Your selected bank accounts
AMP is a leading wealth management company operating in Australia and New Zealand, with a rich evolving history spanning 150 years. Its growing banking business in Australia now includes a range of retail products such as home loans, savings accounts and term deposits.
Your selected bank accounts
Very helpful bank
Love this bank. No physical card so saving for me is easier as I don't have the option to get cash out. As an online bank account the interest is higher if you put a minimum amount every month. They also have just added osko payments and a higher Interest rate.
Terrible Security/Service Our Financial Advisor and Mortgage Broker had us to move to AMP for its Offset accounts. This was for our home loan and Investment loan. The setup of the accounts was very difficult. We had several offset accounts and were sent cards for each without notification of which card was for what account. No branch meant we had to call and then trying to match the cards was difficult even for the staff. I ended up having to use the card and note which card was used for which purchase and then look at the records. Direct debits automatically setup for the accounts and when I called to ask them to be removed, I was told they were, but they were not. In terms of security, I will take responsibility that I fell for a fraud scheme and it wasn't till the bank called me that I realised. Around $3000 was taken within a few hours and 7+ transactions. I was called hours after the last transaction and was told it would take 30-180 days to review the incident. 3 months later I was told that I gave false information regarding my card being on my phone's wallet and that I would not be refunded. We then took all of our loans and savings out of AMP as AMP cannot secure our money like other banks, as several people I know who fell for the same, or other frauds, were refunded by their bank.
^See information about the Mozo Experts Choice Bank Account Awards
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.