from Yotta today Hi Max, Unfortunately, for the time being, there is no access to funds or the ability to move money in any capacity. This includes payments, wires, checks, all types of card transactions and withdrawals. There are no alternate money movement options for accessing funds until this issue is resolved. We do not have any estimates or updates on an ETA for resolution. Please know we are doing everything we can to restore banking services.
I'm sorry for you guys that are in this predicament, but the writing on the wall for Yotta was with all their convoluted changes in March. I pulled out everything I had left with them after that. Hopefully with the FDIC insurance you will eventually be able to get your money back.
@@FlintIronstag23yep. Even Evolve saw that Synapse Brokerage was on thin ice last summer which initiated their attempt at severing that partnership. It’s a shame that risk wasn’t communicated to users, or even to Fintechs such as Yotta and Copper.
The Yotta situation got exponentially worse. I cannot access my money at all since all debit, credit, and ach transactions are frozen. Literally all my money is untouchable and I cannot pay my bills anymore.
Similar situation with a different platform affiliated with Evolve Bank & Trust except not my main account so now I just need to switch some of my autopays so that my bills will still get paid. Seems like the fed needs to step in so that you and others that have this as your primary financial service can get immediate access to your funds again. Doesn't make sense to me that if our funds are held with FDIC bank Evolve that they can restrict access to millions of user's deposits without repercussions. Only reason I felt comfortable putting money in an unknown fintech was knowing my money was actually being held with a supposedly reputable bank that was insured.
Agreed. They’ve changed so much since when they first came out. A shame how far they’ve fallen and lost track of what people signed up for in the first place.
I agree apparently this has been an issue since last week but the account I have that has been impacted so far wasn't brought to my attention until today when my debit card wouldn't work. It's hard to find out any real info. Just a lot of finger pointing of who is to blame but all the consumers are unable to have access to their funds. Luckily for myself that account is only a few hundred dollars but others online have all of their money with some of these fintechs and unable to buy food and gas or pay bills. People's direct deposits apparently also rejected so not sure why there hasn't been more talk of this in the news
After withdrawing 10k from them on Friday, I'm not thrilled to get a message this morning to say there are delays with ACH processing... Is my money at risk??
Choosing a bank that doesn't offer FDIC insurance and you wonder if you are at risk? No, it's risk-free. You can't get your money back if they spend it all up their nose yachting in Ibiza. Why would you put your money in an insured account when you can risk it all here to win a Golden Ticket, which was the priority when you created your account and placed your bet?
Who trusts Graham? The guy puts out nothing but clickbait titles and don't forget about his promotion of FTX. Frankly if you're that stupid to put that much money in a casino bank to "stick it to wallstreet" you would've screwed up buying a house anyway
Fast forward to today 6/28/2024 all end-user accounts are frozen.🤦♀️ (Including mine) They are now having court hearings. The blame seems to be pointing to Synapse. For the ones who closed their accounts, good for you! Lesson learned. I will never again have my paychecks deposited into an account run by a Fintech company. Too many hands in the pot when shit 💩 hits the fan
I did imitate a withdrawal on May 10th through the Yotta app that was supposed to settle today, but as of yet it didn't. Fortunately, I already withdrew most of my funds already.
Thank you because I have been wondering wtf happened to my paycheck!!! This shit is just not fair at all, it ain't right!!! Well it was fun while it lasted… 🤦🏽♂️ Thanks for the info tho…😭👍
I used Yotta to save for my wedding in September 23, and taxes for 2023 as a self-employed contractor. After paying my taxes I withdrew all my money in March 2024 since all the weird features, games and yottacash was just making it more complicated and less transparent. Yotta used to be awesome when it first came out, I have no idea how they've screwed it up so badly. So glad I did before all this fiasco. I feel bad for all those still stuck.
I guess they were in court today. I guess Synapse is terminating all employees by end of the day today. I’m not sure what’s going on, and I don’t fully understand wtf is happening. I was looking at Reddit and that’s how I found out all of this was going on.
I don’t actually think that’s the takeaway here. I’m posting a video about why this happened in a few hours (and it looks like Coffeezilla just beat me to the punch even though I haven’t watched his video yet, I can guess what it’s about)
im very confused, i downloaded yotta to gamble, but i won my 50$ and deposited it, and now i cant gamble, it only shows yotta ball, games, and accout, and my yotta savings isnt letting me play the games with it i am confused, and is there a way to instantly transfer the money? or is it only the 3 days wait
My sister has been trying to take money out of Yotta for days, and it's just showing up as "processing" ...any idea what Mike is going on, or how she can get her money out?
The man I talked to said they are in court right now to try and resolve everything. If things don’t go as planned since our money is FDIC ensured they should send our money through the mail with the address on the account. They are trying to reopen the accounts apparently
Just published a new video about the situation. ua-cam.com/video/NYk_s1OMwRw/v-deo.html You can't "update" a video on UA-cam unfortunately, so this was accurate at the time and LONG before we knew the scale of the failure of the underlying BaaS provider(s).
