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 Enter subheading hereour 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