Do I need to maintain activity on my Summit account? What is Dormancy? [Aspiration (Radius) Summit Account only]


Do I need to maintain activity on my Summit account? What is Dormancy? If you have made no transactions in your Summit Account for 12 consecutive months, and you do not hold investments with us, your account will reach "dormant" status. This means that your account will be locked and no debit card transactions can be made while your account is in this status.

If your account is soon to become dormant, you should receive at least one email in advance, warning you of the status. We encourage you to take advantage of the ways in which to keep your account active: make a purchase with your Aspiration Summit debit card or log into your account. This will keep the account from going into dormancy.

If your account has already become dormant, you can initiate an incoming or outgoing transfer by logging in to your account.

Remember, with your Aspiration Summit Account you get:

  • 1.00% APY on the entire balance*
  • No monthly service fees**
  • ATM fee reimbursements and the use of any ATM in the world***

*The Annual Percentage Yield (APY) associated with the Aspiration Summit Account is variable and accurate as of the current date. Rates may be changed from time to time without notice.

**All ATM withdrawal fees will be waived for your Aspiration Summit Account. In addition, your account will automatically be reimbursed for all ATM fees charged by other institutions while using an Aspiration Debit Card linked to your account at any ATM displaying the Mastercard®, Interlink®, Cirrus®, or Maestro® logos. The reimbursement will be credited to the account the same day the ATM fee is debited from the account. Please note, there is a foreign transaction fee of one percent that is not waived, which will be included in the amount charged to your account. Aspiration Debit Card is issued by Coastal Community Bank, Member FDIC, pursuant to a license by Mastercard International Incorporated. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

***Aspiration Partners, Inc. and its affiliates  are committed to ""All Extra Services Provided at Cost,"" meaning that we'll only charge you what it costs us to provide the extra service (such as a wire transfer), and not a penny more. Besides these at-cost service charges, the only account fee you pay is the fee you choose, even if it’s $0, which is why we call it Pay What Is Fair."

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