Customers can earn one Qantas Points for every $10 of their average monthly AMP account balance up to $5m.

This move, which is geared towards those running small businesses alongside everyday Aussies, means AMP customers could score two return business class flights between Sydney and Los Angeles each month.

AMP’s director of small business and personal banking John Arnott said the bank was excited to be partnering with Qantas Frequent Flyer.

“We’re making it easier for everyday banking customers and small businesses to simply earn points on their balance in a transaction account, with no account fees or hidden charges,” Mr Arnott said.

“We’re excited to be offering small business owners points in a never-before seen way. A first that we’re proud to be taking to market.”

These points are calculated and deposited each month based on the customers’ average balance.

Aussies can start earning points by downloading the AMP Bank app and linking their account with their frequent flyer or business rewards membership number.

Qantas Loyalty’s executive manager of financial services Simon Rowlands lauded the initiative and the collaboration with AMP.

“Australians love earning Qantas Points and partnering with AMP Bank provides customers with even more opportunities to boost their points balance and make their everyday banking more rewarding,” Mr Rowlands said.

To mark the launch, customers can earn double points on their monthly account balance until the end of July, bringing the maximum payday to one million points per month for some account holders.

The collaboration between Qantas and AMP comes as the airline group offers points on eligible purchases with other banks including Qudos Bank and Bank of Queensland.

AMP launched it mobile-first bank in February with small business owners in its sights.