Bank makes show of support for customers

Non-major says new offerings sure to “position bank strongly in the market”

Bank makes show of support for customers


By Madison Utley

A non-major yesterday announced several measures intended to demonstrate its commitment to customers. 

AMP Bank has launched a new savings rate for its AMP Saver account, including a 3% p.a. four-month introductory rate for new customers on balances of up to $250k and an ongoing rate of 2.1% p.a. on all balances.

CEO Sally Bruce explained, “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 them reach their savings goals faster.”

The AMP Saver account was recently granted Mozo’s Kick Start Savings and No Strings Savings awards. It has also received a 5-star rating from Canstar for Outstanding Value for Flexible Savers.

In addition to the new rate, the bank has also moved to make ATM access free for all customers across the whole country. If a customer is charged by the ATM operator, AMP will automatically credit the account the amount of the fee.

"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,” said Bruce. 

“AMP Bank has a 21-year history of helping customers save for big life moments such as their first home, to start a family or take that once-in-a-lifetime holiday. What we have announced today is extremely competitive for customers and positions AMP Bank strongly in market,” the CEO concluded.

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