Interest rate
0.10% p.a.(for $0 to $100,000)
Maximum rate
0.85% p.a. (for $0 to $100,000)
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review AMP Bank Bett3r Account

Last updated: 27 April 2021.

binocular icon
What's hot
  • No account fees (when you deposit $2,000 per month into Bett3r Pay Account))
  • Three linked accounts to help manage your finances
  • 0.85% maximum rate (when you deposit $2,000 per month into Bett3r Pay Account))
What's not
  • Bonus rate only available on balances up to $100,000
  • No branch access
Mozo snapshot

With the AMP Bank Bett3r Account, saving towards your goals is automatic, easy and will never leave you shuffling funds around to pay your bills. And as a bonus, if you deposit your wages of at least $2,000 per month into your Pay account you can earn 0.85% interest rate on your Save account. And with unlimited free app-based online transactions, what more can you ask for?

key icon
Key features

The AMP Bank Bett3r Account is an innovative newcomer to the transaction and savings account world. With the Bett3r Save, Bett3r Pay and Bett3r Spend all linked together as if they were one bank account, it’s set up to help you manage your money better.

Here’s how it works: First, the money that needs to go toward things like bills and rent goes into your Pay Account, so all that important stuff is taken care of.

Then, you can set up your Save account with money savings goals and when you’d like to reach them - say a $15,000 set of wheels in two years time. Your account will automatically put away money so you can reach that goal within your timeframe. Neat, right?

And while your money is building toward your goals in your Bett3r Save Account, it will earn 0.10% interest, without you lifting a finger. But if you commit to making a minimum deposit of $2,000 to the linked Bett3r Pay Account each month, that bumps up to 0.85%.

There are no monthly account fees to worry about, and you can manage your account both online and over the phone with free, unlimited transactions. Saving has never been so easy.

snapshot
Who is it good for

If you’ve got money goals but find it hard to stay motivated or organised enough to meet them on your own, the Bett3r Account could just be the solution you’re looking for, since the three-account setup prioritises and automates savings.

question icon
Any catches

There’s no AMP Bank branch access available, so make sure you're comfortable managing your account from your mobile app or over the phone before going ahead with this one.

Plus remember, although this account won’t cost you anything to open, the Bett3r Pay Account does have a $5 monthly fee (but another benefit of meeting the minimum $2,000 monthly deposit from an external source requirement is that this fee will be waived when you do.)

Details

Rates and fees information correct as at 14 May 2021. 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: 0.10% p.a.
    Balances from $100,000: 0.00% p.a.

  • Balances from $0: 0.85% p.a.
    Balances from $100,000: 0.10% p.a.
    Balances from $5,000,000: 0.00% p.a.

  • Minimum deposit of $2,000 per month into linked Bett3r Pay Account from an external source. By depositing $2,000 per month you will also be entitled to the $5 fee waiver on the Bett3r Pay Account.

Fees
  • $0.00

  • n/a

  • Unlimited free transactions from mobile app, internet.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • $0.00

  • $0.00

  • n/a

Other financial bits
  • $0.00

  • $0.00

  • Monthly

Features
  • no

  • none

  • no

  • no

  • no

  • no

  • no

  • yes

  • yes

  • no

  • no

  • none

  • none

  • none

Customer Reviews

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

Overall
7.0/10
Price
7.1/10
Features
6.2/10
Customer service
6.8/10
Convenience
6.7/10
Trust
7.2/10
Thumbnail icon for 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.

