Is your Velocity Points balance in need of a top-up? Velocity usually runs a twice-yearly points transfer promotion with most bank partners in May and November. Just like clockwork, the May 2024 bonus is here. This deal covers most bank reward programs, but you need to transfer over two months for 15% or enable auto transfers for 20%.
Here’s what you need to know.
Velocity May 2024 | 15% transfer offer
| Expiry: Transfer at least once in May and June 2024 |
Simply transfer from participating partners to Velocity at least once in May and June 2024. You need to make a manual transfer for it to be eligible. Participating partners are:
- American Express
- ANZ Rewards
- ANZ Business Rewards
- Bank of Melbourne
- BOQ
- Bank SA
- Card Services
- Citi
- Commonwealth Bank
- Diner’s Club
- HSBC
- NAB
- St.George
- Suncorp
- Westpac
Our suggestion is to simply transfer the minimum amount in May and then whatever you need in June to reach a redemption goal. Make sure to leave some points in your existing balance so you have enough to transfer in June.
Velocity May 2024 | 20% transfer offer
| Expiry: Enable Auto Transfer by 30 June 2024 |
Simply enable auto transfers from participating partners to Velocity by 30 June 2024. Any transactions that happen between 1 May and 30 June will get the bonus.
- ANZ Rewards
- ANZ Business Rewards
- Bank of Melbourne
- Bank SA
- NAB
- St.George
Why should I use a Velocity transfer promotion?
We’re big fans of transfer promotions from flexible reward programs to Velocity Frequent Flyer, particularly when the offer is 15% more points (or higher!), and you have a specific flight goal in mind.
But in general, unless you have a specific goal, our suggestion is to preserve the flexibility of your points. Just because there’s an offer running doesn’t mean you have to transfer them.
If you’re holding American Express Membership Rewards points and ultimately want KrisFlyer miles, transferring to Velocity with the bonus gives you slightly more miles now.
- 30,000 MR points = 10,000 KrisFlyer miles with a direct conversion.
- 30,000 MR points = 16,500 Velocity Points (inc. 10% bonus) = 10,645 KrisFlyer miles
- 30,000 MR points = 17,250 Velocity Points (inc. 15% bonus) = 11,129 KrisFlyer miles
Offer history
Keen to know how Velocity has run this offer in the past so you can decide if you should take advantage of it now? Here’s the offer history since 2023.
- May 2024: 15-20% bonus for most bank rewards (2-month offer)
- March 2024: 10-15% bonus for American Express Membership Rewards and CommBank Awards.
- November 2023: 20% bonus for most programs (3-month offer).
- August 2023: 10-20% for Amex Member Month.
- May 2023: 15-20% bonus for most programs.
- March 2023: 15% bonus for CommBank Awards members only.
- February 2023: 15-20% bonus for Amex Membership Rewards only.
Offer history before 2023:
- October 2022: 15-25% bonus for most programs.
- August 2022: 25% bonus for American Express Membership Rewards.
- May 2022: 5-30% bonus for most programs.
- February 2022: 15-20% bonus for Amex Membership Rewards only.
- November 2021: 20-30% bonus for bank programs.
- May 2021: 15-30% bonus for most bank programs.
- November 2020: 15-40% bonus + 50 bonus Status Credits for most bank and hotel rewards programs, plus 15% bonus for Flybuys.
- September 2020: 20% bonus for most bank and hotel reward programs.
- July 2020: 15-20% bonus for Flybuys.
- February 2020: 15% bonus for most Amex Card Members; 20% bonus + status upgrade for Platinum and Centurion Card Members; 15-20% bonus for Flybuys [targeted].
Summing up
These Velocity promotions are usually a great deal if you have a stash of credit card or hotel program points you want to transfer over to Velocity. Don’t forget, along with Virgin Australia, you can also use Velocity Points on airline partners such as Etihad, Singapore Airlines, Air Canada and more.
Additional reporting by Chris Chamberlin. This content contains affiliate links from which Point Hacks may earn commissions from transactions generated from new customers, bookings and general enquiries. Find out more here.
T&C’s said the bonus points would be added by February 2024, but I am yet to receive those points
Just got informed that it is only gold for 800K Amex points. They meant 800K velocity points!
Going to contest this false advertising.
Transferred 800K Amex points and they only upgraded me to Gold!
Better come through with Platinum or I am going to insist for my points to be transferred back – false advertising!
Do you know if this applies to Platinum Corporate Amex?
Cheers
Ben
I am about to take the leap, but a friend says that these deals never apply to the corporate cards.
