Commonwealth Bank is expanding its support for tradies with the launch of a new strategic partnership with Total Tools, providing even more value for tradies who are looking to start or grow their own business.
Under the arrangement with the large tools retailer, CBA business customers using a Business Visa Debit Card will be eligible to earn bonus/additional points as part of the Total Tools loyalty program “Insider Rewards”.
The launch of the partnership comes as new CBA data shows strong growth in the number of tradies joining the bank, growing 15 per cent in the past year. CBA is now the leading main financial institution for tradies in terms of market share.
Commonwealth Bank’s General Manager for Everyday Business Banking, Kerryn Saward, said the partnership was about delivering more value for businesses.
“Tradies continue to face a number of challenges as they run their businesses on-the-go and juggle full days onsite against a backdrop of increasing costs.
“This partnership will ensure tradies are rewarded for everyday purchases they make as part of running their business, without any administrative effort,” she said.
CBA’s support for tradies includes:
- A bonus offer when they spend $100 in a month on CBA Business Visa Debit Card to receive 100 bonus points1
- $0 Smart Mini reader offer2, along with an industry leading 1.1 percent flat rate transaction fee on all major cards3. The $0 Smart Mini offer runs until 29 September 2023 and adds to an existing $0 monthly account fee option for CommBank Business Transaction Accounts (BTA). Customers who process $2,000 worth of transactions through their new Smart Mini reader by 31 July 2023 and have a linked CommBank BTA are also eligible to receive $1004.
- “Smarter” BTAs to stay on top of cash flow and reduce time spent on admin, with payment alerts, automatic account reconciliation and access to easy to use invoice templates.
- A dedicated landing page with tips on how to start up and run a business and all the relevant banking products required to operate a trades business.
- Benefits for self-employed tradies who have had their home loan with CBA for more than 12 months, such as the ability to access finance of up to $100,000 for a business vehicle, saving time and hassle by providing only basic application information5.
