Yotta Savings App Review 2024 – Is Yotta Safe?

UPDATE MAY 2024: The Yotta App has had a LOT of changes over the last couple of months. I have not had a chance to update this review yet, but please know that this Yotta review below is out of date and no longer applies due to all of the changes in the app. From…

Michelle Schroeder-Gardner

Last Updated: May 23, 2024

Disclosure: This post may contain affiliate links, meaning if you decide to make a purchase via my links, I may earn a commission at no additional cost to you. See my disclosure for more info.

UPDATE MAY 2024: The Yotta App has had a LOT of changes over the last couple of months. I have not had a chance to update this review yet, but please know that this Yotta review below is out of date and no longer applies due to all of the changes in the app. From what I can see so far, the Yotta app is very, very different from what it used to be. There are a lot of problems with the app right now and I do not recommend signing up right now. I did personally withdraw all of my earnings and savings out of this account today (May 11, 2024).

Welcome to my Yotta Savings review. The Yotta Savings app gives you the chance to win up to $10,000,000 weekly. Today, I talk about if the Yotta Savings app is legit and my Yotta Savings referral code that will get you 100 free tickets into the next week’s drawing.

I recently came across an interesting new savings account, and I am excited to share it with you all today.

I think you’ll want to hear about this as it’s such an interesting and new concept.

With the Yotta mobile app, you can win up to $10,000,000. Plus, over 600,000 users have already won over $12,000,000 plus two Tesla model cars!

Here’s a quick overview of the new savings app that gives you the opportunity to win $10,000,000 every single week.

Yotta Savings uses the psychology that drives Americans to play the lottery to instead motivate Americans to save money.

For every $25 that you save with Yotta, you have the chance to win $0.10 all the way up to $10,000,000, every week.

And, if you don’t win, your cash that you’ve saved still has a 0.20% savings rate, which is twice as high as the national average.

The creators of Yotta built this savings app to help Americans meet their savings goals. This is especially important because according to the Federal Reserve, 40% of Americans do not have $400 for an emergency. However, even though that is a crazy statistic, Americans still spend $80 billion on lottery tickets every year, which averages out to $640 per U.S. household.

This is a lot of money spent on the lottery, instead of saving money. But, I can understand the mindset.

This is where the Yotta Savings app comes in. Yotta makes saving fun and provides rewards for saving, which many people need the motivation for.

The creators of Yotta Savings were inspired by Premium Bonds in the UK, where 23,000,000 people use savings products to win prizes as well. It’s a similar product to Yotta Savings with over $100 billion in deposits.

You can click here to download the Yotta Savings app.

Plus, if you use my Yotta Savings referral code MICHELLE, then you will get 100 free tickets into the next week’s drawing.

In today’s Yotta Savings review, I am going to answer questions such as:

  • Is Yotta Savings legit?
  • How does Yotta work?
  • How does Yotta Savings make money? What is the catch with Yotta?
  • How do I withdraw money from Yotta?

Here’s my Yotta Savings review.

How does the Yotta Savings app work?

After reading all of the above about Yotta Savings, I’m sure you are interested in how exactly the savings app works.

Using Yotta is easy. You start by:

  1. Making a deposit. You select your bank to make a deposit from and for every $25 that you save, you get a ticket into weekly number draws. So, if you deposit $100, then you get 4 tickets every week for as long as you keep that $100 in your account without needing to make any new deposits.
  2. Every Monday, you pick 7 numbers for each of your tickets. If you don’t pick numbers, that’s fine as well – your ticket will be automatically picked if you don’t complete it in time. These are your Yotta Ball numbers.
  3. Contests are done weekly, with one number drawn every night at 9pm ET. On Sunday, the final number is drawn and winnings for the week are made.
  4. Finally, you can win up to $10,000,000. The more numbers you match, then the more money you win. If you match all 7 numbers with the numbers that are drawn, then you win the $10,000,000 jackpot.

