Tag: zero banking fees

We Found A Green Account That Pays You 200% More Than The Big Banks

Free ATMs Worldwide. Zero Fees. Unlimited Cash Back. 2.00% APY interest ? Aspiration?s New Spend & Save Account Really Gives

  • No fees, ever.
  • Free ATMS anywhere in the world.
  • Unlimited Cash Back on Every Debit Card Transaction.
  • Additional Cash Back Rewards for Socially Conscious Spending.
  • Earns up to 2.00% APY Interest ? up to 200 times more than ?Big Banks.?
  • Fossil Fuel free. Your deposits are never used to make loans to oil & gas. Ever.

Aspiration is really upping their game. While they?ve always been on a solid mission to help customers make money and make a difference at the same time, their new Spend & Save account makes it even easier and more profitable for everyone. Here?s how:

How does Aspiration help customers save money on banking services?

  • No fees, ever! No Bank Fees. No ATM fees.

Most Americans today pay hundreds of dollars in fees every year on their ?Big Bank? checking and savings accounts while earning practically nothing in interest payments. Between monthly fees, ATM fees, overdraft fees, check deposit fees, and debit card usage fees, most of us are used to getting gouged here, but we don?t have to be.

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How does Aspiration help customers make money?

Aspiration?s new Spend & Save account is now offering up to 2.00% APY interest on deposits. Yes, you read that right. That?s up to 200 times more than the interest traditional banks offer. Compare that to what the big banks are currently offering:

  • Wells Fargo 0.01%
  • Chase 0.01%
  • Bank of America 0.03%
The average APY interest rate for checking accounts in 2018 was 0.07% ? Bankrate
Unlimited Cash Back Rewards with Your Debit Card

Cash Back rewards are generally unheard of for debit card customers. Only wealthier credit card holders can take advantage of them these days. Aspiration?s Spend & Save account is not only making cash back rewards available to everyone, they?re also giving customers a chance to earn even more by spending sustainably.

  • .5% cash back on all purchases made with your debit card. Yes, that means everything you buy with your debit card generates cash back.

How Does Aspiration help customers make a difference (?and then pay them for it?)

Additional Cash Back Rewards for Spending Sustainably
  • An additional ?.5% cash back bonus reward for all spending at socially-conscious businesses. Aspiration offers a 1% reward when you shop businesses that have the best sustainability practices and most employee-friendly policies.
An App That Gives You Your Own Personal People and Planet Scores

How can you know if you are spending your money at a sustainable, employee-friendly business?

Aspiration?s Impact Measurement app (AIM), a new feature of the Aspiration Spend account, lets you see your own Sustainability Score ? the impact you?re making on People and the Planet based on where you?re shopping and spending every day. Now you can track the power of your money, and get paid for supporting good business.

How does Aspiration strive to help people beyond its customer base?

Aspiration?s ?Dimes Worth of Difference? donates one dime for every dollar its customers agree to pay to charitable activities that enhance economic opportunity.Aspiration partners with networks like Accion which provide micro-loans to empower low-to-moderate income business owners through access to capital and financial education. They want to help struggling Americans transform their lives.

How does Aspiration strive to help the planet heal and thrive?

Traditional banks generally have horrible track records funding destructive environmental and social enterprises. Unlike the big banks, Aspiration will never invest your deposits to make loans to oil and gas companies. They use their revenue for good.

Unlike big banks, Aspiration does not use its customers deposits to fund oil pipelines or campaign contributions.
By comparison:

Aspiration are divested from oil and gas, and they put your deposits in places you can feel good about.

