Understanding Aspiration

Estimated read time 2 min read

Aspiration was launched in 2015. It offers a variety of financial products including current accounts and savings accounts as well as mutual funds and retirement savings. Aspiration offers a new way to bank customers who are tired of traditional banks. FDIC insurance covers funds deposited into Aspiration current and savings account up to $2,000,000 per depositor. Aspiration’s goal is to improve the world by offering socially responsible banking and investment services. They provide socially responsible products, services and investments with a unique approach to pay-for-fair. The company does not have physical branches or locations, but it is an online provider of financial services. You will find several benefits when you choose online banking. They also offer an IRA and professional managed fossil-fuel-free funds.

Aspiration offers a range of banking products that are free, offer high interest rates, and reward you with cashback. With Aspiration you can earn 5% cashback on Conscience Coalition retailers like Tom, Warby Park, etc. Customers of Aspiration can also manage their cash, pay bills and earn interest through CMA brokerage accounts. You can also deposit cash to external accounts, as they do not accept ATM deposits.

Aspiration offers conscious, sustainable cash-management services and investment solutions that will help you earn money and improve the world. Aspiration, unlike big banks does not use deposits to fund pipelines and do not turn fees into campaign donations to politicians that work against you. It doesn’t use its deposit to fund projects that are harmful to the environment such as fossil fuel exploration. The charity donates 10% of each dollar that their clients contribute to the charity. This helps Americans in need to build a better future. This could make them the leader in financial services when it comes giving back.

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