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.

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Aspiration Summit Account

I have been banking with Aspiration for over a year now and I have loved their customer service and account offerings. I have the Aspiration Summit account that has a high interest rate. There are no fees associated with the account and you have the option to pay the bank what you think they deserve. The bank also has investment opportunities like, "The Redwood Fund," which allow you to invest as little as $100 in a sustainable investment fund. All ATM fees are reimbursed for using any ATM in the US. The only negative that I can report is that I had to wait a long time to get accepted as a new account holder. There is a waiting list to join the bank. I would highly recommend this bank for anyone looking for a high interest no fee account, but be prepared to wait a little while.

Okay But You Can Do Better

Posted by: bankingar | Jan 9, 2019

tl;dr the title

I have an Aspiration account that unless something changes I'll be closing this year.

Their ATM reimbursement is their best feature but you can get it with more and better features and rates elsewhere. Their web software is also just alright and I have no interest in their mutual funds.

They're an interesting new fintech company but not the right fit for me.

When 1% was a decent rate for idle money they lost a lot of good will when they added in rate tiers. Thankfully banks are plentiful so there's no need to remain with one you don't agree with.

Avoid This Bank

Posted by: Pzamora | Jan 9, 2019

I have been a memeber of this bank for a year now and there have been nothing but problems, it takes at least 45 min to 1 1/2 hours to talk to a live person and I’ve have email requests answered a week later when my paycheck wasn’t showing in my account. Terrible customer service and even worse banking.

Do Not Give This "Bank" Your Business

This institution is a complete failure on so many levels. They don't just struggle to offer service, they will take your money and hold it until they please and there is nothing you can do about it. They have ZERO customer support at this time. There is no phone support, email support or chat options. You are on your own to figure out how to function with out your paycheck. None of what I am typing here is a exaggeration, please do your homework, look on their Facebook page and read other sites with reviews BEFORE you step into this nightmare. They have cheated so many people. There are far safer ways to make charitable contributions, this is a SCAM that wears the face of a socially responsible organization. If I could have given this joke zero stars I would have.

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Health
B+

Health Grade Components

Overall
FDIC Certificate #32551
Year Established1987
Employees156
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.01%
Return on Equity - YTD11.23%
Annual Interest Income$35.8MM
Assets and Liabilities
AssetsQ3 2018vs Q3 2017$1.29B$1.10B
LoansQ3 2018vs Q3 2017$934.8MM$813.7MM
DepositsQ3 2018vs Q3 2017$1.12B$918.9MM
Equity CapitalQ3 2018vs Q3 2017$111.8MM$106.1MM
Loan Loss AllowanceQ3 2018vs Q3 2017$6.9MM$6.9MM
Unbacked Noncurrent LoansQ3 2018vs Q3 2017$11.3MM$14.3MM
Real Estate OwnedQ3 2018vs Q3 2017$0$0
Rates
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Aspiration Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%--Aspiration Account
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 [email protected] 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.