Ameriprise ONE Financial Account Review
Ameriprise ONE Financial Account isn't available on Finder right now.
- Fee
- $25 per quarter
- APY
- N/A
- Minimum deposit to open
- $500
Our verdict
This brokerage-linked cash account offers checks, bill pay and high FDIC coverage, but you'll pay a quarterly fee unless you meet waiver requirements.
The Ameriprise ONE Financial Account is a brokerage account with built-in cash management features, offering checks, a debit card and bill pay. It's designed for people who already hold investments with Ameriprise. Its standout feature is FDIC coverage up to $2.5 million for individual accounts and $5 million for joint accounts, well above the $250,000 most banks offer and higher than most other cash management accounts provide. However, it requires a $25 quarterly fee that not everyone can avoid. You need to deposit at least $9,000 each quarter or maintain a $100,000 balance across your Ameriprise accounts to waive that quarterly fee. Plus, you can’t open this account online.
Best for: Existing Ameriprise brokerage clients.
Pros
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High FDIC deposit coverage
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Unlimited check-writing
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Bill pay with an on-time guarantee
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Fee-free access with Allpoint ATM network
Cons
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Quarterly maintenance fee (can be waived)
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No APY
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Can’t open online
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Not suitable as a standalone bank account
Who is the Ameriprise ONE Financial Account best for?
First, know that this is a cash management account (CMA), and it isn’t designed to be a standalone bank account. This account makes the most sense if you’re already an Ameriprise brokerage client, or plan to become one, and want a single account to hold cash and investments together. Because it’s a non-qualified brokerage account, you can also invest in equities, fixed income and mutual funds alongside your cash balance.
It’s a poor fit if you’re looking for a standalone checking or savings account, want to earn interest on idle cash or want to open an account entirely online without contacting an advisor.
What we like about the Ameriprise ONE Financial Account
This account has some decent perks that are worth calling out.
High FDIC coverage
Uninvested cash in the account can be swept into Ameriprise’s multi-bank program, which spreads deposits across program banks for pass-through FDIC insurance of up to $2.5 million per depositor — and up to $5 million for joint accounts. That’s up to 10 times the standard $250,000 FDIC limit at a single bank, and higher than what most other cash management accounts offer.
Unlimited check-writing
You can write checks to anyone for any amount up to your available cash balance, with no limits or minimums. And your first order of checks is free.
Bill pay with an on-time guarantee
Ameriprise’s online bill pay comes with an on-time payment guarantee and no limit on how many bills you can pay each month. You can receive electronic bills and set up one-time or recurring payments.
Broad debit card access
The Ameriprise Visa debit card supports contactless payments and major digital wallets (Apple Pay, Samsung Pay, Garmin Pay, Google Pay) and is accepted at more than 25 million locations worldwide.
You also get fee-free access to more than 55,000 Allpoint ATMs in the US, and access to over a million ATMs in 179+ countries (expect a 1% fee on transactions made outside the US, charged by Visa rather than Ameriprise).
What could be better
Compared to some other CMAs, this account isn’t perfect for everyone.
Quarterly maintenance fee
Ameriprise charges $25 per quarter (or $100/year). And while a fee isn’t unheard for a CMA, it still is another fee you have to consider.
You can waive the fee if you meet one of these requirements:
- You’re recognized as an Ameriprise Achiever Circle Elite member (household investment level of $500,000+ with Ameriprise)
- Your account has a direct deposit of at least $9,000 within the preceding quarter (Achiever Circle Elite status isn’t required for this specific waiver)
- The account has been open less than three months
- The account holds only annuities/life insurance policies or eligible alternative investments
- Your household group has already paid $300 in brokerage account fees for the calendar year
Separately, Achiever Circle status (a lower tier than Elite) is available once your household investment level with Ameriprise reaches $100,000, and comes with its own perks like partial ATM surcharge rebates.
Doesn’t earn interest
Unlike some other cash management accounts, the Ameriprise ONE Financial Account doesn’t pay interest on your cash balance. If earning yield on idle cash is a priority, compare it against high-yield accounts that do.
Can’t open online
You’ll need to call Ameriprise at 800-297-2012 or work with a local advisor to open an account — there’s no self-serve online application.
How do I open an Ameriprise ONE Financial Account?
- Go to Ameriprise’s site and select Find an advisor.
- Enter your ZIP code under Search by location and select Find advisors.
- Narrow your results by distance or area of focus, then hit Refine search.
- Compare nearby advisors using their individual Ameriprise profile pages.
- Contact an advisor using the details under the Connect with me section of their page, or call 800-297-2012 directly.
Compare Ameriprise ONE Financial Account with other cash management accounts
We currently don't have that product, but here are others to consider:
How we picked theseWhat is the Finder Score?
The Finder Score crunches over 300 checking accounts from hundreds of financial institutions. It takes into account the product's monthly fees, overdraft fees, opening deposit, customer support options, ATM network and features — this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of checking accounts against what we consider is the best option: no monthly fees, no overdraft fees, a large ATM network of 50,000 or more, additional features outside of typical banking services, and the optional perk of earning interest. Accounts that are nearly free to maintain and use are scored the highest, while accounts with costly fees and few features are scored the lowest.
Customer reviews and complaints
| BBB accredited | No |
|---|---|
| BBB rating | A+ |
| BBB customer reviews | 1.22 out of 5 stars, based on 27 customer reviews |
| Trustpilot score | 1.4 out of 5 stars, based on 54 customer reviews |
| Customer reviews verified as of | 24 July 2026 |
Reviews for Ameriprise vary by office location, and reviews for this specific account are few and far between. The Ameriprise Financial headquarters itself holds an A+ rating with the Better Business Bureau (BBB), but customer reviews lean negative.
Some customers complain of the requirement of paperless communications and statements, others report mismanagement and bad customer support, long customer support hold times or poor performance in investment services.
On Trustpilot, many customers report being pressured by advisors to invest more money, or just aggressive sales tactics in general. And similar to BBB, customers report poor experiences with advisors and customer service reps.
Checking account ratings
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We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.
Frequently asked questions
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Michael Finder
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