Although I am a new customer of Aspiration Bank, I'm not new to all the 'tricks' people claim banks use. I work for Bank of America and I know a great deal compared to a raw deal and Aspiration Bank is the former.
My sole intentional use for Aspiration Bank’s Summit Account is to use it as a savings account which offers great returns compared to Bank of America or my local brick and mortar bank (which will go nameless because it’s a great bank that is monthly maintenance fee (MMF) free). I have yet to overdraft any of my bank accounts (knock on wood), but if you’re the type of customer that constantly overdrafts your account, you’re going to have a bad time no matter who you bank with. With that being said, I know what I’m getting myself into with Aspiration Bank and will be using my local brick and mortar bank for direct deposits, cash deposits, check deposits, and for transferring money into Aspiration Bank.
As far as Aspiration Bank’s Red Wood and Flagship Fund, I think I’ll be consulting my accountant for better options as, indicated by this article, robo-advisors charge less in fees.
I will come back in a few months and keep you updated of my true review, but for now, it's five stars.
Bottom Line: Yes, I would recommend this to a friend