Key Points
- Yotta users are facing disruptions due to a breakdown of ACH processing.
- Synapse Brokerage have gone into administration, causing the banks connected to Yotta to be unable to complete transactions and access funds.
- Yotta are working to resolve the disruptions as soon as possible and get their services back on track.
Yotta/WithYotta Withdrawal – How to withdraw my funds now?
There’s a lot of confusion surrounding Yotta sweepstakes casino at the moment. Many users have been left confused on what they should or should not be doing in regards to account closure, transactions and withdrawals. Here’s what we know so far, and what you need to know for your next steps.
What has happened at Yotta?
Yotta uses a company called Synapse Brokerage to deal with its ACH (Automated Clearing House) processes. This bridges the gap between Yotta and the banks that hold their user’s funds. However, Synapse Brokerage has recently gone into administration, leaving Yotta without that bridge. Therefore, the banks have no way to get the money over to Yotta. This means that users cannot make transactions or withdraw their money.
What should you do now?
Do NOT close your account:
It is important that you keep your account active to ensure there are no issues when services are resumed. If you close your account you may struggle to regain access to your funds. So, keep it open! For more information on closing your account, check out our
Yotta/Withyotta Accounts closed – What to do?
guide.
Keep updated:
Yotta are working hard to get their services back online and are posting regular updates to their “Yotta Payment Processing Status Page”. Keeping an eye on this is the best way for you to know when things are back to normal, if there’s a change in guidance or to know what steps you should be taking.
Make arrangements:
If you use Yotta for your daily transactions, direct debits or wage deposits then it is important to open a bank account with an alternative provider and change those over while services are not active.
How to withdraw your funds
Unfortunately, at this exact moment, you can’t. The ACH processes that would make that possible are not active, therefore the money cannot be moved until they are reactivated.
However, you can start the process to withdraw and put your funds to ‘pending’ and then they will be withdrawn when Yotta resolves the issues.
These are the steps to follow to start the proceedings:
- Open the Yotta mobile app and sign in
- Tap the Money tab at the bottom of the screen
- Tap the “Transfer Money” tab
- Press “Withdraw Money” in the pop-up
Alternative options to Yotta
Although there are no like-for-like
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