The Aspiration Account, formerly known as the Aspiration Summit Account that can offer you some extreme value. In this Aspiration Bank review, I will tell you all about their features and what they have to offer.
Aspiration combines investment and banking services with social responsibility. It offers two main services:
Banking services: Aspiration offers a Spend & Save Account to easily save money or manage daily spending. The Spend account offers cash back and the Save account offers a high interest rate of 2% APY. The minimum to open an account is just $10.
The 2.00% APY is one of the highest rates in the country.
Investment services: Aspiration offers 2 professionally managed mutual funds. The minimum to start is just $10.
- Flagship Fund. This fund aims to provide long term growth while reducing the impact of the volatility of the stock market. This fund is made up of funds with different strategies that had the best performance even when the market is down.
- Redwood Fund. This is Aspiration’s completely fossil fuel-free fund. This fund invests in companies that care about sustainability, diversity, and good environmental practices.
Aspiration charges no fees for their mutual funds, except for operating fees paid to 3rd parties.
Who can apply?
To open an Aspiration Spend and Save Account, you must be:
- High savings 2% APY
- Cash back on purchases
- No ATM fees worldwide
- $600 in cell phone protection
- Identify fraud protection
- Online banking services
In conclusion, if you’re looking for an online account with great rates and other perks, the Aspiration Spend & Save account could be a great choice for you.
Shining New Beauty
Aspiration certainly shines when it is compared to other online banking accounts. They offer a hybrid checking-savings account with cash back on purchases and a 2.00% APY. There are no monthly fees and no overdraft fees. They also reimburse all ATM fees worldwide.