†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 eight Banks available to accept your deposits, making customers eligible for up to $2 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.
1The Annual Percentage Yield (“APY”) associated with the Aspiration Spend & Save Account is available only to customers enrolled in Aspiration Plus. APY is variable and accurate as of 04/01/2020. Rates may be changed from time to time without notice. To earn 1.00% APY interest on Aspiration Save Account balances up to and including $10,000.00 in any calendar month, customer must be enrolled in Aspiration Plus and spend $1,000 or more, monthly, with their Aspiration debit card. Balances over $10,000.00 will earn 0.10% APY. If the requirements are not met each month, the APY will be 0.25% on Save Account balances up to and including $10,000.00. Balances over $10,000.00 will earn 0.10% APY. Minimum deposit required to open an Aspiration Save Account is $10.00. Enrollment fee and Pay What Is Fair fees debited directly from the Aspiration Save Account could reduce earnings. Customers not enrolled in Aspiration Plus will not earn interest. For more information, click here.
2Customers will earn Cash Back on all debit card purchases. Customers may also earn additional Cash Back for purchases made at selected merchants. Cash Back percentages are subject to change at any time without notice. Cash Back will be credited to customer’s Aspiration Spend Account once on the first day of each calendar month. Aspiration reserves the right to reverse Cash Back transactions under certain circumstances and the right to terminate a customer’s Cash Back feature for any abuse of the feature. This Cash Back rewards program is subject to change by Aspiration at any time without notice. For more information, click here.
3For more information on the statement that cars are one of the biggest contributors to climate change click here and here. Planet Protection currently offsets the CO2 emissions from driving your vehicle. Learn more.
4ATM use is free and unlimited, at Allpoint ATMs only. Transaction amount caps may apply. ATMs not included in the Allpoint network are considered out of network and customers may be charged a fee from that third-party ATM provider. Allpoint ATMs can be found via our ATM Locator here: https://www.aspiration.com/atms. Customers enrolled in Aspiration Plus may receive one out-of-network ATM fee reimbursement per month. Please note, there is also a foreign transaction fee of one percent that is not waived when using foreign ATMs, which will be included in the amount charged to your account. Aspiration Debit Card is issued by Coastal Community Bank, Member FDIC, pursuant to a license by Mastercard International Incorporated. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
5The Aspiration Spend & Save Account provides customers with the ability to see Aspiration Impact Measurement (AIM) People and Planet scores on a range of merchants where they shop using the Aspiration Debit Card. These scores are determined using a proprietary algorithm that incorporates several measures of sustainability performance. For more information, please click here.
6Aspiration Financial, LLC. and its affiliates are committed to "All Extra Services Provided at Cost," meaning that we'll only charge you what it costs us to provide the extra service (such as a wire transfer), and not a penny more. Besides these at-cost service charges, the only account fee you pay is the fee you choose, even if it’s $0, which is why we call it Pay What Is Fair. For a list of service charges, click here.
7Plant 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