CommBank Yello - Frequently Asked Questions

Why are my benefits locked?

Your benefits may be locked if you do not meet the eligibility criteria for CommBank Yello. To unlock CommBank Yello benefits, you must meet the eligibility criteria for one of the below benefit sets:

Everyday (base eligibility criteria)

You’re eligible if you:

• Have an eligible CommBank transaction account; and
• Complete 5+ outbound transactions each month from your eligible CommBank transaction or eligible CommBank credit card.

Everyday Plus

You’re eligible if you:

• Have an eligible CommBank transaction account; and
• Complete 30+ outbound transactions each month from your eligible CommBank transaction or eligible CommBank credit card.

Homeowner

You’re eligible if you:

• Have an eligible CommBank transaction account; and
• Complete 30+ outbound transactions each month from your eligible CommBank transaction or eligible CommBank credit card; and
• Have an eligible CommBank home loan.

You can only be eligible for one benefit set at one time.

You’re not eligible for CommBank Yello if:

• you are under the age of 18;
• we are notified that you are deceased;
• the residential or postal address we hold for you is in the European Union or United Kingdom; or
• you have opted out.

Note that as eligibility for benefits is typically assessed in the first week of a month, it can take more than a month to start receiving benefits again.
 

Which CommBank transaction accounts are eligible?

To access CommBank Yello, you need to have one or more of the below CommBank transaction accounts:

• Smart Access
• Everyday Offset
• Pensioner Security (card access only, not passbook access)
• Private Banking Account
• Complete Access (no longer available for sale)

Which CommBank home loans are eligible?

• Standard Variable Rate
• Fixed Rate
• Extra
• Basic Variable Rate (Economiser)
• No Fee (Low Rate)
• CommBank Green Loan
• Bridging Loan
• Digi Home Loan

Which of my transactions count towards my eligibility?

You need to make at least five completed outbound transactions a month from an eligible account or credit card to be eligible for CommBank Yello (and at least 30 completed outbound transactions to be eligible for Everyday Plus or Homeowner benefits). The below outbound transaction types count towards your CommBank Yello eligibility:

• Completed transactions made using a debit card or a credit card issued by CommBank, including transactions made by an additional cardholder and digital wallet transactions (but excluding cash advance transactions)
• Completed StepPay purchases. Each completed purchase is counted as one outbound transaction, regardless of the number of instalment payments that are made for that purchase
• Cash withdrawals at an ATM or CommBank branch; or
• Payments or transfers to a third party: 
  • Payments or transfers to an account where you’re the account holder, joint account holder or a cardholder are not considered a payment or transfer to a third party.
  • Payments or transfers to accounts that are associated with your customer record (but where you are not the account holder) are not considered payments or transfers to a third party. For example, if you’re a director of a business and make payments between your individual account and business account, or are a signatory or authorised third party on an account, including under a power of attorney

We may also from time to time consider other transactions to be outbound transactions.

It’s important to note that outbound transactions don’t include pending transactions, which are payments, cash withdrawals or deposits shown as pending on your account. You can view your pending transactions in the CommBank app or NetBank.

How does CommBank Yello work if I have a joint account/home loan, a home insurance policy with more than one policyholder, or a Home Loan Package with more than one Package holder?

We assess eligibility and access to CommBank Yello on an individual basis. If you and someone else jointly hold an eligible account or eligible home loan and you meet the CommBank Yello eligibility criteria, we determine your eligibility for benefits individually. If one of you doesn’t meet the eligibility criteria, or chooses to opt out of CommBank Yello, the other will still have access to the program as long as they meet the eligibility criteria.

If you don’t have an individual account, benefits such as CommBank Yello product cashbacks (e.g. home insurance, Home Loan Package or personal loan cashbacks) and prize winnings will be paid into your newest joint account – even if the joint account holder isn’t eligible for the benefit. You may be able to select which account your CommBank Yello product cashbacks and prize winnings are paid into via the CommBank Yello hub in the CommBank app.

Please note that if we pay benefits into your joint account, the payment itself may reveal to the other joint account holder your financial status or the products that you hold with us (e.g. whether you’re eligible for Homeowner benefits).

For cashbacks on home insurance where there's more than one policyholder, we pay the cashback to:

• The person who previously received the cashback, if we’ve already paid a cashback for that policy
• The primary policyholder, if they’re eligible and we haven’t previously paid a cashback for that policy, or
• The additional policyholder, if the primary policyholder isn’t eligible. If there’s more than one additional policyholder, we’ll choose one.

For cashbacks on Home Loan Packages where there’s more than one eligible Package holder, we pay the cashback to:

• A Package holder we select, if we haven’t previously paid a cashback for that Package;
• the Package holder who previously received the cashback, if we’ve already paid a cashback for that Package; or 
• the other Package holder if the person who previously received the cashback becomes ineligible.

