Key points
- Eligible customers have more ways to earn points, through their banking as well as their spending, more choice in how they use points, and simpler access to value across shopping, travel and experiences.*
- Redeem or earn points from some of Australia’s best-known brands, including Woolworths Everyday Rewards, Origin Energy, Myer, Velocity Frequent Flyer.
- With household budgets under pressure, 78% of Australians say rewards help them manage rising living costs.1
Commonwealth Bank today announced the biggest change yet to Australia’s largest2 banking loyalty program CommBank Yello, that will see more than nine million CommBank customers eligible to earn points on home loans, savings accounts, insurance and credit cards.
The change to the program will mean that for the first time banking customers will be rewarded for the banking they do every day, not just their credit card spend. Eligible customers will be able to earn, track and redeem points within the CommBank app and NetBank, with points able to be used on everyday essentials such as groceries, utility bills and fuel, to life’s little luxuries such as dining out or a holiday.
Angus Sullivan, Commonwealth Bank Group Executive, Retail Banking Services, said the change marks a defining moment for loyalty in Australian banking – rewarding customers across more of their relationship with the bank, not just how they spend.
“Australians love a good points program, and now for the first time more than nine million of our customers can earn points on the everyday banking they’re already doing – their home loan, savings, insurance and cards – and redeem them on the things that matter, from groceries, utility bills and fuel through to a well-earned holiday. At a time when every dollar counts, that’s value we’re putting back in our customers’ pockets.
“The reimagined CommBank Yello will deliver enhanced banking rewards, working with established brands including Woolworths Everyday Rewards, Origin Energy, Myer, Velocity Frequent Flyer, DoorDash, bp, and Qatar Airways making rewards clearer, more useful and easier to use,” said Sullivan.
Commonwealth Bank commissioned research by YouGov found that almost half of Australians say loyalty programs are more important to them than 12 months ago, and 78 per cent say rewards help them manage rising living costs. While rewards are most redeemed on groceries (71 per cent) and retail purchases (44 per cent), the strongest unmet demand is for rewards that help pay household bills, fuel, rent or mortgage repayments.3
“There’s growing demand for help with everyday essentials like groceries, power bills and filling up petrol, so we’re responding to that challenge with a practical program that gives customers choice in how they use their points,” Sullivan said.
Rewarding more of the banking relationship
Unlike traditional card rewards programs, CommBank Yello recognises more of a customer’s relationship with the bank, rewarding eligible banking activity across multiple products.4
“CommBank Yello is designed for everyday value, not only occasional rewards. We want to help customers turn banking with us into practical value that they can redeem from brands they know and trust,” said Sullivan.
CommBank is also adding more choice for card customers, with a new premium charge card being explored for launch in 2027 as part of its wider cards suite. The new charge card will bring together exclusive travel, lifestyle and rewards benefits and will complement CommBank Yello, giving eligible customers a new way to access exclusive benefits through the bank they use every day.
The evolution of CommBank Yello comes as changes to interchange and surcharging announced by the Reserve Bank of Australia reshape the economics of card rewards programs. By rewarding customers across more of their banking relationship, CommBank Yello is designed to deliver sustainable customer value beyond traditional card spend.
