Aspiration Bank is an online-only bank offering interest-bearing checking accounts and some other services. There are other online (and offline) banks out there, but none match up to Aspiration!

What Aspiration Offers?

What doesn’t it offer? First off, the Aspiration Summit Checking Account has NO monthly fees. There are zero minimum balance fees, overdraft fees, and ATM fees when you use your Aspiration Bank Debit MasterCard. Your debit card also gets you 0.5% cash back on all purchases - making it a cash-back-card!

The Aspiration Bank Summit Account is an interest-bearing checking account that you can open with as little as $10. The account earns an APY of 1%, which according to the bank’s website, is up to 100 times better than the interest rate offered at big banks.

Why Did I Fall In Love?

It’s simple to throw out a word like “love”. But when you actually mean it, the word takes on a whole other meaning. Aspiration is perfect for someone like me. Aspiration Bank offers customers who want the convenience of banking online, without the need to visit a branch. They do not have physical branches, but that is a plus for someone like me.

You have the option of paying more for extra banking services — but only if you want to. Aspiration gives you the ability to pay fees, up to the amount you think is fair, even if that’s zero dollars.

You can check your balance, schedule transfers or make bill payments with the Aspiration Bank mobile app for iOS and Android. Since Aspiration is an online bank, account opening takes place online. Anyone can open an account if they’re 18 years old or older and have a U.S. Social Security number.

It even works with PayPal, Venmo, Mint and other digital wallet apps.

Why You May Fall In Love Too

Most people see the biggest benefit of opening a checking account with Aspiration Bank is not paying any fees. That’s rare, even for online banks which often lower their fees to compete with bigger brick-and-mortar banks. Earning interest on your checking balance is also a nice perk; it’s almost like doubling your checking account as a savings account. And, being able to use any ATM, anywhere in the world without paying a surcharge is appealing if you travel often for work, school or just for fun and regularly make cash withdrawals.

However, Aspiration also allows you to give charitable donations through your Aspiration account and track your giving activity. You decide how much you want to give to the charities you care about most from one of seven dedicated giving categories like; Poverty, Education, Human Rights, and more.

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