Commonwealth Bank (CBA) is supporting university students across Australia by reducing the cost of unavoidable and ongoing expenses like mobile and internet, helping them better manage their day-to-day finances and save for the future.
Throughout O-Week events, which take place at Australian universities through February and March, CBA and local telecom provider More are offering students 30 per cent off mobile and internet plans for 12 months when they sign up using their CBA credit or debit card as their online bill payment method.
Students can sign up to the discount offers online and will be able to visit CBA stalls on-campus during O-Week to learn more about the deals and other offers available.
More’s post-paid, SIM-only mobile plans are ideal for domestic and international students as they come with no lock-in contract and affordable pricing such as More’s most popular 22GB plan priced at $18.90 per month with the CBA discount applied. More also uses Australia’s most trusted network and offers international roaming packs.
The offer comes as recent research from CBA revealed that the overwhelming majority (90 per cent) of 18-24 year olds are concerned about the rising cost of living. Three in five (60 per cent) agree they’re struggling to save with the increased cost of living pressures, and less than half (49 per cent) report that they are saving money on a regular basis.
CBA General Manager Strategy and Sustainability, Ben Morgan, said: “Our research shows that young adults, many of whom are students, are looking to save money on their everyday bills and commitments such as mobile and internet – they just need access to great deals and discounts to help them make the switch. We’re pleased that by working with More, we can put money back into their pockets and help them save for their future goals.”
Separate CBA research revealed that 18-24 year olds feel they are paying too much for their current mobile plan, particularly when compared to those aged 45 and over (36 per cent versus 26 per cent, respectively). They are also more open to considering switching their mobile plan to help save money (52 per cent versus 39 per cent, respectively) and revealed they would change their mobile plan if they found a cheaper offer (68 per cent versus 54 per cent, respectively).
Yet despite their openness to switching, less than one in five (17 per cent) of 18-24 year olds have actually switched telecommunications providers (phone or internet) recently to help save money. This is despite three quarters (73 per cent) agreeing that their mobile plan is an unavoidable expense.
More CEO, Andrew Branson, said: “The common perception is that changing mobile and internet providers is more hassle than it’s worth. But if you could be spending less with a different provider and receiving a better quality of broadband, then it’s time to swap. The research suggests that young adults are more open to switching, and my advice to students is don’t put off changing to a better suited and more affordable telco provider – switching is easy and in the current environment, every dollar counts.”
In addition to the More mobile and internet offers available, students who are CBA customers can get three months of complimentary Amazon Prime with their eligible CBA credit or debit Mastercard®.They can also enjoy cashback on a range of big brands like Domino’s, Menulog and JB HI-FI through CommBank Rewards, which has saved CBA customers over $25 million to-date.
“Our discounts and offers available to students are core to the way we’re helping our younger customers find great savings on the unavoidable and everyday costs. Money they don’t have to spend on the likes of mobile and internet is money they can direct towards future savings goals, investments or priority purchases,” Mr Morgan said.
As part of CBA’s wider O-Week campaign, students will be able to pick up a physical SIM card from 30 selected branches. This follows CBA’s recent pilot where the bank offered More mobile SIM cards to its customers in select branches.
“It’s another way we are making this offer available to many of our customers who can benefit from this, including students and younger Aussies, and those new to country, who need affordable yet reliable coverage, with no lock-in commitment,” Mr Morgan said.
Learn more about the discounts and offers available to students.
Disclaimer: Media releases are prepared without considering an individual readers objectives, financial situation or needs. Readers should consider the appropriateness to their circumstances. Visit Important Information to access Product Disclosure Statements or Terms and Conditions which are currently available electronically for products of the Commonwealth Bank Group, along with the relevant Financial Services Guide. Target Market Determinations are available here. Applications are subject to approval. Interest rates are correct at the time they are published and are subject to change. Fees, charges and eligibility criteria may apply.
Product information is current at the date of this media release and subject to change. Mastercard and the circles designs are registered trademarks of Mastercard International Incorporated. Conditions of Use, Terms and Conditions for this product are available online here and via the More website and should be considered in making any decision about this product.
Offer of 30% off a More nbn™ plan for 12 months is for customers who complete the sign up and switch providers by 30 June 2023 and use a CommBank Debit or Credit card as their online bill payment method. This offer is a once off annual discount to be applied on a monthly basis over a period of 12 months. The 12 months is a promotional period and commences from the day that your nbn™ service is activated on the nbn™ network. After this the cost of your plan will revert to the Recommended Retail Price (RRP) current at that time, subject to an ongoing monthly discount of 10% off the RRP of your plan as long as you use a CommBank Debit or Credit card as your online bill payment method. The RRP of More nbn™ plans are subject to change in accordance with More’s terms of service. This offer is on a no fixed term contract and you are free to cancel at any time without charges. However, cancelling your service within the 12 month promotional period will forfeit any remaining months discounted at 30% off. All discounts available with this offer apply to monthly plan fees and do not apply in relation to any modem charges, nbn™ New Development Fee or New Copper Pair charges or any fees in respect of additional services or usage. If you sign up, More will be your service provider for your nbn™ and will handle all technical enquiries, complaints and servicing. The provision of your nbn™ service will be subject to More’s standard terms of service and policies, which are available on the More website. CommBank reserves the right to remove this offer at any time.
Customers can access CommBank Rewards through the latest version of the CommBank app. Rewards are available to eligible CBA credit Mastercard or debit Mastercard, Business credit Mastercards and StepPay customers, that are at least 18 years old, are not in hardship, and are not in default. Terms and conditions including minimum spend requirements apply to CommBank Rewards and can be viewed within the CommBank app.
About the research: The August 2022 survey was conducted by the House of Brand Group, with fieldwork conducted between 29/08/2002-2/09/2022, amongst a sample of n=1,012 nationally representative respondents with quotas set on age, gender and location. This includes n=131 18-24 year olds and n=355 45+ year olds. The November 2022 survey was conducted by the House of Brand Group, with fieldwork conducted between 3/11/2022-8/11/2022, amongst a sample of n=1,035 nationally representative respondents with quotas set on age, gender and location.This includes n=121 18-24 year olds.
Go to CBA Newsroom for the latest news and announcements from Commonwealth Bank.