Some help here please. They pay bonus interest up to $500k cap but is it per account or per head? Say I have a personal saver and a joint name saver, would each get their $500k cap or combined?
Couldn't find the exact answer from their website, and called their CS seems outsourced and no definite answer.
Thanks
Just repeated what I also read from their Q&A
Why didn't you tell them you want a definitive answer?
Already tried to ask in different ways still got the same repeated answer almost like an outdated AI
According to the AMP Saver Account Reward rules,
You can only receive Saver Rewards on one AMPSaver Account
So I would say you will only get the bonus in one account.
No no, I got bonus on both accounts fine for many months already (just need to meet their deposit and growth requirements for both accounts). But always within the cap even combined. First time over the cap this month.
If you are already receiving bonus on both accounts (which means they are not enforcing the explicit rule about only 1 account), I am inclined to think that each of the accounts can earn bonus up to $500K. In other words, the limit is per account and not per individual.
That's…a bit far fetched. It might just have been my partner's quota in the joint name account as she doesn't have her own personal one.
If its per head, the allocation of $500k cap in the joint name account is unclear. It's possible that 50% of the money in the joint name account has no interest if my personal one has $500k in it.
Per account would be our best scenario, but that's betting with half a month of interest…
What do the T&Cs say exactly?
After needing their customer support: AMP is a 3 in one company:
First time, ONLY time and last time all in one.
What did they say when you called them?