The former speechwriter for President Bill Clinton, Andrei Cherny, decided that people had had enough of bad banking policies and how they took advantage of people when they were really down and out.
Cherney decided to create his own online bank that was far different than any other banking system available. Based out of Marina Del Rey, California, Aspiration Bank, sometimes called Aspiration Summit after the name of the checking account, was founded in 2013. Cherny saw the opportunity for a new kind of bank. One that would cater to a customer that is concerned with where their money is being invested by their financial institution and how their financial institution treats its customers as well.
Calling on Hollywood celebrities and athletes from the Los Angeles community, along with some of the biggest names in finance, Aspiration was able to pull together what might be considered one of the largest Series B in financial technology investment history for an online banking company.
Since its inception, the company states it has more than $350 million in savings and does approximately $2 billion per year in transactions. Clients can earn 1% interest on their accounts (there is only one account, no separate “savings” and “checking” accounts) and there are currently no charges for ATM fees.
The company also has a mobile phone app which makes the online banking process even easier. Aspiration is also known for being one of the nation’s most charitable banks, giving away 10% of their profits to non-profit charities that are not fossil fuel driven. 
The company makes money by charging a fee set by the customer for the services they use.
Company headquarters remain in Marina Del Rey, California.
This bank, in my opinion and the actions thus far, a fraudulent scheme, I have had an account with this bank almost two years, my balance was at $2.00 in my spend account and $0.50 in my save account, The bank received received an insurance settlement for me to be deposited for my access and benefit and was to be posted to my save account deposit I requested that $800.00 to be transferred to my spend account. I was also receiving funds for unemployment.
They froze my account on day one, and stated they returned another incoming direct deposit item coming from unemployment benefit services, they also stated there were three other reversals to unemployment benefit services as there was an issue there. I contacted customer support and the fraud department of the unemployment benefit services and they stated there were no issues and they did not initiate any reversals nor do they have these funds. I got the department name and the individual I spoke with I also emailed the documentation showing where the $5,000 came from proving it was from a legitimate source, I have provided them with my ID. I then told them to close my account immediately and forward my money to me without delay as I felt they were stealing my money. They did not. They will not acknowledge the proof nor the fact that I have caught them in an outright lie. Their Customer agreement and disclosures for FDIC insurance that are on their website give their customer service number and to call to find out balance, etc. It even states and I was told by email to contact them as I also read in CFR that they are to provide me my account balance at any time I request it. It also states that they are to send me said funds if I can prove the legitimacy of it and request it, they are also supposed to remove your funds from any bank without hesitation if you notify them that you designate any bank they have your funds deposited at as ineligible. I have done this as well stating that every bank that they use or plan to use I designate as ineligible to hold my funds, they are also to provide Which bank your money is deposited at and they have failed to do so every time. I was told today that I will no longer receive customer service through there customer service line and that is the only place they list to communicate with them in their customer service agreement. They are attempting to steal my money all the while I have child I .taking care of and this child’s ajd my belongings are about to be auctioned off because I promised the storage facilities that I would pay them on the date that I knew my direct deposit would arrive, if I am to pay it off it will be over $3500 now instead of $1400.00 I am now unable to even survive and take care of my child so I am going to have to rely on mother that has had 2 open heart surgeries and is 72 years old. This bank was not started to do good,this is a SCAM PEOPLE BEWARE THEY WILL TAKE YOUR MONEY.
I have filled out complaint after complaint, I want to make a formal criminal complaint against the CEO, et. al. I think they are in collusion to perpetrate fraud and further their harm to their customers financial for their own financial gain outside the scopes of regulations and the law, I truly feel that this organization is perpetrating actions in violation of the RICO stature. I am no lawyer nor am I any type of law enforcement and I am only stating my opinions, feelings, or thoughts except where they have blatantly taken my money without cause and refuse to forward the funds to me and as one of their employees stated to me today, “we do not deal with real money.” So we don’t have to tell you anything. PLEASE BEWARE of This company. If anyone wants to contact me and they too feel they have been defrauded by Aspiration and they caused undue and irreversable harm please look up SKOOKUM88 in instagram and let me know as i even feel they have violated my civil rights under the color of law and they should not be allowed to get away with this nor be able to further their activities any further.
We have started to work with attorney for a class action lawsuit Aspiration Bank is using bait and switch tactics offering a bounce to get a quote on insurance no longer providing fee free ATM’s
Aspiration Bank is making offers they can’t follow through with
Hands down this is the most inept financial institution I ever dealt with. And they are refusing to close my account, in spite of me mailing them a signed letter and my debit card cut up with scissors. They are desperate for customers. I will keep my money at my local credit union. Credit unions don’t invest in fossil fuels, are member-owned (not seed-funded by billionaires (like “Perspiration” is), and credit unions mostly have staff with at least modicum of competence. This bank does excel at brainless staff sending form letters.
I am locked out of my account. How do I get my money back?
This has been the worst experience i have ever had with a bank and to top it all off they refuse to give me my money i deposited from my direct deposit to my saving because they have decided after giving me an account they needed further verification of another bank account that is not associated with them at all.. Can they legally even do this…???
I am extremely angry by the level of incompetence of multiple reps and multiple supervisors I have been given misinformation and lied to by each person on every single call . Since opening my account I have had to call a minimum of 30 times .
I have NEVER in my 57 years dealt with such an incompetent company . I took the time to read reviews by other customers EVERY SINGLE ONE OF THEM WAS NEGATIVE !!!!!!!!!!!!!!!!!!!!!!!
I want a member of management NOT a supervisor to contact me immediately at 207-313-XXXX . I am seriously thinking about reporting your bank to the National Better Business Bureau .
An extremely angry appalled customer
Jennifer Byron
As I am a new customer with aspirations and do appreciate the products offered, I’ve must let you know your customer service is appalling! Every time I call regarding an issue I get a different answer! Robert the supervisor to day with extremely rude, condescendingly nasty, and just plain unhelpful! After being promised a call back AND / OR email re. a promotional deadline I “seeminhly” missed, I simply wanted to hv that promo. email resent to me to verify the deadline dates I was told I met THEN told I didnt meet…. 6 calls later. SOME OF YOUR CSReps, INCLUDING ROBERT, THE “SPVR” NEEDS TO BE RETRAINED.
Back in the day when I was a CSR …We NEVER TOLD THE CUSTOMER WE COULD NOT DO SOMWTHING…. WE S.L.W.A.Y.S. GOT IT DONE!
TEACH THEM THAT or you will become just ANOTHER BIG VORP. BANK WITHOUT A CONSCIOUS!!!
i need a replcement card mail out to address XXXX Kerfoot ave Chicago IL 60620 if y’all have any questions i can be reach at phone number 773-690-XXXX thank you
missing funds from this bank twice in the last two months. no one ever picks up the phone. shameful.
I have had some issues with the transition of my new account from my old, however I cannot get a customer service rep on the phone. It’s a bit frustrating since I have never had issues with this bank.