See AMP Bank savings accounts

Thumbnail icon for Virgin Money

Virgin Money

Boost Saver with Go Account

1.20% p.a. (for $0 to $250,000)

0.10% p.a.(for $0 and over)

Yes up to $250,000

Thumbnail icon for MyState Bank

MyState Bank

Bonus Saver Account

1.20% p.a. (for $0 to $250,000)

0.10% p.a.(for $0 and over)

Yes up to $250,000

Thumbnail icon for Virgin Money

Virgin Money

Grow Saver

0.65% p.a. (for $0 and over)

0.10% p.a.(for $0 and over)

Yes up to $250,000

Thumbnail icon for HSBC

HSBC

Serious Saver

0.30% p.a. (for $0 to $1,000,000)

0.15% p.a.(for $0 and over)

Yes up to $250,000

Thumbnail icon for Bankwest

Bankwest

Hero Saver

0.70% p.a. (for $0 to $250,001)

0.01% p.a.(for $0 to $5,000,000)

Yes up to $250,000

Thumbnail icon for Bank of Queensland

Bank of Queensland

Fast Track Saver Account

1.05% p.a. (for $1 to $250,000)

0.05% p.a.(for $1 and over)

Yes up to $250,000

Thumbnail icon for HSBC

HSBC

Flexi Saver

0.25% p.a. (for $0 to $5,000,000)

0.05% p.a.(for $0 to $5,000,000)

Yes up to $250,000

Thumbnail icon for Citi

Citi

Online Saver

1.10% p.a. (for $0 to $500,000)

0.35% p.a.(for $0 and over)

Yes up to $250,000

Thumbnail icon for Virgin Money

Virgin Money

Boost Saver with Go Account

1.20% p.a. (for $0 to $250,000)

0.10% p.a.(for $0 and over)

Yes up to $250,000

Thumbnail icon for MyState Bank

MyState Bank

Bonus Saver Account

1.20% p.a. (for $0 to $250,000)

0.10% p.a.(for $0 and over)

Yes up to $250,000

Thumbnail icon for Virgin Money

Virgin Money

Grow Saver

0.65% p.a. (for $0 and over)

0.10% p.a.(for $0 and over)

Yes up to $250,000

Thumbnail icon for HSBC

HSBC

Serious Saver

0.30% p.a. (for $0 to $1,000,000)

0.15% p.a.(for $0 and over)

Yes up to $250,000

Thumbnail icon for Bankwest

Bankwest

Hero Saver

0.70% p.a. (for $0 to $250,001)

0.01% p.a.(for $0 to $5,000,000)

Yes up to $250,000

Thumbnail icon for Bank of Queensland

Bank of Queensland

Fast Track Saver Account

1.05% p.a. (for $1 to $250,000)

0.05% p.a.(for $1 and over)

Yes up to $250,000

Thumbnail icon for HSBC

HSBC

Flexi Saver

0.25% p.a. (for $0 to $5,000,000)

0.05% p.a.(for $0 to $5,000,000)

Yes up to $250,000

Thumbnail icon for Citi

Citi

Online Saver

1.10% p.a. (for $0 to $500,000)

0.35% p.a.(for $0 and over)

Yes up to $250,000

Thumbnail icon for Bankwest

Bankwest

Hero Saver

0.01% p.a.(for $0 to $5,000,000)

0.70% p.a. (for $0 to $250,001)

Yes up to $250,000

Thumbnail icon for Bank of Queensland

Bank of Queensland

Fast Track Saver Account

0.05% p.a.(for $1 and over)

1.05% p.a. (for $1 to $250,000)

Yes up to $250,000

Thumbnail icon for HSBC

HSBC

Flexi Saver

0.05% p.a.(for $0 to $5,000,000)

0.25% p.a. (for $0 to $5,000,000)

Yes up to $250,000

Thumbnail icon for ING

ING

Savings Maximiser

0.05% p.a.(for $0 and over)

1.35% p.a. (for $0 to $100,000)

Yes up to $250,000

Thumbnail icon for ANZ

ANZ

Progress Saver

0.01% p.a.(for $0 and over)

0.40% p.a. (for $0 and over)

Yes up to $250,000

Thumbnail icon for Newcastle Permanent

Newcastle Permanent

Smart Saver

0% p.a.(for $0 and over)

1.40% p.a. (for $0 and over)

Yes up to $250,000

Thumbnail icon for Auswide Bank

Auswide Bank

Ziggy Kids Saver

0.01% p.a.(for $0 and over)

2.01% p.a. (for $0 and over)

Yes up to $250,000