Who is Account Management Plus, Inc. (AMP)?
Account Management Plus, Inc. (AMP) is committed to exceeding and delivering exceptional service to every client. AMP conducts transactions in compliance with FTC regulations for various industries. These unique industry standards require custom solutions to provide data to both your company and your clients. Utilizing our proprietary software, we deliver form fitting solutions for your transaction needs while keeping you compliant. Our team of widely skilled account managers are here to assist the client and company with anything needed.
What is a “Special Purpose Account” (SPA)?
AMPs’ most popular product is its FDIC insured SPA accounting, which provides consumers with a way to save and manage their funds intended for various programs. The SPA allows clients to retain complete control over their funds while the servicing company working on their behalf is granted view only access. This view only access allows companies to keep track of when clients have enough funds to satisfy their program with their payees.
How do I get an SPA account?
Upon receipt of your approved application form, AMP establishes and maintains a FDIC insured SPA account that allows you to save funds to satisfy your program. You will also receive a statement each month with your balance and any transaction information on the account.
How do I access my SPA account?
Your account can be accessed online by: 1.Go to our website at https://login.myampaccount.com 2. Enter your unique Username, and password provided to your email account on file. You will have the option of changing your online password once you login to the website for the first time. You may also contact our Customer Support line at 877-877-7716 for further assistance.
How do I fund the account?
There are several ways to fund the account. The most popular is by you authorizing AMP to automatically withdraw your monthly payment from your designated bank account and depositing them into your SPA account.
How do I make payments and submit fees to my servicing company from my account?
All payments and fees are approved by you. Your funds will be held in your SPA until an agreement has been made with your payee. As soon as AMP receives notice that an agreement has been reached and approved, AMP then sends the payment to the appropriate payee. Also your approved fees are forwarded to your servicing company.
Can I withdraw funds or cancel my account?
Yes. The funds on deposit in your SPA account belong to you. AMP is entrusted to hold these funds in our account for you. You can also cancel your SPA. Before you cancel your accounting services, we always ask that you consult with your Servicing Company to ensure you have a full understanding of how closing your account may impact current agreements that have been made with your payee. Any changes or withdrawals from your SPA can be made by contacting AMP’s Customer Service department directly. There are zero fees or penalties when you miss a monthly payment or you decide to drop out of the program. That is clearly outlined in your contract.
How safe are the accounts?
Your SPA account is safe, secure and insured by the FDIC up to the maximum amount.