Transfer to Velocity 10-20% bonus promo - May/June 2026

Could someone clarify this point: auto transfer sign up means the whole of your balance PLUS your next two months' points would be transferred or the auto-transfer only applies to newly earned points [leaving the balance intact]? Guess the former applies but wish to be 100% certain. Thanks.
 
I'm sitting on quite a few Flybuys points now since I've been waiting for a 15% bonus transfer offer which never comes. Thinking it might be better value just to claim the $ off at Coles.
Over 100k here.

Waiting for a 5% transfer bonus (the best one can now expect unless it's your first transfer, but something that hasn't popped up since March last year) or a need to book something through SQ arises.
 
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