The latest CommBank iQ Cost of Living Insights Report shows an uptick in expenditure on travel experiences – spending was up 4 per cent in the past year, boosted by a 16 per cent annual lift in spending on online travel bookings.3
Travel is also the most popular type of savings goal customers set in the CommBank app.4
Customers who hold a credit card that earns CommBank Awards points can pay with their points to help reduce their out of pocket travel expenses.
As part of a special Travel Booking launch offer, eligible CommBank Yello customers will receive 10 per cent back in travel credits on any hotel booking.5
Recent research from Hopper shows that price is by far the largest driver (72 per cent) in determining where Australian travellers decide to book, followed by having a wide selection of destinations to choose from (13 per cent). Most Australian travellers (65 per cent) say they would value a best price guarantee above all other rewards, followed by free price predictions (33 per cent).6
Dakota Smith, president and co-founder of Hopper, said: “Hopper is a leading travel platform that provides millions of travellers with a world-class booking experience.
“What sets Hopper apart is how it uses data to offer travellers enhanced transparency, flexibility, and savings when planning, booking and taking their trips. To accomplish this, the company developed several unique data-driven solutions that address everything from pricing volatility to trip disruptions. We are thrilled to work with CommBank to bring our innovative booking options to Australian users.”
Customers can choose Travel Booking features including:
- A Price Prediction feature that uses sophisticated algorithms, analysing millions of data points7 to predict future flight prices helping customers to choose whether they should book now or wait;
- An Auto Price Drop feature that automatically provides a customer with the price difference in a flight when they’ve been told it’s a good time to book and the price then drops in the following 10 days;8
- A Price Watch feature that allows customers to monitor flight prices 24/7 and receive a notification when a good deal becomes available; and
- A Best Price Guarantee feature that allows customers who find a cheaper flight price within 24 hours of booking to receive a travel credit for the difference in price.9
“We’ve made it easier for eligible customers to search across numerous domestic and international airlines and hotels to uncover some of the best deals out there. We’ve also integrated our customer recognition program CommBank Yello and our credit cards Awards program, CommBank Awards, into the app experience to make it easier for eligible customers to reduce their travel costs when paying,” Mr Meneguzzi said.10
Eligible CommBank credit and debit card holders also receive access to international travel insurance when they meet certain criteria.11
Travel Booking complements other services that are available or can be accessed via the CommBank app to provide customers with more value, including telecommunications (More), electricity (Amber) and car buying services (Vyro and carsales).
About our collaboration with Hopper
- CommBank teamed up with Hopper to help customers access a world-class travel booking experience via the CommBank app. To find out more, visit CBA Newsroom.
- Hopper has ranked as the No.1 travel app in 70 countries and is at the forefront of travel technology12.
- To find out more about Hopper, visit: hopper.com/about
1 Travel Booking can be accessed via the CommBank app by searching Travel Booking in the search bar, or by visiting commbank.com.au/travelbooking. It is available to all CommBank app and NetBank users 18 years or older with an eligible active retail or business debit or credit card, Travel Money card or StepPay account.
- Eligible retail credit cards: Ultimate Awards, Smart Awards, Awards, Diamond Awards, Platinum Awards, Gold Awards, Low Rate, Low Rate Gold, Low Fee, Low Fee Gold, CommBank Neo and CommBank Essentials.
- Eligible business credit cards: Business Platinum Awards, Business Awards, Business Gold Awards, Business Interest Free Days credit card, CommBank Business Neo, Business Low Rate and Business Liability credit cards.
- Eligible debit cards: Debit Mastercard, Platinum Debit Mastercard and World Debit Mastercard.
- Travel Money Card.
- StepPay.
2 Hopper was named the number one most innovative company in travel by Fast Company. See here for more.
Travel Booking features include:
- Best Price Guarantee – customers who find a cheaper flight price within 24 hours of booking and let the Support team know could receive a travel credit for the difference in price.
- Auto Price Drop – when a customer books a flight according to Travel Booking’s ‘Great price’ recommendation, if the price drops in the following 10 days, the difference could be refunded via a travel credit, up to $50 in travel credit.
- Price Prediction Tool – customers are provided with data-driven recommendations on when it may be a good time to book from algorithms that analyse millions of flight prices every day.
- Price Watch – customers can set a price watch to monitor flight prices 24/7 and receive a notification when a good deal may be available if they aren’t ready to book or the Price Prediction Tool recommends they wait.
3 The CommBank iQ Cost of Living Insights Report analyses transactions from approximately 7 million Australians or approximately 30 per cent of all spending, scaled to represent the population. The 4 per cent uptick is based on average monthly spend in quarter to March 2024, compared to corresponding period 2023. This rise was boosted by a 16 per cent annual lift in spending on online travel bookings.
4 ‘Holiday’ was the most popular category of savings goal set by customers in the CommBank app between May 2023 and April 2024, with around a quarter (23 per cent) of all goals set.
5 As part of an exclusive launch offer that is subject to change, eligible CommBank Yello customers – those belonging to either the Everyday Plus or Homeowner benefit sets – could receive travel credits back after booking a hotel which they can use for their next booking. 10 per cent back in Travel Credits applies to eligible CommBank Yello Homeowner and CommBank Yello Everyday Plus customers who use their eligible CommBank retail or business credit or debit card, StepPay card or Travel Money Card on the hotel booking via the Travel Booking website. Offer can be withdrawn at any time without notice. 10 per cent back in Travel Credits applies to the booking amount you pay for excluding any Awards points or Travel Credits redeemed. Travel Credits will be applied to your Travel Booking Wallet within 5-7 business days of your booking and has a two-year expiry from the booking transaction date. Expiry dates can be viewed in your Wallet & Offers page of the Travel Booking website. Travel Credits earned must be redeemed in full on eligible future bookings. Travel Credits are not transferable or exchangeable for cash. If you cancel or the supplier cancels the hotel booking for any reason, the 10 per cent back in Travel Credits will be forfeited. In the event that you no longer have at least one CommBank retail or business credit or debit card, StepPay card or Travel Money card, you will forfeit all your Travel Credits. For full terms and conditions go to: travelbooking.hopper.com/terms
6 Based on a survey of recent Hopper users in Australia who are planning to travel in the next six months.
- The No.1 concern (72 per cent) concern of Australian travellers is booking their trip at an affordable price.
- Most Australian travellers (65 per cent) would value a best price guarantee above all other rewards, followed by free price predictions (33 per cent).
7 Hopper Price Prediction.
8 Up to $50 in travel credit.
9 Terms and conditions apply. For more information go to: travelbooking.hopper.com/terms
10 Payment for travel can be made seamlessly in the app by using an eligible CommBank credit card, CommBank debit card, StepPay or Travel Money Card (if the customer has accumulated travel credits, these will be used first). CommBank Awards points are also a payment method (Pay with Points). CommBank Awards points held by the customer (Awards credit cardholders only) will appear as a payment option at the point of booking, allowing them to pay with points. CommBank Yello offers will provide travel credits be use on future bookings.
11 Eligible CommBank credit and debit card holders receive access to complimentary travel insurance. Credit card holders must spend at least $500 in a single transaction on prepaid travel costs and activate to receive any cover, including Overseas Medical cover. Debit card holders must activate to receive comprehensive cover, overseas Medical cover and personal liability insurance is automatically included. Read more details here.
12 As at April 2024.
13 Data.AI App Store Ranking - Highest Rankings.
