High interest saving accounts having been offering great rates recently, but there is a new savings account on the market called Yotta. And it comes from the concept of the Premium Bonds Program in the UK which is a prize linked savings account. Yotta Savings offers a different experience to save money and possible win more money. But, while you have the chance to win $10 million dollars, is this program sustainable? Or will it just be another flash in the pan?
00:00 – start
00:42 – idea for Yotta
1:43 – odds of Premium Bonds program
2:38 – Yotta how it works
4:18 – Using Psychology
5:20 – Odds of winning $10M
6:13 – Yotta interest rate
7:22 – big question
9:24 – Wrap up
100 Yotta Tickets –
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25 comments
Yotta, yotta, yotta.
Sounds like the beginning of a Ponzi scheme. Graham is smarter than this
Used your code
Better to save your money and have a chance of winning than spending your money on lottery tickets amd having nothing left to show for it.
4 day leftovers still cold in the middle? Oddly very specific… hmmmmm
Basically you are buying a perpetual recurring lottery ticket in echange for your interest earnings, which at current interest rates isn't much at all
Guaranteed losses due to inflation being at least 2%-3%.
Thanks, I wanted to sign up, but it is hard when both of those you tubers are invested in the Yotta.
This would be better if the top prize was $1M but they had more frequent winners. As it is now, the odds are so bad it’s not much of an incentive.
Well, that name just inspires confidence, doesn't it. Sorry, I don't gamble.
He should have called it Askin' Sebastian instead of telling everyone Sebby is short for Sebastian all the time. smh
That’s a bummer, I can’t use your code. I used Sebby’s code last week when I signed up
I’m not going to open an account because it almost feels like a Ponzi scheme.
Very good video! I am keeping Yotta on a short leash. If I don't earn more than my savings accounts in the next month or so I'm done with them.
Great video man! Love the flash shirt!
Video topic suggestion: Paypal Key. It is PayPal's virtual card number generator that works with major credit cards for online purchases. Biggest advantage: all transactions code as a Paypal purchase, so it counts towards the 5% Paypal category that Chase Freedom and Freedom Flex are running.
Hi Waller, you should do a video on the new Wyndham cards especially since the new business card gives you diamond status to match to ceasars diamond status.
I had a Zurich account in 2001, 8% interest. I have a feeling it is downhill from here, into negative interest territory. A few years from now, Amex and Ally will be our hero for not charging us to hold our money.
No need for gambling in Yotta if those idiot central bankers called the Fed would normalize interest rate.
This was a very good review. Very thorough and you've done your research. I might give it a try and use your code. Take care Dustin and keep the family safe!
My thoughts – gimmicky. Pass.
Enjoyed your review. It's gimmicky, First heard about it on Graham stephan when he invested in YOTTA and then checked Shebby's vlog. 3 weeks ago, I invested $10k to try it out. The sign up CODE bonus applies for only 1 week. The same with referral perks so it is a very brief advantage.
Yotta currently does not have the ability to name beneficiaries which for millennials is a bad thing. The Yotta reps are responsive but they respond like juveniles…"yup", "yeah" "we're working on that". 😆 I've lost interest but will check it out in a few months to see how it performs. AMEX
, CITI and ALLY all have better base rates. Customers can only withdraw $40k/month so this isn't suitable as a REAL savings account.
If YOTTA wants to help nonsavers, why require a checking account to apply?
Dustin, YouTube recommended this video to me, which was interesting on the tax consequences of Yotta’s prize winnings! https://youtu.be/ZrClYmEI8W8
I put a thousand dollars in and had 91 more cents at the end of one month.
How much do you think it is worth putting in? I've got $5k in PNC at 0.65% return and was going to put the same in yotta and compare the returns in 3 months. Where do you put your emergency funds in Dustin?