Aspiration

Aspiration Reviews

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About Aspiration

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Aspiration is a financial tech company that offers an environmentally friendly solution to your banking. The company ensures that its money doesn’t fund oil and coal industries. Instead, funding goes toward initiatives like planting trees and neutralizing carbon footprints. Aspiration Spend and Save accounts have two tier options: Pay What Is Fair and Aspiration Plus. It also offers the Zero credit card.

Pros & Cons

Pros
  • Pay What Is Fair program
  • Tree-planting program
  • High-yield APY
Cons
  • No way to deposit cash
  • High cash back only with Aspiration Plus

What is Aspiration?

Aspiration is a financial services company with a goal of improving the planet. The company is committed to “clean money” and pledges that purchases and savings won’t be used to fund oil or coal companies. On the contrary, money transferred from traditional banks to Aspiration has a planet-saving climate impact. This is because every time you use your debit or credit card, Aspiration plants a tree.

How does Aspiration work?

Aspiration makes signing up simple. You can do so through the company’s website or mobile app. There is no credit check required, although the company will verify your identity. You must have an account with a bank in the U.S. in order to transfer money to your Aspiration account. There is a minimum opening deposit of $10.

Aspiration products

Aspiration has a few banking products you can choose from, including:

Spend and Save
As the name suggests, this is Aspiration’s cash management account. When you set up direct deposit, you can get access to funds up to two days early. You can use more than 55,000 free ATMs in the Allpoint network. Aspiration shows you the environmental impact of your spending and offers up to 10% cash back when you shop at socially responsible businesses.

Spend and Save allows you to earn higher interest on your savings than with traditional banks. Aspiration also promises that your deposits will never help fund oil or coal projects. It claims that every $1,000 you transfer to Aspiration has the impact of 6,000 fewer miles driven. There are two account options: Aspiration and Aspiration Plus. With Aspiration Plus, you also get out-of-network ATM reimbursement, Purchase Assurance (coverage for items damaged or stolen within 90 days) and automatic offsets of carbon dioxide for gas you purchase.

Credit
The Aspiration Zero credit card is a Mastercard issued by Beneficial State Bank. Zero has an annual fee of $60 and a credit score requirement of 680 minimum. Every time you use your Zero card, Aspiration plants one tree. You can also choose to round up your purchase to plant a tree.

Because of this initiative, using the Zero card once a day can help you become carbon-neutral. Every month you reach carbon zero, Aspiration rewards you with 1% cash back on all your purchases.

Investing
The Aspiration Redwood Fund is a mutual fund focused on sustainable investing. The company looks at several environmental, social and governance factors to find businesses that show sustainable thinking. You have the option of setting up automatic recurring investments. There is a minimum investment of $10, and there are no fees for withdrawing funds.

Aspiration fees

Aspiration promises to save you money in fees. The basic Aspiration Spend and Save account allows you to pay what you think is fair, ranging from $0 to $20 per month. Aspiration donates 10% of that amount to charity. Aspiration Plus costs $7.99 a month, or $5.99 a month if paid annually. For investments, the option is 0% to 2% annually, charged on a quarterly basis.

Aspiration FAQ

What bank does Aspiration use?

Aspiration uses a priority list of banks to hold your cash balance. Banks on Aspiration's list include:

  • Coastal Community Bank
  • Bremer Bank
  • Ion Bank
  • Progress Bank
  • Bank of New Hampshire
  • EagleBank
  • Manufacturers Bank
  • C3Bank
  • The Freedom Bank of Virginia
  • Bridgewater Bank
Is Aspiration FDIC-insured?

Aspiration accounts are FDIC-insured through the banks it works with. Deposits are insured up to $246,500 per bank.

Does Aspiration offer joint accounts?

Aspiration does offer joint accounts. Once you open your Spend and Save account and are approved, you can add your joint user to convert your individual account to a joint account.

When was Aspiration bank founded?

Aspiration was founded in 2013.

Is Aspiration legit?

Aspiration is a legitimate financial company. It has admirable sustainability goals and several appealing features. While it’s not a great option if you’re looking to deposit cash, making transfers and mobile check deposits is simple. The company helps you save on fees while providing several cash-back options and carbon-neutralizing initiatives.

Aspiration Reviews

Stars Rating

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  • 11%
  • 89%

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    Page 1 Reviews 0 - 10
    Customer ServicePunctuality & Speed

    Reviewed June 19, 2024

    On May 9th, my debit card was stolen and I reported its theft immediately. It was cancelled and I was told a replacement card would be sent to me immediately. I was en route to the airport for a three-week vacation with family when my card was stolen and expressed concern that I would not have access to my account funds. I was told I could use my virtual account in the interim, which I took advantage of for online purchases but it did not provide me with access to cash. I returned to San Diego exactly three weeks later late on the evening of May 30th and was forced to sleep in the airport because I did not have access to my account funds to get a hotel room. When I checked the mail the following day, no card was in my mail.

