Introducing the AMP Bett3r Account (Bett3r), a better way to manage your money and save for your goals. It’s more than just a bank account, it takes the hard work out of managing your money, helps you stay on track and rewards you for taking control of your finances.
What is Bett3r?
Bett3r is a bank account with the intelligence to help you manage your money and keep you on track financially. It has three linked accounts (Pay, Save and Spend) that work together effortlessly giving you an accurate view of your income, bills, progress on your savings goals, and money you can safely spend; all in the palm of your hand.
Money automatically set aside for your bills
Set up and see your income and everything you need to pay.
Once you’re set up, you can ensure you're prepared for upcoming bills and help pay them on time.
Money automatically put towards your goals
Create as many save goals as you like and start saving to achieve them or simply save for a rainy day.
Tracking your progress will help you reach your goals and help you prioritise what is important to you.
Money you can spend safely
This is the fun part.
Now that you have taken care of your bills and your goals, what is left is safe for you to spend.
Bett3r could help you own your home soonerShow more
Bett3r cleverly uses your three pots of money (Pay, Save, Spend) to offset the balance of your eligible AMP Bank variable home loan. By linking Bett3r to an eligible loan account you could reduce the interest payable on your loan helping you own your home sooner.
If you also deposit at least $2,000 each month2 to your Pay account, you get access to the following rewards:
- Receive up to 1.5% bill cash back on BPAY® and direct debit- transactions made from your Pay account3.
- Receive ATM fee rebates when you make withdrawals from any ATM in Australia using your AMP Bank Access Card (including Visa Debit)4.
Terms and conditions apply. Learn more about Bett3r Rewards.
If you need information on how to apply for an eligible AMP Bank home loan with AMP Bett3r Account as an offset account, contact AMP Bank on 1300 534 325.
Already have an AMP Bank account?Show more
Eligible deposit products
If you already have an account with us and want to open an AMP Bett3r Account, you may be able to switch your existing account.
These are the deposit products which are eligible to be switched to a Bett3r Pay account:
- Easy Cash Management
- AMP Access Account
- AMP First
- Cash Management Account
- AMP Cash Manager
Eligible loan products
View our eligible loan products which can be linked to a Bett3r Offset account.
AMP Bett3r Account rates and feesShow more
Effective date 10 August 2016.
These rates are variable and are subject to change.
|AMP Bett3r Account with deposit accounts||Interest rate||Bett3r Rewards*|
|Bett3r Pay||1.50% pa|
|Bett3r Save||1.50% pa||3.00% pa|
|Bett3r Spend||0.00% pa|
*Where eligible for Bett3r Rewards.
Deposit at least $2,000 each month to avoid the $5 Monthly fee. Stay above that minimum and all your banking is fee-free, with the exception of special services. Applicable only on the AMP Bett3r deposit account, not available on the AMP Bett3r Offset account. View the AMP Bett3r Account fees and charges guide for more details.
|AMP Bett3r Account with Offset deposit accounts||Interest rate|
|Bett3r Pay||0.00% pa|
|Bett3r Save||0.00% pa|
|Bett3r Spend||0.00% pa|
Bett3r RewardsShow more
To reward you for managing your finances through the AMP Bett3r Accounti, AMP Bank provides additional rewards for eligible customers. You will be eligible to receive the relevant Rewards for a month, where AMP Bank determines on the first working day of that month that in the previous month at least $2,000 was deposited into your Bett3r Pay account from an external source that is not another AMP Bank account. Read other important information about AMP Bett3r Rewards
Reward information current as at 22 December 2016.
Where your AMP Bett3r Account is not linked to an eligible loan accountii so is not to be used as an Offset Account:
Bonus interest rate reward
The bonus interest rate reward gives you an additional interest rate of 1.5% per annum for your AMP Bett3r Save account, applicable to the credit balance in your Bett3r Save account of up to $100,000.
The bonus interest rate applies in addition to standard interest earned on your AMP Bett3r Save accountiii. Bonus interest will be calculated daily in each month you are eligible. It will be credited to your Bett3r Save account on the first day of the next month.
The bonus interest is not payable in conjunction with any other promotional rate. AMP Bank can change the bonus interest reward (including waiving an eligibility condition) or withdraw it at any time.
If you are not eligible to receive the bonus interest rate, you will simply receive the standard interest rate on your Bett3r Save account. View current rates.
Where your AMP Bett3r Account (with three Offset Deposit Accounts) is linked to an eligible loan accountii:
First Reward: Bill Cashback
The bill cashback reward is a credit to your Bett3r Spend account. It is calculated as 1% of the value of BPAY® and Direct Debitiv transactions made from your AMP Bett3r Pay account, up to a maximum of $1,000 of BPAY® and Direct Debit transactions per month.
Where you have held the same eligible loan account for more than four years and it is linked to your Bett3r Account, the bill cashback reward applies at the rate of 1.5% instead of 1%.
The bill cashback will be credited to your AMP Bett3r Spend account, generally within three business days from the time of the BPAY® or Direct Debit transaction.
AMP Bank can change the bill cashback (including waiving an eligibility condition) or withdraw it at any time.
Second Reward: ATM Fee Rebate
Cash withdrawals from an ATM may incur fees. If you make withdrawals from an ATM in Australia using your AMP Bank Debit Card (including Visa Debit) linked to your Bett3r Account, we will rebate these feesv into your Bett3r Spend account, generally within three business days of the ATM transaction.
However, please note that the ATM fee rebate reward does not apply to:
- any merchant fees or charges; and
- any cash withdrawals using means other than ATMs (eg. EFTPOS machines); and
- any fees relating to currency exchange or currency conversion.
AMP Bank can change the ATM fee rebate reward (including waiving an eligibility condition) or withdraw it at any time.
i All terms used in these Rewards Terms and Conditions have the meanings given in the Bett3r Account Terms and Conditions, including Bett3r Account, Bett3r Pay, Bett3r Spend and Bett3r Save.
ii Currently an eligible loan account is either AMP Bank Professional Package Variable Rate Loan or AMP First Variable Rate Loan.
iii Please refer to the AMP Bett3r Account Terms and Conditions for how and when standard interest is applied to your account.
iv A direct debit transaction from your AMP bank account that you arranged through an external party (such as a merchant or another bank, building society or credit union).
v AMP Bank relies on the relevant ATM operators and other third parties for information regarding ATM fees.