
Sign up & start saving!
Get our weekly newsletter for the latest in money news, credit card offers + more ways to save
finder.com’s rating: 4.2 / 5.0
★★★★★
With a focus on doing good, the Aspiration Spend & Save cash management account gives you cash back on debit card purchases and up to a 3.00% APY on the first $10,000 in your Save account — if you spend at least $1,000 a month and pay for an Aspiration Plus membership. And if you don’t meet the requirements, your APY can drop as low as 0% to 0.1% APY.
$0 per month
Fee
1.00%
APY
$10
Minimum deposit to open
Aspiration has two Spend and Save plan options:
Plan | Monthly fee | APY | Cashback rewards | ATMs | Features |
---|---|---|---|---|---|
Aspiration | $0 | Up to 1% | 3 to 5% cash back on Conscience Coalition purchases | 55,000 free in-network ATMs |
|
Aspiration Plus | $7.99 or $5.99 a month if you pay annually | Up to 3% | 10% cash back on Conscience Coalition purchases |
| Everything in the basic plan, plus:
|
Plant Your Change is an opt-in feature that rounds your Aspiration debit card purchases to the nearest dollar. For every dollar you round up, Aspiration will plant a tree.
You can apply for the Aspiration Spend & Save Account online within minutes:
Sign up for the Spend & Save Account when you meet these requirements:
Be prepared to give the following information when you sign up:
We gathered a quick comparison of similar accounts to help you decide if Aspiration Spend & Save Account is right for you. For more options, select “Compare accounts” to compare even more accounts for your banking needs.
CIT Bank Savings Builder High Yield Savings Account |
Western Alliance Bank High Yield Savings Account through SaveBetter |
Cloud Bank 24/7 |
![]() |
![]() |
![]() |
★★★★★ |
★★★★★ Finder rating 4.9 / 5 |
★★★★★ Finder rating 4.3 / 5 |
|
|
|
Fee $0 |
Fee $0 |
Fee $0 |
APY 1.00% 0.40% |
APY 4.75% |
APY 4.48% |
Minimum deposit to open $100 |
Minimum deposit to open $1 |
Minimum deposit to open $1 |
Minimum balance to earn interest $0 |
Minimum balance to earn interest $0 |
Minimum balance to earn interest $0 |
Compare even more savings accounts
The Aspiration Spend and Save account lets you support charities that change the world and has FDIC-insured deposits up to $2 million, as well as these benefits:
You’ll earn 3% APY on the first $10,000 in your account as long as you meet both of the following requirements:
If you don’t meet the spend requirement, the APY will drop to 0.25% or 0.10% for balances over $10,000. And if you don’t upgrade to Aspiration Plus, you can still earn 3.0% APY on balances up to $10,000 by spending at least $1,000 each month. Otherwise, you won’t earn any interest.
There is a $1,000 daily limit for cash withdrawals from an ATM and a $4,000 daily limit for PIN purchases or any charges requiring your signature.
You’ll also be limited to a $5,000 daily outgoing transfer limit and a $1,000 daily incoming transfer limit. These limits only apply to transfers made on the Aspiration’s online platform.
For the first 30 days after you open your account, you’ll have lower limits on ATM withdrawals, debit card purchases and transfers. Once you’ve been with Aspiration for more than 90 days, your incoming transfer limit may change depending on your account type.
Here are a few things to watch out for when opening an account with Aspiration:
If you’re looking for an account with more branch locations, you’ll want to keep looking. As always compare your options when choosing a checking account.
Yes. Aspiration accounts are insured by the FDIC for up to $2 million dollars. This level of insurance is significantly higher than most other cash management accounts because Aspiration has relationships with 10 partner banks, each of which can help insure your deposits. These banks include Coastal Community Bank, ProgressBank, EagleBank, Amalgamated Bank, C3Bank, NA Manufacturers Bank, Bridgewater Bank, and The Freedom Bank of Virginia.
Aspiration is also regulated by the Financial Industry Regulatory Authority (FINRA), which protects investors by evaluating and regulating products from broker-dealers.
