Update May 2024: The Yotta App has undergone significant changes over the past several months. This review is outdated and no longer reflects the current state of the app. There are numerous issues with the app now, and I do not recommend signing up at this time. I have personally withdrawn all my earnings and savings from the account as of May 11, 2024.
Welcome to my Yotta Savings review. Today, I’ll discuss whether the Yotta Savings app is legitimate and share my referral code for it.
I recently discovered an intriguing new savings account that I’m excited to tell you about. It’s a fascinating concept that I think you’ll find interesting.
With the Yotta mobile app, you can win up to $10,000,000. Over 600,000 users have already won more than $12,000,000 and two Tesla cars!
Here’s a quick rundown of the app: Yotta Savings uses the psychology behind the lottery to encourage Americans to save money. For every $25 you save with Yotta, you get a chance to win between $0.10 and $10,000,000 every week. Even if you don’t win, your savings still earn a 0.20% interest rate, which is double the national average.
Yotta was created to help Americans achieve their savings goals. This is crucial because, according to the Federal Reserve, 40% of Americans don’t have $400 for emergencies. Yet, Americans spend $80 billion annually on lottery tickets, averaging $640 per household. Yotta aims to redirect some of that money towards savings by making saving fun and rewarding.
Inspired by the UK’s Premium Bonds, which have over 23 million users and $100 billion in deposits, Yotta offers a similar product. If you use my referral code MICHELLE, you’ll get 100 free tickets for the next week’s drawing.
Now, let’s dive into some common questions about Yotta Savings:
**How does the Yotta Savings app work?**
Using Yotta is straightforward. You start by making a deposit from your bank. For every $25 you save, you get a ticket into weekly number draws. If you deposit $100, you get 4 tickets each week as long as you keep that $100 in your account.
Every Monday, you pick 7 numbers for each of your tickets. If you don’t pick numbers, they’re automatically chosen for you. Contests run weekly, with one number drawn each night at 9 PM ET. On Sunday, the final number is drawn, and winnings are calculated.
You can win up to $10,000,000. The more numbers you match, the more money you win. If you match all 7 numbers, you win the $10,000,000 jackpot. Your savings also grow at a rate of 0.20%, and including the value of prizes, you get over 3% on your savings, which is the highest rate I’ve seen.
**Is Yotta Savings legit and safe?**
Yes, Yotta Savings is legitimate and safe. There are no minimums or monthly fees, and your savings are FDIC insured up to $250,000 through Evolve Bank & Trust. The app uses military-grade encryption to protect your account.
**How does the Yotta Savings lottery work?**
Yotta contests occur weekly, with one number drawn each night at 9 PM ET. The numbers are drawn by a third-party insurance carrier using a random number generator. For every $25 you deposit, you get one ticket each week. If you forget to pick your numbers, they’re automatically chosen for you. Winnings are deposited into your Yotta account, and you can withdraw them at any time.
**How do I sign up for Yotta Savings?**
Signing up is easy. You just need your name and email address. Use my referral code MICHELLE for 100 free tickets into the next week’s contest. You’ll need to connect a bank account and make a deposit to earn tickets.
**What is the Yotta debit card?**
Yotta recently introduced a debit card that can be used with Apple Pay, Google Pay, and Samsung Pay. There are no monthly fees or minimum balance requirements. You can earn 10% tickets back and have a chance to get any item you buy for free.
**What is the Yotta Lucky Swipe?**
When you use the Yotta debit card, your next purchase could be free. You have a 1 in 150 chance of winning, which can improve to 1 in 100 if you refer someone or use the card for dining out.
**Has anyone won big on Yotta?**
Yes, many people have won significant prizes, including cash and Tesla cars. However, no one has yet won the $10,000,000 jackpot.
**Does opening a Yotta Savings account affect my credit score?**
No, opening a basic Yotta Savings account does not impact your credit score.
**Can you have a joint Yotta Savings account?**
Yes, you can add a joint account holder through the app’s settings.
**Is there a minimum balance for Yotta Savings?**
For balances of $5.00 or less, there is a monthly service charge of $0.50. Otherwise, there are no fees for using Yotta.
**What is Pool Play on Yotta Savings?**
Pool Play allows you to join groups with friends and share prizes. You allocate a portion of your tickets to a group, and winnings are distributed based on the percentage of tickets you contributed.
**How do I withdraw money from Yotta?**
You can easily withdraw funds through the app, and it takes about 2-3 days for the money to transfer to your bank account.
I hope you enjoyed this Yotta Savings review. I think it’s a fun and engaging way to encourage people to save money. I’ve been using the app for about 4 months and find it motivating. Give it a try and see how it works for you!