Virgin Australia’s Velocity Frequent Flyer has announced a new partnership with Commonwealth Bank, giving more than nine million CommBank Yello customers new ways to earn Velocity Points through everyday banking.
Under the offering, Velocity will become part of CommBank Yello’s rewards program, allowing eligible customers to earn points across savings accounts, home loans, insurance and credit cards for the first time, in what the companies describe as one of Australia’s largest banking and airline loyalty offerings.
From 1 October 2026, eligible CommBank Yello customers will be able to convert points earned through those products into Velocity Points, redeemable for flights and holidays.
The announcement comes as cost-of-living pressures push more Australians to seek value from everyday spending. Commonwealth Bank-commissioned research by YouGov found almost half of Australians say loyalty programs are more important to them than 12 months ago, while 78 per cent say rewards help them manage rising living costs.
Velocity said demand for reward seats was also at record levels, as more members redeem points for flights and holidays.
The partnership marks the first in a series of planned enhancements to Velocity’s financial services offering, with further changes expected in 2026 ahead of Reserve Bank of Australia changes to credit card interchange and surcharge rates.
