Lender review

AMP

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LoanCaddie Opinion

AMP Bank isn't differentiated from the other major bank in terms of level of service. It reputation has recently been severely ruined by its behavior over a number of years that has been through the Royal Commission. It will take a complete overhaul to change the internal culture at AMP. We consider it difficult to recommend AMP unless they offer a compelling interest rate or are willing to lend to you when no else will.

Facts and lender background
History

The Australian Mutual Provident Society was formed in 1849 as a non-profit life insurance company and mutual society. In 1998, it was demutualised into an Australian public company.

Size

AMP has a loan portfolio of about $20 billion.

Credit Rating

AMP Bank is rated A by S&P. The Australian Government's guarantee on deposits under the Financial Claims Scheme applies to deposits held with AMP Bank.

Ownership

AMP is publicly listed on the ASX.

Funding

33% of AMP's funding is from the wholesale capital market.

Customer service
Product Review Rating
1.5

average is 2.1 / 5

Branch network

You are able to transact at more than 3,200 Australia Post outlets that display the Bank@Post sign. This provides you with real-time deposits and the ability to draw cash.

Internet banking

Internet banking is available.

ATM/EFTPOS