AMP Bett3r Spend Account

$0.00

rediATM

Visa Debit

AMP Bett3r Spend Account Review

Rates and fees information correct as at 27 April 2018.

Review published: 11 January 2017

What's hot:

  • No account fees

  • One of three linked accounts that make budgeting easy

  • Mozo Experts Choice Innovation Award Winner

What's not:

  • $5.50 overseas ATM fee

  • $1,000 daily withdrawal limit

Mozo snapshot:

The AMP Bett3r Spend Account is an everyday bank account but what makes it a little different from other accounts in the market is 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, free access to the rediATM network and no account keeping fees, so all your money can be spent on the things you love instead of on bank fees. 

Key features:

The AMP Bett3r Account is actually three accounts in one - one for spending, one for paying for all 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 free access to the rediATM network, as well as unlimited free transactions through EFTPOS, phone, mobile app, internet banking, and Bank@Post.

Who it's 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.

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 $5 fee (which will be waived if you meet the minimum $2,000 monthly deposit from an external source requirement.)

How are AMP bank accounts rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
6.1

Based on 19
AMP bank accounts reviews

6.4 5.9 6.3 6.6 6.9

Read AMP bank account reviews by the Mozo community

Latest review of AMP Bett3r Spend Account

AMP

AMP Bett3r Spend Account bank account review

Overall rating   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.

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   / 10

    Customer service   / 10

    Convenience   / 10

    Trust   / 10

Less

Georgina (SA), reviewed 10 months ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Rates

  • Balances from $0: 0.00% p.a.

  • none

  • n/a

Fees

  • $0.00

  • none

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

  • $0.00

  • rediATM

  • $0.00

  • none

  • none

  • $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

  • $1.50

  • 2.50%

Debit card

  • $5.50

  • $1.50

  • 2.50%

About AMP

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, credit cards, savings and accounts and term deposits. Also AMP's range of vehicle insurances are designed to give you more choice and flexibility while providing cover for a comprehensive range of accidents, damage and events.

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