We currently don't have a partnership for that product, but we have other similar offers to choose from (how we picked these
):
Our expert says
"The best thing about AMP's high interest savings account is it's really easy to earn the bonus interest. You only need to transfer $1000 a month into the savings account to qualify, even if you simply transfer that money from another AMP account. You can withdraw as much as you like, finish the month with a lower balance and there's nothing else you need to remember to qualify. I set up an auto-transfer from my offset account each month, so it's a great 'set and forget' money-earner."
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
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.
This savings account offers an ongoing total bonus variable rate of 5.2%p.a. if you deposit $1,000 (to be increased to $1000 effective 1 Feb 2023) into an AMP Saver Account in the previous month, with no monthly spend requirements to meet.
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.
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.
ATMs
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.
Bank@Post
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.
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
The pros
Bonus interest. The AMP Saver account offers bonus interest on your savings.
The cons
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.
Eligibility
You're over 18 years old
You're an Australian resident for tax purposes
You have an Australian phone number and residential address
Documentation
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
If you haven't found what you're looking for yet, you can compare a wide range of additional savings accounts and bank accounts from other providers with Finder.
Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving. She has written about finance for 10 years, having previously worked at Westpac and written for several other major banks and super funds. See full bio
Alison's expertise
Alison has written 625 Finder guides across topics including:
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.
The flexibility of terms with the AMP term deposit will make it easy to meet savings goals that are coming up in the next few years or in the near future.
I would like to open an account please. I have already been sent a Visa debit card.
Finder
AngusOctober 31, 2024Finder
Hi Leanne, We’re a comparison site, not AMP itself – if you want to open an additional account with AMP, you’ll need to contact the bank directly. The phone number for their banking division is 13 30 30.
BruceSeptember 16, 2024
Does this bank do cardless cash
Finder
RichardSeptember 17, 2024Finder
Hello Bruce I can’t find anything on AMP’s website that mentions cardless cash unfortunately.
Deposit to earn bonus to increase to $1000, is this to increase the balance every month or this amount can be withdrawn!
Finder
AlisonJanuary 13, 2023Finder
Hi Hong,
According to AMP’s site, you just need to deposit this amount per month. There are no conditions stated about having to keep the money in the account.
Thanks,
Alison
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I would like to open an account please. I have already been sent a Visa debit card.
Hi Leanne, We’re a comparison site, not AMP itself – if you want to open an additional account with AMP, you’ll need to contact the bank directly. The phone number for their banking division is 13 30 30.
Does this bank do cardless cash
Hello Bruce I can’t find anything on AMP’s website that mentions cardless cash unfortunately.
The rate of home loan how the rate of home loan
Hi, you can see ANZ home loan rates here: https://www.finder.com.au/home-loans/anz-home-loans
Deposit to earn bonus to increase to $1000, is this to increase the balance every month or this amount can be withdrawn!
Hi Hong,
According to AMP’s site, you just need to deposit this amount per month. There are no conditions stated about having to keep the money in the account.
Thanks,
Alison