Definition of a product bundle

What is a bundle for the purposes of CDR?

Under the CDR Rules, information about bundles is considered ‘product specific data’ in relation to a particular product (see clause 1.3 of Schedule 3 – Provisions relevant to the banking sector) or in relation to a particular plan (see clause 1.3 of Schedule 4 – Provisions relevant to the energy sector).

The term ‘bundle' is not defined in the rules.  We therefore expect the term to be interpreted in the context of specific commercial offerings, taking advice where needed.

While the term ‘bundle' is not defined in the rules, the definition of 'product specific data' in CDR Rules, Schedule 3, section 1.3; and Schedule 4, section 1.3, includes 'bundles' as an example of 'features and benefits' used to identify or describe the characteristics of a product or plan.

Packaged products and plans are a common example of features and benefits likely to be considered a bundle. For example:

• combining gas, electricity and/or internet through one provider, usually with a discount offered to the consumer, and
• packaged home loans offering offset accounts, credit cards, insurance and a range of other products and services, typically through one provider and often with discounts offered to the consumer.

Note that ‘product specific data’ covers a range of data requirements for ensuring a product or plan is identifiable and comparable across various offerings and is likely to include any associated feature or benefit that is provided with the product or plan. For example:

• gifts, free memberships, or a sign-on bonus
• points or credits for awards programs, and
• access to free or discounted products or services through other providers in the same or different sector.

We therefore encourage data holders to consider if an associated feature or benefit of a product is captured by the rules even if it is not strictly a discount, bundle or incentive.