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AMP Bank Savings account customer reviews

Overall rating
6.5/10
Price
6.7/10
Features
5.9/10
Customer service
6.4/10
Convenience
6.3/10
Trust
6.6/10
Based on 100 AMP Bank savings account reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
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Featured savings account from AMP Bank

AMP Saver Account

Maximum rate
5.40% p.a. (for $0 to $250,000)
standard interest rate
1.20% p.a.(for $0 to $5,000,000)
Govt Deposit Guarantee
Yes up to $250,000

Enjoy a bonus rate when you deposit at least $1000 per month with the AMP Saver Account.

Promoted

Recent AMP Bank savings account customer reviews

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  • AMP Bank AMP Saver Account

    best saving interest rates in AUS

    My AMP saver account is the first time I’ve ever seen real returns on interest from any savings account. 1.20% interest rate Has to be the best saving account in Australia

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    Courtney, South Australia, reviewed 2 months ago
  • AMP Bank Savings Account

    RIDICULOUSLY INEPT BANK

    With a combined 120 years of banking the last 3 months of investing our retirement investments with AMP has been an absolute nightmare and the mistakes they have made on our term deposits are beyond belief. We obviously did not place much importance on the scathing reviews this bank receives before trusting them thinking that term deposits were not complicated. Now we are in the ridiculous position of having to make complaints to AFCA. and seek there assistance.

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    Les, Victoria, reviewed about 2 months ago
  • AMP Bank AMP Saver Account

    Beware of their changing Bonus Interest Accounts

    Been banking with AMP for few years and had disputed with them for large sum of unpaid interest rates due to their every changing benchmarks. In my case the bank had claimed that I was 'informed' of their policy change by a physical letter but then changed their their story via an email. They can't even tell what was the method of informing nor the dates it was sent and I have received non of it. Their complaint team literally pushes the responsibility back to their customer for us to keep up with their online publication. Who would ever have time to check their bank policy from time to time? Quite obviously a set-up holding the customers funds with the intention to avoid paying interest to their customers where possible. Fed up with this bank and is time to move on to a bank that can be trusted.

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    Luke, Victoria, reviewed 10 months ago
  • AMP Bank Savings Account

    AMP provides a good, diverse service for savers.

    I selected the AMP Bank for my Savings because it had a good interest rate on Savings and a range of investment opportunities for small and/or larger deposits. I do find their current Savings 'rule' of having to deposit $1,000 each month in order to secure the higher interest annoying! As a pensioner, I simply do not have these new savings and if I didn't 'move money around' each month, I would only receive the minimum interest. This is unfair to those of us who are working hard to conserve funds and 'make our money work for us' but most banks work in the same or similar way.

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    Judy, New South Wales, reviewed 10 months ago
  • AMP Bank AMP Saver Account

    Stay clear

    Do not open this product. You will not generate interest on your money until the next month. For example, I deposited 250k and only got 140 dollars interest for the month. Very very misleading, very unclear and inconsistent t&Cs. Stay clear

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    Dj, New South Wales, reviewed 11 months ago
  • AMP Bank AMP Saver Account

    Do yourself a favour, NEVER get sucked in… crooks

    NEVER EVER use this bank. Banks in Australia are generally BAD for customer service but AMP is beyond anything I have ever experienced. It is criminal that they happily take you money when you save with them….. just try and withdraw it !!! Absolutely impossible, yet they swear blind every time you call that it’s all fixed and no problem. Absolute thieves and liars.

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    Steve, Northern Territory, reviewed about 1 year ago
  • AMP Bank AMP Saver Account

    Increase interest rates on Savings - early

    Online service great - easy set up Has been responding to the increasing interest rates unlike some other banks which have been lagging

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    Jadranka, Queensland, reviewed almost 2 years ago
  • AMP Bank AMP Saver Account

    AMP is GREAT!!

    This account has a great interest rate. Only $250 a month is required which is great. Very easy to use and does everything I need. Not much else I can ask for!

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    Jamie, New South Wales, reviewed almost 2 years ago
  • AMP Bank AMP Saver Account

    Bad service and bad rates

    We have had the account for a while now and 3 times we have needed to contact customer service. On All 3 occasions, the service was lousy. Main pain points- - takes forever to call and get through to someone - don't offer pay id - need to physically print, sign, return a form and wait 5 business days just to transfer 25k - the interest rate on savings is rubbish

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    Robbie, New South Wales, reviewed almost 2 years ago
  • AMP Bank Savings Account

    AMP closed my account & I cannot get my funds back

    My business savings account was closed, without my permission or without informing me. I've contacted AMP on multiple occasions via phone and email - as they have no branches - and was repeatedly given incorrect information by various agents about what had happened to my funds and how I could retrieve my funds. I am asked to fill out forms that I already completed upon opening the account, I am told to email the forms, then after weeks of no reply, I call up to hear the forms need to be posted. Again weeks go by without response. I call up again to then be told I need to fill out a whole other set of forms. Long story short, I have been trying to get my funds back for the past 6 months and haven't gotten anywhere. The bank does not even get back to me. This is unacceptable. I feel I am dealing with scammers, not a financial institution. I do not know where my funds are and when (if at all) I will receive my funds back.

