Not getting a good vibe from AMP Bank.
For a while now they have been announcing interest rate increases on savings account a month or so in advance, lagging behind many of the other banks.
By the time the interest increase comes around, there has been another RBA increase, eroding at the AMP offer.
In their latest email, they have announced an increase of 0.5% (max bonus 4.1%) happening on the 1 Feb 2023. What a joke.
There is also an increase in the deposit requirement from $250 to $1000 (which is not really a problem, as the amount can be withdrawn) - they don't have instant transfers working yet however.
And then there is mention of interest being paid no later than 10 April 2023. Every bank I know of, pays interest on the 1st of the month.
Anyhow, I am sure many people will read the new terms & conditions, and only see the increase rate. That is what AMP would be hoping for anyway.
Plenty of other banks. Go elsewhere. Simple.