Sounds interesting, but seeing as you are a VC funded startup, I have some reservations about this. How do you plan to sustain the business?
From the privacy policy, I see this:
> In addition, we may, from time to time, offer promotions with various businesses, websites, mobile applications or third parties, which may include opportunities for you to earn deposits within your Yotta account.
It sounds like you are just sharing our information with advertisers.
Edit: I know you addressed this in the post, but I don't see earning money on interest in accounts as a very sustainable business from a VC point of view.
On the privacy policy front, this is somewhat boilerplate language that is just there to allow us to have partnerships with other companies to attract deposits, which we haven't explored yet. But we didn't mean for it to be anything related to using information with advertisers.
On the VC side - the Premium Bond program has generated $100 billion in deposits. The UK is a fifth the size of the U.S in terms of population. Premium Bonds isn't completely apples to apples (it's run by the gov and has been around for 60 years), but if we can capture Premium Bond magic in the US, earning small interest on a massive deposit base can be a big business. We also plan to offer other revenue-generating banking services as we grow, like other neobanks have done.
From the privacy policy, I see this:
> In addition, we may, from time to time, offer promotions with various businesses, websites, mobile applications or third parties, which may include opportunities for you to earn deposits within your Yotta account.
It sounds like you are just sharing our information with advertisers.
Edit: I know you addressed this in the post, but I don't see earning money on interest in accounts as a very sustainable business from a VC point of view.