AMP Business Saver Account

With the AMP Bank Business Saver Account, Australian business owners have flexible access to their money with no monthly fees.

It's important to have flexibility in a savings account to manage your business cash flow. AMP provides this with its Business Saver Account with fast internet or phone transfers without any fees. There's no monthly minimum balance requirements, and your funds will also earn interest.

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Alison Banney

Last Updated Dec 30, 2020

0.5% p.a.

Maximum variable rate

0.5%p.a.

Base interest rate

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Product Name	AMP Business Saver Account
Maximum Variable Rate	0.5% p.a.
Standard Variable Rate	0.50%
Monthly Account Fee	$0
Minimum Opening Deposit	$0
Minimum Age	18

Pros

$0 monthly maintenance fee
Access your money through phone and internet banking
Earn an ogoing standard variable rate of 0.5% p.a.

Cons

Linked everyday transaction account required either with AMP or a different provider.

Review by

Alison Banney

alison.banney@finder.com

Alison Banney is the banking and investments editor at Finder. She has written about finance for over six years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.

Expert review

You are getting the benefit of a high interest savings account combined with the ease and access of a transaction account.

Key features

Earn an ongoing standard variable rate of 0.5% p.a.

Standard rate for all balances.

Interest calculated daily

Interest is calculated daily and paid into the account monthly.

No monthly fees

There are no monthly fees with this account.

Easy access to your money

You can access your funds around the clock using phone or internet banking.

No minimum deposit

There is no minimum opening balance requirement.

Linked to any account

Access your funds via a linked everyday transaction account either with AMP or a different provider, as long as both accounts are under the same name.

Business use only

This account is for business use only and can be used by a sole trader, partnership, company or trust (excluding SMSFs). For personal bank accounts offered by AMP, take a look here.

How to apply

Eligibility

Use of account. This account is for business owners, sole traders, partnerships or trusts (excluding SMSFs).
Residency requirements. The business that this account is associated with must be registered in Australia.

Depository requirements. There is no minimum deposit needed to open the account.

Documentation needed

Tax File Number. This will be necessary in order to ensure that the correct Australian tax amount is being deducted from any interest earnings.
Identification. You will need to verify your identity with a driver's licence or passport. This will also be required of any additional or joint applicants.
Business number. You may have to provide a copy of your Australian Business Number (ABN) as well as a copy of your business's search results from the ASIC database or a search of the relevant financial market.
Linked account. You'll need to provide the details of your linked transaction account.

What happens after I submit my application?

Once your application is received, AMP will verify the information provided before issuing you the details of your new savings account. This shouldn't take any more than five business days.

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6 Comments

Dellpark
March 9, 2018

How do I “easily apply online”? There doesn’t seem to be a link to an application form or page.

finder Customer Care

Jhez
March 28, 2018

Hi Dellpark,

Thank you for your comment.

Since our page does not indicate the link to apply for the AMP Bank Business Saver Account, we encourage you to please apply through their website directly. Search for AMP Business Saver Account and click apply online now. Please make sure that you’ve met the eligibility requirements before submitting an application.

Regards,
Jhezelyn

Kayla
August 20, 2017

Can the accounts link to xero accounting program?

Arnold
August 20, 2017

Hi Kayla,

Thanks for your inquiry.

This account can be accessed via a linked account everyday transaction account either with AMP or another provider, as long as both accounts are under the same name.

Hope this information helped.

Cheers,
Arnold

pat
February 16, 2016

i want to speak to a person re my business banking new account
Pat

finder Customer Care

Shirley
February 18, 2016

Hi Pat,

Thanks for your question.

AMP is available on 133 888 – finder.com.au is a third comparison service and has no access to your personal information.

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AMP Business Saver Account