Banking
Commonwealth bank overhauls yello loyalty program to include home loans and savings
Commonwealth Bank will allow more than nine million customers to earn points on mortgages and savings accounts as regulatory changes squeeze traditional card rewards.
Reported from commbank.com.au→ — read the original alongside this account.
Commonwealth Bank is restructuring its CommBank Yello loyalty program, allowing more than nine million customers to earn points on home loans, savings accounts and insurance products instead of relying solely on credit card transactions.
The bank said the changes will take effect on 1 October 2026, with customer notifications starting on 18 August. Points will accumulate in a single balance inside the CommBank app and NetBank, where users can convert them into cash deposited into a nominated account, transfer them to partners, or spend them on groceries, fuel and utility bills.
The move comes as Reserve Bank of Australia changes to card interchange fees and surcharging reshape the underlying economics of card-linked rewards schemes.
CBA Group Executive for Retail Banking Services Angus Sullivan said the bank wants to reward customers across more of their overall banking relationship as household budgets face cost-of-living pressure.
Launch partners for the revamped program include Woolworths Everyday Rewards, Origin Energy, Myer, Velocity Frequent Flyer, bp, DoorDash and Qatar Airways. The bank is also exploring a premium charge card for launch in 2027.