FAQ's

You would have received email correspondence on 30 January 2023 from Nano/Connective and another email on 28 February 2023 from AMP notifying you of the changes to your loan.

Yes, we gave you your new loan details including account number, BSB, and repayment details when we emailed you at the end of February.

Your previous variable interest rate has been transferred over to your AMP Blue home loan. We communicated with you at the end of February to confirm your AMP Blue home loan account details including your variable interest rate. Variable interest rates are subject to change in accordance with your loan contract.

Your vault arrangement that you may have set up will no longer be available. Funds in your vault have been transferred to your AMP Blue home loan and will be available to you as redraw. However, we offer an alternative vault arrangement via offset deposit accounts, which you can apply for after the transfer date.

On 27 March 2023, you'll be a customer of AMP Bank and we will take over the servicing of your home loan.

Their businesses have evolved to being providers of technology to financial services companies rather than being home loan providers. To ensure you continue to have a great home loan product with the same competitive rates and no ongoing fees, they have made the decision to move your home loan to AMP Bank.

If you have any questions, you can contact AMP Bank on 13 30 30 and a member of the AMP team will be able to help you with any enquiries regarding your home loan.

A final loan statement will be sent to you via email from Nano/Connective after 27 March 2023. AMP will also have access to archive copies of your statements if you require a copy.

There are a few key differences which are outlined in the comparison table on our product features page. 

There are no ongoing monthly or annual fees, however fees for special services apply and also a mortgage discharge fee. Please refer to the Bank Home loan fees and charges guide for more information.

From 27 March, your current app will no longer be accessible, and all your home loan and banking needs will be managed via the AMP internet banking or mobile app instead. 

Your current Visa debit card will stop working on 26 March. By then you would have received your new AMP Visa debit card that you can use on or after 27 March 2023.

If you currently have an active Visa debit card, we’ll issue you with a new AMP Visa debit card and PIN before 27 March 2023. You’ll be able to use your card on or after 27 March 2023.

If you currently don’t have a Visa debit card and would like one, you can request a new card by sending us a secure message in My AMP or calling us on 13 30 30 once your loan is with AMP Bank on 27 March 2023.

From 27 March 2023.

Although the card may be visible, it is unable to be used and you will need to delete this manually from the wallet.

The merchant may attempt a refund using your card in-store. After 27 March this will be unsuccessful as the card will be closed. In this case, an alternate refund method will be required for the return or value.

Your available funds held in your existing offset sub account/s will be made available as redraw from your new AMP Blue home loan. You can access funds using your AMP Visa debit card or by making transfers and other payments online.

You can also apply for one or more offset deposit accounts online here. Once your offset deposit account/s are opened, you can choose to transfer some or all your redraw to your offset deposit account/s. You’ll receive a separate AMP Visa debit card for your offset deposit account.

From 27 March 2023, you will be able to access any redraw available on your loan (advance payments) via online banking, our mobile app or your AMP Visa debit card.

You can also apply to open an offset deposit account online and transfer any extra repayments you have made that are available to redraw into your offset account. Applying for an offset deposit account online is easy – we'll have to re-identify you in the process so you may need a few documents handy. Apply here.

Please make sure your loan and offset account are linked to benefit from your offset. You can check whether the two are linked on the My AMP app.

You'll still have access to manage withdrawals up to your daily limit via your existing app until 26 March 2023.

You can withdraw funds using your AMP Visa debit card from any ATM in Australia and overseas. Where Australian ATM providers charge fees for using their ATMs, AMP Bank will re-imburse you straight away. CBA, Westpac, NAB and ANZ don’t charge fees to use their ATMs. Fees apply for withdrawals from international ATMs.

You can make payments to your AMP Blue home loan in a number of ways:

1. By Direct Debit from an AMP Bank offset deposit account or an external bank account.
2. By Electronic transfer or NPP (real time payments), where available, from an external bank account.
3. By Periodical Payment from another AMP Bank or external bank account – where you ‘push’ the payments to your AMP Blue Home Loan.
4. By Salary Credit that you can arrange with your employer’s payroll team.

We’ll send you an SMS reminder 48 hours before your payment is due.

If you don’t make regular payments to your home loan and you have sufficient funds available in redraw, we’ll take the payments from your redraw. We’ll also tell you when we do this.

Setting up a Direct Debit arrangement makes it easier to make your loan payments as you won’t need to make any adjustments if the rates and repayments change. You can manage your repayments and request for a direct debit to be set up online, in My AMP.

If your external bank account is eligible, you can make instant (real time) payments via the NPP (New Payments Platform).

If you have an AMP deposit account, NPP payments to your home loan or outgoing payments to other banks will be made available soon. Don’t worry, we’ll notify you when this is available.

For Interest Only loans there will be no change to your repayment date, unless the date falls on a weekend or public holiday. The repayment will adjust to be taken the first business day after.

For Principal and Interest loans your repayment date will be the 27th of the month, inline with settlement of 27 March. If the repayment date falls on a weekend or public holiday, the repayment will adjust to be taken on the first business day after.

Any funds held in your AMP Bank offset deposit account are used to reduce the interest calculated on your eligible home loan.

You have the ability to open and link up to 10 offset deposit accounts, with the combined balances of all accounts being used to reduce the interest calculated on your eligible home loan, with the added convenience of being able to use the funds in your offset account when you need to.

To find out more information, or to apply for an offset depsit account, click here.

As soon as you receive notification that your offset deposit account has been set up, you can link this to your AMP Blue home loan. In order to do this, you will need complete the online request form in My AMP or in the My AMP app.

It may take up to 5 days to process your request. Once the account is linked, you can view under the ‘Account Details’ section of your offset account on the My AMP app.

IMPORTANT TO NOTE: A separate offset deposit account will not be opened automatically for you when the loan is transferred. Funds held in your existing offset sub-account will transfer to AMP Bank as redraw available in your new AMP Blue home loan. You can access the funds online and with your new AMP Visa debit card. You can also move available redraw from your loan to an offset deposit account online.

You can choose to apply for new offset deposit accounts any time after your home loan has transferred to AMP Bank and then link the offsets to your AMP Blue home loan.