This All-in-One Banking Account Will Let You Close Your Other 382 Accounts

Hands holding Aspiration card
Aileen Perilla/ The Penny Hoarder
Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners.

“Our life is frittered away by detail. Simplify, simplify.” — Henry David Thoreau

If you’re like most Americans, you’ve got a bunch of different financial accounts in a bunch of different places.

There’s your checking account. Maybe a savings account. If you’re thinking about the future, you’ve got an investment account of some kind. And of course, your cash-back credit card account. And on and on…

So many accounts! Too many accounts scattered everywhere! It muddies your financial thinking. It adds unnecessary stress to your money management.

Take Thoreau’s advice: Simplify, simplify.

Consider keeping all your money in one place that lets you pay bills, build your savings, earn interest and get cash back. Aspiration has just launched an all-in-one account where you can take control of all your money in one place.

Here’s what it offers:

  • The online account gives you a debit card with no ATM fees, so you can use any ATM you want.
  • It pays up to 2.00% APY on your savings.
  • It also comes with a debit card that gets you 0.5% cash back on purchases. It basically turns your debit card into a cash-back card.
  • The company also offers two investment funds for middle-class investors. They require only a $100 minimum investment.

Declutter Your Financial Accounts

Aspiration makes it easy to use an online account. Its mobile app lets you access the account from anywhere, and deposit checks from your phone. It offers unlimited ATM fee reimbursements. It’ll pay your ATM fees anywhere in the world.

There’s no monthly fee and no minimum balance. All of Aspiration’s services work on a “pay what is fair” model. You choose your price and pay as a “tip” — up to $10 a month and as little as $0.

It’s also easy to set up. The whole sign-up process takes about 20 minutes, and you can open an account with just $10.

Investing Through Aspiration

Aspiration offers two investment funds for middle-class investors. They are:

  • Flagship Fund: This mutual fund has a goal of safe long-term growth.
  • Redwood Fund: This fund invests in companies with sustainable, environmental and socially responsible practices.

Because they require only a $100 minimum investment, they open up financial services that were traditionally only available to elite investors.

Bonus: Donate to Charity

Aspiration’s a do-good company, focusing on sustainability and charity. You can give to your favorite causes directly from your Aspiration account. Just enter an amount you want to give, and select one or more causes — poverty, water, education, etc.

Plus, when you refer a friend who opens a Aspiration account, the company will donate $25 to your favorite charity and to your friend’s, too. That’s all on top of the 10% the company already commits to donate.

The bottom line: You don’t have to keep your money in a bunch of different places to achieve all your financial goals. You can do it all with this company.

Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder. He likes to quote Henry David Thoreau in pretentious attempts to sound intelligent.