If you want to transfer money to another person from your AMP Bank account, there’s a default limit of $5,000 per payee account per business day.
You can increase this limit up to $250,000 per payee account per business day within My AMP. You are also able to lower the limit below $5,000 within My AMP.
Increasing your daily limits may increase your liability for unauthorised transactions.
On My AMP website:
- log into My AMP
- select the Banking tab
- choose ‘Manage payees and accounts’ from the ‘I want to’ menu
- scroll through to your external accounts and click on the pencil icon next to Daily limit and update Daily limit (max $250,000)
On My AMP app:
- log into My AMP
- click ‘More’ on bottom right and select ‘Pay someone’
- select From and To accounts
- your Daily transfer limit will be showing on screen along with the pencil icon. Select this and update your Daily limit (max $250,000)
- continue with your transaction.
Note: The maximum limit is $250,000. Increase request over $100,000 will be reviewed for added security and updates usually take 3 business days.
You can also increase your daily limit by completing the appropriate ‘Register or cancel an External Bank Account’ form and sending this back to us.
- Register or cancel an External Bank Account – Personal Customers and Sole Traders
- Register or cancel an External Bank Account – Companies, Trusts and Other Organisations
Daily limit for near real-time* payments:
For near-real time* payments, there’s currently a daily customer limit of $5,000. This is the maximum you will be able to send in near real-time each day. Any transaction, whether individual or cumulative initiated above this amount will be sent in accordance with our standard processing times**. To find out more, visit ‘Faster payments at AMP Bank’.
What you need to know
This information is provided by is AMP Bank Limited ABN 15 081 596 009, AFSL and Australian credit licence 234517. All information on this website is subject to change without notice.
*Where a payment is sent in near real-time, it may take longer to arrive in some instances, such as where there is a technical interruption to the service or when the payment is subject to additional security screening.
**For standard processing times refer to the below:
- Where a payment is not sent in near real-time, those made before 4.00pm (Sydney time) on a business day will be processed the same day and can take up to two business days to be received.
- BPAY® payment made before 5.00pm (Sydney time) on a business day will be processed that day and the biller should acknowledge the payment on the same business day it is processed (under BPAY® rules).
- Payments made after these cut off times, or made on a weekend or public holiday, won’t be processed until the next business day.
AMP Bank is a member of the Australian Banking Association (ABA) and is committed to the standards in the Banking Code of Practice.
® Registered to BPAY Pty Ltd ABN 69 079 137 518