†The Aspiration Spend Account and the Aspiration Save Account are part of a cash management account offering of Aspiration Financial, LLC (“Aspiration”), an SEC-registered broker dealer. Aspiration is not a bank. An Aspiration Save Account may be opened by itself without opening an Aspiration Spend Account. Through the Aspiration Insured Bank Deposit Program, each business day Aspiration deposits the cash balances in the Aspiration Spend and Save Accounts into deposit accounts at one or more federally insured depository institutions (each a “Bank”) up to $246,500 per Bank. Your deposits at each Bank are eligible for insurance by the Federal Deposit Insurance Corporation (FDIC) up to $250,000, subject to FDIC rules on aggregation of deposits held in the same insurable capacity. There are currently ten Banks available to accept your deposits, making customers eligible for up to $2.46 million, including accrued interest, on deposit balances. The amount of available insurance coverage could change if the number of Banks changes, you designate a Bank as ineligible or you maintain deposits at a Bank outside the Aspiration Program. You are responsible for monitoring your deposits at each Bank to determine the available FDIC insurance coverage. You should carefully review the Aspiration Insured Bank Deposit Program Disclosure Statement available here. For more information about FDIC insurance coverage, please visit the FDIC website. A list of the current Aspiration Insured Bank Deposit Program Banks is available here. Deposits at the Banks are not eligible for SIPC coverage. Aspiration Spend is a non-interest bearing securities account with electronic transaction functionality. Aspiration Save is a securities account that, through the Insured Bank Deposit Program, permits you to earn interest on your available cash. Full disclosure about Aspiration Spend and Aspiration Save is available in the Spend & Save Supplement to the Customer Account Agreement, available here.
Investments placed in the Redwood Fund available through Aspiration are not eligible for FDIC Insurance, are not bank guaranteed and may lose value.
The Aspiration Spend & Save Account is a cash management account offered by Aspiration Financial, LLC, a broker-dealer registered with the Securities and Exchange Commission (SEC) and a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). Aspiration Financial, LLC provides brokerage services and securities products. Its affiliate company, Aspiration Fund Adviser, LLC, an SEC-registered investment adviser, provides investment advisory services. Aspiration Fund Adviser, LLC and Aspiration Financial, LLC are subsidiaries of Aspiration Partners, Inc. (Aspiration). Neither Aspiration Partners, Inc. nor any of its subsidiaries is a bank. Aspiration pledges to donate 10% of our profits to charities.
2 Plant Your Change Debit Card opt-in enrollment.
When you choose to add to your Aspiration Debit Card the Plant Your Change Service, we round up the amount of any Aspiration Debit Card transaction made using your Aspiration Debit Card feature in your Aspiration Spend Account to the next whole dollar amount, and transfer the amount in excess of the purchase price to an Aspiration Plant Your Change Service Account. The Plant Your Change Service Fee from Debit Card transactions will be deducted from your account once each business day and include all qualified transactions incurred since the last fee withdrawal.
Aspiration’s Plant Your Change Service then plants a tree through a tree-planting partner preselected by Aspiration for each completed Debit Card transaction. Aspiration charges a variable service fee (the Plant Your Change Service Fee) ranging from $0.01 per completed Debit Card transaction of up to a maximum of $0.99 per Debit Card completed transaction. The Plant Your Change Fee encompasses the cost of the Tree through a tree-planting partner preselected by Aspiration, Aspiration’s costs in administering the Plant Your Change Service (including marketing and promotion), and Aspiration may retain, dependent upon the Plant Your Change Fee for a particular transaction, the remainder. Transactions at an even dollar and cents amount ($.00) are stored in an automated manner operationally and may be manually reconciled to ensure a tree is purchased even for transactions where change is not swept.
If a particular transaction has placed your Aspiration Spend Account in overdraft status, we do not implement the Plant Your Change Service for that transaction. If your Debit Card transaction is subsequently canceled or reversed, the corresponding Plant Your Change Service Fee remains as a debit to your account. We may cancel the Plant Your Change Service at any time. The Plant Your Change Service is not a securitized product or investment and participation in the Plant Your Change Service should not be considered an offer to purchase any security or investment. Customer may cancel at any time.
*One million trees committed to plant with our reforestation partners from 1 million Plant Your Change round-ups.
**NO PURCHASE NECESSARY TO ENTER OR WIN. ENTRANTS ARE NOT REQUIRED TO BE AN ASPIRATION CUSTOMER TO BE ELIGIBLE. Eligibility is limited to legal residents of the fifty (50) United States and the District of Columbia who are of eligible age to participate in their jurisdiction and eighteen (18) years of age or older. To Enter: Between 12:00 a.m. Pacific Time ("PT") on June 26, 2020 and 11:59 p.m. PT on July 31, 2020 (the "Entry Period"), there are two ways to enter: 1) Each use of the Aspiration debit card to make a purchase that rounds up change to plant a tree will constitute a single entry, up to a maximum of ten (10) entries per day (Plant your Change is a separate Opt-in Program) OR 2) Electronic entries, limit (1) per day, by filling out the following form: https://forms.gle/i4Vuxi5QxrBnVSzw6. One Electronic Entry will be equivalent to ten (10) entries, the maximum number of entries per day. Limit ten (10) entries per customer per day for the duration of the Entry Period regardless of method of entry Joint account owners are considered one customer for the purpose of the promotion. Entries generated by script, macro or other automated or mechanical means, fraud or other illegal activity, or means which subvert the entry process will be void. One (1) winner will be chosen at random from all entries to receive the $5,000 cash prize. Winner is responsible for any federal, state, or local taxes due on the bonus and we will report as income to the tax authorities, if required by applicable law. Winner should consult a tax advisor. For more information on Plant Your Change, click here . For a full set of rules, conditions, and terms, including rules for joint accounts, click here .3 Banking on Climate Change: Fossil Fuel Finance Report 2020, by Rainforest Action Network, BankTrack, Sierra Club, Oil Change International, Indigenous Environmental Network and Reclaim Finance. https://www.ran.org/bankingonclimatechange2020. Top 4 banks by dollars invested in fossil fuels: JP Morgan, Wells Fargo, Citi, and Bank of America.