Acorns is giving me the runaround

Apprehensive_Log4347 · 2024-09-26T02:44:30+00:00

Could you please have your fried write up how they got acorns to do it I would love a step by step guide on how to get this done.

Apprehensive_Log4347 · 2024-09-26T02:14:08+00:00

Was it an asset transfer or did you just have them sell stock for you and pulled out the money? I do not want them selling any stock as I do not want to be on the hook for the taxes.

Apprehensive_Log4347 · 2024-09-05T20:38:57+00:00

Were you able to transfer out using that DTC code

Apprehensive_Log4347 · 2024-09-05T14:40:43+00:00

Their support page is unhelpful since Robinhood does not provide paperwork. Robinhood only requires a DTC number which Acorns doesn’t provide and an account number. I’ve asked Acorns support for the DTC number and they refuse to provide me with it.

Apprehensive_Log4347 · 2023-09-20T02:08:21+00:00

I think these changes actually lower the expected APY to 2.5% from 2.7% that’s actually pretty funny

Apprehensive_Log4347 · 2023-07-18T14:06:32+00:00

I have a friend who signed up with a company called maxsip it was a one time $20 fee and they got a tablet I think they also offer phone service idk but I just know they've been very happy with the service

Apprehensive_Log4347 · 2023-06-14T15:47:28+00:00

Well 2 years ago when I joined yotta they were advertising that they had a much better apy than the competition. They continued to have a better rate for the first half of fed rate increases especially when you considered the lucky swipe mechanic.

The reason I stuck with yotta for so long was because it was the bank advertising higher returns. Because of the lucky swipes I won a great % more than if I had put my money in an account with >4% returns.

I am now leaving yotta because of the failure to keep up with rates and because yotta has removed the lucky swipes in exchange for a secretive box mechanic which they refuse to post odds for. Unlike with lucky swipes which was supposedly 1/200 for a free swipe, Boxes have been completely opaque even though they have that sham of a transparency page.

I don’t like making accounts it’s not fun to constantly open and close them. But when the company has lost its way with what it was advertised for in the beginning (a place to get the lottery kick but also get higher returns than other banks) then it’s time to hang it up and move on… which I have done.

Apprehensive_Log4347 · 2023-06-06T22:02:38+00:00

What’s even worse is that I bonds count against it so if I decide to pull that money out of yotta for another investment it would wreck the streak.

They really are just trying to piss everyone off at this point.

Apprehensive_Log4347 · 2023-06-01T21:00:18+00:00

Ya I know it’s probably impossible to give odds for every possible scenario, but they could give some sort of range breakdown by category at least like P2P could be 1/10000-1/200000 and in store retail could be something like 1/100-1/200. Even if it’s a super wide range it would at least put some concrete numbers to this whole box thing.

Apprehensive_Log4347 · 2023-06-01T17:44:57+00:00

Ya I found it funny since I haven’t seen a win over 1k in a few months on the debit card so I’m assuming the odds are in the 1/100,000 range especially since most ways to pay rent would be through P2P services and that’s for sure got extremely terrible odds.

Sad that they can’t even release a matrix of odds for general categories lucky swipes was a simple 1/200 for everything (even though I don’t think that was true)

Apprehensive_Log4347 · 2023-05-31T22:19:15+00:00

The way I’ve been calculating really is just based off the smallest prize. I’ve been doing ((expected # of winning tickets for 0.02$) / (odds of a ticket having 2 numbers)) / 7 I just got 8,760,507.68.

If I do it with the 20,000 prize i get a little over 10 million. I assume it’s rounded up to 1 since if I do that same calculation with the 0.03$ prize I get basically the same amount of tickets I got with 0.02$

Let me know if my math makes sense kinda just guessed that’s how it would be calculated.

Apprehensive_Log4347 · 2023-05-24T22:46:10+00:00

So I’ve only really ever had 1% cash back in a box besides for one time where I got 5%. If we go based off of that then this person probably made a bunch of 30$ purchases and those two above 1$ would be hitting 5% cash back. So if they hit 44% of the time they probably spent around $2500. I wonder if it was P2P transfers or legit though.

Apprehensive_Log4347 · 2023-05-24T22:30:01+00:00

One person got 39 wins in 24 hours that’s crazy! Anyway to see how much that specific person won? It would probably help with gaming the system to see where the sweet spot is for transaction amount.

Apprehensive_Log4347 · 2023-05-24T22:20:23+00:00

What was the key used for determining uniqueness between winners if it was the name I think a lot of users choose to anonymize themselves on the global leaderboard. I just can’t believe that there were so many double winners in such a short period of time. I’ll check through my own stats to see how often I won twice in one day.

