Aspiration bank new account

Aspiration is a fintech company that offers a range of financial products and services, including a high-yield savings account. Here's an overview of the Aspiration Bank new account process:

Eligibility:

To open an Aspiration Bank account, you must be at least 18 years old and a U.S. citizen or resident alien. You'll also need a valid government-issued ID and a Social Security number or Individual Taxpayer Identification Number (ITIN).

Application Process:

1. Sign up online: Go to Aspiration's website and click on "Open an Account" to start the application process.
2. Fill out the application: Provide the required personal and financial information, including your name, address, date of birth, and Social Security number.
3. Verify your identity: Aspiration uses a third-party service to verify your identity. You may be asked to upload a government-issued ID or take a photo of yourself holding your ID.
4. Fund your account: You can fund your account with an initial deposit of at least $10. You can also set up automatic transfers from your existing bank account.
5. Wait for approval: Aspiration will review your application and verify your information. This may take a few minutes to a few days, depending on the complexity of your application.
6. Activate your account: Once your account is approved, you'll receive an email with instructions on how to activate your account. You'll need to create a username and password, and set up two-factor authentication.

Features and Benefits:

Aspiration's high-yield savings account offers a range of features and benefits, including:

• High-yield interest: Earn up to 2.00% APY on your savings, with no minimum balance requirements.
• No fees: Aspiration doesn't charge any fees for its savings account, including no monthly maintenance fees, overdraft fees, or ATM fees.
• Mobile banking: Access your account and manage your finances on-the-go with Aspiration's mobile banking app.
• FDIC insurance: Your deposits are insured up to $250,000 by the Federal Deposit Insurance Corporation (FDIC).
• Sustainable investing: Aspiration offers a range of socially responsible investment options, allowing you to align your investments with your values.

Additional Requirements:

To maintain your Aspiration Bank account, you'll need to:

• Maintain a minimum balance: While there's no minimum balance requirement, you'll need to maintain a positive balance in your account to avoid closure.
• Make regular deposits: Aspiration encourages regular deposits to keep your account active and avoid fees.
• Comply with anti-money laundering regulations: Aspiration is required to comply with anti-money laundering regulations, which may require you to provide additional information or documentation.

Overall, Aspiration's new account process is designed to be easy and convenient, with a focus on providing a high-yield savings account with no fees and a range of sustainable investing options.