Aspiration Review
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Aspiration Reviews

Lauren Le-Hair


Lauren Le-Hair

Straightforward Online Banking Facilities
Straightforward Online Banking Facilities
About Aspiration

Founded in 2014 and based in Los Angeles, California, Aspiration is a financial company built upon a socially conscious, green ethos. The company offers cash management and investment products like your standard online bank. However, as one to stand out from the crowd, Aspiration emphasizes managing your money in an environmentally friendly way.
Deposits held by Aspiration will not be invested in fossil fuels or other products that could be detrimental to the environment. Aspiration also lets its actions do the talking by donating 10% of customer fees to environmental projects. The company also boasts an innovative feature where you can round your spending up to the nearest dollar. All money raised this way goes towards the planting of new trees.









Aspiration Online Banking Review

Aspiration offers cash management account (CMA) facilities to its users. Also known as “Spend and Save” accounts, Aspiration offers two types. The basic offering is simply called ‘Aspiration’ while the enhanced offering is called ‘Aspiration Plus’. The key features of both accounts are as follows:

Bank Account Types Cash Management Account
Minimum Deposit Aspiration – $10

Aspiration Plus – $10

Minimum Balance None
APY Saving (Annual Percentage Yield) Aspiration – Up to 3%

Aspiration Plus – Up to 5%

ATM Network Over 55,000 fee-free ATMs
Min. Credit Score None
Features, Benefits, and Rewards Aspiration – Up to 5% cashback on Conscience Coalition purchases

Aspiration Plus – Up to 10% cashback on Conscience Coalition purchase

Overdraft Fees N/A – overdraft not available
Maintenance Fee Aspiration – ‘Pay what is fair’. You choose your monthly fee

Aspiration Plus – $5.99 – $7.99 per month

Other Fees None

Aspiration Online Banking Highlights


3% - 5%


Over 55,000





Account Type

  • Savings

Aspiration Savings Highlights


min $10


3% to 5%



Pros & Cons

  • High APY rates of 3-5% are available depending on the account type
  • Socially conscious and environmentally friendly CMA provider
  • Over 55,000 ATMs to withdraw cash from
  • ‘Pay what is fair’ gives the option to have the basic Aspiration account for free
  • High APY rates require monthly spending levels of $1,000 to obtain
  • No physical branches and no way to deposit physical cash
  • CD accounts are not available

Account Types

Aspiration’s entry-level CMA is simply titled Aspiration. You can pay what you think is fair for the service, even if this is nothing. You must deposit at least $10 to open an Aspiration CMA. You can earn up to 3% APY on the first $10,000 held in this account if you spend $1,000 monthly on your Aspiration debit card. Balances over $10,000 attract an APY of 0.10%.

You can earn 3-5% cashback on your Aspiration Debit card by spending with one of the 28 companies that form the Conscience Coalition. Eligible companies are displayed on Aspiration’s website, and this further adds to Aspiration’s mission statement to operate ethically.


Aspiration Plus costs $7.99 a month, or $5.99 equivalent if you pay in one lump sum. These payments offer a significant benefit. Aspiration Plus debit card holders can earn an APY of 5% if they spend over $1,000 on their Aspiration card, which is an exceptional APY in today’s financial environment. Additionally, money spent with Conscience Coalition companies can earn 5-10% cashback.

Account Type Key Features Bonuses
  • Pay what is fair, even if $0
  • Up to 3% APY available
  • Only $10 is needed to open
  • 3-5% cashback available on certain purchases
  • Plant-a-tree options available
Aspiration Plus
  • Up to 5% APY available
  • Carbon offsets for purchases
  • $10 min deposit plus $5.99/month fees
  • 10% cashback on certain purchases


Account Type APY
Aspiration Up to 3% for first $10,000 with min spend of $1,000/month, 0.10% after
Aspiration Plus Up to 5% for first $10,000 with min spend of $1,000/month, 0.10% after

Opening an Account With Aspiration

We decided to open an account with Aspiration as we were impressed by its green credentials and high APY. To start the process, we had to enter our email address on Aspiration’s homepage.

Screen 1

enter your email address

After entering our email address, the site prompted us to enter a password, and then we could start the application process. The first screen asked us which CMA we wanted. We wanted to access the higher APY and cashback levels, so we chose the Aspiration Plus account.

