Aspiration.com Online Banking Review – An Eco-Friendly Option

Here, you can find the latest deals and discounts from Aspiration (aspiration.com). Aspiration is currently promoting its Spend and Save Account, which can be used anywhere in the country.

Aspiration was founded in 2013 and opened for business in February 2015.

They are an online-only financial institution, not a bank, whose main goal is to help people make good decisions with their money. Aspiration doesn’t offer traditional checking or savings accounts, but customers can use its Spend & Save cash management account (CMA) for their day-to-day financial needs and transactions.

Note: Even though Aspiration is not a bank and CMAs are not the same as regular bank accounts, the Federal Deposit Insurance Corporation (FDIC) still protects customer deposits up to $250,000. Your money is held at one of Aspiration’s partner banks, all of which are FDIC-insured.

We’ll review the products and offers from Aspiration below.

Aspiration Online Banking – Save The Planet

• What you’ll get: Up to 5.00% APY on savings, up to 10% cash back on debit card purchases
• Where it’s available: Available nationwide
• Features:
  • Unlimited fee-free withdrawals at over 55,000 ATMs
  • Deposits are fossil fuel-free
  • Plant a tree with every roundup
  • $10 minimum opening deposit
  • Aspiration basic plan:
    • Pay what is fair, even if it’s $0
    • 3.00% APY on your savings with $1000/month spend
    • Up to 3-5% cash back on debit card purchases
  • Aspiration Plus:
    • $7.99/mo or $5.99/mo if you pay annually
    • 5.00% APY on your savings with $1000/month spend
    • Up to 10% cash back on debit card purchases
    • One out-of-network ATM reimbursement monthly
    • Automatic offsets for the negative climate impact of driving your car with Planet Protection

Aspiration Zero Credit Card

• What you’ll get: $300 bonus No bonus offer currently available
• Where it’s available: Available nationwide
• Features:
  • Spend daily with Zero to neutralize your footprint and earn up to 1% cash back.
  • Use your rewards to plant more trees or receive a statement credit.
  • Fight climate change with every swipe
  • Go carbon-neutral
  • Every month you get to carbon zero, they’ll reward you with up to 1% cash back on all of your purchases made with your Zero credit card.

[No Longer Available] Aspiration Bonus: $50 Sign-Up Offer & $50 Referrals

You and your referral can earn a $50 cash bonus.

• Available nationwide
• You and your referrals earn a $50 cash bonus and help save the planet.
• You can earn up to $1,500 in cash referral credits per month
• Access your referral link under the “Invite Friends” menu option in your account dash board.
• For both to receive credit, the referred customer must use their Aspiration debit card to make at least $250 worth of cumulative transactions within 60 days of account opening.

You can use our referral link below to earn the initial $50 referral bonus (thank you ahead of time!). Then you can start making $50 per referral. The link works best when you click through on your smartphone.

Terms

• Credits provided for referral of new Aspiration Spend & Save customers only, referrals of a new Save account do not qualify for bonus.
• Investment accounts do not qualify for referral bonus. Invitation to join an already established account as a joint user does not qualify for referral bonus.
• In order for both the referring and referred customer to receive the $50 cash credit, both accounts must be funded with a minimum of $10, and must be open and in good standing, in the sole determination of Aspiration, through the date of credit.
• Additionally, for both to receive credit, the referred customer must use their Aspiration debit card to make at least $250 worth of cumulative transactions within 60 days of account opening; $250 transaction minimum refers to net purchases (purchases minus any credits or returns).
• Allow up to 16 weeks for the $50 cash referral credit to post. Cash referral credits for this promotion are limited to $1,500 per account, per month.
• Referral program is ongoing and valid.
• All applicable account terms, fees, and charges are subject to change. This offer may be modified, revoked or withdrawn at any time without notice.
• Customer is responsible for any federal, state, or local taxes due on the bonus and we will report as income to the tax authorities, if required by applicable law.
• Customer should consult a tax advisor.

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Aspiration Review

Aspiration doesn’t offer checking or savings accounts the way most banks do. Instead, Aspiration customers have a CMA (cash management account), which is an account that lets you manage cash, make payments, and earn interest.

Customers can use a single Aspiration CMA account for both a checking account and a savings account.

Aspiration Spend & Save Account

The basic CMA for customers is the Aspiration Spend & Save account.

This account lets you spend money and save money in the same place. It also has many of the same benefits as a checking account.

With this account, customers get a debit card that lets them earn cash back at a number of stores. You will also get interest on money that you don’t spend. This means that both the Spend and Save parts of the CMA can help you make money.

There are no minimum balance requirements, and you can set your monthly fee to as little as $0. The minimum to open is only $10.

Customers can spend money with one of the companies in the “Conscience Coalition” to get cash back (up to 3-5% back with the basic Aspiration plan and 10% back with the Aspiration Plus plan).

Conscience Coalition brands include the following:

Cariuma	Feed
For Days	Girlfriend Collective
Known Supply	Miir
Reformation	Toms
United by Blue	Warby Parker
Blue Apron	Imperfect Foods
Arcadia	Seatopia
Tony’s Chocolonely	This Saves Lives
Parachute	Goodwings
Cloud Paper	Dropps
Lola	Burst
Soapbox	Rumpl
Wolven	June Shine
Kindhumans	Boyish
Brightly	Boody
Superzero	ZeroWasteStore
Tentree	Allbirds
Backdrop	Got Bag

The “Save” side of an Aspiration CMA lets you earn interest on the money you don’t spend. But, unlike a regular savings account, you’re not limited to six withdrawals per month.

With Aspiration Plus you’ll earn 5.00% APY (3.00% APY without Aspiration Plus) for the month where you spend $1,000 with your Aspiration debit card. You’re eligible for this rate on the first $10,000.00 of your balance.

The Aspiration Plus Plan

The best features of Aspiration’s cash management accounts are only available to people who have Aspiration Plus.

Aspiration Plus has a fixed monthly fee of either $5.99 if billed annually or $7.99 if billed monthly. This is different from the basic Spend & Save account.

With Aspiration Plus, the cash back you get for shopping with Conscience Coalition members goes up from 5% to 10%. Account holders with Aspiration Plus also get one ATM fee reimbursement per month when they use an out-of-network ATM.

Bottom Line

Aspiration is a new way to bank, especially for people who are tired of traditional banks.

They have a Spend & Save account with a high interest rate and a large number of fee-free ATMs.

One drawback with Aspiration is that you can’t deposit cash, which is a problem that most online banks have. One workaround is to purchase a money order with your cash and then deposit the money order using mobile check deposit.

Overall, Aspiration is a great option for those who care about ethical banking, and you only need a small amount of money to get started. You can put your money toward a good cause while still earning interest on it.

Get started with Aspiration here…

See our bank offers page for more offers. Top offers can be found from Chase Bank, HSBC Bank, Bank of America and many more.

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