Aspiration

Deposits held and insured by Coastal Community Bank

Overview / Commentary
800-683-8529
4640 Admiralty Way
Marina Del Rey, CA 90292
Deposits held and insured by Coastal Community Bank

Aspiration (an online investment company) and Coastal Community Bank (an FDIC-insured bank) have teamed up to offer The Aspiration Account, formerly known as 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 Coastal Community 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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Reviews (178)

Fantastic Bank

Posted by: Sapphire | Nov 7, 2019

I have been with Aspiration for a while now and I had money taken out of my account without my permission. Aspiration froze the account and I was concerned because I have direct deposits going into this account. They were amazing and offered a one-time withdrawal from the atm before they froze the card completely and then expedited my new card all within 5 days. Kudos Aspiration keep doing a great service to your customers.

Great Environmentally-Focused Bank!

Posted by: Savannah | Aug 22, 2019

I changed to Aspiration because I wanted to support a sustainable bank that does social and environmental good. Aspiration is fairly new compared to other banks offered, so there are some things that need improvement but I know with time Aspiration will be just as quick and flexible as the other banks. I really wish that Aspiration connects with Zelle soon, because instant real-time transfers to friends is very useful. Or even just quicker transfers between trusted bank accounts linked to our Aspiration account would be a useful upgrade. Overall, I love Aspiration and their stocks (Redwood Fund) have been profitable!

No Longer Attractive

Posted by: Maven | Aug 15, 2019

I used to love Aspiration, but their policies changed in August 2019. August 2019 Aspiration now offers NO interest on savings unless $1000 is deposited EVERY month then 2%. Only 1.5% if balance over $10,000. Still has unique charity program.

The Worst Experience Of My Life

Working with Aspiration has been the worst banking experience of my life. I reported a fraudulent charge on my account & was told it was procedure they cancel my debit card. I agreed & was advised I would receive my new card within 10 days. I received an email stating that since I had updated my address mmwithin the last month they would not send me a new card until I could verify my new address by sending them a copy of a utility bill that included my updated address. The problem is that at this point in time I I do not have this type of document. This happened right before Christmas. Fast forward to january 9th- everytime I try to use my husbands card it declines. I call the bank to be informed that they cancelled his card as well. They claimed they sent an email the night before but it was not received. At this point we have been locked out of our account completely since January 9. This bank has refused to help in anyway. We still have not received a replacement debit card. When I asked for assistance getting funds out of the account & the agent told me it was impossible. Actually, I could have moved the money via domestic wire transfer for $0.82. They refused to provide me an online debit card because I have been with them too long. I then set up a digital wallet which I was able to use twice before Aspiration locked my account. I set up 3 different mobile wallets & every transaction has declined. I have received an eviction notice. My children are starving. My bills are not paid. I have spoken to their customer service numerous times & they refuse to offer any solution. Changing to this bank was the worst decision I ever made

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Health
A+

Data as of Q3 2019

Data displayed below is for insuring bank: Coastal Community Bank
Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #34403
Year Established1997
Employees192
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.29%
Return on Equity - YTD12.37%
Annual Interest Income$35.6MM
Assets and Liabilities
AssetsQ3 2019vs Q3 2018$1.09B$916.9MM
LoansQ3 2019vs Q3 2018$863.2MM$735.2MM
DepositsQ3 2019vs Q3 2018$936.6MM$795.1MM
Equity CapitalQ3 2019vs Q3 2018$119.1MM$98.4MM
Loan Loss AllowanceQ3 2019vs Q3 2018$10.9MM$9.1MM
Unbacked Noncurrent LoansQ3 2019vs Q3 2018$258.00K$1.4MM
Real Estate OwnedQ3 2019vs Q3 2018$0$0
Rates
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Aspiration Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%--Spend and Save 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.