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    Jim, Victoria, reviewed almost 2 years ago
  • AMP Bank AMP Saver Account

    Didn't update interest rate, long transfer times.

    They used to have a good interest rate for their savings account, but with the interest going up they are no longer competitive. I requested a large transfer by sending a form on a Wednesday (I was originally told that it was going to be done on that day or overnight) but even though I called to chase this several times, it was done Friday evening. Very disappointed as I wanted to avoid having the money in limbo during the weekend.

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    Mariana, Queensland, reviewed almost 2 years ago
  • AMP Bank AMP Saver Account

    Service sucks

    Service sucks. Gave up waiting for my phone calls to be answered after 1 hour. The only good thing about them is their interest rates on the savings account.

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    Jerry, Queensland, reviewed about 2 years ago
  • AMP Bank Savings Account

    The call centre is not accessible at all.

    The call centre is not accessible at all. in my last 4 contacts with them each call took one hour to be answered. One service consultant was not helpful at all.

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    Dennis, Victoria, reviewed about 2 years ago
  • AMP Bank Savings Account

    Dodgy and holding my money to ransom

    I opened a savers account to access their competitive interest rate. They allowed me to transfer $55,000 into the account. I later tried to transfer the money back to an external account when I realised they won't give me the bonus interest rate in the first month. After a few days no money had cleared in my external account and shortly after I contacted them believing it must be a technical, easy to fix issue. I was then notified that my account has been blocked but they will not tell me why, that they do not know why and I have to wait for a letter to arrive in the mail at some point. And it is most likely that I will need to then get a certified copy of my ID, complete the form I receive and then mail it back to them. If all runs smoothly it should be resolved within 3-4 weeks. But again they cannot tell me what has happened and why my access to my funds has been blocked. The manager also could not be bother to call me back, I cannot speak to anyone in the department that has blocked my account and I just have to wait and go without access to my money until it is resolved as per their procedure. I have never experienced such dodgy practices.

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    Hanako, Queensland, reviewed over 2 years ago
  • AMP Bank AMP Saver Account

    Seriously, can't transfer on weekends or public ho

    Trying to transfer money since Sunday. Today is Wednesday & every day the message comes up that it exceeds daily limit despite I am nit transferring more than my limit. It apparently is due to a Saturday Sunday & 2 public holidays. Money doesn't move these days.....I ask why not....it's computer to computer! A previous transaction has been pending since Saturday (today Wednesday) so is not allowing me to transfer until it moves out.

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    Maggie, New South Wales, reviewed over 2 years 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. Financial providers may, from time to time, offer incentives for reviews, regardless of the sentiment of the reviews.

    Savings account comparisons on Mozo - rates updated daily

    • High Interest Savings Account

      Maximum rate
      5.75% p.a. (for $0 to $250,001)
      standard interest rate
      4.40% p.a.(for $0 to $250,001)
      Govt Deposit Guarantee
      Yes up to $250,000

      Bonus rate for the first 4 months from account opening

      Promoted
    • Savings Account

      Maximum rate
      5.35% p.a. (for $0 to $250,000)
      standard interest rate
      4.75% p.a.(for $0 to $1,000,000)
      Govt Deposit Guarantee
      Yes up to $250,000

      Bonus variable rate is available for the first four months.

      Promoted
    • High Interest Save Account

      Maximum rate
      5.10% p.a. (for $0 to $250,000)
      standard interest rate
      0.10% p.a.(for $0 and over)
      Govt Deposit Guarantee
      Yes up to $250,000

      Deposit at least $200 to either Spend, Bills or Save account from an external source each month.

      Promoted
    • AMP Saver Account

      Maximum rate
      5.40% p.a. (for $0 to $250,000)
      standard interest rate
      1.20% p.a.(for $0 to $5,000,000)
      Govt Deposit Guarantee
      Yes up to $250,000

      Enjoy a bonus rate when you deposit at least $1000 per month with the AMP Saver Account.

      Promoted
    • Reward Saver Account

      Maximum rate
      5.25% p.a. (for $0 to $1,000,000)
      standard interest rate
      0% p.a.(for $0 and over)
      Govt Deposit Guarantee
      Yes up to $250,000

      Intro bonus rate of 5.25% for balances up to $1,000,000 for the first 4 months, reverting to 3.25%. Minimum deposit of $50 and no withdrawals.

      Promoted

    Want more? Compare all 200 savings accounts in the Mozo comparison engine.

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