CommBank to offer cheaper NBN plans with Tangerine and More Telcom
Last week, the Commonwealth Bank of Australia (CBA) announced a new partnership with sister telco providers Tangerine and More Telecom that will see the bank offer its customers discounted broadband plans.
As part of the deal, CBA will acquire a 25% ownership stake in both More Telecom and sister company Tangerine. The telecom providers have around 90,000 customers combined across their services, which CBA plans on expanding by offering special telco deals through its mobile banking app, which itself currently has around 7 million users.
Tangerine took out Best NBN Provider in Mozo’s 2021 Experts Choice Awards, while Commonwealth Bank took out a Mozo Experts Choice Award for Excellent Banking App in 2020, and a Mozo People’s Choice Award for Mobile Banking Experience in the same year.
How can I take advantage of CommBank’s discounted NBN plans?
CommBank will be offering exclusive telco deals to Tangerine and More Telco via its mobile banking app. The app is for CBA customers to track their spending, manage accounts and view bills among other functions, but will also be host to the range of telco deals available.
CBA currently has 11 million active retail customers, 7.5 of which it claims are active digitally. The strategic partnership plans on allowing those customers access to both telco providers at a discounted rate.
More Telecom was launched in 2013 and is a premium provider of NBN broadband, phone and mobile services to home and businesses. It operates sister company Tangerine, which is one of the fastest-growing NBN providers in Australia. Both providers are privately Australian-owned.
The announcement follows CBA revealing similar partnerships in both the online shopping and energy markets, as it looks to expand its unique digital offering to customers across a range of industries.