Any experience with Qantas Cash bonus points?

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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?

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interesting question. I’d be interested to know the answer. but isn’t there a conversion rate they would apply to put back in AUD. I find Qantas cash exchange rates not the best, hence how they can afford to give away points.

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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.

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