AMP Bank has launched a business overdraft, AMP Bank GO, to meet the challenges and needs of small businesses.
The unsecured business overdraft is a flexible funding option to help manage the ups and downs of day-to-day cashflow, designed to help small businesses have access to funds when they need it.
“We’re building AMP Bank GO from the ground up to reflect how Australians actually live and work – especially those running small businesses,” said John Arnott, Director, AMP Bank GO.
“Too often, banking in Australia overlooks the needs of small business owners. We’re changing that by designing solutions that put their experience and success at the centre.”
Small business challenges
AMP Bank commissioned research to understand the challenges Australian small business owners face – a survey of 2,000 Australian sole traders and small business owners (20 employees or less) was conducted in January 2025.
It found that 70% of Australian small business owners are worried about cash flow and 3 in 5 small business owners worry about paying bills.
“Small business owners don’t need more complexity – they need simple, smart tools that help them stay in control,” Mr Arnott said.
“AMP Bank GO’s business overdraft is designed to do just that – giving business owners the flexibility to manage cash flow, smooth out income dips, and handle the unexpected without stress.”
Redefining banking for small business
AMP Bank first launched its challenger mobile-first proposition in February, now named AMP Bank GO. It has been designed and built to help Australia’s millions of small business owners – including solopreneurs, side hustlers and mini businesses – more effortlessly run their business on the go.
AMP Bank GO’s instant app notifications help business owners stay on top of their spending, helping them adjust how much they want to spend with the in-app business overdraft cap feature.
AMP Bank GO’s business overdraft has a competitive, transparent interest rate and interest is paid only on what is used. The business overdraft is accessible through the Everyday Business Account; eligible customers can apply in less than 10 minutes to access from $2,000 to $20,000. It’s initially available for sole traders and will continue to evolve further over time.
