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Aspiration Spend & Save Account review

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A spend and save combo account with no monthly fees and free access to ATMs around the world.

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


APY2.00% on balances of $10,000+ or deposit $1+ 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

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 2.00% 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.

Compare the Aspiration Spend & Save Account to top checking accounts

Name Product APY ATMs Fee
Free to use anywhere worldwide
(can be waived)
Get a $750 welcome bonus when you join Sapphire Banking by September 28, 2019. Within 45 days of joining, transfer a total of $75,000 or more in qualifying new money or securities to a combination of eligible checking, savings and/or investment accounts (excludes any J.P. Morgan retirement accounts and CDs), and maintain the balance for at least 90 days.
Access to 16,000 ATMs and nearly 5,000 branches nationwide
(can be waived)
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 5,000 branches.
No ATM fees nationwide at more than 64,000 AllPoint, participating 7-Eleven and BBVA USA ATMs
A full-service account with convenient, surcharge-free access to two massive ATM networks.
38,000 fee-free ATMs nationwide
Linked checking and savings accounts from a mobile-first bank that’s light on fees.
1.25% on balances of $0+ with $1,000+ in direct deposits, 10 $3+ debit card transactions and 5 additional account transactions per month
ATM fees reimbursed at any ATM nationwide
Earn up to 1.25% APY while enjoying a suite of digital tools for smarter money management.
2.00% on balances of $10,000+ or deposit $1+ each calendar month into any Aspiration cash management or investment account
Free to use anywhere worldwide
A spend and save combo account with no monthly service fees, free access to every ATM in the world, unlimited cash back rewards and deposits insured by the FDIC. The Aspiration Spend & Save Account is a cash management account offering of Aspiration Financial, LLC, an SEC-registered broker-dealer. Aspiration is not a chartered bank.

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.

Bottom line

Aspiration offers a versatile cash management account 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.

But before opening an account, you should compare your options to find an account that suits your financial needs.

Frequently asked questions

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  1. Default Gravatar
    January 6, 2019

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

    • AvatarStaff
      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,

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