This would be a big influencing factor!
Regards
Ben
I transferred and got 15%.
So you may have been offered 20% but that wasn’t for everyone.
Will contact them out principal
Thanks for the article. Do you think there is any chance they offer a bonus transfer from Amplify rewards? I have noticed Amplify (St George) is usually excluded from these velocity bonus transfer promotions. Not sure if I should hold out or just transfer now and close my cards. Would like any insight you have on this.
Unfortunately we are not privy to which bank rewards programs will participate in Velocity’s bi-annual points transfer promotions. Some banks do seem to participate more often then others. CBA for example is one that hasn’t participated in over 2 years and are now back for this promotion.
From the link you provided regarding citibank transfer, i can’t find anywhere mentioned the transfer bonus is 30%. Where did you find this info?
Thank you for the report.
I logged into my citibank rewards and I can’t find any bonus points. is there a link that i can refer to? thanks
105,889 Qantas Points Transferred from Qantas Amex Ultimate Card
28,580 Velocity Points with 13 Status Credits
8,989 Flybuys Points
What would you suggest the best way would be to maximise the saving and the points currently banked?
Looking forward to your reply.
That sounds like a really smart strategy on your part.
I have been offered a flat 15% transfer bonus as i have been a Velocity member for less than 45 days. Looking to transfer points from Amplify & ANZ Rewards. Advise please on whether to take the bonus or is there a good chance of a better bonus?
Thanks
Did anyone get the two single entry Virgin Lounge passes?
I transferred over 100,000 Velocity points from my AMEX card on 6th June and received the points plus bonus points but no sign of the 2 lounge passes.
For example, I have two ANZ rewards accounts (business + personal) amongst flybuys where the transfers will attract bonus points.
Am I able to transfer from each of these (i.e. 3 transactions) and still receive the bonus points? On that note, if I transferred my points from the same account in two goes will both transfers receive the same bonus?
Cheers
Do you reckon the soft landing would apply to those who gain the status through the Amex 250 or 500k transfer bonus?
However its still a better transfer for CBA Diamond and Platinum customers compared to FlyBuys even with their 20% bonus. Im guessing FlyBuys is more keen on you spending their points on Coles vouchers and keeping the money in house.
a. Go to anzrewards.com (its not particularly user friendly as you probably know).
b. Go to Redeem Points > Frequent Flyer and Airmiles > VELOCITY TRANSFER from ANZ REWARDS CARD (EXP) – note that there’s no mentiopn of any bonus anywhere.
c. I need to move 400,000 ANZ rewards to receive 200,000 Velocity Points.
My questions:
1. Does the above amount include the bonus or is it applied once the points land in my account (https://www.velocityfrequentflyer.com/content/MyAccount/). Note there’s no mention of any bonus on Velocity either (https://www.velocityfrequentflyer.com/apps/velocity/minisite/credit_cards/index.html)
2. How much will the bonus be?
Thanks
We held off traveling in April because I saw this news and waited till May but with CBA not entitled, might have to try transferring from Flybuys. Can anyone confirm if the current Flybuys points transfer tool on their website is showing points with or without bonus? I have this feeling it is not but all the text and images around it seem to make you think it is??
Looks like ill be hoarding my altitude points for a little (maybe lot) longer
Correct my calculations if they are incorrect
Currently you can buy 20000 starpoints for $455 USD approx. $603.44 AUD
The 20% bonus is calculated on the base points being transferred I believe? 1:1
So 20000 x 20% + 5000 bonus transfer = 29000 velocity points
29000 velocity points for $603.44 depending on exchange rate equates to about 2c AUD a point?
Is this reasonable to buy speculatively or would American Airlines advantage points be more worth it for flights?
I see that Comm Bank doesn’t seem to be participating in these bonuses anymore… I have a lot of Comm Bank Points I want to transfer to get some type of bonus… Is there a way to do it via Hotel programs or any other cheeky way?
I read above that some Comm Bank card holders got lucky but was hoping to try and more proven way rather than risk missing out with a direct Comm bank to Velocity transfer… the difference between success and failure would be about 40k in Velocity Points.
Thanks for the help.
I’d also recommend examining the CommBank Awards program more deeply and considering earning points with a more generous program like Amex.
