Commonwealth Bank is supporting businesses to manage the increased cost pressures of running a business through exclusive pricing and savings on internet and phone plans.
We know businesses are experiencing increased costs for essential products, services and materials than they were a year ago. We want to support our business customers, and are pleased to be able to work with innovative partners like More to provide savings on every day costs such as internet and phone plans.
Clare Morgan, CBA's Executive General Manager, Small Business BankingIn partnership with local telecom provider More, eligible CBA business customers can receive 30 per cent off their business phone and nbn bill for twelve months. Customers who sign up for a 24 month contract will also receive free phone hardware and an nbnTM modem, saving them an average of $2,300 per year.
Recent CBA research shows one third of Australians (33 per cent) were looking for cheaper providers for utilities to help manage costs. Additionally, recent ABS data 4 shows almost half of businesses (46 per cent) experienced increased operating expenses in June over the previous month, compared to 21 per cent of businesses in June 2021. When considering the month ahead, 44 per cent of businesses expect operating expenses to increase.
CBA's Executive General Manager, Small Business Banking, Clare Morgan, said: “We know businesses are experiencing increased costs for essential products, services and materials than they were a year ago. We want to support our business customers, and are pleased to be able to work with innovative partners like More to provide savings on every day costs such as internet and phone plans.”
More's Co-founder, Andrew Branson, said: “We are thrilled to partner with CBA to provide meaningful savings and better value for money to customers as they deal with the rising costs of doing business. This is in addition to another exclusive CBA offer, where eligible home loan customers can get free internet for three years.”
The More partnership complements CBA’s growing suite of digital services and experiences to help business customers start, run and grow their business. This includes access to CBA’s Cash Flow and Daily IQ insights tools that provide free and tailored prompts and insights to help optimise cash flow, enhance performance and understand their own customer behaviour.
“It’s been fantastic to see more than 30,000 customers use our Business Cash Flow insights tool in the CommBank app since it launched in March this year. We know businesses are looking for seamless and innovative digital experiences, as well as insights, so we’re continually updating our digital tools, or partnering with other providers where it makes sense, to deliver the best experience for our customers,” said Ms Morgan.
CommBank retail customers can also access an exclusive 30 per cent off More nbn plans for the first 12 months when they sign up using their CommBank credit or debit card as their bill payment method.
