Distributor Newsletter

CPD accredited webinar recording: 2024-25 Federal Budget

 

The Australian Government handed down the 2024-25 Federal Budget in a complex economic environment, so we’re committed to sharing the key tips, trends and takeaways with you in a 1 hour recorded session.

 

In addition to what we shared with you yesterday, please see below a recording of our webinar hosted by Chief Economist Dr Shane Oliver and Deputy Chief Economist Diana Mousina where they shared:

  • an analysis of key components and identification of winners and losers
  • the potential inflationary impacts of cost-of-living relief measures
  • insights into the trajectory of Australia's deficit
  • an assessment of the budget's effects on various asset classes
  • and their predictions on the macroeconomic outlook for Australia and the global landscape, covering economic growth, inflation, interest rates, and asset class returns.

Alternatively, read a short 5 min rundown here.

Recap: Serviceability Policies and the AMP Business Finance Loan

Serviceability policies

  • Living expense statements are not required
  • Private Health Insurance and Investment Property costs are included in HEM
  • One year’s bonus – AMP will consider what has been paid in the last 12 calendar months with exceptions
Find out more

Processing times for new business

 

2 days:

  • PAYG and Self-Employed where no further information is required.
  • Pipeline applications
  • Standalone pre-approval apps

10 days:

  • Company and trust apps.
Find out more

Business Finance Loan

 

The Business Finance Loan enables advisers and brokers to use their current and / or future ongoing reoccurring revenue as security, so they can grow their business.

Find out more

We’re phasing out cheques

Cheque usage has significantly declined with an increasing number of Australians moving towards faster and more secure payment methods. We are making some changes to our cheque services in line with the national approach to phase out cheques in Australia.

 

Key dates

  • 11 May 2024 – from 11 May 2024 we will no longer issue bank cheques
  • 27 May 2024 – from 27 May 2024 customers who have an AMP Bank issued bank cheque in their possession you will need to contact us on 13 30 30 to arrange to have it paid into a nominated bank account.
  • 24 November 2024 - From 24 November 2024, we will no longer accept for deposit, personal cheques or cheques issued by other financial institutions.

For more information and FAQs refer to Ways to Bank with AMP – AMP

New home loan application journey

We recently announced our partnership with Simpology aimed at delivering a simplified end-to-end application journey which will both fast-track ‘time to yes’ plus give greater visibility and certainty of an application from submission to settlement.

 

Find out more

The people behind the bank

 

I’m Raymond Salcedo and I am a Broker Experience Specialist.

Raymond is relatively new to the role, and started as a Broker Experience Specialist in January of 2024. Raymond finds fulfilment and joy creating positive and excellent customer service experiences for both Brokers and Customers alike.

 

Raymond believes that it keeps him going throughout the day knowing he makes someone happy and satisfied with the service he delivers.

Broker Experience Team 

 

The Broker Experience Team is your end-to-end partner from onboarding, deal status updates, enquiries about processing times, governance or anything that can’t be answered via ApplyOnline®. At AMP we continue to do all we can in supporting our brokers like you, so you can focus on supporting your customers.

What you need to know
 
The credit provider is AMP Bank Limited ABN 15 081 596 009, AFSL and Australian Credit Licence 234517.  Approval is subject to AMP Bank guidelines. Information including interest rates is correct as at 17 May 2024 and is subject to change without notice. Terms and conditions apply and are available at amp.com.au/bankterms or by calling 13 30 30. Fees and charges are payable. Before making a decision about an AMP Bank product your customers should consider the terms and conditions. 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.
 
This email was sent by AMP Bank Limited, Level 2, 2-12 Macquarie Street, Parramatta NSW 2150 to bhavna_rai@amp.com.au.