Ameriprise^® Bank Savings Account FAQs

The Ameriprise Bank Savings Account is an FDIC insured,¹ digital savings account offered in individual, joint and payable on death ownership categories.

Features of the savings account include:

• Fully digital account that you interact with through secure site and the Ameriprise Financial app²
• Service and support available from the Ameriprise Bank Customer Service Center

• Easy application through the secure site on ameriprise.com
• A pre-populated application with your data for a seamless customer experience
• Minimum opening deposit of $100
• No monthly maintenance fees³
• Deposit or withdraw funds from this savings account using ACH transfers, internal Ameriprise transfers to and from other eligible Ameriprise accounts, domestic wire transfers, or by requesting an official check⁴
• Competitive Annual Percentage Yield (“APY”) compared to other large national banks

Yes, the Ameriprise Bank Savings Account is FDIC insured¹ up to applicable limits. For information about FDIC deposit insurance, please visit FDIC: Your Insured Deposits.  

The Ameriprise Bank Savings Account is a valuable solution for those who:

• Prefer the convenience of consolidating financial assets with one company  
• Want to have cash in an FDIC insured¹ account for safety and security
• Use secure site and the Ameriprise Financial app² and value the convenience of digital banking
• Hold cash to meet short-term needs, to build an emergency fund, or to hold cash for future investment
• Seek a competitive return on savings deposits

To apply for a savings account, you will need:

• To be at least 18 years of age or older
• To be a U.S. citizen or U.S. resident alien
• A valid Social Security number (SSN) or other taxpayer identification number (TIN) 
• A valid U.S. residential address, phone number, and email address

If you have questions, please call the Ameriprise Bank Customer Service Center for assistance at 800.862.7919.

The savings account application is easy to complete in just a few minutes. The application is located on the secure site on ameriprise.com. From the home screen on ameriprise.com, select Products > Banking & cash management > Ameriprise^® Bank Savings Account. Click the log in and apply button and log in to your secure site profile. Fill in the required fields to complete the application process. Once opened, fund the account with a minimum opening deposit of $100.

Note: You cannot open an account using the Ameriprise Financial app² but can use the app to maintain your account once it is established.

You can have up to six additional joint owners and they must be selected from within your existing household group(s). All account owners must be at least 18 years of age or older and meet account eligibility requirements.

Yes, savings account owner(s) may name up to five natural persons as payable on death (POD) beneficiaries. NOTE: Organizations, Trusts and Estates are not supported beneficiaries at this time. At the time of death of all account owners, the funds of the account will be allocated to the account beneficiaries in equal shares to all beneficiaries listed on the account, subject to our right to charge the account for any amount deceased Owners or POD beneficiary(ies) owe us or our affiliates. 

You simply login to their secure site account and visit the Beneficiaries Section located within Account Settings of your profile to add, edit or remove beneficiaries. Once on the Account Settings page, you will scroll down to the Beneficiaries section on the page.  Next, select ‘Go to Beneficiaries’ and follow the onscreen instructions to complete the required fields. Required fields are full name, relationship to account owner, address, date of birth, and social security number. 

Current rates are available at Ameriprise^® Bank Savings Account | Ameriprise Financial

Deposits up to $100,000 are allowed if you have an Ameriprise brokerage account, as part of your total mobile deposit daily limit across all Ameriprise accounts. Savings account customers without a brokerage account may deposit up to $3,000 per day to their savings account.

There are no monthly maintenance fees.³ Other service fees may apply such as an excessive transaction fee when you withdrawal more than 6 times in a month.⁴

You may access your account from anywhere using the secure site on ameriprise.com or on the Ameriprise Financial app.² You may also sign up for email and text alerts by making selections in your secure site account profile.

Please contact the Ameriprise Bank Customer Service Center for assistance regarding your savings account at 800.862.7919.

Withdrawals can be made by internal transfer to another eligible Ameriprise account, ACH to external account, domestic wire, or you can request an official check⁴ which will be sent by mail from Ameriprise.

No, the account does not provide a debit or ATM card. Withdrawals can be made by internal transfer to another eligible Ameriprise account or ACH to an external account. Additionally, domestic wire transfers and withdrawals by requesting an official check are available. Please see the Ameriprise Bank, FSB Deposit Accounts Consumer Pricing Disclosure for applicable fees for wires and official checks.

You can make deposits using mobile deposit on the Ameriprise Financial app.² Additionally, deposits can be made by ACH transfer from an external account, domestic wire, transfer from an eligible Ameriprise account or by mail using this Deposit Slip located on ameriprise.com.  Once your savings account is opened, you can designate it as a direct deposit account destination, for example through your employer payroll or social security direct deposit processes.

Deposits made by mail should be sent to:

70209 Ameriprise Financial Center, Minneapolis, MN 55474.

Note: To complete account opening, a minimum opening deposit must be made in a single transaction that meets or exceeds the minimum opening deposit requirement of $100.

External transfers - you can set up one time or recurring transactions between your Ameriprise Bank Savings Account and external accounts in secure site under the Transfers and Tools tab. Only ‘available funds’ can be transferred out of the savings account.

Internal transfers – You can set up one-time transfers between your eligible, nonqualified investment account and savings account. Only ‘available funds’ can be transferred between internal accounts.

No. Advisors cannot accept any form of funds to be deposited into your savings account. Deposits must be made by using one of the methods listed above. You can easily do a mobile deposit from anywhere by taking a picture of your check using the client mobile deposit tools in the Ameriprise Financial app.² For additional information how to do this please call the Ameriprise Bank Customer Service Center at 800.862.7919.