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Aspiration products: Cash management, IRAs and funds
Choose a fintech that promises ethical investments and a cash management account.
Compare Aspiration’s accounts
What products does Aspiration offer?
As part of its commitment to ethical banking, Aspiration offers the following accounts and investment products:
- Aspiration Spend & Save Account. This account has two plan options— a free one and a paid plan called Aspiration Plus. Depending on which plan you choose you’ll get a free ATM reimbursement a month, cash back and up to 5.00% APY on your savings.
- Redwood Fund. An investment fund that actively looks for companies that meet environmental, social justice and governance standards to invest your money.
- Flagship Fund. Lower volatility, long-term investment fund that only requires a $10 deposit.
- Redwood IRA. The same as the Redwood mutual fund, but with the structure of a traditional IRA.
- Flagship IRA. A lower volatility, traditional IRA designed for long-term investing.
Why should I open an account at Aspiration?
Aspiration starts with a mission, but without skimping on the benefits:
- You set the monthly fee. Choose to pay anywhere from $0 to $100 a month or more, depending on what you think is fair when you choose the free plan — 10% of what you pay is donated to charity.
- Free ATM reimbursement. Aspiration will reimburse one ATM fee when you choose the Aspiration Plus plan.
- Invest in a clean environment. Your money isn’t used to invest in fossil fuel companies.
- Track your impact. The Aspiration Impact Measurement app allows you to track the environmental impact of your spending.
- Conscious Coalition. Earn greater cashback rewards when you use your debit card to shop at select stores that have partnered with Aspiration and its mission.
- Free phone protection. If you pay your mobile bill with your debit card, you get up to $600 in phone protection for free.
- Make charitable donations. Aspiration vets charities under seven categories and helps you make tax-deductible donations where every dollar you give goes directly to the charity.
What should I look out for?
As a fintech, Aspiration comes with a few limitations:
- No branches. Aspiration is online-onlywith customer support access limited to phone support and an online request form.
- No CDs or money market accounts. Your investment options are limited to mutual funds and IRAs.
- No cash deposits. Use your ATM for withdrawals, but Aspiration doesn’t accept cash deposits.
- Customer support issues. While some customers rave about Aspiration’s customer service, the Better Business Bureau and other customer review sites show a history of complaints varying from missing transfers to policy changes.
Aspiration‘s customer service
Contact Aspiration‘s support staff in the following ways:
- Call 800-683-8529 weekdays from 6 a.m. to 6 p.m. or weekends from 8 a.m. to 4 p.m. PST
- Fill out the Contact form from the website.
Bottom lineAspiration’s commitment to values-based investment makes it a great choice for anyone comfortable with digital banking and looking to manage their money in a socially and environmentally conscious way. But if the limited account and investment options aren’t for you, shop around to find a bank that better suits your needs.
Frequently asked questions
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