LOS ANGELES--(BUSINESS WIRE)--Just in time for Valentine’s Day, Aspiration, the financial firm with a conscience, today announced that it will be providing customers who switch from Bank of America with a $12 credit, representing the $12 they would pay in monthly checking fees, now that the big bank has eliminated its free checking option. Aspiration’s revolutionary “Pay What Is Fair” business model trusts customers to choose the fee they pay, even if it is zero dollars. This foundation of trust -- and anger over Bank of America’s decisions -- have led over 25,000 customers to recently switch from Bank of America to Aspiration. Aspiration has built a special site inviting Bank of America customers to make the switch at www.aspiration.com/movefromBofA.
“America’s biggest financial institutions are putting their own profit ahead of what’s best for their customers and people are sick of it,” said Andrei Cherny, co-founder and CEO of Aspiration. “The best way to send Bank of America a message this Valentine’s Day is to send them a break-up text. Instead of charging people an extra $12, we’re giving $12 to Bank of America customers who join the thousands of others every week who are making the switch to fair and ethical banking with Aspiration.”
Aspiration customers transact over $2 billion a year on the Aspiration platform and save over $100 million in bank fees through the FDIC-insured Aspiration Summit checking account. In addition to letting customers name their own fees for checking and investing, Aspiration charges zero ATM fees at any ATM in the world. Since it opened for business in 2015, Aspiration has become one of the fastest growing online banking and investing companies in America, adding thousands of new customers every week. The company also recently raised $47 million in Series B funding, the largest B round ever raised by an American online banking company.
Last year, the company launched the Aspiration Impact Measurement (AIM) feature of its mobile app that allows customers to see their own personal Sustainability Scores and choose where they spend based on businesses’ impact on people and the planet. The company partners with the Sierra Club and offers a 100% fossil fuel-free and firearm-free sustainable investment strategy available at a minimum investment of $100. By investing sustainably with Aspiration instead of the S&P 500, Aspiration customers have reduced greenhouse gas emissions by the equivalent of 3 million fewer miles driven by American cars.
Aspiration will provide a $12 credit to any customer who visits the “Break Up with B of A” site at www.aspiration.com/movefromBofA and opens an Aspiration Summit checking account before February 14th with a linked Bank of America account. For full offer rules please visit: www.aspiration.com/movefromBofA.
Aspiration is a financial firm with a conscience dedicated to bringing fair, sustainable banking and investment products that help its customers “Do Well” and “Do Good.” Since it opened for business in 2015, Aspiration has become one of the fastest growing online financial firms in America, now adding thousands of new customers every week. By allowing its customers to pay what they think is fair; donating 10 cents of every dollar earned to charity; helping its customers bank, spend, and invest sustainably; and bringing high-quality financial products to all, Aspiration is revolutionizing the financial industry and changing it for the better. Aspiration is a certified B Corp. For more information, visit Aspiration.com.