Recap: Yotta Debit Card, Bed Bath & Beyond No Longer Sells 3rd Party GC & More

 

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Komma
Komma (@guest_1354602)
March 28, 2022 14:02

Keep in mind Yotta does have a low chance of winning, and they do have a strict/fairly low monthly/yearly deposit limits.

Matthew
Matthew (@guest_1354537)
March 28, 2022 12:27

That Yotta post is making me salivate – I’m surprised I didn’t notice the categories sooner, the winner/leaderboard page is almost half filled with transfers getting reimbursed.

Kris
Kris (@guest_1354603)
March 28, 2022 14:03

I assume one of three things. 1. They got their account closed for doing it and now ruining for those other people that were doing it. 2. Yotta already shut down or soon to shut down the method. 3. Get in quick bc any scenario, once it starts getting plastered on the internet, it will be killed soon. 4. As komma just noted, clickbate and you still got be incredibly lucky to hit a win.

Christian H
Christian H (@guest_1354911)
March 28, 2022 21:27

This was explained by the CEO of Yotta during an Ice Coffee Hour podcast (hosted by Graham Stephan) that he knows people are doing this, and is okay with it because whoever is allowing the transfer (Venmo + Cash App were his examples) pays a small fee, usually 1%, to make the transfer a debit card. They normally do this as a cost to incentivize more people to use their app since you can make transfers instantly from any linked debit card.

Yotta even has a few articles on their site how to do the transfers to “get free, legal money” because they make a small amount on each transfer even after calculating the expected payout, plus it drives attention to their platform which is good for their growth business model.

I expected Cash App or Venmo to shut down accounts that abuse this now, but it seems like its still very possible to manipulate.

Jon
Jon (@guest_1354481)
March 28, 2022 10:56

That Yotta post was pointless. A teaser of an upcoming, actually informative post at best.

travelinpoints
travelinpoints (@guest_1354875)
March 28, 2022 20:45

let me grab my spoon…

Gemarakop
Gemarakop (@guest_1354458)
March 28, 2022 10:04

Shouldn’t ne hard to make it up

Gemakarop
Gemakarop (@guest_1354519)
March 28, 2022 11:59

Shouldn’t ne make to up it hard