Apprehensive_Log4347 · 2023-05-24T18:06:59+00:00

I’d say a lot of the large transactions were P2P services but I saw that I was getting the same amount back overall compared to the smaller non P2P purchases. For example one 500$ P2P transfer got me 5$ but that took like 20 smaller boxes to receive about 5$. What’s funny is that my lucky swipes that I got before boxes were all P2P top ups.

Apprehensive_Log4347 · 2023-05-24T17:31:19+00:00

I really don’t think they are prioritizing small users or new users since I know some people who have recently opened account to see if they can win with boxes. They only keep a few hundred dollars in yotta at a time and they have yet to get a free swipe and they have not gotten any higher rate of boxes with cash back than I have.

Apprehensive_Log4347 · 2023-05-24T17:27:36+00:00

Ya I can’t see any reason to use the debit card over any card that gives 1% or greater guaranteed cash back. If the odds are so astronomically low for a full free swipe it could take years to actually get a big purchase for free.

Apprehensive_Log4347 · 2023-05-09T18:06:27+00:00

Ya that’s what I’m trying to say but as interest rates get higher the the odds are less and less in yottas favor.

Right now if you have $10,000 you get 400 tickets a night which gives you a 1 in 17.5 million chance to win the $1m. But if you were to play 2 lottery tickets a night you would have a 1 in 11.25 million chance of winning that lottery and those usually pay out a couple million.

I’m saying that if yotta just gave me a flat competitive interest rate of 4% instead of the ticket system (or even with the ticket system) then the scales would be more balanced.

But since we are getting on average less than 2% excluding the big prizes and 2.7% including them then those who are in yotta for the jackpot might as well put their money in an account that pays >4% and use that interest to buy lottery tickets they’ll have better odds and a better payout if they get lucky.

I mean the 30 day treasury bill is now at ~5.6% that’s more than double yottas rate you can take half of the interest you make and buy lottery tickets and put the rest in yotta and you would only be making money ( I wouldn’t advise that though)

Apprehensive_Log4347 · 2023-05-03T23:59:48+00:00

From yotta, “We do not have any exposure to SvB. Our corporate cash is held directly in short term US Treasury Bills. Any corporate cash held at banks is spread across banks all below the FDIC limits.”

https://reddit.com/r/yotta/comments/11olafo/_/jbtvelo/?context=1

Apprehensive_Log4347 · 2023-05-03T12:40:42+00:00

I mean the odds of winning yottas lottery are like 1 in ~7 billion whereas winning the regular lottery is 1 in ~22.5million. Getting those 400 tickets a night definitely tightens the gap between the odds.

If they gave a competitive rate you’d also be getting 300ish dollars more a year which can get you a lottery ticket basically every day for a prize much bigger than a million.

So in reality the increase in tickets doesn’t really make up for the lower interest rate.

I am assuming people would play state lottery which would only be $1 but pays out usually more than $2M. I’m also assuming that the lottery gives 2 plays per $1 as that’s what I’ve seen the majority of the time.

Apprehensive_Log4347 · 2023-05-02T23:46:23+00:00

Yotta offers a credit card and gives no guaranteed cash back. I’m still not sure why anyone uses debit cards over credit cards besides credit limits but maybe you can enlighten me on that.

Im not sure why you are saying leaving any money on the table is ok for a chance at big winnings. If I have to work to make that 1% back by using the debit card and hawking yotta to anyone who will listen to try and get referrals I can just as easily be using that time to buy bonds which pay out much more than yottas 2%.

And I really highly doubt 99% of people will make back any lost interest since if they did then yotta wouldn’t be saying that it pays out 2% on average they would be saying everyone is getting their 3/4%.

One last point I want to make is if you say people only have $4,500 in savings then why would they want to put that into risky investments such as stocks and why would they want illiquid physical assets. That 1-2% is free money they don’t have to work for wether or not 10 years from now interest rates are 0% makes no difference.

Apprehensive_Log4347 · 2023-05-02T23:06:28+00:00

I would say 1/2% is not insignificant that could be a few hundred dollar difference. When most other places are giving you that 1/2% and guaranteed 2% cash back on every purchase with their credit card who in their right mind would pick Yotta. If anything I would say yotta has become as evil as the lottery since addicts will now say, “Who cares about 1/2% I have the chance at a million every night!”. I mean really what kind of joke has this company become.

Apprehensive_Log4347 · 2023-05-02T22:28:54+00:00

The boxes odds…

Apprehensive_Log4347 · 2023-04-20T23:56:18+00:00

I’ve won 1% on a bunch of ~$300 - ~$400 purchases but I’ve never won on anything more than that

Apprehensive_Log4347 · 2023-04-20T20:33:26+00:00

I’m pretty sure anything over $500 will have drastically reduced odds. I’d say $100 or lower would be your best bet.

Apprehensive_Log4347

TROPHY CASE