Are there any cons in using Velocity Global Wallet to earn points?

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Hey there,

I was wondering if anyone has had previous experience using the Velocity Global Wallet as an everyday card?

As a student I don’t have many banks that will approve me for a rewards credit card so was thinking I could load up cash onto the Global Wallet and use it as a day to day debit card. As there any cons to this?

Thanks!

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Great Response
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Not really any cons, you have the $1 load fee and no free ATM withdrawals but apart from that it’s a great option if you can’t get a CC and want to earn points. Personally the wife and I use our Velocity cards to budget our personal sending, we each get an allowance transfered each week onto our cards and use it for our everyday personal spending. I have not come across any issues at all.

  • I don’t believe there’s any load fee – I’ve never been charged one (using bank transfer and BPAY).
    In terms of domestic spend, if you can’t/won’t get a credit card, then 0.5:1 from a free card is better than anything else out there. Just be wary of using it for foreign currencies as both it and Qantas Cash have a lot of margin on top of the MC/Visa FX rates.

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