Overview / Commentary
800-683-8529
4640 Admiralty Way
Marina Del Rey, CA 90292

Aspiration (an online investment company) and Radius Bank (an FDIC-insured, online bank) have teamed up to offer The Aspiration Summit Account. This is a high yield checking account that has no monthly fees and offers free worldwide ATM access. In fact, the interest rate on this checking account rivals the top savings accounts on the market. Upon the account's release, it was quickly labeled by many reputable news publications as the best checking account in the country. It’s hard to argue with this when considering its appealing combination of low fees and high interest.

It’s worth noting that while this summary is dealing mostly with the deposit accounts available at Aspiration through Radius Bank, Aspiration also offers a couple investment accounts that are aimed at middle-class consumers and seek to provide investment opportunities and advantages that traditionally are only available to wealthier consumers. Assets in these investment accounts are held by UMB Bank.

Aspiration’s consumer products are impressive, but equally impressive is the company’s commitment to giving back to the community. Through their “Dimes Worth of Difference” program, they donate a tenth of their revenue to various charities that seek to advance economic opportunities for the less fortunate.

Aspiration is headquartered in Marina Del Rey, CA. Any US citizen or lawful resident over 18 can open an account.

Related Posts

Aspiration Interest Rate Calculation Change - 11/15/2017

As interest rates have changed, Radius Bank-supported Aspiration has become less and less competitive. Their 1.00% is now way behind rate leaders, and this email was quite surprising and is honestly a step in the wrong direction. Seems like they are only good for 100% ATM fee reimbursements now. "We also want to take a moment to let you know about a change coming to the way interest is calculated on your Summit account. Historically, we’ve offered .25% APY on balances up to $2,499.99 and 1.00% APY on the entire balance on balances over $2,500. Beginning this month, we’ll be offering .25% APY on balances up to $2,499.99, and 1.00% on the portion of balances greater than $2,500. A minor change, we know, but since trust and transparency is at the core of who we are, we wanted to be up front with you about this instead of hiding it in a disclaimer. Even with this change, the Summit account still offers at least 25 times and up to 100 times more interest than Big Banks! We’re also going

Great Bank

I've been doing business with Aspiration for nearly a year now. Ever since I left my last bank that did me wrong. In any event, this bank is great. They pay a decent interest rate and I actually pay nothing for the account whatsoever. They even reimburse each month for ATM fees charged. So, I can use my card at any ATM for free effectively. They also have some investment accounts that I may look into in the future. The customer service is also top notch. Every time I have needed anything, they were very quick about responding.

Aspiration

Aspiration is a terrific online bank with a unique fee structure. They have a great 1% interest rate on their savings account plus you can choose what fee to pay them (they default it to $3). Their website is very easy to navigate to make deposits and withdrawals. Plus they refund all atm fees on their debit card. Aspiration does run their accounts through Radius Bank so during tax season you will receive your documents from Radius not Aspiration. They also offer IRA investment options and a Redwood Fund that invests in environmentally conscious companies, though I have not put any money in those and can not report on their performance. Overall my experience with them has been extremely positive, I have made more in interest with them in a month than I did over four years with my previous bank.

Aspiration - Great Idea But Poor Execution.

Posted by: trackotter | Mar 9, 2018

I have a fair bit of experience with online banking. Trying to open an account at Aspiration because I think what they're trying to do is very good. Unfortunately they're just not ready for prime time. Poor communications + dysfunctional website. Long delay in opening the account and their website glitch still isn't resolved. Never had this problem with other online banks. Too bad, as I'd like to a fan of Aspiration but so far dealing with them has been one bad experience after another.d

Aspiration - BEWARE AS THEY ARE CON ARTISTS

Posted by: Andi121 | Aug 28, 2018

Definitely not a trustworthy bank and the employees all have a different story. Supposedly mailed debit cards but never received. Just try getting a replacement. Then they don't send you any web access but all request you have to go through the website. But wait gets better, ask to close and still no access and they take 1/2 of what is in the account for a supposed charitable contribution. NICE Ripoff! Having attorney file federal fraud charges against this bank.

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Health

Health Grade Components

Overall
FDIC Certificate #32551
Year Established1987
Employees161
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.31%
Return on Equity - YTD14.26%
Annual Interest Income$23.1MM
Assets and Liabilities
AssetsQ2 2018vs Q2 2017$1.24B$1.02B
LoansQ2 2018vs Q2 2017$882.5MM$850.2MM
DepositsQ2 2018vs Q2 2017$1.01B$855.4MM
Equity CapitalQ2 2018vs Q2 2017$111.8MM$92.6MM
Loan Loss AllowanceQ2 2018vs Q2 2017$7.0MM$4.8MM
Unbacked Noncurrent LoansQ2 2018vs Q2 2017$10.2MM$17.8MM
Real Estate OwnedQ2 2018vs Q2 2017$0$223.00K
Rates
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Always verify rates and promotions with the bank or credit union. We are not Aspiration; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Aspiration Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%*$2.5k*-The Summit Account
OTHER TIERS: 0.25% Up to $2.5k
Locations

Aspiration is an Internet only bank and does not have branch locations. Its headquarters is located at 4640 Admiralty Way - Marina Del Rey, CA 90292

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact feedback@depositaccounts.com to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.