What’s great about Yotta is that your savings still grow at a rate of 0.20% (this is the Yotta Savings rate). If you include the value of prizes where they’re currently set, you get over 3% all-in on your savings, which is the highest rate that I have seen. The Yotta Savings interest rate is great, as you can tell, as the Yotta Savings APY is the highest currently once you factor in the prizes.

That is twice as much as traditional banks, plus you can set aside money in a separate account and play their contest with no risk.

Here’s an image that shows what savings accounts usually pay when it comes to interest.

The Yotta Savings app gives you the chance to win up to $10,000,000 weekly. In my Yotta Savings Review, I go over if the app is legit and my referral code. In this picture is the Yotta Savings rate compared to well known banks.

As you can see, the Yotta Savings rates are much higher.

You can click here to sign up for the Yotta Savings app for free.

What is the Yotta Savings interest rate?

The Yotta Savings interest rate is 0.20% plus the value of the prizes that you win.

If you include the value of prizes where they’re currently set, you may receive over 3% all-in on your savings, which is the highest rate that I have seen.

Plus, with the other Yotta Savings rewards, there are many benefits of having a Yotta account.

How often does Yotta pay interest?

Here’s what Yotta says about this: While technically it is not interest with a Yotta Savings account, you receive a Yotta savings reward every month that is similar to interest. The savings rewards that you earn with your Yotta account are paid on the first of the month and are based on your average balance in Yotta from the previous month.

Is Yotta Savings legit? Is Yotta Savings safe?

Yotta Savings is completely free.

There are no minimums, no monthly fees, so there is no risk. Your Yotta Savings account is legitimate.

You can save money in their savings account, plus have the chance to win drawings.

Other positives of the Yotta Savings App:

  • Your savings account is FDIC insured and held at Evolve Bank & Trust, a bank that has been around for over 90 years.
  • FDIC insurance means your cash is fully guaranteed by the U.S government for up to $250,000.
  • Your account is protected by bank-grade encryption and authentication.

I personally have an account with Yotta Savings and have connected my bank account to it. I trust that they are a reputable company and I feel completely safe with my Yotta Savings account.

Is Yotta Savings FDIC insured?

Yes, your funds at Yotta Savings are FDIC insured, fully backed by the U.S government, up to $250,000.

Plus, Yotta uses military-grade, 256-bit AES encryption, access control, and secure processes to ensure your money is always safe with Yotta.

How does the Yotta Savings lottery work?

I gave information above on how the Yotta Savings contest works, but here is more information in case you are wondering:

  • Yotta contests occur weekly, with one number drawn each night at 9 p.m. in the Yotta Savings app. Contests start on Mondays at 9 p.m. ET and end on Sundays at 9 p.m. ET. Then, everyone Sunday, the final number is chosen and your Yotta Savings winnings will be totaled.
  • The numbers are completely random. Yotta Savings works with a 3rd party “A” rated insurance carrier that randomly draws the numbers using a state-of-the-art random number generator. This insurance carrier is not affiliated with Yotta, and have no ability to see what numbers Yotta Savings members have chosen. So, you know you are safe and can rely on this third-party insurance company to be honest.
  • You can get tickets into Yotta Savings weekly drawing by receiving a recurring ticket for every $25 that you deposit. So, if you have $25 in a Yotta Savings account, you will receive one ticket every single week.
  • If you forget to pick your weekly numbers, your tickets will simply be automatically picked for you randomly.
  • When you win money through Yotta Savings, your winnings simply get deposited into your Yotta Savings account. You can simply withdraw your winnings when you would like to.
  • You can also get one ticket by sending in a handwritten request. Here’s what Yotta Savings says about this: “You can receive one (1) Ticket by sending a handwritten sheet of paper with your name, address, e-mail, and phone number to: 45 East 22nd St. #26B New York, NY 10010. For each completed sheet of paper, you will receive one (1) Ticket. If you want to select your own numbers you should include those numbers on the sheet of paper. If you do not provide numbers, they will be randomly provided. Limit of one request per envelope. The entry will award a Ticket for the drawing that starts on the next Monday, after the mail in was received (not postmarked). “

Below are the prizes and odds of winning through the Yotta Savings lottery:

The prizes and odds of winning through the Yotta Savings lottery.
Yotta Savings odds

How do I sign up for Yotta Savings?

