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.
Aspiration is THE greatest online bank I have ever used. Their customer service is BEYOND amazing!! Always willing to answers all my questions and very promptly too might I add (I've contacted them in regards to questions about when the joint accounts will start, the paperwork that's needed to get it going, if I could get a second beneficiary on my account etc)! Their interest rate is also the BEST of all the banks I've seen thus far.. they have 1.00%!! That is unheard of! There is a minimum of of $2500 though for the interest to go through and any amount before that the interest will be 0.25% but even that is better than most banks! Their app is superb too! Its so easy to navigate and transfer your funds from one bank to another. I just wish they had a selection of cards you could choose from rather than their basic blue card.
The process to apply for this online bank though took 3 weeks..so it took a bit of waiting and paperwork to get things going but it all went smoothly after that. I've been telling all my friends and family to get this bank because of the amazing customer service and their interest rate! Soon, they are going to implement a joint account system which I am looking forward to because I REALLY need one for my spouse and I. We already have a good amount saved and would like this joint account to go through as it would be a big help for both of us. They also have an IRA investment account you can participate in and my spouse and I are looking forward to investing in that soon! All in all I would rate Aspiration a 10/10!! Definitely recommend this bank to everyone I know~
I have a checking account with Aspriation. They are an online only bank that seems to pass on typical brick and mortar fees to customers in various ways. Although they have a silly option that allows one to choose how much to pay the bank every month. Only a fool would give a bank any money, after all they make money from your money! So I obviously selected to pay zero dollars a month for that. They give a decent rate for interest, but the advertised rate is a bit of a trick. You need to have over 2000 in the checking account to get the over 1 percent advertised. Anything lower than that is like .25 which is still better than most banks but definitely not better than inflation. They refund out of ATM bank fees which is the best part of having an account with them. They are partner with a bank that isn't very good but apparently that is changing soon. I recommend it but will be on the lookout for even bettter alternatives. Some of their advertising is annoying. They claim to be social do gooders and the like.
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
I was excited to get this account with them. but I had NOTHING but problems with them. I would deposit a check on Thursday and it wouldn't be "available" to me until Monday. The worst is the stupid app said the money was in my account on Saturday but of course all my transactions were declined, so I went to the ATM and nope, my check was not deposited. Trying to get a hold of the "24/7" costumer support is a freaking joke, then of course they say we have online support well what they really mean is you can go read through questions and answers but you don't actually get to talk to anyone about your problem. Every time I have talked with costumer support (which always took me at least an hour!) They were rude and not helpful.
I will be closing out my account with them because I'm sick of trying to get a hold of the costumer support and consistently having problem with them.
|FDIC Certificate #||32551|
|Return on Assets - YTD||0.19%|
|Return on Equity - YTD||2.01%|
|Annual Interest Income||$41.1MM|
|Assets and Liabilities|
|Assets||Q4 2017vs Q4 2016||$1.14B$946.5MM|
|Loans||Q4 2017vs Q4 2016||$788.9MM$791.6MM|
|Deposits||Q4 2017vs Q4 2016||$954.4MM$754.6MM|
|Equity Capital||Q4 2017vs Q4 2016||$106.8MM$90.9MM|
|Loan Loss Allowance||Q4 2017vs Q4 2016||$6.6MM$2.8MM|
|Unbacked Noncurrent Loans||Q4 2017vs Q4 2016||$10.8MM$9.2MM|
|Real Estate Owned||Q4 2017vs Q4 2016||$0$306.00K|
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.
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|1.00%*||$2,500*||-||The Summit Account|
|OTHER TIERS: 0.25% → Up to $2,500|
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