Ando Money Review: A Bank That Fights Climate Change With Zero Monthly Fees

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If you are looking for a safe place to keep your money, Ando Money is a neobank that offers competitive banking features with a unique twist. 

What sets this bank apart from the competition is that they use their resources to positively impact the environment. 

In this Ando Money review, we’ll share exactly how it works, the company’s features, fees and more so you can decide if it is the right bank for you.

ando logo
Overall Rating


Ando Money is a neobank that offers affordable and convenient banking features. In addition, they help fight climate change by using the money you keep on deposit to invest in environmentally friendly efforts.

  • Ease of use


  • Customer service


  • Fees


  • Features



  • Environmentally friendly investing initiatives
  • No-fee checking and savings accounts
  • Free Visa debit card
  • Savings round-up features
  • 3x the nation average interest paid on savings


  • No joint accounts allowed
  • No branch locations
  • Cash deposits come with a fee through Green Dot

What is Ando Money?

ando money homepage

Ando Money is a banking fintech offering sustainable banking solutions that focus on transparency. But, it’s important to first understand what banking fintechs are.

Also called neobanks, banking fintechs are popping up everywhere. They can provide many benefits that traditional banks sometimes lack and have a wider range of customers they can reach if they don’t rely on Chexsystems.

Banking fintechs can help save you money as well. This is because they often offer reduced fees or no fees for basic banking services. 

Additionally, they help reduce the carbon footprint because there is no construction of bank branches. Instead, everything is done online from the comfort of your home.

Ando Money may sound like just another neobank in a long line of available options. However, in addition to some attractive banking features, Ando includes “environmental crusader” on its list of features. 

According to Ando Money’s website, their investments are only used to support green initiatives with a focus on preventing climate change.

How Does Ando Money Work?

Ando Money provides you with an effortless way to fight climate change while giving you access to the banking features you need. 

Like other banks, Ando Money uses the funds kept on deposit to invest and earn more money. However, most banks invest your money heavily into fossil fuels. 

This company deviates from mainstream banks and actively invests your money into climate change initiatives. 

Their goal is to simultaneously provide attractive banking features and work to use the money they’re entrusted with to better the planet. 

Account Types

With Ando Money, you open a spending account that functions like a checking account. It is a full-featured account with $250,000 in insurance coverage from Community Federal Savings Bank, Member FDIC.

You also have the option of opening a savings account. However, this is not required.

Deposit Capabilities

You have several options for depositing money into your Ando Money account. 

These include:

  • Direct deposit from your employer or government agency
  • Transfers from an outside bank account
  • Cash deposits (through third-party money transfer services)
  • Checks and money orders (accepted via the mobile app)

Impact Choices

Ando money impact choices

Ando Money uses your money to invest in socially responsible and sustainable ventures. However, they take it one step further with their Total Transparency commitment. 

The Ando Money website says you’ll get transparent insights, so you know exactly what the company is doing to help the planet. 

You can allocate your money to impact the causes you care most about as well.

This can include:

  • Clean energy
  • Sustainable transportation
  • Green buildings
  • Sustainable industry

From those categories, you can use sub-categories to direct your allocations. 

For example, you can allocate your clean energy funds to sub-categories like:

  • Solar energy
  • Hydropower
  • Wind energy
  • Storage
  • Infrastructure

This model helps you have control over which segments of sustainability and socially responsible investing you want to support.

Carbon Footprint Reduction Reports

Ando carbon footprint

Ando also helps you see the impact you’re having on the environment through its carbon reduction calculation feature. 

For example, for every $175 you have in your Ando account that is used to invest in sustainability, you reduce the annual carbon footprint equal to that of one fully mature tree.

Knowing this number helps you get a clear picture of how the money you deposit gets put to work for the environment. 

How Much Does Ando Money Cost? 

Ando Money checking and savings accounts are free and don’t charge any monthly fees. The Ando Visa debit card is free as well as long as you use an in-network ATM.

However, there are some fees to be aware of if you choose to use Ando Money:

Out-of-network ATM withdrawal$2.95
Over-the-counter (OTC) ATM withdrawal$2.95
Paper communication requests$4.95
Debit card replacement$4.95

It’s important to keep in mind that some ATM owners will charge separate fees as well.

See Ando Money’s Terms and Conditions page for more information on fees. 

Transaction Limits

As with all neobanks, there are also transaction limits in place. 

Here are the current Ando transaction limits:

Maximum account balance$50,000
Direct deposits$10,000 daily, $20,000 monthly
ATM cash withdrawals$500 per transaction, $1,000 daily, $5000 monthly
OTC withdrawals$1,000 daily
Debit card purchases$2,500 daily, $10,000 monthly

There are other limitations as well. See the Ando Money website for more details. 

Key Features Of Ando Money

Minimum Deposit$0
Monthly Fee$0
Overdraft FeeNone
Card Replacement Fee$4.95
Cash Back1.5%
APY On SavingsUp to 5%
Early Direct DepositYes, up to 2 days early
Bill PayYes
ATM AvailabilityOver 34,000 fee-free ATMs in the Money Pass Network
FDIC Certificate57129

Ando Money has several features you might find helpful.

Mobile Banking

Ando mobile banking

All of your banking with Ando can be done through the Ando app, which is available for Android and iOS devices.

You can check transactions, make transfers and monitor your account at any time. 

In addition, Ando has instant alerts that notify you whenever there is activity on your Ando account. This way, you can be kept in the loop and help ensure your account stays safe. 