Signing up for Yotta Savings is easy:

  1. You can click here to sign up for Yotta Savings, and all you need to sign up is your name and email address.
  2. If you use my Yotta referral code MICHELLE, then you will get 100 free tickets into the next week’s contest.
  3. To earn tickets to their weekly prize draws, you will have to connect a bank account and make a deposit.

You can use Yotta Savings whether you have an iOS Apple device, or if you prefer Android devices it works as well.

Yotta Savings Referral Code For 100 Free Tickets

Don’t forget, if you use my Yotta Savings Referral code MICHELLE, then you will get 100 free tickets into the next week’s drawing.

This is a great amount of bonus tickets that you get for simply reading this Yotta Savings review, and you can deposit any dollar amount in order to get the extra 100 tickets for free.

All you need to do is use a referral code when you signup. This is a nice little Yotta savings bonus to get you started. The Yotta Savings referral program is great!

Does Yotta Savings work? Can I trust Yotta savings?

Yes, definitely! I have been a member of Yotta Savings for years now and have earned money easily through this app.

Yotta Savings Reviews

I did a lot of research on Yotta Savings, and you can find other Yotta Savings reviews from real customers at:

The reviews were almost entirely positive (except for one person who had a small technical difficulty), so I would say that the Yotta Savings app is definitely something more people should check out.

I know that I am personally excited to try it out. While I don’t play the lottery, it is easy to get tickets just due to keeping money in this savings account, which is super easy!

The Yotta Savings App definitely makes saving money more fun.

The Yotta Savings email address is support@withyotta.com in case you have any other questions.

There are over 5,000 5-star Yotta app reviews as well.

How does Yotta Savings make money?

I asked Yotta Savings this question and they replied with:

“We plan to offer other financial services in the future such as a debit card where we earn interchange revenue and affiliate revenue from other companies.”

Banks pay Yotta Savings, so it is completely free for people like you and me.

What is the Yotta debit card?

Yotta Savings recently came out with the Yotta debit card. You can use your Yotta card on Apple Pay, Google Pay, and Samsung Pay.

With the Yotta debit card, there are no monthly fees and there is no required minimum balance needed!

You can earn 10% tickets back and the chance to get any item you buy for free with the Yotta Debit Card.

Plus, you get a premium metal card when you have 10+ referrals.

There are also no foreign transaction fees, you can use it at over 55,000 free ATMs, and more.

What is the Yotta Lucky Swipe?

Lucky Swipes is when you use the Yotta debit card. When you swipe your Yotta debit card, your next purchase could be free and you find out instantly.

You have a 1 in 150 chance of getting your next purchase paid for by Yotta for free. You can increase your Yotta odds to 1 in 100 for 30 days by referring someone to the Yotta Savings app or if you use your card on dining out.

Many, many people have won $5,000 in a Lucky Swipe so far.

Has anyone won on Yotta?

Yes, people have definitely won on Yotta. Some of their top winners include:

  • Nicolette who won $500,000
  • Crystal who won $37,990
  • Frankie who won a Tesla Model 3

And so much more.

Has anyone won the $10 million on Yotta?

No one has won $10,000,000 on Yotta yet, but you do have a chance every week to try.

Yotta users have already won over $12,000,000 over the years by simply saving money on the Yotta Savings app.

Does opening a Yotta Savings account impact my credit score?

Opening a Yotta Savings account has no impact on your credit score.

Can you have a joint Yotta Savings account?

Yes, Yotta Savings allows for joint accounts. You simply:

  1. Tap on the settings icon when in the Yotta Savings app
  2. Click on Account Info
  3. Then tap on Add joint account holder

Then follow the remaining steps in the app.

Is there a minimum balance for my Yotta Savings account? Is Yotta free to use?

For balances $5.00 or below, there is a monthly service charge of $0.50, debited from your Yotta account balance on the first of the month.

There are no other fees for using your Yotta account.

