Online-only banks are extremely popular these days, which is great news for consumers. The very best of these banks offer competitive interest rates, cash-back rewards, and some impressive cash sign-up bonuses.
Aspiration Plus costs $7.99 per month or $5.99 per month if you pay annually, which is $71.88 to $95.88 per year. This is comparable to other premium rewards credit cards, and Plus customers get perks like up to 10% cash back, 90 days of purchase assurance, and one monthly out-of-network ATM withdrawal reimbursement.
You have to fund your account with at least $10 to be eligible for this bonus. And eligible spending doesn't include cash transfers made between apps like Cash App or PayPal. Your account must be in good standing, which is the sole determination of Aspiration, and this banking bonus is subject to change or termination at any time.
Other Ways to Earn Aspiration Bank Bonuses
There are other ways you can earn bonuses with this competitive online bank, especially since the Pay What Is Fair plan can cost $0.
Earn Aspiration Referral Bonuses
The Aspiration referral program pays you $50 if someone you invite opens a new Spend & Save account and spends at least $250 on eligible purchases within their first 60 days. You also get a $50 reward if you refer someone who opens an Aspiration Zero credit card. Plus, Aspiration adds 60 planted trees in your honor, so you can feel good about inviting your friends.
Note that you can only earn up to $1,500 per month in referral cash. Furthermore, Aspiration might issue you a 1099 form so you can report your referral earnings.
Earn Cash-Back Rewards
Another way to earn cash bonuses from Aspiration is to shop from companies that are part of its Conscience Coalition program. This program includes companies that support environmental sustainability and initiatives. Some notable partners include:
- Arcadia Power
- Blue Apron
- Imperfect Foods
- Warby Parker
Customers on the Pay What Is Fair plan earn 3% to 5% cash back for spending at Conscience Coalition partners. If you're on the Aspiration Plus plan, you earn up to 10% cash back. As mentioned, the Plus plan costs $7.99 per month or $5.99 per month if you pay annually, so look back through your spending and see if the extra cash-back rewards can offset this fee.
One of the main reasons to bank with Aspiration is the interest rates you can get with its Spend & Save account. In fact, Aspiration currently beats most high-yield savings accounts, although some conditions apply.
The Pay What Is Fair account pays you 3% APY on your first $10,000 in your account as long as you spend $1,000 per month. Funds over $10,000 don't earn any interest. You also don't earn interest if you don't hit the $1,000 monthly spending requirement.
For Aspiration Plus customers, you earn 5.00% APY on your first $10,000 if you spend at least $1,000 per month. Funds over this amount earn 0.10% APY. If you miss your spending requirement for a month, you earn 0.25% APY on funds up to $10,000 and the regular 0.10% APY on additional cash.
Aspiration is one of the best online banks at the moment because of the impressive APY you can get. You have to spend a lot to unlock these rates, but it's a better option than pretty much any high-yield savings account right now for balances under $10,000.
You can also explore options like the Aspiration Zero credit card if you want to plant trees after every purchase. And make sure to explore its referral program and Conscience Coalition rewards program to make the most out of this eco-friendly bank.