AMP SuperEdge Cash Account
Why do I need a cash hub for my SMSF?
It acts as the source account for your funds’ investments and superannuation. You can also use it to pay for the running costs of the fund.
What are the fees?
There are no ongoing account management fees. Some fees and charges for special services may apply, such as a duplicate statement fee. Read the Deposit product fees and charges guide for more information.
How can I apply?
To apply, your SMSF must be regulated by the ATO as an Australian complying fund. Complete the online application which takes 10-20 minutes. Alternatively, you can download and complete an application form.
Note: The online application caters for SMSFs with up to 4 members. If the SMSF has 5 or 6 members, please apply using the AMP Bank Smart Form.
AMP SuperEdge Saver
What is the effective interest rate for balances over $1,000,000?
When your account balance is over $1,000,000, you will see an Effective Interest Rate displayed when you view your interest rate in My AMP or the My AMP app. The Effective Interest Rate is calculated based on a Weighted Bonus Interest Rate. The Effective Interest Rate is applied to the entire balance of your AMP SuperEdge Saver Account.
How is interest calculated on my AMP SuperEdge Saver Account when my balance is over $1,000,000?
If you hold an AMP SuperEdge Saver Account and you are eligible for the Bonus Interest Rate and your AMP SuperEdge Saver Account balance is over $1,000,000 this is how we calculate interest that will be applied to your account:
| Interest earned calculation | Effective Interest Rate | Weighted Bonus Interest Rate |
| (Account Balance x effective interest rate x number of days )/365 | Weighted Bonus Interest Rate + standard rate | (Bonus Interest Rate x $1,000,000 )/(Account balance) |
The Weighted Bonus Interest Rate rate is applied to the entire balance of your AMP SuperEdge Saver Account and reflects that the Bonus Interest Rate is only for the first $1,000,000 balance of your AMP SuperEdge Saver Account. The Weighted Bonus Interest Rate is calculated to two decimal places (rounded to the nearest number, unless the value of the Weighted Bonus Interest Rate at the third and subsequent decimal places is exactly 0.005, then it is rounded to the nearest even number).
Example of interest calculation when SuperEdge Saver Account balance is over $1,000,000
1.1450% is rounded to the nearest even number 1.14%
1.1550% is rounded to the nearest even number 1.16%
If you are eligible for AMP SuperEdge Saver bonus rate, and the Standard Interest Rate is 0.65% pa, the Bonus Interest Rate is 0.35% pa, and your balance is $3,750,000 at the close of business for every day of the month of June, you will see an Effective Interest Rate shown as 0.74% pa.
| Weighted Bonus Interest Rate | Effective Interest Rate | Interest earned |
| (0.35% x $1,000,000 )/$3,750,000 = 0.0933% (this is rounded to 0.09%) | 0.09% + 0.65% = 0.74% | ($3,750,000 x 0.74% x 30)/365 = $2,280.82 |
What are the fees?
There are no ongoing account management fees. Some fees and charges for special services may apply, such as a duplicate statement fee. Read the Deposit product fees and charges guide for more information.
How can I apply?
To apply, your SMSF must be regulated by the ATO as an Australian complying fund. Complete the online application which takes 10-20 minutes. Alternatively, you can download and complete an application form.
Note: The online application caters for SMSFs with up to 4 members. If the SMSF has 5 or 6 members, please apply using the AMP Bank Smart Form.
To access the form:
1. Right-click the link
2. Select 'Save link as...' and save it to your desktop
3. Go to your desktop and open the pdf in Adobe Acrobat
4. You will then be able to access and complete the form.
As it is a functional pdf form, it will unfortunately not work on a mobile device.
Can an SMSF open a business saver?
SMSFs are not eligible to apply for a business saver account, only the AMP SuperEdge Saver Account.
AMP SuperEdge Pension Account
How can I apply?
Your SMSF must be regulated by the ATO as an Australian complying fund. You can open the account in the names of the beneficiaries of the SMSF or in the name of the SMSF. Complete the online application, (for accounts opened in the name of the SMSF) which will take 10-20 minutes or download and complete an application form (for accounts opened in the beneficiaries name/s).
What are the fees?
There are no ongoing account management fees. Some fees and charges for special services may apply, such as a duplicate statement fee. Read the Deposit product fees and charges guide for more information.
Can I access my money via an ATM?
Yes, you can get ATM access to your money anywhere in Australia and worldwide where the Visa logo is displayed. Fees apply for international transactions. Some ATM operators may charge a fee for using an ATM in Australia.
Download the My AMP app
What you need to know
The product issuer and credit provider is AMP Bank Limited ABN 15 081 596 009, AFSL and Australian credit licence 234517.
It’s important to consider your circumstances and read the relevant Product Disclosure Statement or Terms and Conditions before deciding what’s right for you. This information hasn’t taken your circumstances into account. Information including interest rates is subject to change without notice.
Any application is subject to AMP Bank’s approval. Terms and conditions apply and are available at amp.com.au/bankterms or 13 30 30. Fees and charges may be payable. Full details are available in the Fees and charges guide.
This information is provided by AMP Bank Limited. Read our Financial Services Guide available at amp.com.au/fsg for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you. All information on this website is subject to change without notice.
AMP Bank is a member of the Australian Banking Association (ABA) and is committed to the standards in the Banking Code of Practice.
A target market determination for these products is available on our TMD page.