Commonwealth Bank has completed the closure of its CommBank Awards programme, moving its rewards distribution toward CommBank Yello. The official Awards portal confirms that the old programme closed on September 29.
Customers can no longer earn, redeem or transfer Awards points through that programme. The bank's current Yello page says eligible customers can earn, redeem or transfer points from October 1 and includes participating-brand gift cards among the redemption options.
This is the completed operating transition described in an August 18 announcement, rather than a newly discovered September announcement. The earlier plan and the later closure have separate original dates.
The current page illustrates gift-card value with a Myer example: 12,500 Yello points for an AUD50 card. The bank identifies that as an October 1 illustration and says redemption values, availability and eligibility can change.
The same bank page illustrates 100,000 points buying AUD600 off a Hopper travel booking. Normalising the two published examples gives AUD4 of Myer gift-card value and AUD6 of travel-booking value per 1,000 points. That calculation explains why the selected gift-card example is not a universal cash rate. Both examples are labelled illustrative and correct as at October 1, with prices, availability and eligibility subject to change.
Two bank-published illustrations imply different point values
Australia; Commonwealth Bank examples labelled correct as at October 1, 2026.
AUD reward value per 1,000 points
Tap or hover for details. All values are also available in the data table.
Source
Calculated as AUD50 / 12,500 points × 1,000 and AUD600 / 100,000 points × 1,000. These are the bank’s own published illustrations, not invented scenarios, guaranteed current tariffs, actual redemption behaviour or financial recommendations.
Show data tableHide data table
| Category | AUD reward value per 1,000 points |
|---|---|
| Myer gift-card illustration | 4 AUD reward value per 1,000 points |
| Hopper travel-booking illustration | 6 AUD reward value per 1,000 points |
For gift-card distribution, the change concerns which bank rewards channel customers use to obtain participating retailers' cards. The reviewed pages do not establish that every customer's old balance has already completed its conversion or that points equal cash at a universal rate.
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Maya Bennett
Maya Bennett covers customer loyalty, employee rewards and incentive programmes for Gift Card News.