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.
If I could give place a 0 star rating I would! Worst bank I have ever dealt with, worst service I have ever received!!! They have taken my money and closed my account and have found it was a mistake on their end, 6 months later, still fighting for my money back and they will not release it back to me even though they have realised they should have never closed it! Absolute thieves and the customer service is atrocious. They never get back to you, never reply to your emails and don’t lodge your complaints straight away DO NOT TRUST THIS BANK!!!
The people at AMP are so inefficient, I have recently opened 2 accounts with them and on neither occasion has it gone smoothly. I opened the first account and it took them 2 months to add it to my internet banking, as an account with no card access, this is appalling. I lodged a complaint and have never heard back, 8 weeks and counting. This was sorted out so I decided to give it another go and I opened a second account and it was almost immediately added to my internet banking, so I started making transfers, but apparently the account was not made active (if you need more information do not put BSB and account number on internet banking). Since opening I have received requests for the same information twice and customer service (I use the term very loosely) cannot tell me why. So my transfers are being returned. There service hours are until 8pm eastern time but at 5.51 they cannot find anyone to help, or do not want to! I am in WA so for half the day cannot deal with the bank.
Tried to open an everyday account as someone who is not a permanent resident of AU. They made me to fill in many forms re TFN with many ID validations, etc, all approved. After a month I received an email stating that your account is open, soon you'll receive a letter. A week later we were asked for the proof of residential address which we couldn't provide as we visit AU a couple of times a year and during the visit do not have any utility bill under our name or don't need AU's driver's license, etc.; stay with our child. They closed the application after a month just because of that! Such a waste of time. Couldn't you check it first?
They are pathetic in responding to customer's complaints. You can hang on for hours on live chat but no agent comes online. Even for existing customer they want identifications again.
These people are thieves , I am still asking myself ‘how it’s a bank like this legally operating in 2022. The wait times for your pay to go in can take up to 2-3 days, they have no real time payments or Osko, they have customer service which is basically careless people that just tell you to wait.
We changed banks several years go from AMP to another bank, but kept a savings account open with AMP. Recently I tried to transfer remaining funds, and was blocked by AMP to access our own funds. The reason stated was that AMP had to verify the joint account holders ID, even though this was all done many years ago when we applied for the home loan. After several phone calls and emails, still no access to our funds
Only 0.6% interest in the first month of account opening, then supposedly from month two you get the full rate. The wording is such that many don't realise this catch. My rate still shows 0.6%. From speaking to them, they know this confuses and catches out many new customers. If you do open an account, have a minimum amount in until the second month.
I wouldn't trust AMP Bank to bank with. If you get scammed they take nearly 108 days to get back to you to tell you in the end that they won't be repaying you the money you lost! I was scammed $2000, as a low wage earner $2000 is a lot of money to me! Don't trust them with your money!
AMP is the worst bank in the world. Do not bank with them. We are leaving this bank. They have taken over 3 months just to open a basic Access account for our teenager son. A simple request that the Big Banks could do within 1 day, whereas AMP has had to be blasted over the phone to pull their finger out of their asses and actually open this Access account. Their customer service is woeful. They do not care to help you. They don't want to help you. Calling them makes no difference. Making a complaint makes no difference. They state that the complaints department will be in contact with you and they don't contact you. AMP needs to be shut down by the Australian Government. The CEO needs to take a long deep look at all these complaints and fix this bank and close up shop!
Phone banking. Called several days and each time waited over 60 minutes. the last wait was 95 minutes before I hung up before hanging up. Tried the bot and got an operator who said I would get a call back - Never happened. Why do they have phone banking if they don't answer ? Problem is urgent. I have 4 bank accounts with hundreds of thousand of dollars. For weeks now I can't access them online. This is ridiculous. Very risky to trust money to a Bank when they do this and they provide no means to call them. Customer service is 0 stars. As there is no Branch I will need to write to close all of my accounts
This week I found my AMP ID to my business account was inactive. Waited on the phone to the call centre for 1 hour 5 minutes before someone answer. The lady told me my business account was still there and she did not understand why my AMP ID didn't work. She said someone from IT would call me to resolve my issue. Nothing happened. Next day. Called the call centre again. Placed a callback. 1.5 hours later someone called back. The lady told me I should not have one AMP ID to manage business account and have another one to manage my personal accounts. She gave me an incident ID with their IT department. She said she would personally call me back when the issue was resolved. I asked this lady what to do if I want to cancel my AMP accounts. She said AMP bank is online only. There is no branch to go to and I will have to call the call centre to cancel account. Waited for 2 days (one was a public holiday). Nothing happened. Called the call centre again. Placed a callback. More than 3 hours later someone called back. While the lady was busy identifying me, the call was dropped. No one called me back again. Called the call centre again. It was after 5:00 PM (AMP bank said the call centre close at 8:00 PM). The IVR did not let me place a callback. Wait on the phone for more than 30 minutes and gave up. AMP bank also claims their online chat service is available until 5:00 PM. I tried numerous times during the 3 days and could not connect once. In conclusion, the AMP call centre is very overloaded. Since AMP's call centre is the only way to resolve any issue (no branch), are you willing to spend days or weeks to wait on the phone when issue arise?
About a year ago I switched from NAB to AMP to access a more competitive home loan rate. The process of changing banks took over 4 months, with no communication at all along the way. At a later date I refinanced to access the equity in my house, the refinancing took 5 months! The wait times are just ridiculous. AMP does not have OSKO or PayID, every transaction takes 1-3 business days. It's 2022, how is this not an option yet! To top it off their customer service is absolutely non-existent. Their live chat service can only help you with the absolute basics, and good luck getting a hold of their customer service line. For example today, I needed to transfer money (over the 25k limit that they allow). I have been on the phone for 1hr 45minutes with no call back options. There are better banks out there with more competitive rates, don't waste your time here.
Applied for a business bank account online. Nobody got in touch over the phone, as is often the case with other (customer focused) banks. A few days later received a generic template email requesting more details. The bank did not have a process for dealing with digital documents. I had to post something for the first time in years. There was always at least a 3 day wait for any response. None of the responses were personalised, just more templates. A month later and still without a bank account, called customer service and spoke with an irritable customer service rep. She was unable to help and said I had to wait for my email response (another template). This is when I finally gave up. I only considered AMP because it was voted the best bank for small business. However, I did not have that experience. If you are a bit old-school and like the way things were done "back in the day", it may work for you. If you prefer a company with a modern approach to take your business into the future, maybe best to look elsewhere.
Want more? Compare all 106 bank accounts in the Mozo comparison engine.
Compare more bank accountsMozo gives you the inside story on the best banking, energy and insurance products as rated by thousands of real customers around Australia. We don't make subjective judgments, nor do advertisers influence our ratings. Although our reviews may be moderated to improve quality standards, they are moderated independently of any of Mozo’s commercial relationships.