Redeem American Express reward points for foreign exchange

LMoreuspendmoreusave on 08/05/2013 - 18:31

Moved to Forum: Original Link

Hi All,
I am very excited as this is my first post.
The deal below is relevant for anyone who has an Amex card and is a member of the Amex membership rewards program.
You can exchange your reward points for foreign exchange.
10,000 Membership Rewards points = AUD$100 equivalent of foreign currency.
IMHO this is much better than getting retail outlet cards for your reward points. Typically you need 13,500 points for AUD$100 gift card.
Use the link provided to see all the T&C.

Financial

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American Express
American Express

Comments

  • evol on 08/05/2013 - 18:38
    +1

    MR points have far better monetary value when used for flight redemptions/upgrades, but if you prefer cash then I guess this is better than the gift card route.

  • slknv on 08/05/2013 - 18:42

    Always has been 10,000 points for $100 of currency exchange. Probably this topic more suited to the forums.

    Beware that I changed about 70,000 points for euro at the box hill Amex office in the westpac bank in April 2012. When we got to Paris, it turns out that about six 20euro notes given to us from the Amex office was counterfeit! If accepting foreign currency ask (especially for higher value notes) for the currency to be verified under a uv light.

  • zzyss on 09/05/2013 - 08:54

    Also don't forget that their margin is likely built into the exchange rate. I assume it'd be pretty far from the market rate.

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