We then had to enter our personal details, including name, address, SSN, address details, and phone number. After having our address verified by Aspiration, we had to confirm our address. Additionally, we had to verify ourselves via a code sent to our phone for security reasons.

Aspiration then gave us the option to round up all purchases to the nearest whole dollar. All funds raised by this go towards planting trees.

We linked an existing account with a different bank to the Aspiration Plus account we were setting up. After going through numerous security procedures, we merged the two accounts, confirming our existing account’s routing and account number. This linked our existing account to the Aspiration Plus account. We chose the amount of money we wanted to transfer to Aspiration and selected that we wanted to make a monthly recurring deposit.

Doing so finalized the process, and we were able to submit our application. The whole process took just under 15 minutes, including linking the accounts and going through the security protocols.

Finally, we were asked to verify our identity using our driving license and by uploading a selfie. Following this, we heard back later that day that our application for an Aspiration Plus account had been successful.

The process wasn’t the quickest we’ve encountered, but part of this is because of the security procedures, which are very important. While not fast, the sign-up process was straightforward.

State Availability

Available in all states

Privacy & Security

Aspiration takes its privacy and security responsibilities seriously. The company has an extensive privacy and security section on its website. These sections explain in detail how your personal data is stored and what safeguards are in place to ensure that information is kept securely. Aspiration has a form available on its website to complete if you do not want the company to sell your data to third parties. Notably, there are no adverse online claims of privacy and security being breached by Aspiration.

Customer Support

You can contact the Aspiration customer service team via email, phone, or social media. We emailed customer support and received a response within an hour, which we consider an excellent response time for an online query. The reply was helpful and to the point. Aspiration also has a detailed FAQ section on the website with most customer questions answered.

Phone Support
(800) 683-8529
Mon - Fri
6 AM - 6 PM
Sat - Sun
8 AM - 3 PM

In Conclusion

Aspiration may be a good choice for people who want simple banking facilities from a company run in an ethical and environmentally friendly manner. Aspiration has built a solid reputation since its establishment almost a decade ago and is worth considering if you are looking for a cash management account without the need for a checking or savings account.


Is Aspiration a bank?
No, Aspiration provides cash management accounts like a bank, but Aspiration is not a bank itself. Aspiration partners with eight banks. All these banks are FDIC-insured, so all money held with Aspiration is as safe as it would be in a bank.
Can I open an Aspiration account from anywhere in the US?
Of course, you can. An Aspiration account is available in all 50 states of the US.
Can I withdraw money from my Aspiration account at an ATM?
Yes, cash can be withdrawn from an Aspiration account without a fee at over 55,000 locations across the country.

Aspiration Disclaimer

The Aspiration Spend & Save Accounts are cash management accounts offered through Aspiration Financial, LLC, a registered broker-dealer, and Member FINRA/SIPC.

An affiliate, Aspiration Fund Adviser, LLC, is an SEC-registered investment adviser. An affiliate, Aspiration Card Services LLC offers credit services. An affiliate, Aspiration Insurance Agency LLC offers insurance products. An affiliate, Make Earth Green Again LLC, offers a standalone Plant Your Change service. An affiliate, Aspiration Sustainability Impact Services LLC offers business-to-business services.

Aspiration Financial LLC, Aspiration Fund Adviser LLC, Make Earth Green Again LLC, Aspiration Card Services LLC, Aspiration Insurance Agency LLC, and Aspiration Sustainability Impact Services LLC are wholly-owned subsidiaries of Aspiration Partners Inc. (collectively “Aspiration”). Aspiration is under separate ownership from any other named entity.

Aspiration pledges to donate to charities 10% of the fees customers choose to pay us. Indemnity Agreement. Aspiration Partners Inc and its subsidiaries, including Aspiration Card Services LLC (collectively, “Aspiration”), value offering socially conscious and sustainable financial products. As such, the company does not use any portion of its customer’s money (fees, deposits, etc.) to fund specific activities misaligned with its social mission. Aspiration is not a bank.


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Lauren Le-Hair

As an experienced content writer, Lauren’s passion for the finance sector is only exceeded by her love of writing. Lauren specializes in the financial industry, drawing on her knowledge and experience to deliver top-quality, specialized content with an expert tone of voice and a unique flair. She also holds a First Class (Hons) Batchelor’s degree from Staffordshire University.