- Maximum rate: 1.16% p.a.
- Standard variable rate: 0.01% p.a.
- Monthly fees: $0
AMP savings and bank accounts
AMP offers a range of different bank accounts, including a unique three-in-one pay, spend and save bundled account.
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AMP savings accounts, bank accounts and term deposits.
Quick facts about AMP
- AMP has been operating in Australia since 1849
- AMP is a wealth manager that specialises in financial planning, investment, insurance, wealth generation and retirement products
- AMP operates in both Australia and New Zealand
- The AMP Bett3r account is a unique three-in-one bundled account that combined savings, spending and paying
Different accounts that AMP offers
AMP offers a range of different account which you can see in the tables above. Here's a few of the popular account options offered by the bank.
AMP Access Account
This is AMP's main day-to-day transaction account product. It has no monthly account keeping fee and no minimum balance requirement to meet. It comes with a Visa debit card which you can use anywhere Visa is accepted around the world, including for online transactions.
Read our full review of the AMP Access Account.
AMP Bett3r Account
This account goes one step further than a typical transaction or savings account. The AMP Bett3r Account comes with linked Pay, Spend and Save sub accounts. the Save account is where you keep your savings and earn interest, the Pay account is used to pay bills and regular payments and the Spend account is for your day-to-day transactions. The account is designed to help you budget effectively.
Read our full review of The AMP Bett3r Account.
AMP Saver Account
This savings account offers an ongoing total bonus variable rate of 1.16% p.a. each month you deposit at least $250 into your AMP Saver Account, with no monthly spend requirements to meet.
Read our full review of the AMP Saver Account.
AMP Term Deposit
You can open an AMP Term deposit with a minimum deposit of $5,000. You can choose a term length between 30 days and 5 years, and you'll earn a fixed interest rate for the length of your term.
Read our full review of the AMP Term Deposit.
Different ways to bank with AMP
AMP offers many different ways to do your banking.
AMP bank branches
AMP has around 35 bank branches in Australia, most of which are in Sydney and the other major cities.
AMP doesn't have it's own ATM network. It used to be part of the rediATM network, however it no longer is. While there are no AMP ATMs, you can use your Australian debit card at roughly 10,000 ATMs in Australia owned by Westpac, CommBank, ANZ and NAB for free.
If you need to deposit cash into your AMP account, you can do this at a participating Australia Post shop using Bank@Post. It's free to deposit cash into your account this way.
AMP Internet and mobile banking
AMP's Internet Banking platform is called My AMP. You can log in 24/7 to review transactions and balances, pay bills, transfer money between accounts and make BPAY payments. You can also view and download your statements and open new AMP deposit accounts.
The AMP app is free to download, and has a 2.5 star rating in the App Store and a 2.6 star rating in the Google Play store. You can do your day-to-day digital banking using the app, and set up alerts for when money goes into or out of your account. Id you have the AMP Bett3r Account, you'll see your linked Pay, Spend and Save accounts in the app.
AMP contactless payment options
AMP offers Apple Pay, Google Pay and Samsung Pay to customers with an AMP debit or credit card.
Pros and cons of banking with AMP
- Bonus interest. The AMP Saver account offers bonus interest on your savings.
- AMP Bett3r Account. The AMP Bett3r Account could suit you if you're looking for a linked savings, bills and spending accounts to help you manage your money.
- Offset account. You can use the AMP Bett3r Pay account as an offset account if you're got a home loan with AMP.
- Limited branches. AMP operates mostly online, with few branches in Australia available for customers.
- No ATM network. AMP doesn't have its own ATM network. However, you can access a Big Four bank ATM for free.
- Lower term deposit rates. The AMP Term Deposit rates are less competitive than some others in the market.
How to apply for an AMP account online
You can apply for a new AMP account online in less than 10 minutes. Just make sure you meet the eligibility criteria and have the necessary documents handy before you start your application.
- You're over 18 years old
- You're an Australian resident for tax purposes
- You have an Australian phone number and residential address
- Personal details like your name, date of birth, residential address, phone number and email address
- ID documents such as your driver's licence, Medicare card, passport or proof-of-age card
Are you looking for another AMP product instead?
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AMP Bank term deposit $100,000+
Earn a competitive interest rate on deposits over $100,000 and enjoy flexible term lengths with the AMP Bank term deposit.
AMP Bank term deposit $25,000+
With high interest rates offered in a variety of different terms, the AMP term deposit could be ideal for both short and long term saving goals.
AMP SuperEdge Saver Account
Let your excess SMSF savings work hard for you in a high interest savings account that still allows you to access your money whenever you need it.
AMP SuperEdge Cash Account
Give your SMSF an edge with a flexible account that keeps your money secure and earning interest while you are waiting for the next investment opportunity.
AMP SuperEdge Pension Account
Use your SMSF pension money wisely through an account that gives you unlimited free transactions to spend it along with interest to help keep it growing.
AMP Notice Account
The combination of a competitive interest rate and flexible terms make a Notice Account a high interest savings account worth looking into.
AMP Offset Deposit Account
Own your home outright sooner than you hoped by cutting interest payments every month with an Offset Deposit Account.
AMP Cash Manager
Spend and save from one convenient account that provides you with Visa power to make all of your daily purchases.
AMP Access Account
With AMP, you get an inexpensive and easy way to manage your spending as well as a safe hub to transfer money to your other interest earning accounts.
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