Aspiration is a nonbank financial institution that offers the Spend and Save account, one that has both checking and savings features. Customers can opt for a basic account that has a “pay what is fair” monthly fee, which could be $0, making the account free.

It's not a bank, but rather an online-only financial firm, and it offers a cash management account instead of traditional checking or savings accounts. Some transactions with an Aspiration debit card can earn cash back, and your deposits are eligible to earn interest if you meet certain qualifications.

Coastal Community Bank Aspiration Debit Cards are issued by Coastal Community Bank, Member FDIC, pursuant to a license by Mastercard International Incorporated.

Debit cards do take 7-10 business days to arrive, but if your card does not arrive after 10 business days you can report your card as lost or stolen through the app or website by going to your account settings, then Card Management.

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Finally, Aspiration accounts are covered by the same FDIC insurance as traditional bank accounts. Aspiration is unique in that balances are deposited with up to eight FDIC insured banks. In total, that gives you up to $2 million in FDIC insurance per depositor.

Is Aspiration Financial safe? Money deposited into Aspiration's Spend & Save accounts is held at FDIC-insured banks, so your funds in these deposit accounts are as safe as they would be in any U.S. bank.

It packs some desirable bank account features, like a high APY and cash back on debit card purchases, with unique perks that help the environment. But if you want access to Aspiration's best perks, you have to be willing to pay a monthly fee. Read our full Aspiration account review to find out more. Member FDIC.

Security. Is your money safe at Aspiration? Yes, it is safe. Even though Aspiration itself is not a bank and does not hold a banking license, your deposits are safe as the money is held at several partner banks, which are insured by the Federal Deposit Insurance Corporation (FDIC).

Limitations on Frequency and Amount. For security purposes, there are limits on the frequency and amount of transfers you may make using ATMs. We may limit the number of cash withdrawal from ATMs per day. You may withdraw up to a maximum of $500.00 (if there are sufficient funds in your account) per day.

*7 ATM use is free and unlimited, at Allpoint ATMs only. Transaction amount caps may apply. ATMs not included in the Allpoint network are considered out of network and customers may be charged a fee from that third-party ATM provider.

For accounts linked to a Classic Debit Card or a Maestro Debit Card, the daily cash withdrawal limit is ₹20,000. For accounts linked to SBI Platinum international debit cards, the daily cash withdrawal limit is ₹1 lakh.

$500 ATM Withdrawal limit. $4,000 Total PIN & Signature based limit. $4,530 Total Daily Card Limit.

The national average checking account earns 0.01%. No monthly service fees. No minimum balance requirement.

AMC for a Debit Card The AMC will be determined based on the type of ATM card you have. Banks like HDFC Bank, Axis Bank, SBI, and Punjab National Bank typically levy an AMC of Rs. 100 to Rs. 150 for classic cards.

Daily withdrawal limits typically range from $300 to $5,000 with most limits falling between $500 and $3,000. Your individual daily withdrawal limit usually resets the following day. However,be aware that, in some cases, daily limits are determined by a 24-hour period instead of a calendar day.