The new product, called the “Spend & Save Account” is akin to a high-yield checking account. It offers 2% APY on deposits, and each account is insured by the FDIC up to $250,000, according to the company. On the surface, Aspiration’s offering appears similar to other recent products offered by fintechs like Wealthfront and M1 Finance.
However, the company promises that the deposits will be “100% fossil fuel free” and offers shoppers who use the Aspiration debit card extra rewards for shopping at businesses with strong environmental and employment practices. Users will also earn unlimited cash back on every dollar they spend.
Read More.. Source Business Insider