Velocity have launched a new transfer bonus offer whereby members can earn up to 30% bonus points. The promotion starts today and runs until the end of the month (31st May). Majority of Velocity partners are included in the promotion, prominent one’s being American Express, flybuys, Citi, most major banks and most hotel loyalty programs.
You can check out the full list of partners over here.
The exact number of bonus points you receive depends on the transfer partner. Most partners are only eligible for 15% bonus, a select few 20% and others up to 30% bonus points.
5% Bonus Points
You will earn 5% bonus upon transferring points from the following partner:
The standard transfer rate between flybuys and Velocity is 2:1 (2 flybuys = 1 Velocity point), which under the promotion has been slightly enhanced to 2:1.05 (2 flybuys = 1.05 Velocity point).
We haven’t seen flybuys included in these promotions since January 2021 when flybuys and Velocity permanently improved the transfer rates. So it is particularly pleasing to see flybuys make a comeback.
If you have been sitting on a pile of flybuys points, this might be an excellent time to finally hit the transfer button and pocket a small bonus of Velocity points.
15% Bonus Points
You will earn 15% bonus upon transferring points from the following partners:
- American Express
- St George
- Bank SA
- Bank Of Melbourne
- IHG One Rewards
- Marriott Bonvoy
- Choice Priviliges
- Shangri-La Circle
- All Accor
Each of these partners have their own transfer rates to Velocity. For instance, regular transfers from American Express to Velocity have a 2:1 ratio (2 Amex = 1 Velocity point). If you take advantage of this promotion, the ratio increases to 2:1.15 (2 Amex = 1.15 Velocity points).
20% Bonus Points
You will earn 20% bonus upon transferring points from the following partners:
- American Express (Platinum, Business Platinum & Rewards Advantage Card only)
- ANZ Rewards & ANZ Business Rewards
The personal & business version of Platinum cards both, command a very high annual fee. So it is only fair that Velocity make this distinction and offer a little extra over other Amex cards.
30% Bonus Points
You will earn 30% bonus upon transferring points from the following partners:
- Card Services
- BOQ (Bank of Queensland)
- Diners Club International
Citi cards, with the exception of Citi Prestige don’t particularly offer good transfer rates to Velocity. So if you have points with Citi, this might be a good time to make that transfer and earn an extra 30% points.
Velocity members can earn between 5-30% bonus points in May when they transfer rewards points to their Velocity Frequent Flyer account. I should emphasise that Velocity points are one of the easiest to come by in Australia, thanks to their myriad partners such as 7-Eleven, Ola, Velocity e-store, several car rental companies, multiple Velocity points earning cards and flybuys.
So unless, you are short of Velocity points and have confirmed near-term travel plans, I would hold off transferring points (with the exception of flybuys).
Do you wish to take advantage of this promotion? Leave a comment below.