Ameriprise Bank Certificate of Deposit Frequently Asked Questions

The Ameriprise^® Bank Certificate of Deposit is FDIC insured¹ and offered in individual, joint and payable on death account ownership categories. CDs are available in 3-, 6-, and 12-month terms, each paying a fixed interest rate for the term length providing predictability and security. At times, Ameriprise Bank may offer promotion terms and rates, please see Ameriprise Bank CD Rates for current information.

Features of the CD include:

• Easy to apply on the secure site on ameriprise.com.
• Once opened, view and manage your CD from the secure site on ameriprise.com or the Ameriprise Financial app.²
• Minimum opening deposit of $1,000.
• Automatic renewal unless action is taken during a 10-day grace period. 
• Any withdrawal before CD maturity will incur an early withdrawal penalty.³
• Service and support is available from the Ameriprise Bank Customer Service Center.

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

The Ameriprise Bank CD is a valuable solution for those who:

• Seek a predictable yield on deposits for a defined period of time. 
• Want to hold cash in an FDIC insured¹ account for safety and security.
• Value the convenience of digital banking and are comfortable using the secure site and the Ameriprise Financial app.² 
• Won’t need to use the funds during the term of the CD.
• Prefer the convenience of consolidating financial assets with one company.  

To apply for a CD, you must:

• Be at least 18 years of age or older and be a U.S. citizen or U.S. resident alien.
• Have a valid Social Security number or other taxpayer identification number and have a valid U.S. residential address, phone number and email address.

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

The CD 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 Certificate of Deposit. Click the Log in and apply button, then log in to your secure site profile and fill in the required fields. Once opened, fund the account with a one-time, minimum deposit of $1,000 or more.

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

Your joint account applicant must be selected from within your existing household group(s). Both joint account owners must be at least 18 years or older and meet the account eligibility requirements noted above.

Yes, CD owner(s) may name up to five natural persons as payable on death (“POD”) beneficiaries. At the time of death of all account owners, the funds of the account will be allocated in equal shares to all beneficiaries listed on the account, subject to our right to charge the account for any amount the deceased owner(s) or POD beneficiary(ies) owe us or our affiliates. Please see the Ameriprise Bank, FSB Deposit Account Agreement for more details.

NOTE: Organizations, trusts and estates are not supported beneficiaries at this time.

You can add, edit or remove beneficiaries by logging in to your secure site account > select your Ameriprise Bank CD > Manage Beneficiaries > Add a Beneficiary > Complete and submit the online form. Required fields include full name, relationship to account owner, address, date of birth and social security number.

Current rates are available at Ameriprise Bank CD Rates. Interest compounds daily and is paid to the account on the maturity date.

Eligibility for the Ameriprise Bank CD relationship rate requires $50,000 or more in household group balances including Ameriprise^® Bank Savings Accounts, Ameriprise Bank Certificate of Deposit accounts, Ameriprise^® Bank Checking Accounts, Ameriprise brokerage accounts and Ameriprise^® Certificate accounts (“Ameriprise Accounts”) as of the prior month-end statement ("Relationship Status Requirements").

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. Customers without a brokerage account may deposit up to $3,000.

NOTE: You may only make a deposit upon initial CD funding.

You will receive a letter 30 days prior to the CD maturity date alerting you of the approaching maturity.

At maturity and during the 10-day grace period (“Grace Period”):

• You may choose to take no action and let the CD automatically renew.
• Ameriprise Bank CDs automatically renew at the end of a term, unless you take action during the 10-day Grace Period. If no action is taken, the 3-month, 6-month and 12-month CDs will renew for the same term length at the current interest rate in effect on the maturity date. Current rates are available at Ameriprise Bank CD Rates.
• You may request a partial withdrawal or close the CD and transfer the funds to your Ameriprise Bank Savings Account, eligible brokerage account or another bank on file. You can also receive your funds by requesting that Ameriprise send you an official check. You must keep at least $1,000 in the CD after a one-time withdrawal.
• If you want to add funds, change the term or make changes to ownership you must close your current CD and open a new CD.
• The Grace Period begins on the maturity date of your CD. If the last day of the 10-day Grace Period is a non-Business Day, the Grace Period ends on the last Business Day before the non-Business Day. During the Grace Period you can make one-time withdrawal of all or portion of funds and/or close your CD without an early withdrawal penalty.

NOTE: You cannot add additional funds to your CD during the Grace Period, or at any time.

There are no monthly maintenance fees⁶ on the Ameriprise Bank CD. Early withdrawal penalties³ may apply if funds are withdrawn prior to maturity. 

If the withdrawal occurs after 10 days of opening a CD, the early withdrawal penalty will be 3 months of interest. If the withdrawal occurs within the first 10 days of opening a CD including the day the CD was opened, the early withdrawal penalty will be 10 days of interest. An early withdrawal penalty may reduce the principal balance. Early withdrawal penalties will be waived if a CD owner dies or is deemed to be legally incompetent by a court.  

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 CD 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 check which will be sent by mail from Ameriprise.

NOTE: Partial withdrawals are only allowed during the 10-calendar-day Grace Period. Penalties apply for early withdrawals and closing the CD outside of the 10-day Grace Period. 

You can make deposit using mobile deposit on the Ameriprise Financial app.^2,5 Restrictions may apply, refer to the mobile deposit question above.

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. 

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 $1,000.

No. Advisors cannot accept any form of funds to be deposited into your Ameriprise Bank CD. You can do a mobile deposit from anywhere by taking a picture of your check using the mobile deposit tool in the Ameriprise Financial app.^2,5 Restrictions may apply, refer to the mobile deposit question above. For assistance, please call the Ameriprise Bank Customer Service Center at 800.862.7919.