Free Velocity Points? Velocity Frequent Flyer Global Wallet Visa Prepaid

Bargain4U on 08/07/2013 - 01:16
Last edited 12/07/2013 - 16:39

Details of Virgin Australia's Global Wallet were released a few days ago. This reloadable prepaid travel card which earns Velocity Frequent Flyer points without using a credit card. Cards are being sent to opted-in members from late July.

  • One Point per $1 spent overseas and One Point per $2 spent in Australia
  • 10 different currencies, max four currencies at once

Fees and Charges (I'd be assuming there is about a 3% commission factored into their exchange rates)

  • International ATM Withdrawal Fee: $2.95 AUD (or equlivient)
  • Load Fee: $1.00
  • Monthly Inactivity Fee (after 12 months): $1.95

A simular card has been announced for Qantas Frequent Flyers, called Qantas Cash (ETA unavailable). The added benefit of Qantas Cash is; nine currencies simultaneously, funded faster via POLi, Q chip enabled for check-in and boarding, plus better aesthetics.

What do you think? Does it work out good value for Velocity points?

Poll Options

  • 5
    Qantas Cash, Qantas Frequent Flyer
  • 2
    Global Wallet, Velocity Frequent Flyer
  • 3
    Rewards Credit Card
Financial

Related Stores

Velocity Frequent Flyer
Velocity Frequent Flyer
Marketplace

Comments

  • narbe on 08/07/2013 - 12:19
    +1

    28 degree for the win

    • MITM on 08/07/2013 - 16:28

      Don't leave home without it.

    • tonester on 12/07/2013 - 10:53
      +2

      except it doesn't allow one to fix / lock-in multiple exchange rates as prepaid cards do

      • elf888 on 04/03/2014 - 12:03

        The exchange rates are sucks!

  • Associateddonga100 @ Velocity Frequent Flyer on 12/07/2013 - 10:45
    +1

    I would use this card a lot if it wasn't for the $1 load fee. If I load small amounts of money the $1 fee defeats the purpose of earning points. If I load a large amount of money I miss out on the interest it could have earned. I really like the idea of being able to earn points from a debit card.

    Disclaimer: I work for Virgin but nothing to do with Velocity.

    • tonester on 12/07/2013 - 10:54

      are there any prepaid cards without load fees?

      • Associateddonga100 @ Velocity Frequent Flyer on 12/07/2013 - 13:32

        Bank debit cards. Prepaid visa/mastercard giftcards. I would think that Virgin/Qantas could make enough money through interest to more than cover the cost of the points.

        • tonester on 12/07/2013 - 17:01
          +1

          sorry, i perhaps should have said prepaid foreign currency cards…

    • Bargain4U on 12/07/2013 - 16:38

      There's also the fact that you will lock in a declining exchange rate ahead of time, making up for any interest lost. Take for example the US dollar which is predicted to hit 75 cents within 12 months.

      • RockyRaccoon on 30/07/2013 - 02:42
        +1

        Such predictions are just that - predictions. A few weeks ago some predicted it would be 88c this week. Its still 92c

        Keep in mind there is also a withdrawal fee of $2.95 vs zip with Citibank or 28 degrees.

        • Associateddonga100 @ Velocity Frequent Flyer on 16/08/2014 - 15:24

          93 cents today.

  • Associateddonga100 @ Velocity Frequent Flyer on 25/07/2013 - 19:27
    +1

    I just received my card in the mail and it comes with a free genuine leather passport holder/wallet. :)

    • charliechunks on 25/07/2013 - 19:33
      +2

      Nice:)

    • Bargain4U on 02/09/2013 - 10:47

      What? I didn't get one and I guarantee I was the first person to order one! But rang them up and they are sending one out :D

    • ezza on 13/09/2013 - 08:54

      Very nice donga100 i didn't get one either, are you silver/gold status??? I tried calling but I've been bumped back and forth between Velocity Global passport customer service and the normal Velocity customer service with no outcome. They don't seem to know what I'm referring to.

      • ezza on 14/09/2013 - 10:46

        Hot down to the bottom of it… It was only for the first few hundred customers who registered they are out of stock now ;(

  • Holysmoke on 20/08/2013 - 17:56

    Just received mine - identity verification required.

    Don't think I will ever use this overseas due to fees involved.
    FF point earn rate on local purchases are not great either so this might eventually turn into a useless card.

  • Holysmoke on 20/08/2013 - 21:17

    Website says mobile apps 'coming soon' but seems to be working already:
    Android
    iOS

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