Those people hurting are idiots who got greedy." I just use it for my banking needs" then just use a credit union if you don't want to touch the big banks. They got greedy and got burned just like everyone who touches these UA-cam scams
from Yotta today Hi Max,
Unfortunately, for the time being, there is no access to funds or the ability to move money in any capacity. This includes payments, wires, checks, all types of card transactions and withdrawals. There are no alternate money movement options for accessing funds until this issue is resolved.
We do not have any estimates or updates on an ETA for resolution. Please know we are doing everything we can to restore banking services.
😔
Same @@BrendanEvan
I'm sorry for you guys that are in this predicament, but the writing on the wall for Yotta was with all their convoluted changes in March. I pulled out everything I had left with them after that. Hopefully with the FDIC insurance you will eventually be able to get your money back.
@@FlintIronstag23yep. Even Evolve saw that Synapse Brokerage was on thin ice last summer which initiated their attempt at severing that partnership. It’s a shame that risk wasn’t communicated to users, or even to Fintechs such as Yotta and Copper.
Bro. We’re fkd. Our money is stuck now and we can’t use or withdraw it.
I withdrew my money on May 10th when I got the letter and my money hasn’t been deposited back into my account…
Same here
Same🥲🥲🥲
Me too!!!
😢
It's gotten way worse bro...all. Funds are locked
Update video about this here: The End Of Modern Banking As We Know It
ua-cam.com/video/NYk_s1OMwRw/v-deo.html
@@BrendanEvan awesome video bro I subbed
I took my money out after the last update. I just wanted a potential for getting "lottery" tickets for my money. It just turned to garbage
The Yotta situation got exponentially worse. I cannot access my money at all since all debit, credit, and ach transactions are frozen. Literally all my money is untouchable and I cannot pay my bills anymore.
yep synapse bank is gg
Similar situation with a different platform affiliated with Evolve Bank & Trust except not my main account so now I just need to switch some of my autopays so that my bills will still get paid.
Seems like the fed needs to step in so that you and others that have this as your primary financial service can get immediate access to your funds again.
Doesn't make sense to me that if our funds are held with FDIC bank Evolve that they can restrict access to millions of user's deposits without repercussions. Only reason I felt comfortable putting money in an unknown fintech was knowing my money was actually being held with a supposedly reputable bank that was insured.
How do we get the money out?
@@lregwoc2it’ll take litigation bout a year or so you’ll get a check in the mail
@lregwoc2 we can't please contact the FDIC and make a report everyone do this and they will resolve it quicker
I thought Yotta was too good to be true when I heard about it. Guess I was right.
Very obvious. Don't be fooled. Nothing is free.
Got about 5k tied up in this mess right now..wtf
Can't wait to see your next video about Yotta! Everything is froze...lots of heartache out there!
Fr
Agreed. They’ve changed so much since when they first came out. A shame how far they’ve fallen and lost track of what people signed up for in the first place.
I thought it was going to be so good that I planned to put a lot of money into it.
@@tonydawson8908by that you mean "this get rich quick scheme failed me again"
You should make a video on the Synapse/Evolve Bank fiasco
I agree apparently this has been an issue since last week but the account I have that has been impacted so far wasn't brought to my attention until today when my debit card wouldn't work. It's hard to find out any real info. Just a lot of finger pointing of who is to blame but all the consumers are unable to have access to their funds. Luckily for myself that account is only a few hundred dollars but others online have all of their money with some of these fintechs and unable to buy food and gas or pay bills. People's direct deposits apparently also rejected so not sure why there hasn't been more talk of this in the news
Looks like they have froze all accounts since the 8th according to the Synapae court hearing this afternoon.
As of 5 days ago the FDIC says that they will not step in
After withdrawing 10k from them on Friday, I'm not thrilled to get a message this morning to say there are delays with ACH processing... Is my money at risk??
I sure hope not
According to Yotta Reddit thread. No one can withdraw or use their debit cards. So I’d say we’re in a bit of a pickle at the moment. This is big.
Sounds like a long scam. Write the SEC.
Choosing a bank that doesn't offer FDIC insurance and you wonder if you are at risk? No, it's risk-free. You can't get your money back if they spend it all up their nose yachting in Ibiza. Why would you put your money in an insured account when you can risk it all here to win a Golden Ticket, which was the priority when you created your account and placed your bet?
@@zAlaska it’s in a FDIC bank the middleman that does the transfers is what’s messing everything up.
I withdraw my money one week ago and I’m still waiting… I’m so so worry at this point. 🥺
I am so scared I will never see my money.
@@jillmoore5820 I know me too :((
I only used it for savings guess I’ll be shutting down and go straight to ally and treasury/muni money market funds
I’m out. Whatever they’re doing is a downward spiral.
Sinking like the titanic
I wonder if their casino thing was just a cash grab toward the end.
My house down payment was all in Yotta because I knew Graham Stephan was a owner and trusted him.
Withdrawals are frozen
Why would you trust a UA-camr with your money?
