Ameriprise Bank Savings Account FAQ

The Ameriprise Bank Savings Account is an FDIC insured,¹ digital savings account offered in individual, joint and payable on death ownership categories. This digital savings account is integrated with the secure site on ameriprise.com and the Ameriprise Financial app and allows you to manage more of your financial life in one place with a single login.²

• No monthly maintenance fees³
• Deposit or withdraw funds using ACH transfers, internal Ameriprise transfers to and from other eligible Ameriprise accounts, domestic wire transfers, or by requesting an official check⁴
• Offers a Competitive Annual Percentage Yield compared to other large national banks,
• A minimum deposit of $100 is required to open an Ameriprise Bank Savings Account.

To apply for a savings account, you must:

• Be at least 18 years old 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 for assistance at 800.862.7919.

The online application is located on the secure site on ameriprise.com. 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.

Joint account holders must be selected from within your existing household group(s). Account holders must meet the same account eligibility requirements as the primary owner. Joint accounts are limited to a maximum of six owners.

Yes, savings account owner(s) may name up to five natural person beneficiaries. By adding a beneficiary, your account ownership category becomes payable on death (POD).

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

You can add, edit or remove beneficiaries on the secure site on ameriprise.com. Required information includes, but is not limited to, beneficiary full name, relationship to account owner, address, date of birth, and social security number. 

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

Current rates for the Ameriprise Bank Savings Account are available at ameriprise.com

You may login to your account on the secure site on ameriprise.com or the Ameriprise Financial app using your login credentials.²

Ameriprise Bank Customer Service Center is available from 7 a.m. to 7 p.m. Central time (CT) Monday through Friday at 800.862.7919.

Withdrawals can be made by internal transfer to another eligible Ameriprise account, ACH transfer to an external account, domestic wire, or by requesting an official check.⁴ 

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 check⁴ are available. Please see the Ameriprise Bank, FSB Deposit Accounts Consumer Pricing Disclosure for applicable fees for wires and official checks.

Deposit limits vary based on your Ameriprise Financial relationship.  Please see the Ameriprise Bank, FSB Deposit Account Agreement for details.

Check deposits can be made using mobile deposit on the Ameriprise Financial app, by mail (Ameriprise Bank, FSB, 70209 Ameriprise Financial Center, Minneapolis, MN 55474), ACH transfer from an external account, domestic wire, transfer from an eligible Ameriprise account, or direct deposit such as employer payroll or social security.²

Note: We do not accept cash deposits, and Ameriprise advisors cannot accept any form of funds to be deposited into your savings account. Please see the Ameriprise Bank, FSB Deposit Account Agreement for details. Deposits must be made by using one of the methods listed above. For additional information please call the Ameriprise Bank Customer Service Center at 800.862.7919.

External transfers - you can set up one time or recurring transactions between your Ameriprise Bank Savings Account and external accounts on the 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.