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Ameriprise® Bank Savings Account FAQs


What is the Ameriprise Bank Savings Account?

The Ameriprise Bank Savings Account is an FDIC insured,1 digital savings account offered in individual and joint 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
  • 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 check.4
  • Competitive Annual Percentage Yield (“APY”) compared to other large national banks
Is the Ameriprise Bank Savings Account FDIC insured1?

Yes, the Ameriprise Bank Savings Account is FDIC insured1 up to applicable limits. You can find more information on "Your Insured Deposits" via the following link to the insurance brochure on the FDIC site:

How do I know if a savings account is right for me?

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
What do I need to apply for a savings account?

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.

Opening an account

How do I open a savings account?

The savings account application is easy to complete in just a few minutes. The application is located on the secure site on From the home screen on, 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.

Who can I select as joint account applicants?

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.

Can I designate beneficiaries on the account?

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. 

How do I assign beneficiaries on my savings account?

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. 



What is the interest rate on the savings account?
What are the daily mobile deposit limits?

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.


Are there account fees?

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

Using My Account

How can I access my account?

You may access your account from anywhere using the secure site on 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.

Who do I contact if I need assistance or have questions about my savings account?

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

How do I make withdrawals from my savings account?

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.

Can I make withdrawals at an ATM?

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 Consumer Pricing Disclosure for applicable fees for wires and official checks.

How do I make deposits to my savings account?

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  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.

How do I make internal and external transfers once my savings account is open?

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.

Can I make a savings account deposit by giving a check to my advisor?

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.

Ameriprise Bank Savings Accounts are subject to approval. Other terms and conditions apply. The terms, conditions, fees and features of the Ameriprise Bank Savings Accounts may change. For terms and conditions of Ameriprise Bank Savings Account, please see Ameriprise Bank, FSB Deposit Account Agreement.
1For information regarding FDIC deposit insurance, please visit FDIC: Your Insured Deposits.
2Eligibility requirements and restrictions apply. Wireless, message and data rates may apply. Please refer to Ameriprise Mobile Deposit Addendum, Ameriprise Bank, FSB, Deposit Account Agreement and Mobile Deposit FAQ for information.
3For information about Ameriprise Bank, FSB, savings account fees, please see the Ameriprise Bank, FSB, Deposit Account Agreement and Consumer Pricing Disclosure.
4The number of transfers or withdrawals from an Ameriprise Bank, FSB savings account are limited to a total of six per monthly statement cycle (or each month if you have a quarterly statement cycle) from the following: preauthorized or automatic transfers, telephone or other electronic transmissions; online banking and mobile banking transfers. If the transaction limits are exceeded, fees will be applied, privileges on the account may be revoked or account may be closed. Please see the Ameriprise Bank, FSB Deposit Account Agreement and Consumer Pricing Disclosure for more details
Ameriprise Bank, FSB provides deposit, lending, and personal trust products and services to its customers, including clients of Ameriprise Financial Services, LLC. (“AFS”). Ameriprise Bank, FSB and AFS are subsidiaries of Ameriprise Financial, Inc. AFS financial advisors may receive compensation for selling bank products.
Neither Ameriprise Bank, FSB nor AFSI financial advisors are authorized to give legal or tax advice. For specific legal or tax matters, clients should consult with their own legal and/or tax advisors.
Ameriprise Bank, FSB. Member FDIC.
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