If you have over $5.00 in your Yotta Savings account, then it is completely free for you to use.

What is Pool Play on Yotta Savings?

Pool Play on Yotta Savings is a new feature. Pool Play increases your changes of winning in the Yotta Savings app, as you can join groups with friends and share Yotta prizes.

Here’s what Yotta Savings says about Pool Play:

“With Pool Play, you choose a portion of your tickets that you want to allocate to a group. Let’s say you allocate 10 tickets and your other friends allocate 90 tickets. Since you contributed 10% of the total tickets to that pool, you will win 10% of the total prizes won by that group in a given week. So if the group wins $10 total, you would win $1.”

Which savings account has the highest APY?

With the value of the prizes and the Yotta Savings interest rate, Yotta Savings has one of the highest that I have seen. There are many lucky Yotta Savings winners all the time, too!

Has anyone won a Tesla on Yotta?


It looks like at least two people have won a Tesla Model 3 each on Yotta Savings so far. Other big winners include Crystal who won $37,990.00, Leanne who won $37,990.00, Catherine who won $37,990.00, and more.

What are Yotta Boxes?

This is one of Yotta’s newest features, so you will want to make sure you are on the latest version of the Yotta app.

When you buy something with your Yotta debit card, Yotta credit card, or you deposit a paycheck into your Yotta Savings account, you will receive a Yotta Box.

In each Yotta Box, there are prizes such as Yotta tickets or cash.

For example, the Yotta Paycheck Boxes may include a prize such as being able to double your paycheck.

Who started Yotta Savings?

Yotta Savings was started by Adam Moelis and Ben Doyle.

How do I get my money out of Yotta? How long does it take to get money out of Yotta?

It’s easy to make a withdrawal from your Yotta Savings account. You simply go to the Yotta app on your cell phone and click on the bank icon at the bottom. Then, click on the withdraw button.

It then takes around 2-3 days for your funds to transfer to your bank account.

Is Yotta Savings worth it? – My Yotta Savings Review

I hope you enjoyed this Yotta Savings review. I still have the mobile app on my phone and check on it frequently as it is so much more fun than a traditional savings account.

There is no waitlist to join, and the weekly lottery drawing are enjoyable. I don’t see Yotta bad reviews, and that’s because it is an interesting and fun new way to get yourself to save more money.

I personally signed up for Yotta Savings, and I think it’s a fun way to get people into saving more money. So many people enjoy playing the lottery, and this can be a great way to motivate people to save their hard-earned income.

I think the Yotta Savings app will be extremely popular soon, and I definitely recommend trying out this savings account by opening your own Yotta account. It is quite competitive to a high-yield savings accounts, after all, and works similarly to how online savings accounts work.

I have been using the Yotta Savings app for about 4 months now, and I recommend trying it out. I have found it to be a fun and motivating savings app. I log into the Yotta Savings app quite regularly just to see how my tickets are performing, haha!

You can click here to learn more about the Yotta Savings app.

What do you think of the Yotta Savings app? What questions do you have about Yotta Savings? What other questions would you like me to answer in this Yotta app review?

Michelle Schroeder-Gardner

Author: Michelle Schroeder-Gardner

Hey! I’m Michelle Schroeder-Gardner and I am the founder of Making Sense of Cents. I’m passionate about all things personal finance, side hustles, making extra money, and online businesses. I have been featured in major publications such as Forbes, CNBC, Time, and Business Insider. Learn more here.

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  1. Ashley Shelton

    Wow! I’m going to look into this for sure. I like to buy the occasional lottery ticket… with a .2% return, you kind of already win!

  2. Tara

    Thank! I just signed up with your referral code!

  3. Paul

    Great write up. Yotta is 🔥

  4. Lea

    Hi Michelle, I signed up and used your referral code. Thank you.

    1. Shane

      This is my second week using the app and I’ve really enjoyed getting some money back via winnings while also having fun!

  5. William O’Cain

    What is the procedure to withdraw monies from an account?

  6. Anisa

    Hi Michelle, I just signed up with your referral code. Let the savings begin!