I withdrew my funds to another bank account in my name elsewhere in pursuit of a higher interest rate (as this account only pays the bonus interest in the second month) but found not only that my funds had been returned but my account now had restrictions on it preventing internal and external transfers.

Interestingly enough, smaller transactions I made before and after the large transaction were successful whereas my large transaction was not. Additionally, I had raised my transaction limit in the app to an amount higher than what I had transferred so it should have worked based on that.

I have attempted to use the secure messaging system, live chat and the call centre to get information on why this has occurred but they refuse to provide any information on that or even a rough timeframe or compensation for financial losses if I cannot meet my bonus interest requirements due to the restrictions placed. There's also apparently no one I can contact for information about this issue whilst their internal team conducts a review and no information on what they need from me until they contact me at some point in the future (no timeframe).

I have made my complaint to AFCA and am hoping for a swift resolution in the meantime though. However, I expect that based on my experience with no transparency and accommodation so far, I'll be waiting for a long time like others here who faced the same issue and without an adequate response outside of AFCA.

All we seek is to have access to our father's account by phone or online.
It has been impossible to achieve after one month, 12 phone calls and 2 official complaints.
 
My brother and I have applied for access to our father's account as he has been deemed incapable of acting for himself. We sent all the necessary certified documentation on January 4th by registered mail and made our first call on January 8th to check the progress.

The bank wrote back by mail (the slowest option), not email or phone seeking for the access forms to be signed by pen and not by PDF sign. They also asked for certified copies of IDs. This means they acknowledged receipt of the court order.

The documents were sent by registered mail again and received a reply by email this time, meaning they acknowledged the applications forms being received. This time they again asked for a certified copy of the court order.

This was sent immediately by registered mail, but no reply has been received.

Here is where we experience the real trouble with AMP and its very bad service:

In the meantime, both on 8th Jan and today 2nd Feb we have attempted to go through the validation process which requires to give personal details. This means our details have been on the account from the beginning, so why so much trouble? Both times we were asked what the last transaction on the account was, requiring date, amount and to/by whom.

As we only have statements issued after the end of the previous month, there is no way to provide this information, Decembers statement was only received by mail on the 16th of Jan and last month’s statements will not be seen for a while. By the time statements are received, more payments will be made to the account, and we will have no way to provide that information.

We have pleaded for someone to acknowledge the absurdity of such a question, but we are told to put it in writing.
We have asked to have the matter escalated but were told this is not possible until we are validated.
We have asked for someone to call us to have the matter resolved but were told that there is nothing more they could do.

It has been one month now, and we are unable to pay mounting debts, we are unable to sign our father to a permanent aged care facility, and we are unable to move forward with costs involved with disposing of property and assets as we cannot gain access to this account. We have used our own money and now our savings are depleted, and we cannot move forward.

This is the real problem with dealing with a bank that has no physical presence, as there is no branch. Where it really fails is that customers can only deal with what seems to be outsourced customer service with no authority to act and no way to refer matters higher up.

Two complaints have been lodged, one by phone and the other online.

The conclusion is that this is a very uncaring, unsympathetic and disinterested bank that has no idea the damage it is causing us in this difficult time.

Way to go AMP!

I do not recommend AMP Bank, unethical

My business savings account was closed, without my permission or without informing me. I've contacted AMP on
multiple occasions via phone and email - as they have no branches - and was repeatedly given incorrect information by various agents about what had happened to my funds and how I could retrieve my funds. I am asked to fill out forms that I
already completed upon opening the account, I am told to email the forms, then after weeks of no news, I call up to hear the forms need to be send via post. After more weeks of no news, I am told I need to fill out some other forms etc. Long story short, I have been trying to get my funds back for the past 6 months and haven't gotten anywhere. The bank does not even get back to me. This is unacceptable. I feel I am dealing with scammers, not a financial institution. I do not know where my funds
are and when (if at all) I will receive my funds back.

Like being in an abusive relationship

As a new customer AMP were great, as an existing customer they are rubbish. Most recently I wanted to extend my loan by $50,000, they took over 5 months and made multiple mistakes, didn't return phone calls and selectively responded to emails

At AMP no one is accountable, when I told them I was leaving AMP because of their recent performance they weren't apologetic, simply said they would send me the discharge forms

Approximate cost: $530000

Worst banking experience. Be aware that AMP are still in the dark ages with technology. They do not offer the ability to resolve" issues" online or over the phone. This means they can lock you out of your accounts so you have no access to your money, not notify you, and when you call will give no explanation and you have to instead wait for a letter by post to explain what is happening. And then you will need to complete what every they request in the letter, and send it back by post. This can take a long time, and so you can be left without money for as long as it takes. If you call you will just be told it is their process, and not even the management will bother to call you back, as it is just their process, you can lodge a complaint to their complaint department and they will get back to you in 21 days, but I have been told unlikely to help as this is just their process and it is somewhere in their T's & C's. Really scary that a bank can hold your own money for ransom and offer no explanation. I set up a saving account and deposited $60k straight away not realising you can't earn any bonus interest for the first month, when I tried to transfer my money back to my other bank I was unable to transfer. What can I do? Apparently nothing, it is their process. Still waiting for the letter to arrive one day so I know what is happening. I will be lucky if it only takes 4 weeks for the process to be resolved and to be given access to my money again. Madness! But this is AMP's process, be warned!

must say very surprised, great service and answered quickly to enquries considering they arnt a big bank institute

I must say I never would have predicted that I would be sitting down wrting a positive review on a bank.

However the service experienced at AMP this day was top shelf.

Thankyou

http://www.veloxtelco.com.au

The ability to use all NAB and Redi ATMs fee free, unlimited use is very attractive.

Approximate cost: $0

Good:
1) Directly linked transaction and savings accounts, the latter which gives very competitive interest (6% in May 2010).
2) Ability to use all NAB and Redi ATMs fee free, unlimited use.
3) No fees for other banking (as far as I can tell)
4) Excellent telephone support.
5) Simple, fast web-banking page.
6) BPay

Bad:
1) Can't make deposits at the post office anymore, only through direct debit or cheque/mail order as far as I can tell.
2) "Pay Anyone" is not enabled. This can be a good thing for some, this adds some security.
3) No SMS confirmations.

Approximate cost: $free

They set up a new on-line savings account for me. They set it up much faster then I expected. I needed to ring them about something and they offered to keep me on the phone while I worked through the paperwork. They sounded enthusiastic and very polite and helpful. Their product was one of the best of this type compared with those from other banks.

Approximate cost: $Nil