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Aspiration Spend & Save Account Review

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Aspiration is an online financial services company headquartered in Marina Del Rey, California. It was founded in 2014. The company offers a Spend & Save account and places a special emphasis on environmental sustainability.
 
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How is Aspiration rated?

Breakdown

4.0/5
Account Features
4.2/5
Fees and Restrictions
3.8/5
Support, Reputation, and Financials

Overall Rating: 4 / 5 (Very good)

Aspiration is a unique neobank with a focus on the environment. Its Spend & Save account is unorthodox in that it allows members to decide if they want to pay a monthly fee and it offers some rare perks like cash back on debit card purchases. The account also comes with a savings account and a large, nationwide fee-free Allpoint ATM network. It will undoubtedly appeal to the environmentally conscious, but many of its features will also draw in those who are looking for an affordable online financial account.

Aspiration Account Features

Account Features - 4 / 5

Aspiration's online account includes a debit card and strong online and mobile cash management tools. Aspiration does not offer any branch locations, but it partners with Allpoint so its members can still withdraw their cash without paying a fee. Aspiration's Spend & Save account also includes a savings account, so it's a good fit if you're interested in opening both types of accounts together and managing your money in one place.
Methods of Deposits
Mobile Check Deposit
Wire Transfer
Online Transfer
Direct Deposit
Integration with Other Online Accounts
Savings
Retirement Accounts
External Banks
Scheduled Withdrawals to Savings
No-Fee ATM
No-Fee at Network ATMs
ATM Locations
Aspiration partners with Allpoint to offer 55,000 fee-free ATMs nationwide.
Branch Offices
Aspiration does not have any branch locations.

Overdraft Protection

Aspiration does not allow you to overdraw your account. The transaction will be declined.
Integration with Mobile Payment Services
Venmo
PayPal
Pay Bills Online
Yes
EMV Chip Technology
Yes
Mobile App
Yes

Bonus Features

You can earn cash back on select debit card purchases and you have the option to plant a tree when you use your debit card.

Aspiration Fees and Restrictions

Fees and Restrictions - 4.2 / 5

Aspiration has a unique Pay What Is Fair approach which enables customers to decide how much, if anything, they want to pay in monthly maintenance fees. You're free to decide you don't want to pay anything and you won't experience any loss of features, but if you want access to some of its best features, like an interest savings account and an out-of-network ATM fee reimbursement each month, you must commit to paying a maintenance fee and upgrade to the Aspiration Plus account.
Maintenance Fee
None
Minimum Balance
None
Minimum Monthly Deposit
None
Minimum Number of Transactions
None

Aspiration Support, Reputation, and Financials

Support, Reputation, and Financials - 3.8 / 5

Aspiration has received mixed reviews from customers so far. It has a high rating with TrustPilot and a decent rating with the Better Business Bureau (BBB), though it has a large number of outstanding complaints against it with the BBB. As this is an online account, customer service isn't quite as important as strong account management tools, but if this concerns you, you can always try it out for a little while since there are no monthly fees or explore some other options.
BBB Rating
B
BBB Total Complaints
122
BBB Resolved Complaints
23
Trust Pilot Rating
4.3 out of 5
Date Collected
2020-07-21
Year Founded
2014
Live Help 24/7
No
Customer Support Hours
6am to 6pm PT, M-F and 8am to 4pm Sat. and Sun.

Contact Methods

  • Phone
  • Email
  • Social Media

Company Profile

Full Name
Aspiration Spend & Save Account
Company Website
https://www.aspiration.com/
Headquarters
4551 Glencoe Ave., Marina del Rey, CA, 90292

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Customer Comments & Reviews

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rondinellimarcia
4/9/2022
BEWARE: I obtained this account as they had ability to wire transfer as some online banks cannot. The minute I had a wire into the account, I was questioned about my identity, where the money came from and after proving who I am as a human and my right to the money, I tried to wire out to my investment platform account, I was told they had no connectivity with the other bank due to their wire system inadequacy. I then attempted to wire my money out to my other account that has capability to wire where I wanted the money and made a simple account number mistake and it was retuned. I corrected the issue and tried once more to send my wire and my account was frozen and is being closed... Read More

Daniel C
5/8/2021
Please use Aspiration bank if you are a bored masochist with too much money & time on your hands! It is a great opportunity for you to learn patience with the most incompetent institution I've ever encountered! Especially if you like your complaints and banking problems ignored, while your account is frozen and your funds inaccessible FOR OVER A MONTH! HAVE FUN!!!

Top Rated
Our Partner
Earn up to 5% APY * - Savings Account Included
  • Unlimited fee-free withdrawals at over 55,000 ATMs
  • Up to 10% cash back on debit card purchases with Aspiration Plus*
  • Deposits are fossil fuel-free 
  • $10 minimum to open an account
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