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Ando Savings review

Has no fees and uses your money to fight climate change — but its maximum APY of 5% only applies to balances up to $5,000.’s rating: 3.8 / 5.0


Ando Savings is an ethical savings account that uses your money to fight climate change and reduce emissions. It has absolutely no fees and earns 5% APY. But you need an Ando Spending account before you can open this savings product.






Minimum deposit to open


Annual percentage yield (APY)5.00%
Minimum deposit to open$0
Minimum balance to earn interest$0.01
Interest compoundingDaily
Monthly transaction limit6

Review by

Cassidy Horton is a writer for Finder, specializing in banking and kids’ debit cards. She’s been featured on Legal Zoom, MSN, and Consolidated Credit and has a Bachelor of Science in Public Relations and a Master of Business Administration from Georgia Southern University. When not writing, you can find her exploring the Pacific Northwest and watching endless reruns of The Office.

Expert review

Ando Savings is an optional savings account available to Ando Spending users. It’s best for anyone who wants a bank account focused on fighting climate change, avoiding fossil fuels and reducing your carbon footprint.

There’s an in-app Impact Center that breaks down how Ando is using your money to reduce emissions. It allows you to connect with friends who use Ando to track how you’re all playing your part to better the environment.

It also has absolutely no fees and earns a 5% APY. While this interest rate is higher than the national average, it’s comparable to other ethical savings accounts. For example, Aspiration Spend & Save Account also earns up to 5% APY, but it doesn’t require referrals and the interest rate applies to balances up to $10,000 — that’s double Ando’s cap. Or if you want a solid APY from an account that doesn’t make you jump through any hoops, consider BankPurely SavingPurely account, which earns 0.25% APY.

How do I open an Ando Savings account?

You must have an Ando Spending Account to open an Ando Savings account. Once you’ve opened the Spending account, follow these steps to activate your savings account:

  1. Log in to the Ando mobile app or website.
  2. Navigate to the Settings menu.
  3. Follow the prompts to set up your Ando Savings account.


You’re eligible for Ando Savings if you meet these requirements.

  • US citizen or resident
  • At least 18 years old
  • Valid Social Security number or Taxpayer Identification Number
  • Active Ando Spending Account

Required information

Have this information ready when you open your account:

  • Social Security number or Taxpayer Identification Number
  • Date of birth
  • US home address
  • Email address
  • Phone number

What are the benefits of an Ando Savings account?

Ando Savings helps you grow your money with these unique features.

  • No monthly fees. Ando Savings is completely free. There are no fees for monthly maintenance, transfers, excessive transactions or overdrafts.
  • Banking for good. Ando promises that 100% of its investments actively reduce emissions. You’ll also get access to an in-app Impact Center that gives insights into how Ando is using your money to save the planet.
  • Competitive interest rate. Everyone starts with 0.17% APY, which is almost three times the national average of 0.06% APY. And if you can work your way up to 5% APY on balances up to $5,000 by meeting specific goals, such as successful referrals.

What should I look out for?

Like most savings accounts, you can’t make more than six outgoing transactions a month. Once you hit this limit, Ando will decline any additional transfers until a new month begins. It also has these potential downsides.

  • Requires Ando checking account. You must open an Ando Spending Account before you can open this one, which could be a drawback if you don’t need a checking account.
  • Maximum interest rate has laborious requirements. Ando savings earns 5% APY, but you’ll need to complete seven qualifying activities. And the APY only applies to balances of up to $5,000.
  • One way to access money. The only way to fund your account is through your Ando Spending Account. You’ll also need to transfer money here before you can use it.
  • No joint accounts. Ando doesn’t currently support joint accounts or issue secondary debit cards.

If you don’t want to jump through hoops to get Ando’s highest interest rate, consider other ethical savings accounts that come with fewer stipulations.

How to earn Ando’s highest interest rate?

Ando uses a tiered interest rate that starts at 0.17% APY. Its Grow Your Savings program lets you boost your interest rate up to 5% APY on balances up to $5,000 per month.

APYHow to earn the advertised interest rate
  • Make at least five debit card transactions every month from your Ando Spending account
  • Receive at least $500 in direct deposits every month
2%Refer two friends who become active users within 60 days of signing up by:

  • Making at least five debit card transactions from their Ando Spending account
  • Receiving at least $100 in deposits
3%Refer another friend who becomes an active user.
4%Refer another friend who becomes an active user.
5%Refer another friend who becomes an active user.

Compare Ando with other savings accounts

Use this table to see how Ando’s features compare to other popular savings accounts.

Name Product Annual Percentage Yield (APY) Fee Minimum deposit to open
Bread Savings™ High-Yield Savings
Finder Rating: 4.3 / 5: ★★★★★
Bread Savings™ High-Yield Savings
Earn competitive interest rates with this high-yield savings account you can open in just minutes. Member FDIC.
Aspiration Spend & Save Account
Finder Rating: 4.2 / 5: ★★★★★
Aspiration Spend & Save Account
$0 per month or $7.99 per month for Aspiration Plus ($5.99 per month if you pay annually)
New customers get a $150 bonus when they open an account and spend $1,000 in the first 60 days.
Deposits are fossil fuel-free. A spend and save combo account with unlimited cash back rewards and deposits insured by the FDIC and a $150 bonus when you spend $1,000 in your first 60 days.
Quontic Bank High Yield Savings
Finder Rating: 4.6 / 5: ★★★★★
Quontic Bank High Yield Savings
Interest is compounded daily. No monthly service fees. Competitive rates
Barclays Online Savings
Finder Rating: 4.6 / 5: ★★★★★
Barclays Online Savings
Barclays Online Savings account offers key features that can help you save, including a high-interest rate, no monthly fees, and no minimum deposit.
Quontic Bank Money Market
Finder Rating: 4.6 / 5: ★★★★★
Quontic Bank Money Market
Competitive rates, no monthly fees, user-friendly online banking platform

Compare up to 4 providers

How do I deposit or withdraw my money?

Because Ando Savings is connected to your Ando Spending Account, there’s only one way to access your money. To fund and withdraw money from your account, you’ll transfer it to and from your Ando Spending Account.

How do I contact Ando customer service?

Ando customer service is available daily from 9 a.m. to 9 p.m. ET.

  • Call 844-960-3939
  • Email

Savings account ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top savings accounts and rate them one to five stars based on factors that are most important to you. These factors include: interest rates, monthly fees, minimum deposits, customer service and account features.

Read the full methodology of how we rate savings accounts.

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