AMP Saver Account

Takes such a long time to open an account online no way should take that long any other bank can open an account straight away obviously AMP don’t want my business I’ve now gone with another bank where I can open straight away and no hassles

I am currently overseas, I advised AMP before I left, Even so, they have stopped me accessing the money in my accounts. I have sent 2 messages via online banking and had an online chat, following giving all information again was told would have… Read more

access next day. That was 4 days ago still no access to my money. lodged a complaint, 4 days ago no response. Its now friday pm for all they no I could be on the street for the weekend. They keep giving me 13 numbers to phone which i cannot do as i am overseas. Found a number to phone but it seems to relate to super only.

Avoid saving in this account especially if you want to use it regularly. You need to work out the net savings by deducting interest earned in the past, etc. it is too complicated. We lost more than $3000 bonus interests last month.

One of the worst customer service, without account holder consent AMP bank put on the restrictions to account. Since 3 weeks on constant calling and following up still not resolved. How can they just change without the account holder consent.

MOVING TODAY – The new terms and conditions commencing Feb 1st are not good at all will be moving my monies elsewhere very quickly. I believe its $250 grow each month plus the interest earned from the month before. JUNE 2025 I returned after enjoying some extra interest with some other place. I suppose it is a savings account and i should be saving Show reply

I think AMP savings is great! – I find the AMP savings account to be great. It gives 5.4% interest. The only condition is saving more than $1000 each month, and they give you this 5.4% interest up to $250,000. I think their interest rate is the second highest after ING, but ING requires a regular account linked to your savings, and that regular account needs to have a certain… Read more ·  1

amount deposited and five transactions to get the bonus interest. Plus, ING gives bonus interest only upto 100k. AMP's requirement is simple: just deposit more than $1000. I normally don't review, but after noticing some negative reviews, I am giving my honest review. I think the AMP saver is awesome, and I have been super happy with their interest rate.

I know being able to deposit $1000 is not easy but isn't that why they have simple requirements. Also some banks provide bonus high interest only for short period.. AMP doesn't have the confusing condition either. I find AMP saver is clear from the beginning and applied higher interest rate when the interest rate went up which I was even happier.:) all banks have positive and negative points with their products, I think we need to choose a right product in our situation and when out circumstances are changed, better to switch the product as well even though it requires some work.

Competitive Rates with Easy, Hassle-Free Internet Banking – The AMP Savings Account offers a competitive interest rate, making it an attractive option for a basic savings account. To earn the highest rate, you only need to deposit at least $1,000 monthly. The account allows for unlimited withdrawals, and you'll continue to earn the bonus interest rate as long as your balance remains under $250,000. One… Read more ·  1

of the standout features of this savings account is its ease of use and accessibility. The online portal provides 24/7 access to your funds, and I've personally found the account to be user-friendly and hassle-free over the three years I've had it.

Customer service has also been a positive aspect of my experience. Whenever I've needed to contact AMP customer service, my calls have been promptly answered, and the consultants have consistently demonstrated a friendly, efficient, and helpful demeanour.

Another convenient feature is the ability to link this savings account to a transaction account, allowing for seamless fund transfers. The process of opening term deposits with AMP is also straightforward, with the option to instantly transfer funds from your savings account.

Overall, I'm highly satisfied with the AMP Savings Account and would recommend it to anyone seeking a competitive, user-friendly, and well-supported savings solution.

Finally age 65 and I thought whoopee! Finally I can get my hands on some of that retirement fund I’ve been saving for all those years. Little did I know that AMP has other ideas. After days of passport photos, selfies, bank statements, proof of address I get an email saying they can’t verify my identity and I need to go see a lawyer or a… Read more

magistrate. I think I might need to hire a bloody lawyer to get some of my money back. I wish I could give these fraudsters no stars at all.

If they can rip me off for the little money I do have, I can only imagine how they are doing-over those with huge accounts. Do not trust AMP. Do not trust them to call you back, do not trust them to give you the correct interest, do not trust them to do the right thing. Do. Not. Trust. Them. With. Your. Money.

AMP Go Android App technical bugs on signing up. The sign-up process has an error when getting to the checking credentials stage in App when entering driver's licence details and then attempting to access the camera to photograph a new customer's driver's licence. The App was granted permissions to access Android 11 camera, but the app crashes… Read more

without explanation every time. New members are unable to complete sign up so have lost all their private data, and still cannot complete opening their account - the worst of both worlds! Toytal IT App design fail.

I was attracted to the AMP Go account as it has no international conversion fees. It also has a linked savings account that currently pays 4.85% with no hurdles. No tricks! Opened several months ago. All app based. Process was fairly straight forward. Easy to use. Informative. Notifies me when money arrives or leaves. Only negative is… Read more ·  1

you can't have a joint savings account or joint transaction account unless each account holder also has their own transaction account.

