Hello, Qantas Cash is currently offering up to 40,000 bonus FF points (2 points for every $ over $500 up to a maximum of 40,000 points) for loading foreign currency. I’ve had a quick look at the fine print and it seems that I could load 20k of foreign currency and transfer it back to my bank account without incurring any fees and still get the points. Anyone done this?
I have heard the same with regards to worse fx rates than usual.
I would think you would lose from fx rate through buying and selling. Otherwise, it would be a wonderful hack.
If you find that AUD20k-> foreign currency->AUD20k, please report back. I am sure there would be many interested parties here. However, I have my doubts as there is no sustainable free lunch in my picture of the world. Happy to be proven wrong.