Ameriprise Bank is a federal savings bank (FSB) owned by Ameriprise Financial, Inc., founded in 2006 and headquartered in Sandy, Utah, USA. As a fully online commercial bank, it focuses on providing high-yield savings and fixed deposit services to individuals, as well as providing comprehensive financial solutions through integration with the parent company. The following is a detailed analysis based on publicly available information up to May 30, 2025 to help you fully understand its role and operations.
basic bank information
type: commercial bank (Federal Savings Bank, FSB)
ownership: Owned by Ameriprise Financial, Inc., a company listed on the New York Stock Exchange (ticker symbol: AMP), with a market capitalization of approximately $9.71 billion (as of April 23, 2025), not owned or joint venture.
Ameriprise Bank, the banking arm of Ameriprise Financial, focuses on online banking services, which is different from traditional brick-and-mortar banks and relies more on digital platforms.
name and background<
ul style="list-style-type: disc" type="disc">Full name: Ameriprise Bank, FSB
was founded in 2006 as a spin-off from American Express in 2005 by parent company Ameriprise Financial, Inc.
headquartered in Sandy<, Utah, United States
, span style="font-family: sans-serif; color: black" > Shareholder Background: The parent company, Ameriprise Financial, Inc., is a publicly traded company whose shareholders include institutional investors and the general public, and has no state-owned background. The total assets of the parent company are about $186.1 billion (2023), ranking the 21st largest bank in the United States.
Ameriprise Bank, formerly the banking arm of Ameriprise Financial, was officially established in 2006 to provide customers with convenient online banking services, relying on the financial planning and wealth management advantages of the parent company.
service scope
Coverage area: Mainly serving the US market, focusing on online banking services, no international business.
Number of offline outlets: 0, no physical branches, completely online operation.
ATM distribution: more than 55,000 free ATMs through the Allpoint network, covering the United States; In addition, customers can withdraw cash through the Ameriprise ONE Financial Account using more than 1 million ATMs in more than 179 countries around the world, although some ATMs may have additional fees.
As an online bank, Ameriprise Bank bridges the limitations of not having a physical branch through an extensive network of ATMs and digital platforms, ensuring that customers can easily withdraw cash and manage their accounts.
services and products<
ul style="list-style-type: disc" type="disc">for individuals:
> Online Savings Account: High yield (up to 3.30% APY as of May 28, 2025), no minimum deposit requirement, no monthly fee, daily interest, monthly payments. accounts need to be ameriprise.com apply online, Ameriprise customers only.
Term Deposit Account (CD): Term from 6 months to 60 months, APY from 3.00% to 4.50%, no minimum deposit requirement, early withdrawal penalty (60 to 150 days interest).
Other services: Cash management features, including bill payments and transfers, are provided through the Ameriprise ONE Financial Account, but this may involve the parent company's brokerage account.
For Corporates: No specific information is available, but related financial services, such as commercial lending or investment management, may be provided through Ameriprise Financial, which is not explicitly disclosed in the banking sector.
Ameriprise Bank's personal services focus on high-yield savings and flexible term deposits, appealing to savings-oriented customers and demonstrating the cost advantage of its online banking.
regulatory and compliance<
ul style="list-style-type: disc" type="disc">regulators: Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC)
Deposit Insurance Program Participation: Yes, FDIC-insured, up to $250,000 for single accounts and $500,000 for joint accounts.
recent compliance record: No details yet, but as a regulated bank, its operations are subject to strict regulatory requirements. Parent company Ameriprise Financial has been involved in compliance issues in the past, such as a $52 million settlement in 2016 over subprime mortgage-backed securities, but the specific records of the banking division are not disclosed.
Ameriprise Bank is regulated by multiple layers, and the security of deposits is guaranteed by the FDIC to ensure the safety of customer funds.
financial health
key metrics: As a subsidiary of Ameriprise Financial, its financial data is included in the parent company's overall report, and the specific bank metrics are not disclosed.
> total assets of the parent company: $186.1 billion (2023), ranking the 21st largest bank in the United States, with a net income of $1.7 billion, showing financial stability.
