What is Aspiration Spend & Save?


It has two parts: Aspiration Spend is designed to replace your traditional checking account, and Aspiration Save replaces your traditional savings account. The major features of these accounts are:

  • Unlimited cash back rewards on debit card purchases -- and extra rewards for spending at businesses with a conscience
  • Deposits are FDIC-insured* up to $1.25 million per depositor, and deposits will not fund oil pipelines and drilling
  • Fee-free withdrawals at any Allpoint® ATM in the U.S.
  • Choose your account maintenance fee - even if that’s zero (you “Pay What is Fair”)

We also offer investment products, enabling you to make us your one-stop financial home.

* The Aspiration Spend Account and the Aspiration Save Account are part of a cash management account offering of Aspiration Financial, LLC (“Aspiration”), an SEC-registered broker dealer. An Aspiration Save Account may be opened by itself without opening an Aspiration Spend Account. Through the Aspiration Insured Bank Deposit Program, each business day Aspiration deposits the cash balances in the Aspiration Spend and Save Accounts into deposit accounts at one or more federally insured depository institutions (each a “Bank”) up to $250,000 per Bank. Your deposits at each Bank are eligible for insurance by the Federal Deposit Insurance Corporation (FDIC) up to $250,000, subject to FDIC rules on aggregation of deposits held in the same insurable capacity. There are currently five Banks available to accept your deposits, making customers eligible for up to $1.25 million, including accrued interest, on deposit balances. The amount of available insurance coverage could change if the number of Banks changes, you designate a Bank as ineligible or you maintain deposits at a Bank outside the Aspiration Program. You are responsible for monitoring your deposits at each Bank to determine the available FDIC insurance coverage. You should carefully review the Aspiration Insured Bank Deposit Program Disclosure Statement available here. For more information about FDIC insurance coverage, please visit the FDIC website. A list of the current Aspiration Insured Bank Deposit Program Program Banks is available here. Deposits at the Banks are not eligible for SIPC coverage. Aspiration Spend is a non-interest bearing securities account with electronic transaction functionality. Aspiration Save is a securities account that, through the Insured Bank Deposit Program, permits you to earn interest on your available cash. Full disclosure about Aspiration Spend and Aspiration Save is available in the Spend & Save Supplement to the Customer Account Agreement, available here. Investments placed in the Redwood available through Aspiration are not eligible for FDIC Insurance, are not bank guaranteed and may lose value.