Aspiration is not accredited by the Better Business Bureau (BBB), which gives it a D+ rating based on more than 160 complaints in the past three years. And based on nearly 30 customer reviews on the BBB’s website, Aspiration has an average rating of 1.63 out of 5 stars.
On Trustpilot, Aspiration earns an average of 3.2 out of 5 stars based on 138 reviews. Many of the reviews and complaints on both sites relate to issues accessing accounts and withdrawing deposited funds. Several also mention negative experiences with customer support specialists.
Despite being online-only, it’s easy to access money in the Aspiration Spend & Save Account:
To get in touch with Aspiration customer service you can:
Aspiration Financial is an investment broker-dealer and can help you grow your investments or save for retirement, all while donating to charity.
With a $10 minimum deposit, you can get started with Aspiration’s managed funds:
Open an IRA with a $10 minimum deposit. Choose between the Redwood IRA and Flagship IRA.
Aspiration commits to donating 10% of its earnings to charity. It maintains multiple funds to disperse its contributions, including the Poverty Fund, Water Fund, Education Fund and Environment Fund.
When you refer a friend, Aspiration donates $25 to the charity of your choice and another $25 to one of your friend’s.
Aspiration looks at where you’re spending your money. Your score is determined by the stores you’re shopping at and whether those businesses are socially or environmentally impacting the world in a positive way.
No. It doesn’t have any accounts that are specifically designed for students, but that doesn’t prevent students from opening an account if they are 18.
You can earn cash back on your purchases through these merchants:
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.
Aspiration is not currently available on Finder
Have you considered US Bank Smartly Checking?
Take control of your spending with integrated tools such as automated budgeting, upcoming due date alerts, low balance alerts and more, available in the US Bank Smartly Checking mobile app. Easily send and receive funds via Zelle. Waive overdraft fees by depositing money before the forgiveness deadline. Member FDIC.
Review by
Peter Carleton is a writer that covers banking and investing, breaking down what you need to know about where you put your money. When Peter's not thinking about cutting-edge banking apps and robo-advisors, he runs a creative agency and spends his spare time cooking or reading.
Aspiration is best for those looking for an account that is also socially conscious. This versatile cash management account comes with a large ATM network and almost no fees. And it earns a great APY on balances up to $10,000 if you spend at least $1,000 each month. But best of all, you’ll rest easy knowing you’re working with a socially conscious firm. It’s rare to see any company commit to donating 10% of its earnings, and Aspiration sets an admirable example.
However, Aspiration doesn’t offer physical branches, and you’ll only earn the advertised 3% APY on the first $10,000 in your Save account if you pay $5.99 to $7.99 per month for an Aspiration Plus membership and spend at least $1,000 a month.
If you don’t upgrade to Aspiration Plus, it may still be worth getting the account as you can still earn 3% on the first $10,000 in your account, when you meet the $1,000 monthly spending requirement. But if you want to take advantage of the one monthly free ATM reimbursement you’ll also need to upgrade to the Plus account.
Finder Personal Finance Producer Amy Bonnett offers her personal thoughts on Aspiration after trying the product for 5 years:
When I signed up for an Aspiration account back in 2017, they were a new start up offering an intriguing “Pay what is fair” model that was attractive to a young professional like me. The main draw though was Aspiration’s large number of free in-network ATMs and – at the time – reimbursements for ATM fees. The ATM access made Aspiration Spend & Save my debit card of choice during a year-long backpacking trip around Europe.
Aspiration grew with me as I shifted from spending my spare pennies on travel to saving for a picket-fenced home with 2.5 dogs. What started as a handy ATM card has now become my go-to savings account earning up to 5% APY. But Aspiration has stayed true to its roots. You can still earn up to 3% APY while “paying what’s fair” for their base plan. And they’ve seemingly become even more socially-conscious as they’ve grown.
2 Comments
January 6, 2019
What is the daily ATM withdrawal limit on this debit card?
January 6, 2019
Hi Keriray,
Thanks for the inquiry.
The daily limit cash withdrawal for Aspiration account is $500.
I hope this helps.
Kind regards,
Bella