Aspiration Digital Bank is a new type of bank that was founded in 2013. It is an online-only bank that provides its customers with a range of financial services. Aspiration is different from traditional banks in many ways. For example, it is a socially-conscious bank that cares about the environment and social justice. This article will explore the benefits of Aspiration Digital Bank and why you should consider it for your banking needs.
What is Aspiration Digital Bank?
Aspiration Digital Bank is an online-only bank that offers a variety of financial services to its customers. The bank was founded in 2013 by Andrei Cherny and Joseph Sanberg. The aim of the bank is to provide its customers with a range of financial services that are affordable, accessible, and socially responsible.
Why Choose Aspiration Digital Bank?
There are many reasons why you should consider Aspiration Digital Bank for your banking needs. The following are some of the benefits of banking with Aspiration:
- Low fees
- No monthly maintenance fees
- No overdraft fees
- No minimum balance requirement
- High interest rates
- Socially-conscious banking
Low Fees
Aspiration Digital Bank has some of the lowest fees in the industry. The bank charges no monthly maintenance fees, no overdraft fees, and has no minimum balance requirements. This means you can save money on fees and keep more of your hard-earned money in your account.
High Interest Rates
Aspiration Digital Bank offers some of the highest interest rates in the industry. The bank’s savings account offers an annual percentage yield (APY) of up to 1.00%. This means you can earn more money on your savings compared to traditional banks.
Socially-Conscious Banking
Aspiration Digital Bank is a socially-conscious bank that cares about the environment and social justice. The bank has a feature called “Aspiration Impact Measurement” which allows customers to see the impact of their purchases on the environment and society. Aspiration also donates a portion of its revenue to charitable causes.
Aspiration Digital Bank Products and Services
Aspiration Digital Bank offers a range of financial products and services to its customers. The following are some of the products and services offered by Aspiration:
- Savings accounts
- Checking accounts
- Credit cards
- Investment accounts
- Retirement accounts
Savings Accounts
Aspiration Digital Bank’s savings account is a high-yield account that offers an APY of up to 1.00%. The account has no monthly maintenance fees, no minimum balance requirement, and no overdraft fees. The account also comes with a feature called “Aspiration Impact Measurement” which allows you to see the impact of your purchases on the environment and society.
Checking Accounts
Aspiration Digital Bank’s checking account is a fee-free account that offers unlimited ATM fee reimbursements worldwide. The account also has no monthly maintenance fees, no minimum balance requirement, and no overdraft fees. The account also comes with a debit card that can be used at any ATM worldwide.
Credit Cards
Aspiration Digital Bank offers a credit card that is socially-conscious and has no annual fee. The card offers up to 1.00% cashback on purchases and comes with a feature called “Conscience Coalition” which allows you to earn extra cashback when you make purchases at socially-conscious merchants.
Investment Accounts
Aspiration Digital Bank offers investment accounts that are socially-conscious and have no minimum investment requirement. The accounts offer a range of investment options, including mutual funds and exchange-traded funds (ETFs).
Retirement Accounts
Aspiration Digital Bank offers retirement accounts that are socially-conscious and have no minimum investment requirement. The accounts offer a range of investment options, including Roth IRAs and traditional IRAs.
How to Open an Account with Aspiration Digital Bank
Opening an account with Aspiration Digital Bank is easy and can be done in a few simple steps. The following are the steps to open an account:
- Go to the Aspiration website
- Choose the account you want to open
- Fill out the application form
- Verify your identity
- Fund your account
Conclusion
Aspiration Digital Bank is a new type of bank that offers a range of financial services that are affordable, accessible, and socially responsible. The bank has no monthly maintenance fees, no minimum balance requirement, and no overdraft fees. Aspiration also offers high interest rates on its savings account and socially-conscious credit cards. If you are looking for a bank that cares about the environment and social justice, then Aspiration Digital Bank is the perfect choice for you.