If you think this sounds too good to be true, we think Aspiration deserves your attention. Here?s a quick review of the features of Aspiration?s Spend and Save account:

  • Pays you up to 2.00% APY interest ? Seriously, that?s like 200x more than the big banks offer.
  • Unlimited cash back rewards with every dollar spent
  • Extra cash back rewards for spending sustainably
  • Low minimum deposit ? You can open an account with just $10.
  • No minimum balance ? No minimum balance required, ever.
  • No service fees ? Aspiration?s ?Pay What is Fair? fee means you pick your fee, even if it?s zero. And you can change it anytime you want
  • No ATM fees ? Free access to your money at every ATM in the world.
  • FDIC insured on deposits ? Deposits in your Spend & Save are insured by the FDIC up to $250,000 per depositor
  • Certified B Corp ?Aspiration is B-Corp certified. B-Corps must have a beneficial impact on society, employees, the community, the environment and profit as legally to retain their status.
  • Aspiration Gives ? Commits to donating 10% of its earnings to charities.
  • 100% fossil fuel free deposits.
  • An app that gives you your own personal People and Planet score so that you can both track your footprint and monitor your finances!
  • Industry Standard Encryption ? Multi-Factor Authentication and 256-bit encryption.
  • Cell phone protection insurance
  • Identity fraud expense reimbursement

The traditional systems that separate capitalism and philanthropy is crumbling quickly, and Aspiration is leading the way with their new Spend and Save Account. These guys are competitive (and they?re green.) Check them out!


Switching to Aspiration could mean saving up to $545 per year, or over $45 per month, based on $329/year average fees reported in Bank Fee Finder Report, April 2017; $54/year cash back on $10,857 average debit card spend from the 2018 Debit Issuer Study; and $162/year in interest from the difference in earnings on a $8,100 median bank balance between 2.00% APY and 0.01% APY. APYs are based on a comparison of Aspiration?s Spend & Save cash management account 2.00% Annual Percentage Yield (APY) to the following savings account APYs reported by Bankrate for 12/28/18: Wells Fargo (0.01% APY), Chase Bank (0.01% APY) and Bank of America (0.03% APY). The US median combined savings & checking account bank balances of $8,100 was reported Nov 2018 by Smart Asset based on the Federal Reserve?s Survey of Consumer Finances.

The Aspiration Spend & Save account is a cash management account. Interest rate and Annual Percentage Yield (APY) comparisons are based on a comparison of Aspiration?s Spend & Save cash management account 2.00% Annual Percentage Yield (APY) to the following savings account APYs reported by Bankrate for 12/28/18: Wells Fargo (0.01% APY), Chase Bank (0.01% APY) and Bank of America (0.03% APY). Note that cash management accounts and savings accounts may each offer different features and protections. Neither Aspiration Partners, Inc. nor any of its subsidiaries is a Bank.

Aspiration Partners, Inc. and its affiliates are committed to ?All Extra Services Provided at Cost,? meaning that we?ll only charge you what it costs us to provide the extra service (such as a wire transfer), and not a penny more. Besides these at-cost service charges, the only account fee you pay is the fee you choose, even if it?s $0, which is why we call it Pay What Is Fair.

Banking on Climate Change: Fossil Fuel Finance Report Card 2018, by Rainforest Action Network, BankTrack, Sierra Club, Oil Change International, Indigenous Environmental Network and Honor the Earth.

The special insurance program descriptions herein are summaries only. Such summaries do not include all terms, conditions and exclusions of the policies described. Please refer to the Overview of Benefits, Identity Fraud Protection and Cellphone Protection for complete details of coverage and exclusions.

All ATM withdrawal fees will be waived for your Aspiration Spend & Save Account. In addition, your account will automatically be reimbursed for all ATM fees charged by other institutions while using an Aspiration Debit Card linked to your account at any ATM. The reimbursement will be credited to the account within 2 business days of the ATM fee debit. Please note, there is a foreign transaction fee of one percent that is not waived, which will be included in the amount charged to your account.

Deposits are insured by the FDIC up to $250,000 per depositor by being swept to FDIC Member institutions. For details, see their FAQ and visit https://www.fdic.gov.

The Annual Percentage Yield (?APY?) associated with the Aspiration Spend & Save Account is variable and accurate as of 2/23/19. Rates may be changed from time to time without notice. To earn 2.00% APY on Save account balances in any calendar month, a deposit of at least $1 in that calendar month into any Aspiration banking or investment account, or a single end of day Aspiration Save balance of $10,000 or more during the calendar month is required. Minimum deposit required to open a Save Account is $10.00.

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