- The Commonwealth Bank has partnered with More to offer mobile services to its customers.
- Under the partnership, CommBank customers can receive 30% their mobile phone plan for 12 months and a 10% ongoing discount when they sign up with the telco.
- The bank has taken a 25% stake in More as part of the deal.
More’s partnership with the Commonwealth Bank has now expanded to mobile. For a limited time, CommBank customers can receive 30% of their mobile phone plan for 12 months and a 10% ongoing discount when they sign up with the telco.
A soft launch of the product included a trial with bank customers who were offered More SIMs in a few select branches. The mobile offer is the latest in a series of deals for the bank’s customers, including discounts for NBN services, phone and broadband services for small businesses, and 36 months of free broadband for eligible bank customers. The bank last year took a 25% stake in More.
As part of a trial during the soft launch phase of the mobile services, SIMs were offered to customers at four NSW CommBank branches and two in Victoria, More cofounder and CEO Andrew Branson told CommsDay.
Brandson explained that the move wasn't integral to their mobile launch but could reach customers nonetheless. He said one possibility was creating an online order process with a local pickup for SIM cards.
Furthermore, Brandson mentioned that CommBank had a “really deep partnership”, with the in-branch pilot showing “how well the relationship is going.”
Ben Morgan, CBA general manager of strategy and sustainability, said: “We know people are looking more carefully at their bills and expenses, and the bank is constantly looking beyond traditional banking services to help both retail and business customers manage their finances and give them access to quality products and services that put money back in their pockets.”
Aside from mobile services, the bank has a "number of other ways it is helping customers save on utilities and essential costs,” he added. More offers NBN services, renewable energy offers through CommBank partner Amber Electric, a new ‘Fuel Finder’ feature in the bank’s app available in NSW, and grocery, food and fuel cashback offers through CommBank Rewards and shopping partners such as Little Birdie.
“I think there’s a lot of customers that do want to bundle their mobile and their home broadband together,” Branson said. “Obviously mobile is an even bigger market than home broadband with so many more people with a SIM, and multiple SIMs per household. So I think it’s all going very well, and this is just going to take it even further.”
Branson said he expects there to be further offered as part of the partnership between the bank and the telco and “experimentation with what the market really wants.”
“We certainly think there’s still a long way to go with the partnership,” he said. “We think we can get some really fantastic numbers and great penetration into the market.”