based on 475 AMP Bank banking product reviews as rated by Mozo community

AMP Bank term deposits

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.

AMP Bank offers the following term deposits

Rates and fees verified as correct at 23 May 2022. Other information correct at the time of writing. Advertiser disclosure.

Product Best rate (up to 1 year) Minimum deposit Interest paid to another bank?
Term Deposit

2.90% p.a.1 year

$5,000.00

yes

How are AMP Bank term deposits rated?

Mozo users have rated AMP Bank term deposits on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of term-deposits
AMP Bank term deposits
Overall
Price
Features
Customer service
Convenience
Trust

20 Reviews

Recent AMP Bank term deposit reviews

AMP Bank Term Deposit
Overall 3/10
Poor service from AMP

I set up an online term deposit but they had a problem transferring the funds. They told me to contact them. This proved to be nearly impossible. I kept getting emails to say that I should contact them through their APP. However, they hadn't sent me an account number in order to do so. I tried to phone them. On one occasion I was waiting on the phone for over 90 minutes, another time over half an hour. I finally got through on a Sunday. The person showed no concern for my predicament and was very unfriendly. I concluded that AMP's service and staff selection and training was very poor and decided not to invest with them.

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I set up an online term deposit but they had a problem transferring the funds. They told me to contact them. This proved to be nearly impossible. I kept getting emails to say that I should contact them through their APP. However, they hadn't sent me an account number in order to do so. I tried to phone them. On one occasion I was waiting on the phone for over 90 minutes, another time over half an hour. I finally got through on a Sunday. The person showed no concern for my predicament and was very unfriendly. I concluded that AMP's service and staff selection and training was very poor and decided not to invest with them.

Price
9/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Deborah, Victoria, reviewed 3 months ago
AMP Bank Term Deposit
Overall 1/10
Useless customer service. Avoid

I had trouble with AMP when as a lawyer I was after the held up the payment of superannuation to a deceased estate. I thought that the AMP bank may give better service. They will transfer money to themselves within hours of your application but then you cease to exist. Won’t answer your phone calls. No call back and an email response to phone them. Totally useless.

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I had trouble with AMP when as a lawyer I was after the held up the payment of superannuation to a deceased estate. I thought that the AMP bank may give better service. They will transfer money to themselves within hours of your application but then you cease to exist. Won’t answer your phone calls. No call back and an email response to phone them. Totally useless.

Price
7/10
Features
5/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Greg, Victoria, reviewed 4 months ago
AMP Bank Term Deposit
Overall 1/10
PATHETIC LACK OF CUSTOMER CARE.

We placed funds into an AMP Bank Term Deposit weeks ago. While we received an email notifying us that they have received our funds, we have NOT yet received our account number! Without an account number, we can not register for internet banking, we can not check our balance, and check that all is ok. We cant even log in to raise a complaint. We have called numerous times and have had to hang up after 30 to 50 minutes wait to be answered. We sent an email, AMP responded by saying that we had to call them! - NONE of our calls have been answered. We emailed again 4 days ago, (received the auto reply that they had our email), but other than that, NO response.

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We placed funds into an AMP Bank Term Deposit weeks ago. While we received an email notifying us that they have received our funds, we have NOT yet received our account number! Without an account number, we can not register for internet banking, we can not check our balance, and check that all is ok. We cant even log in to raise a complaint. We have called numerous times and have had to hang up after 30 to 50 minutes wait to be answered. We sent an email, AMP responded by saying that we had to call them! - NONE of our calls have been answered. We emailed again 4 days ago, (received the auto reply that they had our email), but other than that, NO response.

Price
6/10
Features
5/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Terry, Queensland, reviewed 5 months ago
AMP Bank Term Deposit
Overall 3/10
AMP BANK customer service failure

On applying for a term deposit, this bank pointed me to their website to register for ongong information about my account. On going to their website, there was no way for new depositors to register because it required info held only by the bank. After waiting 29 mins for a bank representative to explain why I could`nt register, I was told verbally that it was not possible to register for 48hrs. I questioned why the website did`nt say that ? The rep indicated on the `phone that the wording "registration not available for 48 hours" was on their website. It was not. Wanting access to info on my account and seeking sign of the banks integrity in allowing instant registration, I complained. Days later, I received a phone call by a bank representative who went to some trouble to explain to me why it was `nt possible to register. However, my complant was about why the wording " not available for 48 hours"...was absent from their website. My complaint was not about the internal reason why the bank did`nt allow registration. I am the client, not the bank. The Bank persisted in telling me why the wording was not used. I re-iterated that the wording was not only absent, but a web explanation as to its absence to depositors was also absent. I pointed out that a new depositor wants to feel secure about their deposit. I indicated again, that their rep had told me verbally, on the `phone, that their website had the wording. It did not. I asked the representtative dealing with my complaint if the warning wording had now been placed on their website for new investors at their welcome page, so they could feel secure. The rep indicated that they had not fixed the error ! I expressed exasperation at the banks fundamental ignorance of new customer needs. Later, I received an email essentially composed to show process, ie, that AMP had dealt with my complaint. It had not. Their response was unsatisfactory. The website error of omission remains. Being unable to register, and not being told why.... causes new depositors to feel insecure about their deposit, rendering the banks integrity questionable. If on making a deposit, a new customer cannot register to see their deposit, it makes them feel insecure. AMP bank is oblivious to this point. I recommend to those seeking to make term deposits, that they avoid AMP Bank. They are ignorant of basic customer needs, even devious.. Customer focus, clarity and openess are not in their DNA. Any wonder AMP is failing.

Read full review

On applying for a term deposit, this bank pointed me to their website to register for ongong information about my account. On going to their website, there was no way for new depositors to register because it required info held only by the bank. After waiting 29 mins for a bank representative to explain why I could`nt register, I was told verbally that it was not possible to register for 48hrs. I questioned why the website did`nt say that ? The rep indicated on the `phone that the wording "registration not available for 48 hours" was on their website. It was not. Wanting access to info on my account and seeking sign of the banks integrity in allowing instant registration, I complained. Days later, I received a phone call by a bank representative who went to some trouble to explain to me why it was `nt possible to register. However, my complant was about why the wording " not available for 48 hours"...was absent from their website. My complaint was not about the internal reason why the bank did`nt allow registration. I am the client, not the bank. The Bank persisted in telling me why the wording was not used. I re-iterated that the wording was not only absent, but a web explanation as to its absence to depositors was also absent. I pointed out that a new depositor wants to feel secure about their deposit. I indicated again, that their rep had told me verbally, on the `phone, that their website had the wording. It did not. I asked the representtative dealing with my complaint if the warning wording had now been placed on their website for new investors at their welcome page, so they could feel secure. The rep indicated that they had not fixed the error ! I expressed exasperation at the banks fundamental ignorance of new customer needs. Later, I received an email essentially composed to show process, ie, that AMP had dealt with my complaint. It had not. Their response was unsatisfactory. The website error of omission remains. Being unable to register, and not being told why.... causes new depositors to feel insecure about their deposit, rendering the banks integrity questionable. If on making a deposit, a new customer cannot register to see their deposit, it makes them feel insecure. AMP bank is oblivious to this point. I recommend to those seeking to make term deposits, that they avoid AMP Bank. They are ignorant of basic customer needs, even devious.. Customer focus, clarity and openess are not in their DNA. Any wonder AMP is failing.

Price
4/10
Features
2/10
Customer service
1/10
Convenience
5/10
Trust
1/10
Less
Rupert, New South Wales, reviewed 6 months ago

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Term deposit quick links