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AMP Bank Bett3r Spend Account

Advertiser disclosure
Account fee
$0.00
Payment options
Apple Pay, Google Pay, Samsung Pay
Interest rate
0% p.a.

Mozo editorial review AMP Bank Bett3r Spend Account

Last updated: 31 August 2020.

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What's hot
  • Mozo Experts Choice Innovation Award Winner
  • No ongoing account fees
  • One of three linked accounts that make budgeting easy
What's not
  • $5.50 overseas ATM fee
  • $1,000 daily withdrawal limit
Mozo snapshot

The AMP Bank Bett3r Spend Account is an everyday bank account but what makes it a little different from many other bank accounts is that it's linked to the Bett3r Save and Bett3r Pay accounts. This 3-in-1 account functionality earnt it the Innovation Award in the Mozo Experts Choice Awards 2017.

The Spend Account comes with a linked VISA Debit or EFTPOS card and no account keeping fees, so all your money can be spent on the things you love instead of on bank fees.

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Key features

The AMP Bank Bett3r Account is actually three accounts in one - one for spending, one for paying for all of life’s necessities and one for saving toward your goals.

Your money hits the Pay Account first, so all your bills are taken care of. After that, funds are automatically allocated to your saving goals in the Save Account. Anything leftover goes to the Spend Account, which is an everyday transaction account and the one we’re talking about in this review. These funds are yours to spend however you want - as long as you’ve set the linked accounts up properly, all your budgeting has been done already, so you won’t have to worry that you’ve overspent on Friday night celebrations and forgotten about an incoming electricity bill.

Aside from the innovative three-account style, this is actually a pretty simple bank account. There are no fees to worry about unless you’re using the linked debit card overseas, in which case there’s a $5.50 ATM fee and a 2.5% foreign exchange margin.

Whenever you’re in the land Downunder though, you’ll have unlimited free transactions through EFTPOS, phone, mobile app, internet banking, and Bank@Post.

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Who is it good for

Because the Bett3r Account splits your money into three pots - the first for necessities, then for saving and finally for fun spending - it’s a great bank account for anyone who needs a little help to keep their budget straight and to not overspend on everyday indulgences.

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Any catches

If you’re planning to spend big, think ahead to make sure the $1,000 daily withdrawal limit doesn’t put a damper on your day.

Plus, remember, although this account itself has no monthly fee, the linked Pay Account does have a $6 fee (which will be waived if you meet the minimum $2,000 monthly deposit from an external source requirement.)

Details

Rates and fees information correct as at 30 November 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Balances from $0: 0.00% p.a.

  • n/a

  • n/a

Fees
  • $0.00

  • n/a

  • Unlimited free transactions from EFTPOS, mobile app, internet, cheque and Bank@Post deposits.

  • $0.00

  • None

  • $0.00

  • n/a

  • n/a

  • $0.00

  • $0.00

  • $0.00

  • $0.00

  • $5.50

  • 2.50%

  • $0.00 monthly

Other financial bits
  • $0.00

  • $0.00

Features
  • $1,000.00

  • no

  • no

  • yes

  • no

  • no

  • yes

  • yes

  • none

  • none

Atm card
  • $5.50

  • $0.00

  • 2.50%

Debit card
  • $5.50

  • $0.00

  • 2.50%

Payment options

Apple Pay, Google Pay, Samsung Pay

Customer Reviews

How are AMP Bank bank accounts rated by the Mozo community?

Overall
6.9/10
Price
7.2/10
Features
6.5/10
Customer service
6.8/10
Convenience
6.3/10
Trust
7.4/10

Latest reviews of AMP Bank Bett3r Spend Account

  • Overall 1/10
    AMP with YOUR money to suit them!

    Along with being one of the worst performing superannuation funds, AMP's banking arm is nothing short of disgraceful. 8 days to clear a bank cheque. I was told it was because of being deposited at Aus Post.

    Read full review

    Along with being one of the worst performing superannuation funds, AMP's banking arm is nothing short of disgraceful. 8 days to clear a bank cheque. I was told it was because of being deposited at Aus Post.

    Price
    1/10
    Features
    1/10
    Customer service
    1/10
    Convenience
    1/10
    Trust
    1/10
    Less
    Lawrence, Western Australia reviewed about 1 month ago
  • Overall 10/10
    Trustworthy provider

    I believe AMP are very professional and trustworthy. My experience is everlasting as they explained their company clearly to me. Answers were addressed well. Recommended and they are worthy with my finances.

    Read full review

    I believe AMP are very professional and trustworthy. My experience is everlasting as they explained their company clearly to me. Answers were addressed well. Recommended and they are worthy with my finances.

    Price
    10/10
    Features
    -
    Customer service
    -
    Convenience
    -
    Trust
    -
    Less
    Georgina, South Australia reviewed over 3 years ago
AMP Bank

About AMP Bank

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.

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