    I contacted the bank and was advised no card had been sent. I was then advised that a new card would be sent that day by standard mail which would take 7-10 days unless I wanted to pay approximately $20 for priority mail or $50 for overnight express. Since I had received a reimbursement check for $750 in the mail, which I intended to cash and use until my replacement debit card arrived, I did not choose to pay extra for delivery, especially since this issue was entirely due to their incompetence. Cashing that check proved problematic because of the conditions attached to it, namely that it had to be deposited into a regular checking account, which I did into my one and only checking account with Aspiration Bank. Family members loaned me some money to tide me through the 7-10 days while I waited for my replacement debit card.

    On the 7th day (June 11th), I contacted their office again and advised that I desperately needed that card advising that it had not arrived by that day. I then spoke with a customer service representative and advised him that I didn't care what it cost but that I needed my card to access my cash. I told him I would pay $50 for overnight express -- even though THEIR incompetence had created this desperate situation -- and he advised me that they don't have overnight express delivery, but that they could send the card by priority mail with delivery within 3-5 business days. Since he had already canceled the card (allegedly!) sent on May 31st (which I was later told was not sent until June 3rd following the weekend), I had no choice but to authorize a charge of $23.45 on my account for this "priority" delivery. That authorization, and the associated charge for that delivery, was made on June 11th.

    A 3-5 business day period ended on Tuesday, June 18th and I still don't have my card. I contacted their office a third time and was told they would refund the charge of $23.45. I then asked them for the tracking number under which it had been sent. They responded they didn't have a tracking number. I then asked for the name of the company they had used to send the card and I have not received a response to day.

    I am in the process of filing a complaint with the Comptroller of the Currency, the federal agency responsible for monitoring banking activity. I wish these sites would offer the option of going below one star because Aspiration Bank does not even deserve one star! They are fraudulent scammers! I assume you've guessed what my next sentence will be. I still do NOT have my replacement debit card. Please provide me with the tracking number needed to trace the status of this delivery, the one YOU billed me for on Tuesday, June 11th.

    Reviewed May 12, 2024

    Aspiration Bank was the WORST banking service I've ever had the misfortune of using. During the eight months I had an account with them, I had multiple fraudulent charges go through to the point where it was happening multiple times a month. This bank cannot keep your information safe. On top of that, Aspiration did not want to credit my account bank for some of the biggest fraudulent charges, insisting they were legit purchases. (They were not and had taken place in a different state than I resided in.) I had to threaten them with legal action before they credited me back my stolen money. I immediately closed my account after.

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      Customer Service

      Reviewed Jan. 24, 2024

      Noticed on my bank statements for Bank of America in Nov of 2023 weekly withdrawals from Aspiration located in Marina del Ray, CA, call center in Philippines, from November 2021 to November 2023. I contacted Aspiration, after going through verification of account, to which I do not have, customer service said they could not discuss account it belonged to someone other than myself. Not family, not me, someone had been withdrawing 35.00 a week, 106 withdrawals to aspiration. I was advised to file an identity theft report, police report and to prove the withdrawals all of which was done by me in a timely manner.

      I am not able to speak to anyone at Aspiration because everything goes through customer service in the Philippines. No managers, no supervisors. I reported to Bank of America and was credited 53 of 106 transactions. B of A is a reputable bank that investigated these charges but could only credit one year. Aspiration will not refund me for a fraud case. What does it take to get satisfaction? I just want my money returned to me and the thief shut down. I advise against having anything to do with Aspiration. Stay away, very far away.

      Customer ServiceReliability

      Reviewed Aug. 8, 2023

      I reported fraudulent charges all occurring from the same company. The next day the account was closed without informing me of any closure. It's now been one month. The charges are now credited to my account. I have not received a check. I asked to do an ACH transfer. After a few days Aspirations UNLOCKED my account, let me log in to initiate the ACH transfer.. only to relock it immediately afterwards causing the ACH to never go through correctly. Now still playing the call and wait game. Sick of it. DO NOT USE. They have no problems stealing your money.