For cashbacks on Digi Home Loans where there’s more than one eligible account-holder, we pay the cashback/s to the account holder whose first and last name appears first in alphabetical order. This means if you change your first and/or last name and as a result your name is no longer the first in alphabetical order, then the other eligible account holder will receive the Digi Home Loan cashback/s. Similarly, if you are no longer eligible for the Digi Home Loan cashback/s then the next eligible account holder in alphabetical order will receive the cashback. 

Why can’t I access CommBank Yello on my CommBank app?

To access all of your CommBank Yello benefits, make sure you’re using the latest version of the CommBank app.

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Are there any potential tax implications of winning a prize or for receiving a benefit?

• There may be tax implications of winning a prize or receiving a benefit, in particular if: i) you are not an Australian tax resident; ii) you are not receiving the prize in a wholly personal, private or domestic capacity; or iii) your accounts or products are connected to a business or investment. You should check with your accountant or tax adviser for further information.
• You should consider the potential tax implications of receiving a CommBank Yello cashback on fees relating to your home loan – especially if you’re claiming a tax deduction on that fee connected with your loan (such as an investment home loan). You should check with your accountant or tax adviser for further information. 
• You can find all  your CommBank Yello Homeowner cashback transactions online in the CommBank app or NetBank. In NetBank, go to ‘View accounts’ then ‘Transactions’ and search ‘CBA Yello’. 
  • For the Home Insurance cashback, the transaction will appear as: ‘CBA Yello Insur Cashbk' 
  • For the Home Loan Package cashback, the transaction will appear as: ‘CBA Yello HLPckg Cshbk'
  • For the Digi Home Loan cashback, the transaction will appear as: ‘CBA Yello Digi CbkXXXX', where XXXX is the last four digits of your Digi Home Loan account number.
• Recipients of a prize or benefit may wish to consider Product Ruling PR 2022/6 issued by the Australian Taxation Office (ATO), which can be viewed on the ATO website.
• The following information has been provided by the ATO. CommBank Yello is described as a “Scheme” and a “Product” solely for the purposes of the Product Ruling PR 2022/6.
• The product ruling is only a ruling on the application of taxation law and is only binding on the ATO if the Scheme is implemented in the specific manner outlined in the product ruling.
• The Commissioner of Taxation (Commissioner) does not sanction, endorse or guarantee this product. Further, the Commissioner gives no assurance that the product is commercially viable, that charges are reasonable, appropriate or represent industry norms, or that projected returns will be achieved or are reasonably based.
• Potential participants must form their own view about the commercial and financial viability of the product. The Commissioner recommends you consult an independent financial (or other) adviser for such information.

Which account will my benefits be paid into?

Benefits such as CommBank Yello product cashbacks (e.g. home insurance, Home Loan Package or personal loan cashbacks) and prize draw winnings will be paid into your newest CommBank individual account.

If you don’t have an individual account, the benefits will be paid into your newest joint account – even if the joint account holder isn’t eligible for the benefit.

You may be able to select which account your CommBank Yello product cashbacks and prize draw winnings are paid into via the CommBank Yello hub in the CommBank app. Changes to your selected CommBank Yello account will be reflected from the start of the month after you submit your selection. 

We’ll make every effort to pay your CommBank Yello product cashbacks and prize draw winnings into the account you select, but in some circumstances this may not be possible (for example, if you’ve closed the account at the time of benefit payment). In such cases, we’ll pay the benefits as if you hadn’t made the selection.

CommBank Yello Cashback Offers will be paid into the account associated with the Mastercard® you paid with.
 

How do I know if I’ve won the prize draw?

You’ll be notified via the CommBank app, NetBank, email, and post to your nominated address on file to let you know that you’ve won. You can also see a list of winners. This list will be updated within 30 days of each monthly draw.

You don’t need to do anything if you win. Cash prizes will be automatically paid into your bank account. Some ad hoc prize draws won’t give away cash – in that case, we’ll contact the winners to discuss how you’ll receive your prize.
 

I’ve been notified about CommBank Yello benefits, or told that I’ve won the CommBank Yello prize draw. How do I know it’s not a scam?

You can check your CommBank app using your secure login details for more information. Here, you’ll be able to see which benefits you’re eligible for, or verify that you’re a CommBank Yello prize draw winner.

As an important reminder, we’ll never ask you for any information, like bank account details.

Protecting you is our priority. Visit our CommBank Safe page to learn more about how we protect you and tips for how to protect yourself.
 

What’s Kit and the Kit benefit and how do I get free access?

Eligible CommBank Yello customers can activate a free Kit membership for 12 months.

Kit is an earning-and-learning, mindfully-spending, money-mastering app for kids. Kit comes with a digital and physical prepaid card available in-app, and it’s built by CommBank.

