What happens to your Yotta accounts when you die
No beneficiary or trust option on any account, so they pass through the estate
Yotta is no longer operatingNo longer operating, effective May 2024
Yotta's savings and debit accounts stopped working in May 2024, when Evolve Bank & Trust halted payment processing for Synapse Brokerage, the firm that held Yotta customer accounts. Yotta now offers sweepstakes games, not deposit accounts, and there is no successor deposit institution. Balances are returned by the partner banks that hold the funds, and the CFPB has set aside Civil Penalty Fund money for consumers harmed in the Synapse bankruptcy.
Yotta does not currently support beneficiary designations, transfer-on-death registrations, or trust account titling on any account type. All Yotta accounts pass through the estate at death and may require probate.
When an account holder dies, the executor or administrator will need to contact Yotta with a death certificate and legal authority documents to claim account balances. The process and required documents are covered on the death claim page.
Yotta does not currently support beneficiary designations (POD or TOD) on any account type. All accounts transfer through the estate at death and may require probate.
Why trust accounts are not available
Yotta does not support retitling accounts into a trust, naming a trust as beneficiary, or any other probate-avoidance mechanism. Account balances transfer through the estate at death.
Yotta Prize-Linked Savings (Discontinued)
No longer functional. The Deposit Agreement Yotta publishes (an Evolve Bank & Trust account agreement, last revised May 2023) allows the account to be owned only by one person and does not allow payable-on-death or in-trust-for titling. From October 2023 Yotta customer accounts were held with Synapse Brokerage LLC, and customer funds were swept into accounts at FDIC-member program banks. Transfers and card transactions have not worked since May 2024.
Yotta Debit Account (Discontinued)
No longer functional. The Yotta Mastercard Debit card was issued by Evolve Bank & Trust. The Deposit Agreement Yotta publishes allows the account to be owned only by one person and does not allow payable-on-death or in-trust-for titling. Card transactions have failed since Evolve froze cards in May 2024.
Sources
Data sourced from Yotta primary sources (4 pages reviewed). How we research.
Yotta estate support
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Estate requests go through general customer service.
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