Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.

Aspiration Spend & Save Account review

Last updated:  

A spend and save combo account with no monthly fees and free access to ATMs around the world.’s rating: 4.8 / 5.0


With a focus on doing good, Aspiration separates itself from other financial firms by committing to donate 10% of its earnings to charity.


Monthly fee




Minimum deposit to open


APY1.00% on balances of $10,000+ or deposit $1,000+ each calendar month into any Aspiration cash management or investment account
Monthly fee$0
Minimum deposit to open$10
ATMsFree to use anywhere worldwide
ATM transaction fee$0
Out-of-network ATM fee$0
Foreign transaction fee1%
Overdraft fee$0
Nonsufficient funds fee$0

Expert review

Peter Carleton

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.

Expert review

Aspiration is best for those looking for an account that is also socially conscious. This versatile cash management account comes with a strong savings rate and almost no fees. 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 donate a portion of its earnings, and Aspiration sets an admirable example.

However, this company isn’t without its weaknesses — it doesn’t offer physical branches and has a limited product lineup.

Must read: Aspiration Summit account

As of August 2019, all Aspiration Summit accounts have been converted to Spend & Save accounts. If you had a Summit account, your debit card and routing number will remain the same, but you will have a new account number.

If you’re a new customer, you’ll be able to open a Spend & Save account instead of a Summit account.

What are the benefits of the Aspiration Spend & Save Account?

There’s no shortage of low-fee, high-interest online accounts. But few let you support charities that change the world. Investment firm Aspiration Financial does, along with offering a number of other benefits:

Cash management services for social good.

  • Charitable donations. Aspiration commits to donate 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.
  • Aspiration Impact Measurement. Check the impact of your spending with its two ratings: a People Score and a Planet Score. Spend with high-scoring businesses to increase your Sustainability Score and earn extra cash back. The higher your score, the more confidence you have knowing your money is going toward improving the world.
  • Referral program. When you refer a friend, Aspiration will donate $25 to the charity of your choice and another $25 to one of your friend’s.

Cash management services designed for you.

  • No monthly or overdraft fees. There is no mandatory monthly service or overdraft fee for this account, and other service charges are lower than its competitors. For example, wire transfers only cost you what Aspiration pays: $0.82.
  • Excellent interest rates. Aspiration offers an industry-leading interest rate. You’ll earn up to a 1.00% APY on your Save balance.
  • Free ATM usage. Use any ATM in the world for free. Aspiration won’t charge fees for using ATMs and will reimburse fees charged by ATM owners.
  • Unlimited cash back rewards. Earn cash back whenever you use your Aspiration debit card, with extra cash back for spending at “businesses with a conscience”.
  • Low minimum opening deposit. The minimum to open an Aspiration Spend & Save Account is $10. That’s a low threshold, especially as many accounts require at least $25.
  • Security. Deposits are FDIC insured up to $2 million because Aspiration sweeps account balances to multiple FDIC-insured financial institutions, which are all screened for environmental friendliness.
  • Easy access. Use the Aspiration mobile app or website to access your account online, including to check your account balance, view transactions, deposit checks, transfer money, pay bills and add money to your investment account. As of January 2019, the app had improved from a 3 to a 4.9 rating in the iOS App Store, while its Android experience has garnered a 4.1 rating in the Google Play store.

What to watch out for

Here are a few things to watch out for when opening an account with Aspiration:

  • No physical branches. Aspiration operates entirely online, meaning you’ll need to call or go online to contact customer service, and check deposits can only be made through your mobile app.
  • Optional monthly fee. While there is no mandatory monthly fee, Aspiration makes money from donations or tips, ranging from $0 to $10.
  • Limited product selection. As an investment firm, Aspiration doesn’t offer savings accounts, money market accounts, CDs and other common accounts, so you might want to keep looking if you want all your accounts at one institution. This also means you can’t link your account for overdraft protection.

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.

Compare the Aspiration Spend & Save Account to top checking accounts

Name Product Minimum deposit to open ATMs Out-of-network ATM fee
HSBC Premier Checking
Free to use at all ATMs in the US
Get up to $700 (max. $120 per month) for eligible new customers who open an HSBC Premier checking account. Conditions apply. Deposit products are offered in the US by HSBC Bank USA, N.A. Member FDIC.
TD Beyond Checking
1,900 ATMs across the country and Canada
A checking account that offers interest plus three ways to waive the monthly fee, two overdraft paybacks a year and no ATM fees with a $2,500 balance.
Axos Bank Rewards Checking
ATM fees reimbursed at any ATM nationwide
Earn up to 1.25% APY while enjoying a suite of digital tools for smarter money management.
HSBC Advance Checking
Surcharge-free HSBC ATMs nationally and internationally, plus up to four rebates a month for using non-HSBC ATMs in all US states except New York
Get up to $270 (max. $50 per month) for eligible new customers who open an HSBC Advance checking account. Conditions apply. Deposit products are offered in the US by HSBC Bank USA, N.A. Member FDIC.
TD Convenience Checking℠
1,900 ATMs across the country and Canada
Offering digital wallet compatibility, free Zelle transfers, TD rate discounts and no fees for students and young adults age 17 to 23. But the $15 monthly maintenance fee could chip at your funds.
Chase Total Checking
Access to 16,000 ATMs and nearly 4,900 branches nationwide
Get a $200 bonus when you open a new Chase Total Checking account and set up direct deposit within 60 days of opening your account. Chase's simplest checking account is easy to use and gives you access to 16,000 ATMs and nearly 4,900 branches. Available online nationwide except in Alaska, Hawaii and Puerto Rico.

Compare up to 4 providers

How do I apply?

You can apply for the Aspiration Spend & Save Account or a standalone Aspiration Save Account online within minutes:

1. Visit the Aspiration website and click Sign Up at the top right corner.
2. Enter your email address and click Get Started. Aspiration will send you a link to sign up for an account.
3. Open the email from Aspiration and click Join Now.
4. Create an account by entering your email address and creating a password.
5. Complete the application with information like your name, date of birth, Social Security number and employment information. Fund your account with an opening deposit and pay a fee if you’d like. Then review your deposit and submit your application.


  • US citizen or permanent resident
  • At least 18 or older
  • Have a Social Security number
  • Have a permanent US address

Required information

  • Personal information like your name and birthday
  • Contact details including phone number and address
  • Social Security number
  • Employment information

How do I make deposits or withdrawals?

Despite being an online-only institution, it’s easy to access your money:


  • Mobile check deposit
  • Direct deposit
  • Online transfers
  • Wire transfers


  • Visit any ATM worldwide
  • Bill pay
  • Wire transfer
  • Online transfers

How do I contact customer service?

To get in touch with Aspiration customer service you can:

  • Call: 800-683-8529
  • Tweet: @Aspiration
  • Email: Fill out the form on the Aspiration contact page

What other products does Aspiration offer?

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:

  • Redwood Fund. Invest in companies that support sustainable environmental policies.
  • Flagship Fund. Invest in multiple mutual funds at once to spread your risk.


Open an IRA with a $10 minimum deposit. Choose between the Redwood IRA and Flagship IRA.

Daily spending and transfer limits

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 bank’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.

Frequently asked questions

Checking account ratings

★★★★★ — 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.

Read the full methodology of how we rate checking accounts.

Ask an expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.


  1. Default Gravatar
    January 6, 2019

    What is the daily ATM withdrawal limit on this debit card?

    • Default Gravatar
      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,

Go to site