Is Aspiration a bank?

Asked by: Cathryn Cronin  |  Last update: February 9, 2022
Score: 4.3/5 (63 votes)

Though Aspiration is not a bank, and CMAs are not the same as traditional bank accounts, customer deposits are still insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000.

What bank is Aspiration associated with?

The Aspiration Debit Card is issued by Coastal Community Bank, based in Washington State, while Aspiration will assign a specific Priority List of Banks to your account.

What is aspirations debit card?

Aspiration's Spend has similar features to a traditional checking account. You'll get an Aspiration debit card to use on your purchases, and you can earn up to 10% cash back. You can use your Spend account to buy groceries, pay your bills, withdraw cash at ATMs, transfer money to other accounts — whatever you need.

Is Aspiration bank insured?

Through the Aspiration Insured Bank Deposit Program, cash balances in the Aspiration Spend and Save Accounts are deposited at one or more FDIC-insured depository institutions (each a "Bank") up to $246,500 per Bank. With ten Banks available, Deposits are FDIC-insured up to $2.46 million per depositor. Visit fdic.gov.

How do I get $200 from Aspiration bank?

Aspiration is offering a $200 bonus when you open one of their Aspiration Plus accounts and then spend at least $1,000 using your debit card.

Aspiration Bank Review - Can You Save The Planet With Your Bank Account?

35 related questions found

Is Aspiration a credit or debit card?

Aspiration launched their very first credit card on Thursday, the Aspiration Zero Credit Card. This new card earns cash back on every purchase, but ultimately serves a much greater purpose that that. ... Aspiration is a digital bank with a larger mission than just making money.

Is Aspiration a legit card?

As a cash management service for the non-wealthy and socially conscious, Aspiration is great. It doesn't cap the number of reimbursements you'll receive from ATMs and there's no minimum balance to maintain. Plus, you can use your dollars to align your finances with a worthy cause while still earning interest.

Is Aspiration a loan?

Online Loans

With an Aspiration Loan, you can get a little extra money before your next paycheck.

Does Aspiration really give you money?

While technically not checking or savings accounts, Aspiration offers cash-management accounts that function similarly to traditional bank accounts. ... Additionally, for a limited time, you can earn a $150 bonus when you open an Aspiration Spend & Save Account and meet certain requirements with your debit card.

What bank does cash app use?

By using Cash App, you agree to be bound by the Lincoln Savings Bank Terms and Conditions set forth here.

How many customers does Aspiration bank have?

Aspiration, which has more than 1.7 million users, launched its latest initiative, Plant Your Change, in mid-April, a feature that allows debit card customers to round up purchases to the nearest dollar.

Can I transfer money from Aspiration bank to another bank?

You may transfer between Aspiration Spend and Aspiration Save up to 50 times per day. These transfers can be scheduled any time and are only subject to the amount available within the account.

Can I withdraw money from Aspiration?

You may only access your Cash Balance through your Aspiration Account. You cannot access or withdraw the Cash Balance by directly contacting the Priority List of Banks. Balances in the Cash Sweep Program can be liquidated on your order and the proceeds returned to your brokerage account or to you.

Is Varo a real bank?

Does Varo have branches? No, Varo is an online bank. You don't need a physical branch in order to access your money. You can withdraw money from your Varo Bank Account at more than 55,000 Allpoint ATMs surcharge-free and you can deposit cash via more than 90,000 Green Dot retail locations.

Does Aspiration bank accept SBA loans?

Aspiration does not offer any business accounts or products at this time. ... Business accounts are regulated differently than other bank accounts, and we do not yet have the infrastructure in place to offer any business related products or services.

Does Aspiration bank accept PPP loans?

In order to qualify for the PPP loan amount received, Aspiration's 2019 payroll expenses are estimated to be at least $703,382 (not accounting for salary amounts > $100k).

How do I get an Aspiration bank account?

How Do I Open an Aspiration Account?
  1. Any US Citizen or permanent resident age 18 or over with a Social Security Number and checking or savings account can apply.
  2. The minimum to open an Aspiration Account is $10.
  3. Signing up online is easy, and our application takes less than five minutes to complete.

How do you get 150 bonus from Aspiration?

How to Get a $150 Bonus When You Open This Account
  1. Open your Aspiration Spend & Save Account and fund your account with at least $10.
  2. Use your Aspiration debit card to make at least $1,000 of cumulative transactions within the first 60 days of opening your account. ...
  3. You're good to go!

Does Aspiration bank give you $100?

Aspiration is offering a bonus of $100 when you open a new Spend & Save account and complete the following requirements: Open and fund an account with $10 or more. Use your Aspiration debit card to make at least $1,000 worth of cumulative transactions within 60 days of account opening.

How does Aspiration bank work?

Customers receive a debit card with this account, which earns cash back on purchases from a variety of retailers. You will also earn interest on money that is not spent, which means you can earn money with both the Spend & Save sides of the CMA.

Can you overdraft Aspiration bank?

The first set of checks you order from Aspiration is free. A shipping fee applies to every order of checks after the first. No overdraft fees.

How much cash back does Aspiration give?

Currently, Aspiration offers 0.5 percent cash back on every purchase and 1 percent cash back at businesses with a strong social conscience.

Does Aspiration bank have direct deposit?

Yes, direct deposit is our favorite feature (hello payday!) You can download a direct deposit form, complete with a voided check, through the app or website. Navigate to the “Manage” menu, click Direct Deposit, enter your details, and click Create Deposit Form to see a preview of the form.