New CommBank Rewards offers cashback

Posted: 16 December 2019 9:34 am
Two Womem Looking At Smartphone While Clothes Shopping

But you'll need a Mastercard account and the app to access those deals.

Commonwealth Bank is expanding its loyalty programs, with a new cashback offer for users of its NetBank app that will provide customised offers based on your spending habits.

Officially launched on 16 December 2019, CommBank Rewards is available for people with personal CommBank debit Mastercards and credit cards, as well as CommBank Business credit cards.

When you open the app and go to the "Products & Offers" section, you should now see the "CommBank Rewards" option which will show you currently available offers.

From there, you can activate offers and meet the requirements to get the cashback. These offers will be customised based on your shopping history, but current brands on board with CommBank Rewards include Coles, Caltex, Myer, JB Hi-Fi and Menulog.

CommBank's executive general manager of everyday banking, Kate Crous, said the loyalty program has leveraged the bank's Customer Engagement Engine (CEE), "combining advanced analytics, AI and machine learning" to personalise the offers.

"CommBank Rewards is designed to give customers relevant and personalised offers, relevant to what they regularly spend their money on. It means there is no complicated redemption process, simply activate, spend money and save," she told Finder.

"In partnership with Mastercard, we have worked with their larger merchant partners to develop a range of compelling and relevant everyday spend offers for CommBank Rewards."

These offers are allocated to the app regularly, and that "only relevant rewards are sent to customers as they become available". That means the offers you get may be different to the offers someone else has available.

"Some examples of the everyday rewards on offer include spending $50 at Caltex and getting $5 back, and spending $100 at Myer and getting $15 back," Crous said.

Other brands include Coles, JB Hi-Fi and Menulog.

Although CommBank Rewards was officially launched in December 2019, Crous said the feature "has been discoverable in the CommBank app since late November".

So some eagle-eyed CommBank customers may have already found the feature, activated it and seen offers. In fact, this screenshot from an Android phone was taken the week before the app launched.

A screenshot of the CommBank Rewards opt-in page on an Android phone.

If you have an eligible CommBank account, you can opt in to get cashback through the program at any time by navigating to the "Products & Offers" section of the app (make sure you have the latest version of the app first). Select "CommBank Rewards" and confirm that you want to opt in, then check for available offers and activate them.

You can then shop with the partner in-store or online to meet the eligibility requirements. After that, your cashback will land in your account within 5-14 days.

Learn more about how CommBank Rewards works and compare CommBank credit cards in Finder's guide.

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