You can even use the app to freeze your debit card if you are worried about unauthorized activity. 

If you don’t have a mobile device, it’s possible to access your Ando accounts on your desktop PC, laptop or tablet as well. 

Cash Back Debit Card

Ando cash back debit card

Ando Money’s Visa debit card offers 1.5% cash back on every debit card purchase. 

The company’s Terms and Conditions page says there are no limits to the amount of cash back you can earn, making it a great rewards debit card.

Generally, the cash back percentage applies to every purchase, regardless of the store or merchant. However, some exceptions include person-to-person transfers, ATM withdrawals and OTC withdrawals.

Keep in mind that Ando does have the authority to revoke the cash back benefit if your account is not in good standing. 

Early Pay

Ando Money early pay

As with many other neobanks, Aldo Money works to get your direct deposit funds to you up to two days early. 

There is no additional charge for this feature, but it’s important to note that not all Direct Deposit funds will be available early. 

Ando Money Savings Account

Ando money savings account

The Ando Money savings account has a $0 minimum balance, no monthly service fee and pays up to 3x the national average interest rate for savings accounts. 

Ando sometimes runs interest rate specials on its savings accounts as well. 

For instance, you may be able to earn a bonus savings rate if you refer a friend that opens an Ando Money account.

Ando Money interest rate specials can change and come with other terms and conditions. See the Ando website for more information. 

Savings Roundups

Ando savings round up

When you open a savings account along with your Ando Money checking account, you can take advantage of the roundup feature. 

Just enroll in the Count the Change program. Then, Ando will automatically round up every debit card purchase you make and put the money into your savings account. 

Bonus: The more money you have in your savings account, the more of an impact on the environment you can help Ando Money make.

Pay Friends

Ando pay friends

You can easily make transfers to friends, family members and coworkers that have Ando Money accounts. 

This is a great feature for if you all go out to dinner, are going in together on a gift or sharing a vacation. 

The bank doesn’t charge any fees for peer-to-peer transfer transactions. 

Referral Programs

Ando often runs referral programs. Depending on the program, you may receive a higher interest rate on your savings account or a cash bonus when you refer a friend. 

Most referral bonuses are paid out after your new referral signs up using your referral link, makes at least five debit card purchases and has at least one qualifying direct deposit into their account. 

See the Ando Money website for more information about referral bonuses and requirements since they rotate and change regularly. 

Ando Money Reviews

Ando Money is a new neobank, so it’s not yet listed on Trustpilot. However, it does have reviews from users on the various app stores.

Apple App Store

With 87 ratings so far, Ando Money earned 4.1 out of 5 stars on the Apple App Store.

While most of the reviews were positive, some users complained about account limitations and issues with customer service.

Here are some reviews from users:

“Ando app is extremely easy to use and tracks my personal impact on the environment. Included in the app is the ability for peer to peer payments that are instantaneous…and don’t require logging into a separate app to transfer funds.” – BC – San Diego Whale

“Apparently this “bank” cannot handle people who have money. There is a $20,000 per month deposit limit, after funding my account I’ve now got a month of direct deposits failing to process to look forward to.” – Tbone city

“Ando is easy to use, and you can actually start seeing your impact on the environment as you invite more friends. Transferring money was easy, and paying people with Ando is a breeze.” – coachyardley

Google Play

Ando Money earned 3.8 stars out of 5 with 318 ratings on the Google Play Store.

Most users had great things to say about the bank, but complaints included problems with customer service and issues with how the app functions.

Here’s feedback from a few app users:

I’ve had Ando less than a week, & I can already tell I will love it! I love the referral program! I’ve made a very good amount so far! I can’t wait for my debit card to get here so I can start using my account!” – Alexis Hanna

“Their customer service agents know nothing and barely can read a script. As for early direct deposit, don’t count on it.” – Victor Trammell

“It’s a cool app, just don’t like the minimum cash out is $20, should be $5 increments.” – James Bollin


Before you sign up for Ando Money, here are some frequently asked questions to help you figure out if it could be a good solution for you.

Does Ando Money offer joint accounts? 

No, Ando Money does not offer joint accounts at this time. Additionally, you cannot get a secondary debit card for your account

Can my teen open an Ando Money account? 

You must be 18 years of age or older to open an Ando Money account. 

Where can I use my Ando Money debit card?

You can use your Ando Visa debit card anywhere in the world where Visa is accepted.

What customer service options does Ando Money offer?

You can reach Ando Money’s customer service center seven days a week by calling 1-844-960-3939 9 a.m. to 9 p.m. EST. This number is toll-free.

You can also email 

Can I pay my bills with Ando Money?

You can pay your bills with Ando Money by using its direct debit feature or sharing your Ando account number and routing number with your billers. 

In addition, you can request Bill Pay checks through Ando Money once your account is at least 30 days old.

Is Ando Money safe?

Yes, Ando Money is FDIC insured up to $250,000 through its partner bank, Community Federal Savings Bank. 

Furthermore, since they partner with Visa for their debit card, Ando Money offers Visa’s Zero Liability protection. That means you won’t be responsible for any unauthorized debit card purchases.


Ando Money provides a host of attractive banking features such as early direct deposit, a free Visa debit card and a no-fee savings account.

Better yet, when you bank with Ando, you support an institution that uses your money to make targeted investments in socially responsible companies. 

Banking with Ando is one way you can effortlessly contribute to a greener environment while improving your finances.

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