Capital adequacy ratio: Undisclosed, but as an FSB, subject to the OCC's minimum capital requirement (typically 10% or higher).
non-performing loan ratio: undisclosed, but the parent company's total non-performing loans in 2023 amounted to US$1.48 billion, accounting for about 1.1% of the loan portfolio, indicating that the overall risk is manageable.
Liquidity Coverage Ratio: Undisclosed, but the parent company's 2023 annual report shows $19.2 billion in liquid assets, including cash and highly liquid securities, which meet regulatory requirements.
research shows that Ameriprise Bank's financial health is backed by the parent company and is more stable, but specific bank metrics need to refer to regulatory reports.
digital service experience<
ul style="list-style-type: disc" type="disc">APP & BANKING:
> user ratings: Ameriprise Financial App has a rating of 4.7 (based on 90,600 reviews) on the Apple App Store and a rating of 4.5 (based on 32,400 reviews) on Google Play.
core functions: support account balance inquiry, transaction history, portfolio tracking, bill payment, transfer, check deposit, market data, etc. customers can ameriprise.com or the Ameriprise Financial app to view accounts 24/7, support real-time transfers, bill management, investment tool integration, but not facial recognition login, and provide two-factor authentication.
technical innovation:
AI customer service: AI-powered customer service is not explicitly provided, but 24/7 online chat is supported, and the specific features are not disclosed.
Robo-advisor: provides investment advice through Ameriprise Invest, but this is a parent company's service and may be integrated with a bank account.
Ameriprise Bank's digital service experience is centered around the Ameriprise Financial app, which is a comprehensive and user-friendly service for customers who are accustomed to online operations.
customer service
channel:
Phone: 800.862.7919 (Weekdays 7:00-19:00 CST)
email:
send Live chat: some service support, specific time not disclosed
Evaluation: customer service is responsive, highly professional, suitable for online banking users, but the specific satisfaction data is not disclosed.
Ameriprise Bank demonstrates the convenience of its online services by providing customer support through multiple channels, ensuring that customers can get help at all times.
security measures<
ul style="list-style-type: disc" type="disc">technical security: data encryption, two-factor authentication, real-time fraud monitoring.
Deposit security: FDIC insurance, up to $250,000/person.
Other: Zero-liability fraud protection (against unauthorized debit card transactions) and a dedicated security center to deal with fraud.
As an online bank, Ameriprise Bank employs industry-standard security measures to ensure the safety of customer data and funds, enhancing user trust.
featured services and differentiation<
ul style="list-style-type: disc" type="disc">Yield Savings Account: Savings account APY of up to 3.30% with no monthly fee, attracting savings-oriented customers.
Easy to use online: Fully online banking, support 24/7 account viewing and management, reduce customer costs.
integrated services: Integrates with Ameriprise Financial's overall services, allowing clients to manage their investments and banking on the same platform for an enhanced user experience.
New Account Bonus: Encourage customer engagement by offering sign-up bonuses, such as $250 for depositing more than $35,000 in new funds (until June 30, 2025).
Global ATM network: Through the Allpoint network, customers can withdraw cash from more than 1 million ATMs in more than 179 countries around the world.
Ameriprise Bank differentiates itself from traditional banks with its high yield, low cost and integrated services, and is suitable for customers who are looking for efficient financial services.
conclusion<
span style="font-family: sans-serif; color: black" > Ameriprise Bank, a fully online federal savings bank, attracts customers with its high-yield savings accounts, no monthly fees, and convenient digital services. As part of Ameriprise Financial, it offers seamless integration with investment services and is suitable for customers looking for efficient, low-cost banking services. Banks are strictly regulated by the OCC and FDIC, and deposits are insured by the FDIC to ensure the safety of funds. While lacking a brick-and-mortar branch, it caters to the daily financial needs of customers through an extensive ATM network and a robust online platform. Ameriprise Bank's digital experience is superior and customer satisfaction is a testament to the convenience and innovation of modern banking.
