CBA’s digital feature helps businesses find unclaimed government benefits and rebates
As lockdowns continue around the country, Commonwealth Bank has updated one of its digital features to help make it easier for business owners to access state and federal support measures they may be eligible for.
The original Benefits finder - which has been long available to retail banking customers - has been extended to now include more than 58 benefits for businesses.
CBA said the new digital feature provides small businesses across the country with access to a personalised collection of benefits including various cash flow management, employment, and mentoring.
These business-specific benefits are in addition to more than 270 benefits and rebates already available for personal banking customers - many of which are pandemic-related.
Since its launch in September 2019, customers have commenced more than 1 million claims via the Benefits finder feature and saved more than $481 million, according to CBA.
With almost one-third of businesses view accessing and applying for grants and benefits as one of their greatest challenges, the newly enhanced solution simplifies the application process so businesses can access much-needed funds quickly and easily.
“Businesses know that support and benefits are available, but understanding eligibility and accessing them can be overwhelming, said CBA head of business banking Mike Vacy Lyle.
"We’ve moved quickly to update our Benefits finder digital feature to make that process easier and help business owners understand what is out there, what they are eligible for, and access what they need sooner and more efficiently.”
Business-specific benefits available in the Benefits finder include business support grants which are as high as $15,000 to those businesses affected by the current Greater Sydney lockdown, a deep cleaning rebate which hands back 80 percent of cleaning costs to a maximum of $10,000 as well as wellbeing and mental health assistance.