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2023 Aspiration Review

Everyone wants to support organizations that do good. Organizations need to show their commitment to making a positive difference in the world. It can be difficult to find financial organizations that support the environment and manage your money because of the issue of climate change. Green banks are growing in popularity as people look for ways to invest their money and make positive change in the world.

Aspiration wants to change the impact large financial organizations have on our planet. They have earned the status of B-Corp certified because of their pledge to be environmental and socially conscious. Their commitment to corporate social responsibility is demonstrated by their certification.

If you want a company that supports important causes while also boasting top financial perks, Aspiration might be for you. Aspiration makes it easy to support causes you care about while also enjoying an excellent financial experience. Aspiration is an excellent option for people who want their money to work for them and the greater good. Aspiration is an ideal choice for those looking to make a positive impact with their money due to its commitment to sustainable and ethical investing.

What is Aspiration?

Aspiration is a financial institution that believes in doing good for the planet and humankind. The company is dedicated to using innovative technologies to provide responsible financial services, while empowering their customers to reach their financial dreams and goals.

Many people assume that when they put their money in a bank, it will sit in an account until they decide to use it. This is why it’s important for customers to research the banks they’re considering and make sure they have a good track record of safe and responsible lending practices. Oil drilling or coal mining are profitable but harmful to the environment. Your money may be going towards activities that are harmful to our planet, without your knowledge or consent.

Aspiration pledges never to use your money for causes that are harmful to the environment. Positive social and environmental change can be created with your funds. Instead, they invest in ventures that help our planet and even donate 10% of their profits from monthly fees to charities that help Americans get back on their feet. The company encourages its customers to volunteer and take part in local initiatives.

One of Aspiration’s features that speaks to its commitment to the environment is its sustainable banking features. Customers can opt into these programs that can help them do more to save the planet:

Planet Protection:

If you drive a lot and would like to offset your carbon footprint, Aspiration’s Planet Protection can help you do that. Planet Protection can help you save money on your energy bills. When you use your card at a gas station, Aspiration will purchase carbon offsets. This will help you reduce your carbon footprint and make a positive impact on the environment. This feature is only available to Aspiration Plus members. This exclusive feature is available to Aspiration Plus members.

Conscience Coalition:

You can earn cash back when you shop at Conscience Coalition companies with your Aspiration card. You can do good for the world by shopping with an Aspiration card. Blue Apron and TOMS are two of the companies.

Personal Sustainability Score:

Are the places you shop kind to people and the planet? Many retailers have published their ethical and sustainable policies so you can research the companies you shop with and make an informed decision. Aspiration will give you a The company has a score based on how it treats its people and the world. It can help you make better purchasing decisions in the future.

Plant Your Change:

Aspiration will round up every purchase you make on your card to the nearest dollar if you opt in to the feature. Every cent will be used to plant trees. Clean air will be provided for generations to come by the trees. Talk about the extra change. It is possible to save up for a big purchase or have a little extra money in the bank by making extra change.

Is Aspiration Legit?

You might be wondering, “All of this sounds great.” The first step is to identify your financial goals and create a plan to reach them. But is this bank too good to be true?” Aspiration is legit, but they aren’t actually a bank.

Aspiration is a company that works with banks to hold and protect your money. Aspiration Financial is an investment broker insured by the Bank Deposits Program. The insured bank deposits program gives coverage up to $250,000 per customer.

Aspiration has partnerships with ten banks that hold your money. Your funds are always safe at these banks. If you were to bank with a single institution, your money would be covered by up to $2 million in insurance.

Aspiration Products & Fees

Aspiration offers three main products to customers: the Spend & Save account, investment accounts, and a credit card.

When you create an Aspiration account, you will be charged a monthly fee. Each month, this fee will be deducted from your account balance. You have to decide what the monthly fee will be. You can choose a monthly payment that you think is fair for your wallet and reflect the service you receive from Aspiration. Aspiration will never surprise you with hidden charges, they are committed to being transparent about their fees. You can change your price at any time. Changes to the price may affect customer demand.

You will need to become an Aspiration Plus member to get the extra perks. A higher interest rate on savings, personalized financial coaching, and other exclusive benefits are available to Aspiration Plus members. 10% cash back on purchases made to Conscience Coalition companies, monthly out-of-network ATM reimbursement, and a debit card made from recycled ocean plastic are just some of the perks of becoming a member. You will have access to exclusive discounts from eco-friendly businesses around the world. You can join for $5.99 per month or $7.99 per month.

Spend & Save Account

Aspiration’s It sounds like a separate checking and saving account. Individuals can budget more efficiently and have better control over their finances with this type of account. One account has separate checking and savings balances. It’s easier to keep track of expenses and budget for different activities. The minimum opening deposit is $10 and there is no minimum balance requirement. The account has a competitive interest rate.

There are features similar to a regular checking account in the Spend and Save account. You can use your Spend balance to pay bills, run an errand, withdraw cash, or do virtually anything you need to do, even if you don’t have a bank account. Most stores and online accept your debit card, so you can take advantage of all the great deals. You can earn up to 10% cash back on your purchases. You can track your spending in real time with this cash back program.

