Commonwealth Bank today announced a new Travel Booking service available via the CommBank app, which allows more than 6 million eligible customers to search, book and pay for flights and hotels from hundreds of airlines and hundreds of thousands of hotels.
The new CommBank digital experience is powered by global online travel agency Hopper, already used by millions of customers worldwide, and focuses on providing a range of innovative travel features.
Travel spending in increasing
The latest CommBank iQ Cost of Living Insights Report shows an uptick in expenditure on travel experiences – spending was up 4% in 2023, boosted by a 16% annual lift in spending on online travel bookings. Travel is also one of the most popular types of savings goal customers set in the CommBank app.
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% back in travel credits on any hotel booking.
Recent research from Hopper shows that price is by far the largest driver (72%) in determining where Australian travellers decide to book, followed by having a wide selection of destinations to choose from (13%). Most Australian travellers (65%) say they would value a best price guarantee above all other rewards, followed by free price predictions (33%).
Hopper is a travel platform that provides millions of travellers with a world-class booking experience. Its officials said that what sets them apart is how they use 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. They are happy to work with CommBank to bring their booking options to Australian users.
Customers can choose Travel Booking features including:
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A Price Prediction feature that uses algorithms, analysing millions of data points to predict future flight prices helping customers to choose whether they should book now or wait;
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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;
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A Price Watch feature that allows customers to monitor flight prices 24/7 and receive a notification when a good deal becomes available;
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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.
Representatives from Commonwealth Bank said they’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. They’ve also integrated their customer recognition programme CommBank Yello and their credit cards Awards programme, CommBank Awards, into the app experience to make it easier for eligible customers to reduce their travel costs when paying.
Eligible CommBank credit and debit card holders also receive access to international travel insurance when they meet certain criteria.