      Price

      Reviewed July 3, 2023

      This is truly heartbreaking. My account was riddle with fraudulent charges which Aspiration did nothing to protect against. They did give me a credit but almost immediately blocked my account for security concerns pending the investigation. The investigation was found in my favor and aspiration still has my account locked and has not sent me my money or allowed me transfer it out. I just recently took my dog to the vet and he has a tear in his upper gi tract that will cost me 3,600 dollars and I need that money but Aspiration is so heartless they will not close my account and send the check or unlock my account and continue to refuse to give me and updates or information on my account. My dog is my best friend I can not believe a bank can do this to someone I am heartbroken and am so scared I will not be able to come up with the money now because aspiration, even though my case was found in my favor still won’t let me access my funds.

      Customer Service

      Reviewed June 27, 2023

      I've been on hold trying to cancel an Aspiration account for over 35 minutes. They make you call to close an account. After a half hour, I finally got a message that my time is valuable and I can request a call back. I think they need to change their business model so not everyone has to call in to close an account.

      Customer ServiceStaff

      Reviewed March 31, 2023

      I am deeply committed to the environment and battling climate change. Decided to get the Aspiration Zero credit card instead of giving money to Chase, Citibank, Wells Fargo or B of A that are financing fossil fuel production and destroying the planet. The Aspiration ideal of fighting climate change is critical, and the people are very nice and do their best HOWEVER they work with Beneficial Bank (who by itself is a good company) and Aspiration has no control over anything and the communication between Aspiration and Beneficial is terrible. I have a problem and call Aspiration - they can't tell me anything, say they can't do anything about it and say call the bank. Back and forth forever. Terrible. Frustrating. So time consuming and I am just trying to do the right thing! I finally gave up and canceled the Aspiration card and just got a Beneficial Bank card. Too bad.

      PriceStaff

      Reviewed Feb. 27, 2023

      Hope you don't need to request a chargeback because they do NOT issue a temporary credit and it will take a MINIMUM of 10 business days - I'm still waiting on a clear-cut case filed over 2 weeks ago. If a gas company authorizes a higher charge than your purchase, they LIE and say the money will go back to you once the charge resolves - the charge has finalized for a $10 purchase and they are still holding the outrageous $74 auth. BEWARE - they care about the environment but NOT their customers.

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      Customer ServicePriceStaff

      Reviewed Feb. 23, 2023

      Aspiration is a financial institution. One of the first to glamorize online banking. Aspiration also offers a system that only charges the customer for services what they choose to pay. And, offers a system which doubtably plants a certain amount of trees for the remaining change of customer transactions. I've suffered a few circumstances where notifying them of an issue which warranted a refund went to a non-competent representative who couldn't understand the communication. They're known to ask answered questions 4 or 5 times and still not provide proper antidote. Today the issue is causing me to have to waste more of my most valuable asset. TIME.

      NOTE THE FOLLOWING (BBB with no communication until... Dec 6th, 2022). I called CUB Corporate office on Saturday morning. 11/12/2022 9:38 AM I asked the person that answered if the money orders were capable of mobile deposit. I was transferred to the Edina store where someone told me that they didn't know. I was transferred to another person where they didn't speak comprehensive English. Then, I was transferred to a manager who said to me yes. Then she said as long as it goes through my bank.

      Today, 11/13/2022 at 6:11 PM after I went to the same cub to make the purchase this afternoon, I looked on the back of their Money Order. I'm not sure what game you're playing, but you just caused me to waste my time. I called your phone 6:11 PM and to speak to a manager and Mike got on the line and started pretending he didn't know what I was saying to him. Told me, I would have to call tomorrow. I'm not sure what kind of outfit you people run or what kind of incompetence you believe I have to put up with. I expect a refund and to be compensated for my time. And, for every individual that I mentioned mobile deposit to be released from employment....Case number is **.

      I sent the money order a few weeks ago to Aspiration for deposit. 4551 Glencoe Avenue 90292. About 2/21/2023 I sent a letter to Aspiration regarding why the deposit hadn't been made. 02/23/2023 I got a reply from Alexandra of Aspiration stating they don't accept mailed "mobile check deposit." I'm certain that I stated is was a money order. When I contacted Moneygram they stated that the money order wasn't cashed. But, Money gram is trying to charge me an additional fee. I contacted Moneygram again for the information to be mailed but I was told they don't share that information. Then, I called Cub Corporate. In the Facebook Post there are also to printScreens of my communication with Moneygram.

      Customer ServicePrice

      Reviewed May 9, 2022

      Crooked Banking Institution! Stay Away! They will steal the bonus you are entitled to signing up and will charge you a yearly fee in advance! They kept transferring you between several phone lines to confuse you but in the end they denied it!

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      Aspiration Company Information

      Company Name:
      Aspiration
      Website:
      www.aspiration.com