The Save portion of your account is similar to a high-yield savings account. It offers an attractive rate of return while keeping your funds safe and secure. It will earn interest as time goes by, if you put money into it. It is a great way to save money and grow your wealth. Aspiration Plus members can earn as much as 5% on their Save balance, while regular members can earn 3% on their balance.

Aspiration customers need to meet certain conditions to get the interest on the Save account. Customers can reach their financial goals with the Save account’s competitive interest rate. Only the first $10,000 on a customer’s account is eligible for the APY, and you must spend at least $1,000 on your Aspiration card. The high APY will not be earned by any balance beyond that. To maximize your earnings, keep your balance within the limits set by the bank.

One of the most unique features of Aspiration’s You can track your impact score on your purchases with the Spend and Save account. You can use the Spend and Save account to make more informed decisions about your finances. Ratings are assigned to companies based on how they treat their people and the environment. You can see what your impact is by supporting them. It encourages you to think about how your decisions affect the environment. This can help you decide where to shop. It is possible to find companies that are committed to using sustainable practices and materials in order to reduce their environmental impact.

Investment Accounts

Aspiration is involved with environmental, social, and governance funds. Our customers can invest in companies that focus on making the world a better place with the help of ESG funds. Customers can invest in sustainable ventures with two investment products. The sustainable investment products offered by this company are designed to provide customers with a secure and rewarding return on their investments.

One of the earliest sustainable investment funds is the Aspiration Redwood Fund. Since its inception, it has invested in companies that are committed to environmental, social and corporate governance initiatives. Environmental, social, and governance impacts are evaluated through initiatives like ethnic diversity, gender diversity, and commitment to addressing climate change. The initiatives are designed to make sure that companies are making a conscious effort to promote social responsibility. These companies are then invested in with money based on their performance. The fund seeks to generate returns by investing in a diversified portfolio of high-quality companies that demonstrate strong potential in areas such as financial strength, management quality and competitive positioning.

The Redwood IRA is another account similar to a traditional, tax-deferred IRA. The Redwood Fund and Redwood IRA are managed by the same company. Ensuring that all clients receive the highest returns possible is the responsibility of it.

You have to make an initial deposit of $10 to start. You’ll be ready to invest once your initial deposit is complete. Average Joe investors can participate in the Redwood Fund. Everyone can invest, regardless of their investment experience. You are subject to a fee when investing through Aspiration. You can pay what you think is a fair price for the services provided by Aspiration.

Aspiration Zero Credit Card

Aspiration’s Zero Credit Card is perfect for people who want to maximize their impact through credit card purchases. Zero Credit Card is a great option for those who want to keep track of their spending, as it provides an easy way to monitor activity. Aspiration plants a tree every time you use your credit card. You can round up your purchase to the nearest dollar and plant the next one. The money will be used to replant trees in areas that have been deforested.

The Aspiration Zero Credit Card can be used to make purchases that are carbon neutral. You can help contribute to a healthier and more sustainable planet by using the card. You will earn 1% cash back on all purchases for a month if you make a purchase on the card each day. It is possible to use the cash back for future purchases or to pay off your balance.

The credit card is a Mastercard is issued by a bank. The Mastercard can be used to pay for everyday purchases. To qualify for the card, you have to pay an annual fee of $60 and have a minimum credit score of 700. The card will be canceled if the annual fee is not paid or the minimum credit score is not maintained. If you spend $3,000 in your first three months, Aspiration will give you a $300 bonus. You can get a small amount of money back on your spending with the Aspiration account.

Security & Customer Support

Aspiration has excellent customer service for prospective and current customers. The customer service representatives are always ready to answer questions. If you can’t find what you’re looking for in the FAQ section on their website, you can contact their team by phone or written request. The team will be happy to answer any questions you may have. They don’t have an option for a live chat on their website. If customers need assistance, they can call a toll-free number.

You can contact the Aspiration customer service team at the number and times below:

(800) 683-8529
Mon – Fri, 6 a.m. – 6 p.m. (PST)
Sat – Sun 8 a.m. – 4 p.m. (PST)

Getting Started

Getting started with Aspiration is free, but like many financial accounts, it is a somewhat lengthy process that requires several days to complete. You can have a new Aspiration bank card if you are approved for an account. The status of your application can be tracked online.

Signing up for an Aspiration account can be done online. You should be able to input all your information in a few minutes. Be sure to double-check your information after youTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkiaTrademarkia Here are the steps to follow to get started:

  1. Go to the “Get Started” button. You will be on your way to a new and exciting adventure once you click the “Get Started” button.
  2. Name, email address, Social Security number, and bank account information are essential details. Please make sure that the requested information is accurate, as it will be used for identity verification.
  3. Check your bank information. You should make sure your bank statements are accurate. (Note: this can take up to two days because it involves Aspiration sending a few cents to your account.)
  4. To open your account, transfer a minimum deposit. You’ll be able to use your new account once the deposit is made. The lowest amount is $10 The minimum amount is required to place an order.
  5. Check your identity with a passport, driver’s license, or another form of ID. Before any transaction can be processed, this is a mandatory step.
  6. If necessary, give additional documents, such as bank statements. As requested, be sure to provide accurate and up-to-date documents.
  7. Activate your account.

