotta savings account each month.

Mobile Check Deposit: Yotta offers mobile check deposits, allowing you to quickly deposit money into your bank account by taking a photo with your mobile device.

Electronic Bill Pay Support: Yotta lets you pay bills electronically through the Yotta app. Or, you can get Yotta to mail checks to payees on your behalf.

Open an Account in 2 Minutes: Yotta lets you open an account in under 2 minutes. Just download the app, enter your basic information, and begin to enjoy the perks of Yotta instantly.

Set up Direct Deposit for Added Perks: Yotta encourages users to set up direct deposits for additional perks. You can double your chances at a Lucky Swipe free purchase, for example, while also earning bonus tickets if you add a direct deposit to your account.

Paycheck Perks: If you use Yotta to receive your direct deposit paychecks, you get added perks like a Tax Refund Boost and bonus tickets with each paycheck. You can also get paid up to 2 days early. It takes just 1 minute to set up a direct deposit with Yotta.

Credit Card with Added Perks: Yotta also offers a credit card with extra perks. You get up to a 2% chance at a free swipe and 20% ticket backs on all purchases. Yotta also supports instant notifications for all purchases. Yotta has not officially launched the Yotta credit card, although the company is accepting signups to its waitlist.

Savings Buckets: Yotta lets you save money for specific expenses via buckets. You can customize savings buckets for particular goals – like taking a vacation, saving for college, or buying a car. You can set deadlines for buckets, lock buckets to prevent withdrawals, and set up recurring transfers into buckets. Plus, buckets do not affect your tickets: as long as the money is in your account, it counts towards your ticket accrual, regardless of the amount of money in each bucket.

Pool Play: Yotta offers “pool play,” letting you play with friends to increase your chances of winning weekly prizes. Public pools allow you to join forces with anyone by sharing your public pool’s invite code. Anyone who joins has access to the pool’s invite code, allowing you to create a large pool of people to increase your chances of winning. You can also create private pools with friends and family. Pool prizes are paid proportionally based on how much each member contributed.

How Yotta’s Crypto Buckets Work

Yotta has a unique feature called crypto buckets.

You can transfer your money into a crypto pool. Instead of buying cryptocurrencies like BTC or ETH, Yotta transfers your USD funds into USDC, a stablecoin instantly transferable with USD at no cost. You can earn added prizes and higher interest for adding your USD to a USDC crypto bucket.


In fact, Yotta claims you can earn an average of 4% APY with 2.5x more tickets for each weekly drawing by taking advantage of their crypto buckets. Each ticket gives you a chance to win $10 million.

Here’s how it works:

  • Move your Yotta money into the Crypto Yield Bucket
  • With no fees, Yotta converts your USD into digital dollars (USDC stablecoins), allowing it to be put to work in decentralized markets
  • In exchange, you earn rewards passed on from borrowers, earning higher yields than you normally would with USD savings
  • Yotta also pays 2.5x the tickets, giving you a higher chance of earning prizes each week; you earn a ticket for every $10 in the Crypto Bucket instead of every $25, giving you more chances to win each week – and a bigger shot at the $10 million prize.

Even when money is held in the Crypto Bucket, you can spend it seamlessly; Yotta automatically exchanges USDC at the point of sale, handling all of the complexity behind the scenes while allowing you to earn higher yields on your investment.

Overall, investors can earn 4% average annual percentage yields (APYs) by holding their money in Yotta’s Crypto Bucket.

USDC is a stablecoin backed by fully reserved assets, with assets regularly attested by Grant Thornton, LLP, one of America’s largest accounting and advisory firms. That’s why each USDC is interchangeable with a USD.

Yotta partners with organizations like Wyre and institutional borrowers through platforms like Genesis to offer higher yields than a traditional bank, passing more significant returns onto users.

How Yotta’s Pool Plays Work

Yotta also offers pool plays, allowing you to create a public or private pool to boost your chances of winning.


