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Aspiration banking products: Savings, Checking, and CDs
Choose a bank that promises ethical investments and no monthly fees
Compare Aspiration bank products
What banking products does Aspiration offer?
As part of its commitment to ethical banking, Aspiration offers the following accounts and investment products:
- Spend & Save. This account offers cashback rewards, five free monthly ATM withdrawals, and 1.00% APY if you make an external deposit of at least $1,000 a month into any of your accounts.
- 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 Bank?
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 — 10% of what you pay is donated to charity.
- Five free ATM withdrawals. Aspiration will reimburse any ATM fees on your first five transactions.
- 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 digital bank, Aspiration comes with a few limitations:
- No bank branches. Aspiration is an online-only bank with 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 Bank customer service
Contact Aspiration Bank’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 Bank’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.
Common questions about banking at Aspiration Bank
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Aspiration Spend & Save Account review
An interest-bearing account that charges no ATM fees.
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