Frequently asked questions
What types of transfers can I make online?
You can make the following types of transfers online. In some instances, account limitations may apply.
- One-time or recurring transfers from an external bank account to your eligible Ameriprise accounts
- One-time or recurring transfers from your eligible Ameriprise accounts to an external bank account
- One-time or recurring transfers between your eligible Ameriprise accounts
Are there fees for transferring money online?
There are no fees to transfer money online, unless you exceed the transaction limits on an Ameriprise Bank, FSB savings account. However, there may be tax penalties when you transfer money between qualified (i.e., IRAs or other IRS-acceptable qualified accounts) and non-qualified accounts in non-qualified ownership. Be sure to talk with your financial advisor and tax specialist before making these types of transactions.
Ameriprise Bank Savings Account: The 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 or bill payment 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.
Can I use the online money transfer service to pay bills to third parties?
Our online money transfer service can be used to transfer money between your eligible Ameriprise accounts and external bank accounts. To pay third-party bills online, you may enroll in the free Online Bill Pay service available through the Ameriprise ONE® Financial Account.
What types of external accounts can I link to my Ameriprise accounts?
You can authorize checking and savings accounts from financial institutions located in the United States.
How do I add an external bank account to transfer FROM or TO?
You can add external bank accounts from the Manage External Accounts tab by selecting Add External Account. You'll be asked a brief set of questions. If your responses align with the Ameriprise online ownership guidelines, you will be prompted to proceed online. To authorize a third-party bank, please contact your advisor or call customer service at 800.862.7919.
Why is there a 3-business-day hold period on transfers to newly added or linked external accounts?
For your security, distributions, withdrawals or transfers to newly added or linked external accounts may be subject to a 3-business-day hold period for validation purposes in addition to other applicable holds and cut-off time.
If you need a distribution from your Ameriprise account prior to that time, please work with your advisor or call customer service at 800.862.7919.
Why do I have to add my external bank account multiple times?
To help safeguard your accounts, some external bank accounts must be authorized for each Ameriprise account you want to transfer money to or from.
Why aren't all of my accounts listed?
There are several reasons why some of your Ameriprise accounts or external bank accounts may not be listed in the TO/FROM drop-down menu; some of the most common are listed below.
Most common reasons:
- The product or ownership in which your Ameriprise account is set up is not eligible for online transfers
- You are not listed as an owner on the Ameriprise account
- The account does not contain sufficient funds
- The type of transfer you are requesting is not available
To view a detailed explanation for your specific accounts, select "Why don't I see all of my accounts?" next to the TO/FROM drop-down menu.
Are there limits to how much I can transfer online per day?
Yes. The following limits apply:
- For online transfers to your Ameriprise accounts, the per-day limit for all transfers combined is $1,000,000.00.
- For online transfers from your Ameriprise accounts to external accounts, the per-day limit for all transfers combined is $250,000.00 or the available cash balance in your accounts, whichever is less.
- The per-day limit for online transfers between Ameriprise® Cash Reserve Certificates and Ameriprise brokerage products is $250,000.00 or the available cash balance in your accounts, whichever is less.
If you need to transfer more than the online limits allow, contact your advisor or Customer Service at 800.862.7919 for assistance.
How long does it take for the money to transfer?
Transfers are generally complete within 1-3 business days. If transferring money to an external bank account, the money will appear in your external account after the receiving institution has posted it to your account. The amount of time this takes can vary from institution to institution.
How do I view and edit a scheduled transfer after it is set up?
You can view and edit pending transfers in View Scheduled Transfers. To edit a transaction, select Edit or Remove. If a link does not appear, the transfer is already in process and cannot be edited or canceled.
Can I transfer money online if I am an authorized fiduciary on an account?
Currently, online money transfers are only available to account owners. Trustees may also be able to transfer money online on behalf of trusts. To transfer money as an authorized fiduciary, please call Customer Service at 800.862.7919.