Aspiration Financial, LLC

Aspiration is a financial technology company that offers banking and spending products aligned with environmental and social values. It is not a bank. Its banking services are provided through Coastal Community Bank, which is FDIC-insured. Aspiration's core pitch is that consumers can manage their money in a way that avoids funding fossil fuel projects and can offset the environmental impact of their spending.

Aspiration's main product is the Aspiration Spend and Save account, which includes a debit card and a savings component. The debit card offers cash back at certain socially conscious businesses. Aspiration's Plant Your Change feature rounds up purchases to the nearest dollar and plants a tree with the difference. The savings account may offer a competitive annual percentage yield on balances, particularly for customers enrolled in the paid Aspiration Plus tier.

The standard Aspiration account operates on a pay-what-is-fair pricing model, meaning customers choose what monthly fee they pay. The Aspiration Plus subscription has a fixed monthly fee and offers additional features including carbon offsets on everyday purchases and a higher cash back rate at qualifying retailers.

Aspiration's environmental claims are a significant part of its marketing. Consumers interested in the environmental angle should review how Aspiration delivers on these commitments, including how tree planting is verified and what the carbon offset process actually involves.

As with any fintech product, review all current fee structures, savings rate conditions, and account terms before opening an account. Features and pricing for Aspiration have changed over time, so check current information directly with Aspiration before signing up.