If you are a CommBank Yello eligible customer, head to the CommBank app and tap 'CBA Yello'. Scroll to ‘Get more from CommBank Yello’ and tap on the Kit offer to view your unique promo code. New Kit customers will need to apply the code when setting up an account with Kit through the Kit app. Existing Kit customers will be able to apply their code via settings in the Kit app. 

Kit and CommBank are working together on an ongoing free membership offer for Everyday Plus and Homeowner benefit sets.
 

How do the Smart Awards credit card bonus points work?

• If you’re eligible for Everyday Plus benefits, you may be eligible to receive 500 CommBank Awards bonus points each month on your Smart Awards credit card.
• If you’re eligible for Homeowner benefits, you may be eligible to receive 1,000 CommBank Awards bonus points each month on your Smart Awards credit card.

If you’ve opted in to earn Qantas Points on your Smart Awards credit card, bonus points will be converted to Qantas points at the standard conversion rates.

Only primary cardholders are eligible for the CommBank Yello Smart Awards bonus points. You need to hold an active Smart Awards credit card at the time we assess your CommBank Yello eligibility, which typically happens in the first week of each month.

View CommBank Awards T&Cs
 

What’s the home insurance cashback?

If you’re eligible for Homeowner benefits, you could receive a $10 monthly cashback for each eligible home insurance policy distributed by CommBank and provided by Hollard.

This will appear as ‘CBA Yello Insur Cashbk' in your transactions.

What cover types are eligible for the home insurance cashback?

The eligible home insurance cover types are:

• Building Cover
• Contents Cover
• Combined Building and Contents Cover

that are distributed by CommBank and provided by Hollard (formerly known as CommInsure).

Cashbacks aren’t available for insurance that covers portable contents as a standalone policy.

You must hold the eligible home insurance policy on the last day of the previous month and continue to hold the policy until the cashback is paid in order to qualify for the cashback benefit in a particular month.

What are the Digi Home Loan cashbacks?

If you’re a Homeowner customer with a Digi Home Loan, you could receive a $10 monthly cashback on your Loan Service fee (up to $120 annually). Plus, you could get a loyalty cashback which increases over time, once your loan has been fully funded for a year.

The cashback will be paid per Digi Home Loan, rather than per customer. Your Digi Home Loan must be open on the last day of the previous month to be eligible for the cashback benefits. If there is more than one eligible Digi Home Loan account holder, we pay the cashback to:

• The account holder who previously received the Digi Home Loan cashback; or
• The account holder whose first and last name appears first in alphabetical order.

This will appear as ‘CBA Yello Digi CbkXXXX', where XXXX is the last four digits of your Digi Home Loan account number.

Eligibility is typically assessed monthly and customers must also meet the CommBank Yello Homeowner eligibility criteria.

There may be tax implications in receiving cashback benefits. You should check with your accountant or tax adviser for further information.

What’s the Home Loan Package cashback?

If you’re eligible for Homeowner benefits, you could receive a $4 monthly cashback on your Home Loan Package fee (Wealth Package or Mortgage Advantage). The cashback will be paid per Package. Cashback is not available where the Package is pending or closed, or where the Package fee has been fully or partially waived.

This will appear as ‘CBA Yello HLPckg’ in your transactions. 

What is a Property Report?

The CommBank Yello Property Report highlights information on your property or the real estate market.

You may qualify for a property report if you meet the below eligibility criteria:

• You’re a Homeowner customer
• Your property is classified as residential, defined as dwellings used for domestic occupation, and
• Your property has a valid and up-to-date address recorded in our system to allow our service partner to match against their records, and there’s enough information on that address for our service partner to generate a report.

Property reports are prepared by our service partner. If we don’t have a record of your full address, you may receive a suburb report instead, which focuses on your suburb rather than your specific property. 
 

Where can I find my Property Report?

Property reports will be available via the CommBank Yello hub in the CommBank app twice a year. 

If you sell your property, refinance to another financial institution, and/or close your CommBank home loan, you’ll no longer receive property reports for that property, but you may continue receiving them for other eligible properties.
 

I haven’t received a Property Report, or I’ve only received a suburb report. How do I get a Property Report for my specific property? 

Please message us in the CommBank app or visit your local branch to provide us with your full address details. This will help ensure you receive a Property Report when you’re next eligible.

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Can I opt out of CommBank Yello?

Yes – to opt out of CommBank Yello, please message us in the CommBank app or visit a branch.
 

I opted out of CommBank Yello, but I’ve changed my mind. Can I opt back in?

Yes – we’d love to have you back! You can message us in the CommBank app or visit us at a branch to opt back in.

Just a reminder that you’ll still need to meet the CommBank Yello eligibility criteria, and it may take over a month before you can access benefits again.

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