[Expired] Ameriprise Financial $500 Savings Bonus

Deal has ended, view more bank account bonuses by clicking here.

Offer at a glance

• Maximum bonus amount: $500
• Availability: Nationwide
• Deposit: $25,000
• APY: 3.25% APY
• Hard/soft pull: Unknown
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees: None
• Early account termination fee:
• Household limit:
• Expiration date: October 31, 2023

The Offer

Direct link to offer

• Ameriprise Financial is offering a $500 bonus when you open Ameriprise Bank Savings Account and complete the following requirements:
  • Deposit a total of $25,000 or more in new money into your new or existing Ameriprise Bank Savings Account from September 5, 2023 to October 31, 2023
  • $25,000 must be maintained in the account through December 31, 2023

The Fine Print

• Offer valid from September 5, 2023 12:00 am Central time (CT) to October 31, 2023 11:59 pm
  CT (“Offer Period”).
• To receive the $500 bonus (“Bonus Offer”), you must:
  • 1) Deposit $25,000 or more in New Money into your Ameriprise Bank Savings Account
    (“Account”) during the Offer Period,
    • “New Money” is money that is deposited into the Account directly from external
    accounts outside of Ameriprise Bank, FSB and its affiliates. For purposes of this
    Bonus Offer, direct transfers from Ameriprise® Cash Reserve Certificate eligible for
    transfer into the Account will be considered New Money.
  • 2) Maintain a minimum daily balance of $25,000 in New Money (“Required Amount”)
    through December 31, 2023 11:59 pm CT, and
  • 3) Maintain the Account balance reflected in your Account at 11:59 pm CT on September 4,
    2023 plus Required Amount in your Account at 11:59 pm CT on October 31, 2023
    through December 31, 2023.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has no monthly fees to worry about.

Early Account Termination Fee

As far as I can see there is no early account termination fee.

Our Verdict

You’ll want to deposit the funds as close to October 31 as possible and then withdraw them soon after December 31, 2023. Best case scenario you tie up the funds for 2 months. Unlike the cash management account bonus this one can be opened online actually have to mail the application in (although it looks like you can start on the phone and then finish online, more details in the comments). The account itself earns 3.25% APY and with this bonus it works out to be another 12% annualized for 15.25% APY total, although that is if everything goes perfectly and you also only get that return for a two month period. If you put the $25,000 into a 5% APY account you’d earn ~$208 with this bonus you’d earn ~$135 + the $500 bonus. We will add this to our best bank bonus page.

Hat tip to reader andrew

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times