We get asked these questions a lot...
How do I open an AMP Bett3r Account (Bett3r)?
You can apply for and open a bett3r account by visiting amp.com.au/bett3r and clicking on the Apply button
Can I access Bett3r on all mobile devices?
No, Bett3r is only available on iPhone and Android smartphones at this stage. Full functionality can only be accessed using the Bett3r app.
Can i access Bett3r using my desktop?
You can only access limited functionality. To access Bett3r, you need to use your smartphone. On desktop in My AMP, you can make normal banking transactions such as internal and external fund transfers. Full functionality can only be accessed using the Bett3r app.
What rewards are available on Bett3r?
Please review the Rewards section of the Bett3r website on amp.com.au/bett3r for more information.
What are the fees and charges on Bett3r?
Please refer to the AMP Bett3r account fees and chargers guide located under the Terms and conditions section on amp.com.au/bett3r
Do I automatically get a card to access my money?
Yes, Bett3r comes with a Visa Debit card linked to the Spend account. Select CRD or SAV buttons to access funds in your Spend account.
Do I automatically get a card to access my money in my Pay account?
No, Bett3r comes with a Visa Debit card linked to the Spend account but if you would like one that is linked to your Pay account, please call us to have this arranged 13 30 30.
Do I get a card to access my money in my Save account?
No, there is no card linked to your Save account. If you would like to access money in your Save account, you need to transfer it to either your Pay or Spend accounts.
What interest rates are available on bett3r?
You can find the most current interest rates at amp.com.au/bett3r under the interest rates section.
Can I use the Bett3r app on my tablet?
No, Bett3r is currently only available on smartphones
Can I use the Bett3r app on more than one phone?
yes, however you will need to re-enter your My AMP login details for each device separately.
What do I do if I lose my phone?
call us immediately on 1300 657 801 if you lose your mobile device. We will place a block from the device to your account.
Do I need to log out of the app?
The Bett3r app will log you out after 5 minutes of inactivity but we recommend you logout each time, as soon as you have finished. To logout, go to Home, select "More" and then select logout
Interest RateShow more
Effective rate display
If you are eligible for one of the Bonus Interest Rates and your Bett3r Save account balance is more than $100,000, when you view your interest rate in the AMP Bett3r App you will see an effective rate that is between the Standard Interest Rate and the Bonus Interest Rate.
This rate is an effective rate for the entire balance of your Bett3r Save account and reflects that both the Standard Interest Rate and Bonus Interest Rate has been applied to the first $100,000 balance of your Bett3r Save account and only the Standard Interest Rate has been applied on the balance over $100,000.
For example, if you are eligible for Bett3r Rewards,
the Standard Interest Rate is 1.50%, the Bonus Interest Rate is 1.00%, and your balance is $150,000 for the month of June, you will see an interest rate shown as 2.17%.
Interest is calculated as follows:
Balance x Interest Rate x days in the month ÷ days in the year = Interest Earned
Standard Interest and Bonus Interest: $100,000 x 2.50% x 30 days in June ÷ 365 = $205.48
Standard Interest: $50,000 x 1.50% x 30 days in June ÷ 365 = $61.64
Total interest for June = $267.12
The effective interest rate is calculated as follows:
Interest ÷ balance ÷ days in the month x days in the year x 100 = Effective Interest Rate
$267.12 ÷ $150,000 ÷ 30 days x 365 x 100 = 2.17%
What is transaction matching?
Transaction matching is when an actual financial transaction is matched to an expected income or bill that has been created in Bett3r. Bett3r uses the information you provided to automatically match to transactions
Why is it important for bill payments to be matched?
Bett3r uses 'matching' information you provide to automatically match expected bill or income. For example, if a $100 electricity bill was paid but the transaction wasn't matched to the expected bill in your Pay account, then Bett3r would think that the bill hadn't been paid, and it would therefore keep holding an additional 4100 in the Pay account to cover that bill. As soon as the transaction is matched to the expected bill in your Pay account then Bett3r will know that it doesn't need to hold that $100 for it anymore.
Why is it important for income payments to be matched?
Matching income transactions to expected income is how Bett3r knows if the income has been received. For example, if your employer paid $1,500 into your Pay account and the income transaction was matched to an expected income, Bett3r will know how much money of that to keep in the Pay account to cover your bills. If your income payment isn't matched to an expected income, Bett3r will think that the money received is an unexpected bonus and will transfer it to your Spend account, which would mean there wont be enough money in your Pay account to cover your bills.
How do I manually match a transaction that Bett3r couldn't automatically match?
Sometimes Bett3r doesn't have enough information to automatically match a transaction to an expected bill or income. Rather than match incorrectly, you will see a blue transaction on your Pay screen indicating that Bett3r is waiting for you to match the transaction to the correct expected income or bill. Click on the blue transaction to match it. In doing this, Bett3r will match the payment automatically next time.
I have dishonored on a bill from my Pay account but there is money in my Spend account, why is this?
This could be due to two reasons;
- If you haven't told Bett3r about that bill it doesn't know to move money from your Spend account to your Pay account to cover it.
- If the bill was higher than expected, Bett3r didn't know to move the additional amount from your Spend account to your Pay account to cover it.
I have dishonored on a bill from my Pay account but there is money in my Save account, why is this?
Bett3r will only top up your Pay account from your Spend account to protect your savings. Bett3r doesn't move money from your save account to cover bills and you need to do this separately.
If I transfer money to the Pay account, where does it go?
Bett3r will use the money you transfer to your Pay account towards any bills or contributions to your savings goals you have each cycle. Whatever is left will be transferred to your Spend account.
Why do funds leave my Pay account as soon as it arrives?
Funds would have been sent to the Spend account if you haven't set up any bills or savings goals. Bett3r holds money in Pay for bills and contributions to your savings goals and moves money that is not required before your next income to the Spend account. To keep money in your Pay account when your salary comes in, add your bills to Pay and setup your savings goals. This way Bett3r will know the right amount to hold for these things before sending money across to Spend.
How do I know what the status icons mean in my pay account?
Can I access the money in my Save account?
Yes, you can transfer money to either Pay or Spend from Save.
Will my money in the Save account be used to cover bills if I'm not on track?
No, the money in Save is not accessed if there are not enough funds in your Pay and Spend accounts to cover your bills. You will need to manually transfer money from your Save account to either your Pay or Spend account
Why has money moved from Spend to Pay when i wasn't expecting it to?
Money is moved from Spend to Pay when Bett3r thinks there isn't enough money in the Pay account to cover upcoming bills before your next expected income is due. This can occur for a number of reasons such as late income, addition of new bills into the Pay account, etc.
Can I transfer money from Bett3r to a non-AMP offset account
Yes, you can transfer money to external accounts including offset accounts directly from your Spend & Pay accounts.
Bett3r LanguageShow more
Transfers & BPAY
Manage your regular payments to Billers and other accounts.
Cover your Direct Debits by keeping money aside for them.
Set funds aside
Put money aside and choose how to pay later (includes cash and debit card).
Loan payment bills
If you have AMP home Loan repayments paid from your Bett3r Pay account, we'll make and manage those bills for you.