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I hope everyone reading this post knows how easy it is for Yotta to open any account at any other brokerage with this information. From there, they could initia

I hope everyone reading this post knows how easy it is for Yotta to open any account at any other brokerage with this information. From there, they could initiate a transfer from your OTHER (non-Yotta) brokerages and drain your account. It really is that easy with the in-kind (or ACAT) process. Even if Yotta isn't nefarious, they could be hacked and a bad actor could use your data to accomplish the same thing. I recommend locking down all of your investment accounts, Fidelity specifically has a lockdown mode designed for this. You can still trade/add money/pay bills, but no one can drain your account just because they opened up another account with your SSN. https://www.nerdwallet.com/article/investing/switch-brokers-move-investments https://www.nerdwallet.com/article/investing/switch-brokers-...

saxonww 4y ago
Yeah, this is crazy. Do not have 3rd parties do this on your behalf. That said, I just tried to sign up for a Treasury Direct account, and while it was 'successful,' I immediately got an email saying they could not verify some of my information and so my account was on hold pending receipt of a notarized form I have to mail. For my protection. It says the average approval time for this form is up to 13 weeks, so I can probably forget about I Bonds this year.
- mritchie712 4y ago
  Yotta likely doesn't solve the issue you bumped into though
  - UncleMeat 4y ago
    OP is in this thread and has confirmed that they cannot handle that case.
  - saxonww 4y ago
    Yeah, to be clear I would rather not invest at all than have Yotta do this for me. That is a bad pattern and clearly the company cares more about visibility than customers or they wouldn't even offer it.
- jeffmc 4y ago
  I too had a problem (maybe same email with multiple accounts). You have to get the form stamped with a "medallion stamp", not just a notary. So check your bank if they have someone that can do this

saxonww 4y ago

Yeah, this is crazy. Do not have 3rd parties do this on your behalf. That said, I just tried to sign up for a Treasury Direct account, and while it was 'successful,' I immediately got an email saying they could not verify some of my information and so my account was on hold pending receipt of a notarized form I have to mail. For my protection. It says the average approval time for this form is up to 13 weeks, so I can probably forget about I Bonds this year.

mritchie712 4y ago
Yotta likely doesn't solve the issue you bumped into though
- UncleMeat 4y ago
  OP is in this thread and has confirmed that they cannot handle that case.
- saxonww 4y ago
  Yeah, to be clear I would rather not invest at all than have Yotta do this for me. That is a bad pattern and clearly the company cares more about visibility than customers or they wouldn't even offer it.
jeffmc 4y ago
I too had a problem (maybe same email with multiple accounts). You have to get the form stamped with a "medallion stamp", not just a notary. So check your bank if they have someone that can do this