Velocity Frequent Flyer and Commonwealth Bank unveil new loyalty member offering to unlock points earn on everyday banking for millions of Australians

•  Virgin Australia’s Velocity Frequent Flyer has announced a major new offering with the Commonwealth Bank, with CommBank Yello customers gaining new ways to earn Velocity Points.
• For the first time, eligible customers will be able to earn CommBank Yello Points across Commonwealth Bank savings accounts, home loans, insurance and credit cards to redeem for flights and holidays through Velocity.
• New CommBank research has revealed the growing importance of loyalty programs, with 78 per cent of Australians saying rewards help them manage rising living costs [1].
• The announcement is the first in a broader series of enhancements to Velocity’s financial services offerings expected to launch in 2026.

DOWNLOAD IMAGES & B-ROLL

Tuesday, 18 August 2026: Virgin Australia’s Velocity Frequent Flyer loyalty program today announced a major new offering with the Commonwealth Bank, giving more than nine million CommBank Yello customers (the bank’s dedicated rewards program) new ways to earn and redeem Velocity Points through everyday banking.

Under the new member offering, Velocity will become part of CommBank Yello’s program offering, allowing customers to earn Points on a full suite of consumer banking products, creating one of Australia's largest banking and airline loyalty offerings.

The announcement comes as cost-of-living pressures see Australians increasingly looking to get more value from their everyday spending, while Velocity continues to expand its financial services portfolio beyond traditional points-earning credit cards. Demand for Velocity Reward Seats is also at record levels, as more members choose to turn the Velocity Points they earn into flights and holidays.

Commonwealth Bank commissioned research by YouGov [2] found that almost half of Australians say loyalty programs are more important to them than 12 months ago, and 78 per cent say rewards help them manage rising living costs.

How CommBank customers can earn Velocity Points

From 1 October 2026, eligible CommBank Yello customers can convert their CommBank Yello Points earned through savings accounts, home loans, insurance and credit cards into Velocity Points, making it easier to turn everyday banking into flights and holidays:

The announcement marks the first in a series of enhancements to Velocity's financial services offering, ahead of changes to credit card interchange and surcharge rates announced by the Reserve Bank of Australia.

Commentary

Velocity Frequent Flyer Chief Executive Officer, Andrew Cleary said the offering brings together two recognised Australian brands to give millions of Australians more rewards from their everyday banking.

“By bringing together Australia’s largest retail bank and Velocity, we’re making it easier for millions of Australians to earn Velocity Points through the banking they’re already doing every day. At a time when cost of living matters, this isn’t about spending more, it’s about helping Australians get more value from everyday financial decisions,” said Mr Cleary.

“As the rewards landscape evolves, credit cards will continue to play an important role in Velocity, but we’re broadening our financial services offering to create more ways to earn Velocity Points through products like home loans and transaction accounts. The more everyday banking our members do with CommBank, the more opportunities they’ll have to earn Velocity Points and turn those everyday financial decisions into travel opportunities,” he said.

Speaking of the surging popularity for airline travel rewards, Mr Cleary said: “Demand for Virgin Australia Reward Seats has never been stronger, with domestic Reward Seat bookings reaching a record high last financial year. That’s exactly why we’re creating more ways for members to earn Velocity Points to get to their next holiday sooner, and this offering is the first of a number of enhancements we’ll announce across our financial services offering in the coming months.”

ENDS

MEDIA CONTACT

Virgin Australia Group Corporate Affairs: corporateaffairs@virginaustralia.com or 1800 142 467.

NOTES TO EDITORS

• Velocity Frequent Flyer members can redeem Points for Reward Seats to more than 600 destinations around the world on Virgin Australia and partner airline flights, including Qatar Airways, Singapore Airlines, United Airlines, Air Canada, Air New Zealand and ANA.
• Velocity continues to offer some of the lowest Reward Seat pricing of any Australian airline loyalty program, with one-way Reward Seats starting from just 5,900 Velocity Points (plus taxes, fees and carrier charges), that’s 40% better value than our nearest competitor.
• Demand for Virgin Australia Reward Seats reached a record high in FY26, with domestic Reward Seat bookings at their highest level on record^.
• Domestically, Sydney, Melbourne and Brisbane remain the most popular Reward Seat destinations, with the Gold Coast and Tasmania emerging as member favourites.
• Internationally, Japan remains one of the most popular destinations for Velocity members travelling on ANA, while Europe continues to see strong demand through partners including Qatar Airways and Singapore Airlines. Vancouver is also growing in popularity through Air Canada.

ABOUT VELOCITY FREQUENT FLYER

Virgin Australia’s award-winning loyalty program, Velocity Frequent Flyer, boast millions of members who can use their Points to redeem flights to more than 600 destinations around the world through Virgin Australia and the airline’s extensive list of international partner carriers, including Virgin Atlantic, Qatar Airways, Singapore Airlines, United Airlines and more. The program is also partnered with Flybuys (Coles, Coles Express, Bunnings and more), DoorDash, DiDi and more, giving members more choice than ever before when earning and redeeming Points.

[1] New research commissioned by CommBank underlines the value Australians place on rewards that help with everyday costs. Source: YouGov research commissioned by CommBank. [n = 2009 Australians, 26th June to 1st July 2026]

^ Based on Virgin Australia internal data comparing the number of Reward Seat bookings made by Velocity Frequent Flyer members in FY26 against all prior financial years.

[2] New research commissioned by CommBank underlines the value Australians place on rewards that help with everyday costs. Source: YouGov research commissioned by CommBank. [n = 2009 Australians, 26th June to 1st July 2026]