Aspiration Review
Comprehensive review and analysis of Aspiration's digital banking services
Quick Facts
- Founded
- 2013
- Head Office
- United States
- Active Customers
- 3+ million
- Total Funding
- $250 million
- Employees
- 200+
- App Store Rating
- 4.4/5
Pros & Cons
Pros
- Strong environmental focus
- Cash back on sustainable spending
- Plant trees with purchases
- High APY on savings
- Carbon offset features
- No fossil fuel investments
Cons
- Limited international features
- Pay what you think is fair model
- Some features require Plus membership
- No physical branches
Supported Countries
- United States
Fees
- Spend & Save Pay what is fair
- Aspiration Plus $7.99/month or $71.88/year
- ATM Withdrawals Free at Allpoint ATMs
- Foreign Transaction Standard fees apply
- Planet Protection Included with Plus
Overview
Aspiration, launched in 2013, has pioneered sustainable banking in the US. Combining traditional banking services with environmental consciousness, it offers a unique approach to financial services that appeals to environmentally conscious consumers.
Key Highlights
- Sustainable Banking: Focus on environmental impact
- Flexible Pricing: Pay what you think is fair
- Tree Planting: Automatic tree planting with purchases
- Carbon Tracking: Monitor your carbon footprint
- Ethical Investing: No fossil fuel investments
- Social Impact: Support sustainable businesses
Market Position
- Leading sustainable banking provider
- Focus on environmental impact
- Unique pricing model
- Strong ethical stance
Key Features
Banking Services
- Checking account
- High-yield savings
- Debit card
- Mobile banking
- ATM reimbursements
- Cash back rewards
Sustainability Features
- Plant trees with purchases
- Carbon offset program
- Sustainable shopping rewards
- Environmental impact score
- Fossil fuel free banking
- Personal sustainability score
Investment Options
- Sustainable investment funds
- Retirement accounts
- Impact investment
- Portfolio management
- ESG screening
- Automated investing
Rewards Program
- Up to 10% cash back
- Sustainable merchant bonus
- Local business rewards
- Extra rewards with Plus
- Planet protection
- Tree planting
Security Features
- Biometric authentication
- Instant card lock
- Fraud monitoring
- FDIC insurance
- Encryption
- Security alerts
Customer Support
- Email support
- Phone support
- Help center
- Social media support
- Community forum
- Educational resources
Verdict
Aspiration stands out for its commitment to environmental sustainability while providing comprehensive banking services. The combination of competitive banking features with environmental impact tools makes it unique in the digital banking landscape.
The “pay what you think is fair” model for basic services is innovative, though some may prefer traditional fixed pricing. While the Plus membership fee might seem high, the additional benefits including higher savings rates and carbon offset features provide value for environmentally conscious customers.