Statement regarding COVIDSafe app

CBA supports introduction of the new coronavirus phone tracing App, COVIDSafe.

Responding to the launch of the Government’s new coronavirus phone tracing App, COVIDSafe, Matt Comyn, Commonwealth Bank of Australia’s Chief Executive Officer, said today:

“We believe the use of the Government’s contact tracing app will play an important role in further supressing the transmission of the coronavirus and help give Australians the confidence to gradually return to everyday life. A tracing app will significantly improve what is largely a manual and imprecise process and add to the major success that Australia has had in substantially flattening the curve of infection and limiting the tragic loss of life to one of the lowest levels in the developed world.

“Such contact tracing technology will require broad adoption if it is to be successful. We fully support the need for this to be achieved on a voluntary basis as the backing of the community from the outset will be essential. The sole purpose of the tracing app will be to contain further transmission of the virus and in doing so help Australia get back to work. Once the economy is gradually re-opened and people feel safe to resume their lives, the app will have done its job and can be deleted from peoples’ phones.

“While Australia has done a very good job to date in containing the health and economic impacts of the coronavirus, we are still in the early days of this pandemic. As long as we all continue to work together, there is a real opportunity for Australia to continue to manage it well and emerge faster and in better physical and economic health than most other affected countries. I will be downloading and using the app, and I encourage others to do so.”

This is part of CBA’s broader response to the coronavirus which includes support for our home loan and small businesses customers ranging from:

  • Mortgage repayment deferrals for up to six months for 80,000 customers
  • Fee relief for credit card customers who were unable to meet their minimum repayments in March
  • 100,000 customers contacted directly to discuss specific support and help for them
  • More than $375 million approved for 4,500 SME customers under the government’s new guaranteed small business loan scheme
  • The launch of our new JobKeeper hot line to support SME customers needing bridging finance including a new, simple e-application form to access temporary overdraft facilities
  • Auto deferring loan repayments for more than 70,000 small business customers, providing cash flow relief of up to $500 million per month.
  • Reducing business interest rates to historic lows and waiving a range of fees.

The measures taken by CBA to support Australian businesses and households will inject up to $10 billion into the nation’s economy.

For more re information on other support measures CBA is providing for customers impacted by coronavirus including the new Jobkeeper hotline, please visit https://www.commbank.com.au/latest/coronavirus.html.

The CBA JobKeeper phone line can be reached via 13 26 07. The CBA JobKeeper customer form can be accessed via https://www.commbank.com.au/latest/coronavirus/business-support/call-request.html.

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