After what feels like an eternity, Velocity have brought back transfer bonus for flybuys members. Until 31st July, there is an opportunity to earn up to 20% bonus Velocity points when you transfer your flybuys points.
Generally, transfers from flybuys are capped at 138,000 flybuys points per year. For the month of July though, there is no maximum limit on how many flybuys points you can transfer, when you transfer in increments of 2,000 flybuys points.
Tiered Transfer Bonus
The bonus has 2 tiers:
- You will earn 15% bonus Velocity points if you transfer between 2,000 and 100,000 flybuys points.
- You will earn 20% bonus Velocity points if you transfer over 100,000 flybuys points in a single transaction.
Transfer your flybuys points to Velocity and earn up to 20% bonus Velocity points in July
Ordinarily, flybuys points are transferred to Velocity at the rate of 2:0.87 (2,000 flybuys = 870 Velocity points). If you take advantage of this offer though and transfer points, the effective conversion rate becomes 2:1 (2,000 flybuys = 1,001 Velocity points) on transfers of up to 100,000 flybuys points.
For transfers over 100,000 flybuys points, the conversion rate rises to 2:1.044 (2,000 flybuys = 1,044 Velocity points), which is a fairly respectable return when you consider how easy it is to rake up tens of thousands of flybuys points.
You do not need to register to participate in this promotion, just login here and initiate the transfer.
Should you transfer points
Virgin Australia are slowly restoring awards on limited domestic flights, meaning you will be able to redeem Velocity points soon (from 1st September). If you like to redeem your points for award flights, and given that Virgin Australia are flybuys’ sole airline partner, it definitely makes sense to take advantage of this offer.
In terms of value, a 15% transfer bonus is nothing special and has historically been offered several times a year by Velocity. A 20% bonus is definitely better but is hardly going to send the flybuys website into a meltdown. Still, unless you have your heart set on something from flybuys rewards store, in my opinion, there’s value in sending points across to your Velocity account.
To say that Virgin Australia have faced some turbulent times in recent months will be an understatement. With Bain Capital now effectively taking control of the airline and infusing hundreds of millions of dollars in capital, it does appear that the dark clouds are slowly starting to dissipate.
Earlier today, Virgin Australia relaunched it’s much loved Happy Hour promotion and now there is a transfer bonus for members. It is starting to look and feel a lot like the old times are coming back 😉
Do you plan to transfer your flybuys points to Velocity in July? Leave a comment below.