Australian savers to win from AMP Bank’s new, leading savings rate; AMP Bank also makes ATM access free


Sally Bruce

AMP Bank has announced a number of highly-competitive offers for customers, cementing its position as a non-major bank of choice for Australian savers and home buyers.

AMP Bank has launched a new, highly-competitive savings rate for the AMP Saver Account, including a 3% p.a. four-month introductory rate for new customers on balances of up to $250k and a very strong ongoing rate of 2.1% p.a. on all balances.

The Bank is also making ATM access free for all its customers, across any ATM in Australia, via a fee rebate, which means that if customers are charged a fee by an ATM operator, AMP Bank will automatically credit their account with the amount of the fee after the transaction.

Sally Bruce, CEO AMP Bank, said the competitive offers demonstrate AMP’s commitment to put customers first.

“AMP Bank has a 21-year history of supporting customers save for big life moments such as their first home, to start a family or take that once-in-a-lifetime holiday.

“We know it’s getting harder to save given interest rates are low, so today we’re offering customers not only a great introductory savings rate, but a highly-competitive ongoing rate to help our customers reach their savings goals faster.

“What we have announced today is extremely competitive for customers and positions AMP Bank strongly in market,” said Ms Bruce.

Ms Bruce added: “Supporting our customers reach their financial goals has also driven our decision to offer a rebate for ATM fees – no matter which ATM they use across Australia – making every single ATM in Australia accessible and free for AMP bank customers.

“There are no hidden conditions, with no deposit or minimum number of transactions attached to the rebate. From 1 June 2019, if a customer is charged a fee at an ATM, we will rebate the full amount of that fee into their account. We are extremely proud to support our customers in this way,” Ms Bruce said.

AMP Saver is an award-winning account, having been recently awarded Mozo’s Kick Start Savings and No Strings Savings and a 5-star rating from Canstar for Outstanding Value for Flexible Savers.

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