First time I have banked with AMP and impressed so far. Happy to get rid of bonus interest accounts with tricky conditions. Again, earn the full rate with AMP Go with No tricks.

I setup an AMP Go Save account without any issues. The app is well designed and the incoming payment from another bank was processed instantly. This is the future of banking - get used to it. The days of being able to visit a branch and/or speak to bank staff on the phone are almost over. AMP Go also called me prior to the transaction taking… Read more ·  1

place to ask security/fraud related questions. I welcome that policy because it shows that they actually care about their customers' financial security.

One of the worst customer service experiences I’ve ever come across. I’ve been chasing AMP Bank to resolve an issue with my interest deduction, but there has been no positive response. Every time I contact them, I’m told that “someone will call me back” — yet no one ever does. It’s extremely frustrating and disappointing that a bank of this size… Read more

doesn’t even have the basic decency to keep their customers informed about when issues will be resolved or to return calls as promised.

shocking customer service, unorganised, and they kept lowering my interest rates without informing me. would give 0 stars if I could. I changed because of a slightly higher interest rate, but like I stated they kept changing the rate so I lost out in the long run. When I tried to change back to commonwealth bank they tried to make it as difficult… Read more

as possible telling me they would call me back when they were able to transfer my funds, but never did. Just go with a reputable bank like commonwealth bank and save yourself the headache. Now I have removed my funds, they keep randomly calling me up. when I called them back I was on hold for 25 minutes and the person I spoke to didn't know why I got a missed call she said she would look into it and call me back, and you guessed it I never got a call back. I didn't want to waste anymore time with this but it's just ridiculous and I keep hearing similar things from other people so I felt I should warn others.

SHOCKING CUSTOMER SERVICE who lie through there teeth about interest rates! Beware of the super saver bonus rate of 4.7% amp use very sneaky tactics. Term and conditions require building balance by $250, not including interest earned. However if interest taken out and you increase balance by $250 only you will only receive .5% interest the following month. SCAMMERS !

Can't process a loan discharge after a month. These muppets are the most incompetent group of useless monkeys I've ever dealt with. Avoid these idiots and do your banking anywhere else.

POOR TECHNOLOGY – Iam trying to open up a personal savings account online and i put in my ID it says it can not recognise it therefore i need to do a paper id check and need to get a certified ID and then have to post it. so this will take 1 week or more before my account is set up. I cancelled the application and used my passport for id verification, same issue… Read more

again, Cancelled this app and tried for the 3rd time using another form of ID. No surprise, and this did not work either. So ditched it and went to another bank. 5 minutes with this bank ,later my new savings account was opened and my ID's were all succesfully verified online. If they, amp, cant even get their technology right what hope is there for customer service. On that point, i am an existing customer thats why i went with them in the first place, despite customer service being terrible.

I agree with both Katya (1 star) and Alain (5 stars). To explain: Like Alain: Until now I have found the website and app quite easly to use. They lack a bit of functionality - post-dated BPay but generally good. And there was that very attractive deposit rate and reasonable TD rates too. Like Katya: AMP just ripped us off with a very sneaky… Read more

piece of advice about the change to the basic nature of the account. It was a conventional savings account with just one condition - min 1k deposit - and a good interest rate. But now, since 1 February, although it was not stated clearly in the ban's advice it has become an account where you only get meaninful interest if you keep increasing your end of month balance. Otherwise we monkeys only get peanuts.

I had been recommending AMP to others and commenting how its resurrection was proceeding ok. Now I can't see any reason to deal with a bank that treats its customers so deceitfully.

Avoid this bank at all costs!! I lost over $1000 this month in interest because of the horrible and highly confusing changes. As a retiree, I rely on this to live and pay my debts! I had direct debits and was thinking because I was depositing so much into my accounts every month my maths and my elderly brain didn't compute correctly but it's way… Read more

too confusing. Will be transferring all my funds over to two other banking institutions which offer even higher interest and no complicated and punishing terms and conditions. Have not even heard back AMP after lodging my complaint about a week ago. Terrible customer service too. Good riddance AMP!

Have been ripped off by AMP bank with these changes 1st Feb2025. No satisfaction with complaint process so it has now gone to AFCA. Hopefully they will have this rectified. AMP should be investigated by the Federal Police over their actions.

