Every $10 in an AMP Bank Acct = 1 QFF Point

[Catweazle]

Is anyone already with the AMP Bank?

They've teemed up with Qantas, according to the latest news. Perhaps to get people on board with them. Their share price has been on the decline for decades so this must be a new incentive. They'll definitely pick up a selection of customers from this, given QFF's popularity.

Is this a new thing? They've been around since the early 1990s as a business, but I think I read that they only established a bank in February. What am I missing here?

They say that $10 in an Everyday Business Account with AMP Bank can earn 1 Qantas Points. As a bonus offer, they'll double this until July as a 'welcome offer'.

Does this mean that you cannot earn QFF points on a personal account with AMP? Looks like you also have to be a QFF Business Rewards member.

 

[markis10]

AMP banking has been around since last century, they had a cobranded Amex which had some benefits but sold the cards side to Amex in 2002

AMP Banking sells credit cards to Amex

www.smh.com.au

 

[downloadingdata]

Is anyone already with the AMP Bank?

They've teemed up with Qantas, according to the latest news. Perhaps to get people on board with them. Their share price has been on the decline for decades so this must be a new incentive. They'll definitely pick up a selection of customers from this, given QFF's popularity.

Is this a new thing? They've been around since the early 1990s as a business, but I think I read that they only established a bank in February. What am I missing here?

They say that $10 in an Everyday Business Account with AMP Bank can earn 1 Qantas Points. As a bonus offer, they'll double this until July as a 'welcome offer'.

Does this mean that you cannot earn QFF points on a personal account with AMP? Looks like you also have to be a QFF Business Rewards member.

So using a valuation of $0.075 per QFF point, this gives an interest rate of 0.75% p.a. for their cheque account...

 

[L2.]

I could have $10k in the bank at ING, and get $45.00 in interest each month @ 5.40%, which after taking into account income tax will probably be more like $31.50, maybe a bit less depending on your tax bracket.

Or I could have $10k in the bank at AMP, and get 1000 QFF points each month in lieu of interest.

My impression is that I'd be forgoing $31.50 for each 1000 QFF points earned, which to me doesn't seem anything like a bargain, although someone who manages to score something like elusive J or F seats to London using those points might still find it worthwhile.

Also, it would appear from their website that their personal everyday account is eligible for the offer:

Qantas Frequent Flyer

www.amp.com.au

 

[SYD]

Already being discussed here

Thread 'AMP Bank Everyday Account - earns Qantas Points'

Thursday at 9:25 PM

With Bankwest discontinuing its Qantas Transaction account later this year, it's time to look for an alternative.

AMP Bank has just launched a new partnership with Qantas Frequent Flyer. It looks like you can earn Qantas points on the balance of an AMP Bank Everyday Account, in lieu of earning any (cash) interest.

You earn 1 Qantas points per $10 of the average monthly balance. There's a limited-time offer of double points until 31 July 2025.

Qantas Frequent Flyer

www.amp.com.au

There are no monthly fees, ATM withdrawal fees or...

• Mattg
• Replies: 5
• Forum: Other Banking Products

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