How is Otto better than a budget?
#10 Otto is safe.
Your financial security is our highest priority.
Our app was developed right here in the USA.
We maintain the highest bank-level encryption standards.
All information obtained is in a read-only format.
Otto uses Finicity, an affiliate of Mastercard and one of the top API services in the nation, to safely link to your financial institutions. For more information about Finicity and their security policies, please visit
No one can use the app to move or access your money.
#5 Otto motivates you to spend wisely.
With a budget, if you are “under-budget” one month, it’s impossible to know where the actual left over money is. It’s in the ether somewhere. As a result, you might as well spend every dollar you have budgeted, because if you don’t, you will never see that money again.
On the other hand, Otto incentivizes you to spend wisely. With your money set aside in a separate account, any money you don't spend this month can be spent at a later date.
#1 Otto organizes your actual money.
A budget is just numbers on a spreadsheet or app. Your actual money is all mixed up at your bank or credit union.
Otto is the actual money at your bank or credit union organized in separate bank accounts.
#2 Otto is quick.
It can take hours each month to budget your money.
Once set up, Otto helps you organize your money in just a few minutes each month.
#3 Otto keeps you going month after month.
Countless people have started a budget, only to quit after a short time. Budgets require a lot of self motivation.
Otto was specifically designed to keep you going month after month, no motivation required. Otto collects your income in a separate account. This keeps the money you earn from getting mixed up with the money you plan to spend. When the money you’ve set aside for spending is gone, you know it’s time to organize your new income.
#4 With Otto you’ll never go “over-budget.”
The most common phrase in budgeting is “over-budget.” That’s because budgets are just numbers. There are no physical limits.
Otto gives physical structure to your money. With Otto, you can’t overspend or go “over-budget.” because when the money is gone, it is gone.
#6 Otto is simple.
Budgeting is complicated. With all its spreadsheets and categories budgets can feel very overwhelming.
Otto was designed to be simple. Otto uses short online forms to help you determine how to organize your money in just a few separate accounts.
#7 Otto focuses on the present.
When you budget, you spend a lot of time guessing about the future and then looking back at the past to see how reality matched up with your guesses.
With Otto you know TODAY how much money you have and what it is intended for.
#8 Otto keeps you from asking, “where did all my money go?”
When you collect and spend your money from the same account, it is a lot like pouring water into a leaking bucket. It is next to impossible to know where your money goes.
By collecting your income in a separate account, Otto gives you a chance to make deliberate decisions with your money before you spend it.
#9 Otto improves your financial situation.
You can budget for years, and never see a change in your financial situation.
Otto makes it easy to see your finances improving. With your money organized it is easy and motivating to watch your money build in your different accounts. In just a short time you’ll be able to see the difference Otto has made.
Can I use my current bank accounts as part of the system?
Yes. Often people have automatic bills already coming out of their current checking account and don't want to go through the hassle of switching these to a new account. As a result, many of our users use their current checking account as their Bills Account.
You may also use a current savings account as any one of your new savings accounts.
As a general rule, you can use any current accounts you have. Just make sure you keep the required minimum balances in each account so you don't incur a fee.
Can I really have this many accounts?
Yes! Even 10 years ago, having this many accounts would not have been practical. But today with online banking and Otto, you can have and manage as many bank accounts as you wish.
Do all of my accounts have to be at the same institution?
While it is a little easier to have all of your accounts at the same institution, it is not necessary. You will just need to have the ability to make transfers between your different institutions, which is usually not a problem. If you have questions about setting up these transfers, talk to a representative at your bank or credit union.