Meerkat, I agree with you. The same thing happened to me and for our savings which we too depend on, i inadvertenly did the same thing by having a direct debit regular payment come out which meant that the interest i earned dropped from 5.10% to 0.75%, this was equivalent to a loss of $700 in interest for the month. I am sick and tired of having… Read more

to jump through hoops to get the interest with AMP bank saver. I have transferred my money to macquarie bank at 4.95% without having to monitor my deposits and withdrawals with military precision to get the bonus rate of 4.20% on the standard rate of 0.75%.

To add insult to injury i applied for an increase in the amount i could transfer to macquarie bank as i was doing it via online portal, it takes 3-5 working days for them to call you, and apparently the purpose of the call is to check it is you that requested the online increase on the portal. Once they have spoken to you it takes up to another 3-5 working days to make the change. A total of up to 10 days for a simply increase online on the daily transfer. A company who prides themself on technology this is a joke.

They dont care about customers, all they care about is their bottom line and keeping your money for as long as possible so they can earn the interest and pay you peanuts.

Horrendous communication, unprofessional service, lack of follow up. Requested loan discharge via designated channels, 10 days later requested follow up, 5 days after that requested 3rd follow up. Not once have I been contacted from AMP... completely useless and extremely unprofessional service

I took out a home mortgage and have a savings account with AMP for 8 years. This February 2025, they adjusted their conditions for the savings accounts, announced in a email on 31/1/25 titled 'Your AMP Saver is changing'. Like all emails, I scanned it, too busy to read word for word. Near the end of the month I moved funds and paid a bill from… Read more

this savings account where I inadvertently triggered a drop in interest rate from 4.94% to a low 0.75%. This led me to loose about $800 of interest earnings for the month! I feel such an update with the potential to cause significant loss of earnings should have been handled better. Like many customers, I actually depend on this interest income to live by. In comparison for all my other savings accounts I have with other banks, condition updates are rolled out with several reminder emails and messages online with screen alerts during funds transfers, warning me that I will initiate a reduction in interest if I proceed. These measures are some that one might reasonably expect from reputable banks. I no longer trust AMP and believe they don't treat customers with the requisite courtesy and fairness. I will move all of my funds to better banks and will not return unless some radical change/remedial action makes it worthwhile me to return. I'm seriously not holding my breath for this.

Avoid. AMP has a history of only focusing on the bottom line. They have absolutely no interest in the customer. ING, UBank, RABO and others have far better products and customer service.

The worst bank experience in my whole life.Just to transfer to an external account has turned out to be a nightmare calling them ten times and they ask you all the questions to identify you and than can't be done,nothing happens, sending the form to raise the transfer limit no reply. stay away people from F amp!!

AMP BANK has stuffed up a Good if Not the Best Savings Account in Australia and Destroyed it.... Now We know Why they keep going Backwards... Who ever did this or group of Managers should all be sacked asap by the share holders or whoever is in charge as i have already spoken to them and told them what a huge mistake you are making and people will… Read more

go elsewhere. I withdraw my $90,000 left in my account and gone to Macquarie Bank. I really liked the old style system they had in place but this is new system does not work for me. Macquarie starts you off with 5.1% with no strings attached while AMP starts you off at 0.75% than after 1 month to 4.95% if you dont play by their new rules. I had a big bill to pay, a new car for myself as gift to me and this is why i will only get 0.75% for my saving while all my pay is direct debit to this account which is still not good enough for AMP. Had this account for 2 years. Hope CEO from All Banks read this and have a Good laugh/cry at AMP....Bye Bye.

I wholeheartedly agree with the recent reviewers who were very critical of the changes implemented in Feb 2025. I must admit I did not read the detail of the changes at the time, assuming (stupidly) that in effect themain change was to lower the monthly deposit amount from $1000 to 250. Well, of course, this turns out not to be the case. A couple… Read more

of days ago I was checking my account online and happened to notice that my interest rate was 0.75%, when I expected it to be 4.95% (under the old rules). Strange, I thought, and on further investigation I discovered what the Feb changes were really about. So I wasn't prepared to go a whole month with effectively no interest from AMP (it otherwise would have been hundreds) and I have transferred pretty much all of my funds elsewhere to earn a reliable rate of interest without having to jump through all kind of hoops with AMP.

Up until recently, I and my wife, with her separate account, used our AMP accounts for pretty much all of our banking. Pensions and other funds were paid in regularly and expenses and other outgoings were all processed via the AMP accounts. Now this is impossible, as this kind of activity renders the account effectively interest-free. This places AMP at a serious disadvantage to all of its competitors.

I don't know what they were thinking (shouldn't have listened to the work experience kid), but I would expect that these changes will lead to a serious reduction of funds placed with the AMP Bank. Effectively, what they are offering is a savings account that does not allow withdrawals without a huge penalty. Good riddance I say.