Commonwealth Bank says more Australians are checking their eligibility for government benefits. Image by (Erik Anderson/AAP PHOTOS)

Financial Services

CBA’s benefit finder sees surge in demand

2020-04-14 16:31:30

A banking app that lets customers check what benefits they are eligible for has experienced a surge in use recently as the COVID-19 lockdowns take a toll on the economy.

Commonwealth Bank’s Benefit Finder feature had 78,000 queries in the four weeks to April 5, about double its normal usage and the most since its previous peak during its national launch last September.

The feature connects customers with various rebates, claims and benefits they might be entitled to.

The most popular claims started in the past month were Unclaimed Money; Unclaimed Super; Power Saver Bonus; Coronavirus and Job Seeker Payments; Family Tax Benefit; and Rent Assistance.

Another 15 benefits are being added to the app this week, including utility relief grant schemes in Victoria, WA and SA; a rental bond loan scheme in NSW; and a funeral assistance program in ACT.

CBA group executive for retail banking Angus Sullivan says the bank is trying to help its customers claim all the benefits and rebates they are entitled to “during this difficult and unprecedented time”.

About 5.6 million Australians, more than 1 in 5, use Commonwealth Bank’s app daily, the bank says.