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Aspiration products: Cash management, IRAs and funds

Choose a fintech that promises ethical investments and a cash management account.

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Our pick for an Aspiration product: Aspiration Spend & Save Account

Up to 1%


  • Unlimited cashback rewards
  • New customers earn $100 bonus after $1,000 in transactions in first 60 days
  • Contributes to environmental sustainability
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Aspiration gives you the opportunity to invest your money in a fintech that promises to give 10% of its earnings to charity and only invest your money in socially and environmentally responsible ways. But with limits on both account options and features, this fintech isn’t the best option for everyone.

Compare Aspiration’s accounts

Name Product APY Minimum deposit to open ATMs Out-of-network ATM fee
Aspiration Spend & Save Account
Finder Rating: 3.8 / 5: ★★★★★
Aspiration Spend & Save Account
Up to 1.00%
55,000 free in-network ATMs
Deposits are fossil fuel-free and insured by the FDIC. Enjoy a spend and save combo account with unlimited cash back rewards and a $100 bonus when you spend $1,000 in your first 60 days.

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What products does Aspiration offer?

As part of its commitment to ethical banking, Aspiration offers the following accounts and investment products:

Personal accounts

Cash Management
  • Spend & Save. 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 1.00% APY on your savings.
Mutual Funds
  • 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 line

Aspiration’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.

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