Pros and Cons

Banking with Aspiration means working with an institution that puts its money where its mouth is. Aspiration wants to use its platform to make a difference in the world and make an impact on the planet.

There are drawbacks to consider before using their services. Some people may not be able to afford the cost of using their services. Before opening an account with Aspiration, you should consider pros and cons.


  • Sustainability features
  • Fee-free ATM withdrawals through the Allpoint network
  • No overdraft fees.
  • Doesn’t invest in environmentally harmful ventures


  • No overdraft protection
  • Cash deposits are not available
  • No branches
  • Some customers report slow customer service response times

Alternatives to Aspiration

Amalgamated Bank

If you like the idea of a bank that works for environmental and social causes, Amalgamated Bank is a great option. It has an impressive track record of investments in renewable energy, sustainable agriculture, and access to financial services for underserved communities.

Amalgamated Bank has committed itself to supporting a number of worthy causes. Amalgamated Bank is always looking for ways to make a positive impact on its communities. On their website, they talk about where they stand on certain issues. They have an open forum for visitors to share their opinions and engage in meaningful dialogue.

As for financial products, Amalgamated has a There are give-back checking and savings accounts. The purpose of these accounts is to help members of the community save money and give back to their local charities. The features are similar to the Aspirations account. The Aspirations account has additional benefits that may make it a better choice for some customers. If you want Amalgamated to donate half of the interest they earn on your account, you can choose from six charities. Signing up for Amalgamated’s InterestPlus Savings Account will allow you to save money and give back to those in need.

City First Bank

If you live in the District of Columbia, you’re most likely passionate about community development. Through active engagement in local politics and volunteering in the community, this passion is demonstrated. The DC area is the focus of City First.

Aspiration promised to invest deposits into ventures that have a positive impact. The bank has a focus on responsible lending and is committed to ethical banking practices. 80% of the money goes to causes like charter schools, community service organizations, and urban housing development. These loans are used to support communities and create economic opportunities.

City First is only available in the DC area. If you live in the district, you should consider banking with City First. City First offers a range of services tailored to the needs of local customers, making it an ideal choice for anyone who wants to support their community.


Have you ever heard the term “financial feminism?” Women need to build financial stability and wealth for themselves to increase their opportunities. Women should not be limited by the financial obstacles that society can impose upon them, but instead take control of their personal finances to create a life of security and independence. If you are a woman who wants to achieve financial well-being, Ellevest is committed to you. Everyone should have access to the guidance and resources they need to take control of their finances.

Similar to Aspiration, Ellevest is a banking platform. It was designed to help close the gender investing gap. They offer a The account is linked to an ATM card. This type of account allows you to easily manage your finances and have access to your money when you need it. Ellevest is focused on women building wealth. The mission of the company is to close the gender investing gap and help more women reach their financial goals. Up to 53% of your investment portfolio can be invested in ESG funds, and they offer investment funds that focus on environmental and social causes.

Frequently Asked Questions

Is Aspiration a trustworthy bank?

Aspiration isn’t a bank, but they are a legitimate and trustworthy financial technology company. Their purpose is to give people access to financial services that are out of reach. They have a partnership with ten financial institutions that are insured by the Federal Deposit Insurance Corporation. The highest level of security and protection for customers’ funds is provided by these financial institutions.

Who is Aspiration owned by?

Aspiration Partners, Inc. Aspiration is comprised of Aspiration Financial, a registered broker-dealer and Aspiration Fund Adviser, a registered investment advisor. They have partnerships with several banks to provide banking services. Customers can benefit from access to a wide range of banking services.

If you deposit money into your Aspiration account, it may be held at one of the following banks:

  • Amalgamated Bank
  • Bridgewater Bank
  • C3Bank
  • Coastal Community Bank
  • EagleBank
  • The Freedom Bank of Virginia
  • Manufacturer Bank
  • ProgressBank

What ATM does Aspiration use?

Aspiration and Allpoint provide customers with ATM access at over 50,000 locations. It is now possible for Aspiration customers to have convenient access to their funds from their own home or on-the-go. You can check your balance at any Allpoint ATM. Allpoint ATMs can be used to access your bank account.

Is Aspiration bank FDIC insured?

Deposits made through Aspiration are insured by the Federal Deposit Insurance Corporation. Deposits up to $2 million are insured by Aspiration.

Is Aspiration Best for You?

Aspiration has great financial products even though they are a charitable company. Customers get the best of both worlds with their financial products, which are both socially responsible and cost effective.

There are features similar to standard checking and savings accounts in the Aspiration Spend and Save Account. It is great for people who want to manage their funds without having to open two separate accounts. It’s easier to keep track of expenses with a joint account. It has an interest rate that will allow your savings to grow over time. It’s a great option for people who want to save money.

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