Australia: AMP’s new Bett3r account: three is better than one

Recently awarded ‘Best Savings Account’ by Finder, AMP’s new three-in-one account beat out the competition due to the savings rate offered. The Bett3r Account from AMP is the first of its kind which includes three linked accounts; Pay, Save and Spend. It was created to help customers get on top of their finances whilst also rewarding savings through offering a rate of up to 3 percent per annum with conditions of depositing a minimum of $2,000 into the Pay account each month. The linked accounts have been designed to work together to provide a simultaneous view of income, upcoming bills, progress on savings goals and spending priorities all available on a mobile application.

"1 in 3 current transaction account holders find the ability to see all online accounts from the one location the most appealing tool or service offered by a financial institution."

Sally Bruce, AMP Bank’s Group Executive stated, “As a wealth management bank our aim is to help our customers achieve their goals, including helping them own their home sooner – we know the foundation to achieve these goals is day-to-day cashflow management, a challenge for many of us in our busy lives”. According to RFi Group data, 1 in 3 current transaction account holders find the ability to see all online accounts from the one location the most appealing tool or service offered by a financial institution. Millennials are focused on goal tracking and convenient all-in-one tools above other personal finance management services offered.

 

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