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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:August 30, 2024
The 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 by August 30, 2024
- $25,000 must be maintained in the account through February 28, 2025
The Fine Print
- To receive the $500 bonus (“Tier 1”), you must:
- 1) Deposit $25,000 or more in New Money (“Required Amount”) into your Ameriprise Bank Savings Account (“Account”) by August 30, 2024. “New Money” is money that is deposited into the Account directly from external accounts outside of Ameriprise Bank, FSB and its affiliates. Deposits made by internal transfers from any other Ameriprise accounts are not eligible for the Tier 1 bonus offer; AND
- 2) Through February 28, 2025, maintain a daily balance equal to or greater than your June 30, 2024 beginning balance plus $25,000 qualifying New Money. Withdrawals from the Account may affect your ability to earn the Tier 1 bonus offer.
- To receive the $200 bonus (“Tier 2”), you must:
- 1) Deposit $10,000 or more in New Money (“Required Amount”) into your Ameriprise Bank Savings Account (“Account”) by August 30, 2024. “New Money” is money that is deposited into the Account directly from external accounts outside of Ameriprise Bank, FSB and its affiliates. Deposits made by internal transfers from any other Ameriprise accounts are not eligible for the Tier 2 bonus offer; AND
- 2) Through February 28, 2025, maintain a daily balance equal to or greater than your June 30, 2024 beginning balance plus $10,000 qualifying New Money. Withdrawals from the Account may affect your ability to earn the Tier 2 bonus offer.
- You are eligible for only one of the bonus offers (Tier 1 or Tier 2); you cannot receive both.
- Offers are only available to existing Ameriprise clients as of June 30, 2024 who have not received a savings bonus in the past 18 months.
- You may make multiple deposits within the Offer Period to reach the Required Amount. To remain eligible, your Account must be open and in good standing at the time the bonus is credited to your Account. Limit one Bonus Offer per customer. A customer who is an owner of an individual Account and/or a primary owner of multiple joint Accounts will be limited to one Bonus Offer. If all Tier 1 or Tier 2 Bonus Offer requirements are met, the appropriate bonus will be credited to the Account by March 31, 2025.
- A $100 minimum deposit is required to open a new Account. The bonus will be reported as interest on IRS form 1099-INT and the recipient is responsible for any applicable taxes. Please consult your tax advisor; neither Ameriprise Bank, FSB nor its employees provide tax advice.
- Other restrictions may apply. We reserve the right to modify or withdraw this Bonus Offer at any time without notice. If we determine that you have engaged in or plan to engage in abuse, gaming or fraud in connection with this Bonus Offer, you will not be eligible for this offer.
Our Verdict
Terms state you can’t have received a bonus in the last 18 months. That would exclude you if you did the same bonus last year. Bonus is worse than last time though as you need to tie the funds up for longer. Best case scenario you deposit as close to August 30, 2024 and withdraw shortly after February 28, 2025 (~182 days, but more will be needed to be safe). This account itself earns 3.25% APY and with this bonus you get another ~4% annualized so works out to be 7%+. Better than other high yield options currently but also a bit of work for a somewhat marginal return.
Hat tip to Bockrr
