AMP
Service: AMP Banking
Technology: Browser-based, 128 bit encryption with digital certificates issued by Verisign. Supports both PC and Mac.
Balances/transaction updates: Balances and transactions are updated immediately they are processed. Transfers between personal AMP Banking accounts are updated immediately. Transactions to external accounts or BPay, processed prior to 4pm on a business day, are updated immediately. Transactions to external accounts or BPay, processed after 4pm on a business day or on a non-business day are processed the following day.
Average downtime for 2002: Service availability was well over 99% during 2002.
Average transaction time: Depends on the transaction, but could be anywhere from a few seconds to a minute.
Account integration:
- Customers can have free access to My Portfolio which provides a consolidated view of AMP Banking and AMP products along with non AMP products. Many AMP and AMP Banking products are added to the summary automatically.
- The unit holdings of any investment funds and superannuation with AMP and other institutions can be entered and the balances updated with the latest available prices.
- To make the picture complete, details can also be added of other products from other financial institutions, any personal possessions or investments, insurance plus any loans or other liabilities.
- Investment reports are also available on investments and superannuation with many financial institutions, including AMP.
Consumer Services:
- Ability to view account information and transaction histories
- Obtain a tax and interest summary for tax purposes
- Transfer funds between your AMP banking accounts
- Transfer funds from your AMP banking account to an account with another institution
- Pay bills using BPAY
- Create and maintain periodic payments, transfers and bill payments
- Stop personal cheques that have not been presented
- Change your personal details (e.g. address, phone numbers and your BankNet password)
- Re-order cheque and deposit books
- Send secure messages to AMP Banking
- Order bank cheques
- Download transactions to personal accounting software
- Online account opening for deposit, home loan and credit card products
Company Services: As per customer services
Extras: Customers have free access to My Portfolio which provides balance details and investment reports. Customers also have free access to My AMP which allows them access to: My Watchlist, where the price of shares, retirement, superannuation and managed funds can be followed as well as special offers, available only through My AMP and economic reports created by AMP's leading economists.
Unfortunately, the reviews only give the features of the banking sites. I have an HSBC, Commonwealth Bank, ANZ and UK based First Direct bank account.
I can say for a fact that the HSBC online banking facility is very poor in comparison to the others with possibly the worst most cryptic transaction list of all the institutions I know of! Looking at the transaction list is totally cryptic and users have to click on every transaction to see what it is - even an ATM withdrawal!!! Not only that but HSBC is extremely slow. However, their online savings account is excellent and offers me the most attractive interest rates.
My favourite is Commonwealth Bank Netbank for it's simplicity and speed. ANZ is also good but has far more clutter on the screen.