“Velocity members must transfer their ANZ Reward Points between 1 May to 31 May (Promotion Period) to receive the ANZ 30% Booster Offer Points in addition to the 20% bonus Velocity Points. The ANZ 30% Booster Offer will be calculated as the percentage of the base number of Velocity Points you will receive when you convert your ANZ Reward Points to Velocity Points during the Promotion Period, before any other bonuses are applied. View ANZ 30% Booster full terms and conditions.”
https://anzrewards.com/public/info.aspx?name=velocity_may_2018
I’ve PDF’d that page, and send a test couple of thousand to Velocity, but that seems like what I’ve been waiting for. This seems the perfect opportunity to clear out my ANZ Rewards and Flybuys all in one hit!
H/T Australian Frequent Flyer
Did you notice the ANZ boosted offer in the T&C’s of 30% & 20% for ANZ rewards & Business rewards? The wording seems to imply that this bonus applies over & above the flat 20% offered by velocity, strange there’s no other mention of it in the main part of the promo information.
Lets hope the hype they are building around it is real.
Any guessess folks? I am thinking may be a 50% transfer bonus and some status credits to boot.
Tks KB
I will be 170 SC off “keeping Gold” by June 2018. Thought the cheapest way to get over line is reward discount Business. 🙂
Or, should I just go down to Silver, & try to make the NEXT year a bigger one?
Thanks.
(I couldn’t find this info anywhere on Virgin’s website).
Scott. based in BNE
Matt, are you aware of any past offers where the bonus for Flybuys to Velcoity transfer was greater than 15%
And generally I transfer to DJs because they do price beat guarantees.
Can someone please check my math!
I have 800K ANZ Rewards. Usually 1 Velocity is worth 2 ANZ. If I transfer to Velocity before 10 Dec I get a 30% bonus, so 520K Velocity points.
520K Velocity points can get me $3,398.69 value of David Jones gift cards ($1000 DJs card currently costs 153K Velocity Points (there’s a 15% discount til 15 Dec).
If I keep my ANZ Rewards in ANZ I can get $3,599.96 value of DJs gift cards ($1000 currently costs 222,225 ANZ Rewards).
Unless I am wrong the only reason to transfer to Velocity is to spend the points on Virgin fights/upgrades etc?
Enough for 1 Round trip First Class from Australia to Europe [Valued at Approx $15K]
[Almost] enough for 2 Round trips Business Class from Australia to Europe [Valued at Approx $20-25k]
Compared to DJ’s gift cards.
Hope this helps!
Boost your Velocity Points balance!
You still have time before Christmas arrives! Transfer your flybuys points to Velocity and receive 15% BONUS Velocity Points when you transfer before 10 December 2017.*
TRANSFER
1. See how many points you can get using the credit card rewards program transfer wizard (e.g. 104,000 CC points = 41,600 + 15% = 47,840 velocity points)
COMPARE GIFT CARD EXCHANGE RATE
2. See what gift cards are worth in credit card portal: 104,000 CC points = $500
3. See what gift cards are worth in velocity so 47,840 velocity points = ($250/45,000)*47840=$265.78
COMPARE FLIGHT EXCHANGE RATE
4. Find a baseline flight value e.g. BNE-SYD on 6 March = $99 flights via VA
5. Velocity points = 11,800 velocity points
6. CC points (via Citi Thankyou Rewards travel portal) = 17,044 points
Value of Citi Thankyou Rewards point:
– Pre-exchange Gift Card = $500/104000 = 0.48c per initial CC point
– Pre-exchange Flight Redemption = $99/17044 = 0.58c per initial CC point (which for 104000 would require $604 gift cards to break even… this one is winning)
– Post-exchange Gift Card = $265.78/104000 = 0.26c per initial CC point
– Post-exchange Flight Redemption = (($99/11800)*47840)/104000 = 0.38c per initial CC point
So I’d be better off booking this flight through the CC rewards portal??
Any thoughts on figuring out when it would make sense? Is it more of a flight by flight comparison??
I’d need to do this same thing for Flybuys too
Is this promotion mention about the duration of processing period for the Velocity tier showing in your account after the points transaction?
I can’t find reference to such on the Expo pages on the VA website.
That’s far too many points to transfer without sighting an original of the offer and having a copy at hand to ensure compliance by VA !
Thanks!
Keith received this offer via email as he is a Platinum Charge cardholder, and it has also been covered by AusBT and OzBargain, plus the terms and conditions in the email state nothing about it being a targeted offer to only some Plat Charge cardholders, so I’m almost 100% positive this is open to all.
However, you may want to give Velocity and/or Amex a call before you transfer to make sure you are eligible.
But doesn’t the Platinum Edge earn Ascent points? Just clarifying that you meant Ascent VS Ascent Premium instead?
