Offer at a glance
- APY: Up To 5% APY
- Availability: Nationwide
- Direct deposit required: No
- Additional requirements: $1,000 in debit card spend
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: Up to $7.99
The Offer
- Aspiration is offering up to 5% APY on balances up to $10,000. It requires $1,000 in monthly spend. There are two tiers of accounts:
- Aspiration, no monthly fee and earns 3% APY
- Aspiration Plus, $7.99 monthly fee and earns 5% APY
Avoiding Fees
Monthly Fees
As mentioned above there is one account with no monthly fee and the other account has a $7.99 monthly fee that is not avoidable.
Our Verdict
You can also get a sign up bonus of $100-$200 as well from Aspiration. If you max out the account this is how much you’d earn per month:
- Aspiration (3%): $25
- Aspiration Plus (5%) $41.67
So if you’re maxing out the account then it is worth paying the $7.99 monthly fee. The main problem with these accounts is that it requires the $1,000 in spend. If you put that on a credit card earning 2% cash back that would be $20 monthly, obviously if you put it towards meeting minimum spend requirements on credit card bonuses it’s even higher.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
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