Aspiration Spend, Save, Invest

The Spend & Save Account is an application offered by Aspiration that allows users to spend, save, and invest their money while also making a positive impact on the environment. By signing up for Aspiration, users can feel good knowing that a tree will be planted with every purchase they make. Additionally, their deposits will not be used to fund fossil fuel exploration or production. This is made possible through Aspiration's partnership with Coastal Community Bank, a member of the FDIC, which ensures that approved deposit accounts are insured up to $250,000 per depositor. For balances over $250,000, excess funds are swept to one or more FDIC-insured depository institutions, providing up to $1.25 million in FDIC insurance per depositor.

With the Aspiration Debit Card, users have access to unlimited withdrawals at over 55,000 Allpoint ATMs. They can also earn up to 3.00% APY with the Save account, subject to terms and conditions. This rate is variable and accurate as of April 2024, and is subject to change. To earn the maximum APY, users must have settled debit card transactions of $500 or more each month. Aspiration also offers an optional Plus membership, which can increase the APY to 3.00%.

Aspiration is not just a bank, but also an SEC registered investment adviser. This means that users can trust Aspiration to help them make smart investment decisions. As part of their commitment to social and environmental responsibility, Aspiration's Program Banks have formally agreed not to use customer deposits for lending to oil and gas exploration, production, or transportation, or coal mining.

In addition to these features, Aspiration also offers a Plant Your Change Service, where users can opt in to have their debit card transactions rounded up to the nearest dollar and the excess transferred to a designated account. This allows users to effortlessly save money while also making a positive impact on the environment. Aspiration also offers an early direct deposit service, which is subject to the payor's support and timing of payment instructions.

Aspiration's Cash Back program allows users to earn rewards for their spending, which are credited on the first day of each month. However, this program is subject to change at any time and may be reversed for abuse, fraud, or other illicit activity. For more information on Aspiration's policies and terms and conditions, users can visit aspiration.com/policies. Overall, the Spend & Save Account is a unique and socially responsible way for users to manage their money and make a positive impact on the world.