As for the elite status promotion, you have to have an Amex Platinum Charge, Business Platinum Charge or Centurion Card, which are all issued directly by Amex, not any bank.
I transferred my NAB rewards points on the 22nd of June 2017.
To get the 15% bank transfer bonus offer but velocity told me I wont get the bonus points because the offer was only for May 2017.
Have you got the anything from you above article showing the offer after May 2017?
Has anyone gotten the full bonus 6000 points ? looks like only got 5000 bonus points.
Transfer from SPG came in as 25000 base , 20% promo 5000 points, SPG 5000 Bonus for transferring 25K, no 20% bonus on this . Full total of 35000 points … worth trying to put in a missing claim for the 1000? or will be knocked back as only the 20% bonus on the base ?
If you’re just short of the redemption, then you can check out our Velocity bonus offers guide, transfer flybuys to Velocity, or buy a minimum of 500 Starpoints but note that non-elite SPG members have to transfer at least 2,500 Starpoints to frequent flyer programs.
Interestingly, the Altitude guy reckoned the promo would apply for auto-sweeps in JUNE also, i.e. not just at my May statement date but also my June statement date. I think he is getting confused with the T&C’s that cover someone who opts in prior to 31 May but whose next statement date is 1 Jun, for example. That is, everyone is covered for 1 month, no matter whether their next statement date is May or June. Anyone care to check my reasoning?
Great work for keeping us on top of this. I note with interest that Velocity are giving away a BILLION points in conjunction with this transfer offer. Is it any wonder that reward seats are getting more expensive and more scarce.
Can we expect this offer again in May? I have a stash of ANZ Rewards points that will need to be moved as I am going to cancel the card before the next annual fee is due. I understand that I have 90 days to transfer the points after account closure, but even so they will need to be moved before Nov / Dec 2017.
Thanks
So, you would be trading away 50% of your points to get 15% back?
“As a Platinum Card Member, you’ll receive 30% bonus Velocity Points when you transfer 2,000 or more Membership Rewards points to your Velocity Frequent Flyer account between 1 November and 30 November 2016.1
This means 1 Membership Rewards point is equivalent to 1.3 Velocity Points when you transfer your points during the month of November.
This special offer is an additional 15% on top of the publicly available bonus offer of 15% and is available to you as an American Express Platinum Card Member.”
As a Centurion Member, you’ll receive 30% bonus Velocity Points when you transfer 2,000 or more Membership Rewards points to your Velocity Frequent Flyer account between 1 November and 30 November 2016.1
This means 1 Membership Rewards point is equivalent to 1.3 Velocity Points when you transfer your points during the month of November.
This special offer is an additional 15% on top of the publicly available bonus offer of 15% and is available to you as an American Express Centurion Member.
I wonder if they will ever be a flybuys to velocity bonus offer again
I have around 175k of Amex reward points from the platinum charge. Do you think its worth transferring to velocity even though i have no immediate travel plans?
They also allow transfers to Qantas FF.
I’m a bit late to the party with the point hacks business and have started reading your guides but I’d just like some advise on whether to take advantage of this bonus transferring from CommBank Diamond Awards or using the points at Flight Centre? I have a wedding to attend in Bali next June and would likely travel on to another SE Asian country from there.
Thank you in advance,
Tobias
If I transfer my ANZ rewards points to Velocity and pick up the 15% bonus can they sit there as long as there is activity on my account or do they expire after a certain period.
Are Citibank normally excluded from this offer?
I have about 260,000 Citi rewards points.
Thanks
Ray
I’m only 5 status points away from hitting gold after I take my flight to Sydney (from Adelaide) but that will bump up to 30 points a month after that and I might not be taking another flight before then. Just wondering if you know any other way to get status points apart from flying. It doesn’t seem like you can – even with a credit card or hotel deal.
Any feedback would be much appreciated! Thank you, James
In response to you saying that you didn’t have to pay any additional points after the promotional period ended, I noticed this clause at the bottom of the email.
“Changes to discounted Reward Seat bookings made outside of the promotional period (1 May – 30 June 2015) may result in a loss of the 15% discount and an additional collection of Points may be required.”
I guess you got lucky!
For those interested, Etihad’s A380 apartment to JFK is wide open at the moment. So we can fly SYD-AUH-JFK, 28 hours of ultra luxury for only 187.5k miles (unfortunately you can’t get 15% discount for EY flights). But consider AA would charge 150k for the same route, it is good deal, especially factor in the 15% bonus.