There’s some exciting news for flybuys members. flybuys are introducing an auto-transfer feature which will alleviate the need for members to transfer points manually. Starting today, (7th December 2020) members are able to login to their account and turn on the auto transfer feature for transferring points to their Velocity Frequent Flyer account.
There’s also a temporary improvement in the transfer rate until 31st January 2021. Let’s take a look at these one by one.
Auto transfer to Velocity
Until now, flybuys members wanting to transfer points to Velocity had to login to their account and initiate the transfers manually. This is now changing, with the introduction of a new auto-transfer feature (similar to what Everyday Rewards introduced for its members sometime ago).
To turn on auto transfer, login to your flybuys accounts and navigate to My offers. Once here, simply click on the Auto Transfer On logo, like the one you see below and you are set.
Temporary improvement to transfer rate
The standard transfer rate from flybuys to Velocity is 2:0.87 (2,000 flybuys = 870 Velocity points) further, you can only initiate the transfer when you have a minimum of 2,000 points in your account and in additional multiples of 2,000 points.
However, if you turn on the auto-transfer feature anytime before 31st January 2021, up-to and including that date, flybuys will boost your transfer rate to 2:1 (2,000 flybuys points = 1,000 Velocity point). Additionally, the minimum points threshold for transfers will be lowered to just 1,000 flybuys points, meaning every time your account balance hits 1,000 points (or any multiple of 1,000), it will trigger the transfer and a corresponding number of Velocity points will be deposited into your account.
Earn 500 Velocity points for every 1,000 flybuys points transferred until 31st January 2021
Triple Velocity status credits
Upon turning on auto transfer, you will automatically become eligible to earn triple Velocity status credits when you shop at Coles, Liquorland and FirstChoice Liquor Markets and scan your flybuys card.
This means that instead of earning 1 status credit, eligible members will earn 3 status credits for every $100 spent at these shops until 31st January 2021, for a total of up to 30 status credits per month.
Let’s talk about a couple of positive changes first and then I will get into what I see as a missed opportunity.
- It used to be that flybuys members could only transfer a maximum of 138,000 points to Velocity per calendar year. This changed on 1st November 2020 when the cap was removed, meaning there is no limit anymore on the number of points members can transfer.
- I also appreciate that flybuys are brining in the auto-transfer feature and improving the transfer rate until 31st January 2021.
But why not make the 2:1 transfer (2,000 flybuys points = 1,000 Velocity) permanent? Given that transfers from Everyday Rewards to Qantas are already permanently set at 2:1 (2,000 Everyday rewards points = 1,000 Qantas points), this does put flybuys and Velocity members at somewhat of a disadvantage.
Everyday Rewards points to Qantas have a 2:1 transfer rate
Sure, members can overcome this by electing not to turn on the auto transfer, and initiate transfers manually only when a transfer bonus is available (usually 15%), but doesn’t this then defeat the whole purpose of introducing auto-transfer ?
flybuys members are now able to set and forget transfers to Velocity by simply turning on the newly introduced auto-transfer feature in their account. For a limited time, they can also take advantage of an improved transfer rate of 2:1 (2,000 flybuys = 1,000 Velocity points) and a reduced minimum transfer threshold of just 1,000 flybuys points.
The boosted transfer rate isn’t permanent though, and only applies for auto transfers triggered by 31st January 2021. There is no compulsion to turn on the feature, in which case members will be able to continue transferring points manually at the standard rate (2,000 flybuys = 870 Velocity points).
Do you plan to turn on auto-transfer? Leave a comment below.