Here’s how Yotta’s pool plays work:

  • Create or join a pool. Joining a pool is as easy as typing in the pool’s unique invite code. When you create a pool, you can choose between a public or private pool.
  • Select how many weekly tickets you want to allocate to the pool. The more tickets you allocate to the pool, the larger your share will be in the pool’s winnings. You must set your allocations by 330 pm EST on Mondays.
  • You can invite close friends and family via a private pool. Or, you can advertise a public pool on social media. Share your public pool’s invite code, then watch the number of tickets in your pool rise as more users join.

Each Sunday night after the YottaBall release, you can check your pool’s winning tickets. Yotta automatically calculates the prize share for each pool member, distributing prizes proportionally based on each member’s contribution.

How Yotta’s Credit Builder Works

Yotta offers a credit-builder to help build your credit score and earn bonus tickets. If you can make simple, automatic payments from your Yotta account, you can increase your credit.


Here’s how it works:

  • When signing up for the Yotta Credit Builder Bucket, there’s no hard credit check.
  • If you get approved, you get $1,000 deposited into your Yotta Credit Builder Bucket.
  • Build credit history by making on-time payments to the Yotta Credit Builder Bucket. You pay $55 each month for 24 months, and Yotta reports each payment to all three credit bureaus each month.
  • According to Yotta, similar services have seen users improve their credit score by 42+ points within 60 days.
  • Your funds are held in a special locked bucket, and you earn 40 tickets each week into the Yotta sweepstakes.
  • Once you’ve paid off the “loan,” the Credit Builder Bucket is unlocked, and you get access to the entire loan amount of $1,000.

After completing the 24-month process, you could have a better credit score, giving you access to better borrowing terms.

Yotta Pricing

Yotta is available at no cost. As long as you have more than $5 in your Yotta account, you’ll pay nothing to use Yotta.

  • More Than $5 in Your Account: No fees whatsoever
  • Less Than $5 in Your Account: Monthly service charge of $0.50

Even the Yotta Crypto Bucket has zero fees. Yotta manages the entire cryptocurrency side for you, allowing you to convert back and forth between USD and USDC with no fees, no gas charges, and no added penalties – just great yields.

Yotta Reviews: What Do Users Say?

Yotta has an average rating of 4.8 stars out of 5 on the iOS app store (7,100+ reviews) and 4.4 stars out of 5 on the Google Play Store (2,300+ reviews). Overall, Yotta has over 5,000+ 5-star reviews.

Here are some of the good and bad things customers have to say about Yotta:

Most customers love that they can finally make money off a bank instead of watching a bank eat away at their savings

Many customers like Yotta’s competitive interest rates and prizes, helping them earn more money than they normally would be compared to the tiny amounts paid by banks (Yotta pays an average of 1.5% APY, including prizes and interest, while most banks pay less than 0.03%)

Some customers report winning big prizes through Yotta, including Tesla vehicles, $750 prepaid debit cards, and other significant prizes.

Many customers like Yotta because it feels like they’re playing the lottery every week just for holding money in a bank account; your money is just sitting there like it usually would be, but you get the added perk of prizes

About Yotta

Yotta was co-founded by Adam Moelis and Ben Doyle.

Adam Moelis (CEO of Yotta) appeared on the Forbes 30 Under 30 and previously worked at Goldman Sachs and YipitData. Ben Doyle (CTO of Yotta) also appeared on the Forbes 30 Under 30 and previously founded Entrypoint VR after working at Bridgewater Associates.

Yotta is FDIC-insured through Evolve Bank & Trust, which means customers’ funds are protected for up to $250,000.

You can contact Yotta via the following:

  • Email: support@withyotta.com
  • Phone: +1 (844) 945-3449

You can view full details about Yotta and the Yotta team at their About Us page here.

Final Word

Yotta is a banking app that pays higher-than-average interest rates while offering unique perks to users.

As a digital-first bank, Yotta is available for free (as long as you have more than $5 in your account) and awards an average APY of 1.5%, including baseline interest rates and prizes. The more money you hold in your account, the more tickets you have for weekly prize draws.

To learn more about Yotta or sign up online today, visit the official website at WithYotta.com >>>


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