Who trusts Graham? The guy puts out nothing but clickbait titles and don't forget about his promotion of FTX. Frankly if you're that stupid to put that much money in a casino bank to "stick it to wallstreet" you would've screwed up buying a house anyway
Fast forward to today 6/28/2024 all end-user accounts are frozen.🤦♀️ (Including mine) They are now having court hearings. The blame seems to be pointing to Synapse. For the ones who closed their accounts, good for you! Lesson learned. I will never again have my paychecks deposited into an account run by a Fintech company. Too many hands in the pot when shit 💩 hits the fan
It's been this way for 6 weeks (since 5/19)
Here's a video I made related to the topic overall:
ua-cam.com/video/NYk_s1OMwRw/v-deo.html
I did imitate a withdrawal on May 10th through the Yotta app that was supposed to settle today, but as of yet it didn't. Fortunately, I already withdrew most of my funds already.
Omg I did it 1 week ago and still waiting for my money im so worry at this point 😩
Synapse problems & that $100K winner in the new YC rules pushed them over the edge. I had one high win on debit. All the newer stuff is nonsense.
People putting their hard earned money into this POS blows my mind..smh
Made an update today to show the underbelly of the failure: ua-cam.com/video/NYk_s1OMwRw/v-deo.html
This sucks. I really loved it when they first started.
All info is reddit, what is really going on. A very shady situation is unfolding.
Thank you because I have been wondering wtf happened to my paycheck!!! This shit is just not fair at all, it ain't right!!! Well it was fun while it lasted… 🤦🏽♂️
Thanks for the info tho…😭👍
I used Yotta to save for my wedding in September 23, and taxes for 2023 as a self-employed contractor. After paying my taxes I withdrew all my money in March 2024 since all the weird features, games and yottacash was just making it more complicated and less transparent. Yotta used to be awesome when it first came out, I have no idea how they've screwed it up so badly. So glad I did before all this fiasco. I feel bad for all those still stuck.
I guess they were in court today. I guess Synapse is terminating all employees by end of the day today. I’m not sure what’s going on, and I don’t fully understand wtf is happening. I was looking at Reddit and that’s how I found out all of this was going on.
Thaaaat doesn’t sound good
How is it that you keep referring to this app as a "service"? Services actually do things. Yotta never has, even in its original format.
Bro I missed this email and I have $700 tied up in my account.
Same!? $712 frozen…😢
Update video about this here: The End Of Modern Banking As We Know It
ua-cam.com/video/NYk_s1OMwRw/v-deo.html
Still don’t have our money back
Making a video about this today, the bigger issues that lead to this problem
Waiting to withdraw funds but they froze it it seems, hope this is not result of another bank going under
Got $14k held in this mess. Asked to take it out over a week ago. Still don’t have it. Trying not to panic
SO sorry, to hear. This sucks
Shouldn't have been greedy/stupid
When you thought it couldn't get any worse, it does 💸
sucks that people like Graham and other youtubers pushed this trash, im suprised by the people who got tricked... genuinely somewhat sensible people
I don’t actually think that’s the takeaway here. I’m posting a video about why this happened in a few hours (and it looks like Coffeezilla just beat me to the punch even though I haven’t watched his video yet, I can guess what it’s about)
im very confused, i downloaded yotta to gamble, but i won my 50$ and deposited it, and now i cant gamble, it only shows yotta ball, games, and accout, and my yotta savings isnt letting me play the games with it
i am confused, and is there a way to instantly transfer the money? or is it only the 3 days wait
We are all confused at this point!
Ok i subbed and everything, whats up with the axe lol.
I like em
@@BrendanEvan fair enough, I do too. Got a few old swedish made hatchets myself.
Yatta Bank is not FDIC-insured. Is this one of the reasons why you chose to put your money into Yatta?
yes it is, www.withyotta.com/security
My sister has been trying to take money out of Yotta for days, and it's just showing up as "processing" ...any idea what Mike is going on, or how she can get her money out?
I got an email this morning that they are having ACH issues with their partner banks. Aka they can’t process transactions right now
Do you think this means imminent collapse? Hopefully the money truly is safe with FDIC?
The man I talked to said they are in court right now to try and resolve everything. If things don’t go as planned since our money is FDIC ensured they should send our money through the mail with the address on the account. They are trying to reopen the accounts apparently
Cute
You might want to update this because this video is coming across as tone deaf to people who are really hurting
Just published a new video about the situation.
ua-cam.com/video/NYk_s1OMwRw/v-deo.html
You can't "update" a video on UA-cam unfortunately, so this was accurate at the time and LONG before we knew the scale of the failure of the underlying BaaS provider(s).
Those people hurting are idiots who got greedy." I just use it for my banking needs" then just use a credit union if you don't want to touch the big banks. They got greedy and got burned just like everyone who touches these UA-cam scams
Going to cancel my card.
They’ve already done it.
I closed it down last month thank Christ (not even religious but I’ll shout him out this one time)
I wish id gotten that email. I got nothing.
Lost 224$ to this it didnt do my transfer then it didnt process my paycheck :/
Im sorry to hear that, this really sucks