250,000 Velocity points for new NAB home loan customers

[clipped_wings]

Here's the thing that is perplexing: we all know how easy it is to transfer points. You simply type the name and VFF number of the recipient, determine how many points you want to transfer and ba bing ba bang - the points are there. You even get a nice email from Velocity.
How is it then, that a juggernaut like NAB cannot perform this function? I realise that the process is a lot more complicated when it's part of a home loan, but surely having to reimburse people with cash is a disturbing trend that would indicate some rather serious back of house issues with their promotion.
All I can say is keep us posted and I am sure the points will be there eventually. You certainly don't want to start a long term association with your bank in a negative way, but let's hope they follow through sooner than later. Meanwhile, I am going to walk into our branch tomorrow and get some more advice on our application......

 

[clipped_wings]

Update on previous post: I was informed yesterday by branch staff that the points can take up to 4 months to appear AFTER the first statement after home loan drawdown, or eligible purchase on the credit card (or both in the case of home loan + credit card) This is contrary to their advertised 90 days, so please check your statement date, as you may still be within this time frame. Again, some more clarity in the T&C's would have been appreciated.

 

[Arrow29]

Update on previous post: I was informed yesterday by branch staff that the points can take up to 4 months to appear AFTER the first statement after home loan drawdown, or eligible purchase on the credit card (or both in the case of home loan + credit card) This is contrary to their advertised 90 days, so please check your statement date, as you may still be within this time frame. Again, some more clarity in the T&C's would have been appreciated.

Thanks for the info. Guess I can stop checking my Velocity account every day now, since my drawdown was mid December..although who am I kidding, I'm still going to

 

[clipped_wings]

Thanks for the info. Guess I can stop checking my Velocity account every day now, since my drawdown was mid December..although who am I kidding, I'm still going to

Yeh, it's not great news, sorry - but just spend the next couple of months dreaming what you are gonna do with all those delicious points! I have accepted the fact that ours may not materialise in the timeframe that I would like, but when they arrive, boy will I be checking flights.....................!

 

[RAM]

Yeh, it's not great news, sorry - but just spend the next couple of months dreaming what you are gonna do with all those delicious points! I have accepted the fact that ours may not materialise in the timeframe that I would like, but when they arrive, boy will I be checking flights.....................!

Call up Fair Trading and you will get them as advertised.

Do not let NAB get away with mucking you around. Should also claim compensation for lost time and value etc.

 

[exceladdict]

Should also claim compensation for lost time and value etc.

OT, but imagine if VA devalued their points while waiting for this. I wonder what the compensation claim could be.

 

[Blackswan]

OT, but imagine if VA devalued their points while waiting for this. I wonder what the compensation claim could be.

The thought has crossed my mind.

I'm more worried about reward seats being available, but not being able to book because the points haven't arrived - then for them to be snaffled up by time the points hit. I'm thinking I'll start looking at the flights I want, and screen shotting them. It's a quantifiable loss if they disappear - at which point I can request the NAB ask Velocity to open up reward seats, or book me a revenue seat. The alternative is to lodge legal action against them.

I'm starting to get annoyed now.

 

[RAM]

The thought has crossed my mind.

I'm more worried about reward seats being available, but not being able to book because the points haven't arrived - then for them to be snaffled up by time the points hit. I'm thinking I'll start looking at the flights I want, and screen shotting them. It's a quantifiable loss if they disappear - at which point I can request the NAB ask Velocity to open up reward seats, or book me a revenue seat. The alternative is to lodge legal action against them.

I'm starting to get annoyed now.

You entered into a legally binding contractual arrangement with NAB. Part of that contract was (as advertised) that you would receive 250K points within 90 days.

You haven't.

NAB have breached the contract - you are legally entitled to damages as well as the performance of the contract as stated.

After all, NAB gave you several pages of info about ALL THE FEES/CHARGES you are liable for on on-performance under the contract. Such as late payment, dishonoured payments etc etc.

Fair Trading should be interested.

One IMPORTANT point - always follow up a phone call or face-to-face discussion with an email confirming what your understanding of the conversation is. If you cc the branch manager then you have TWO people worried.

If nothing happens then it clearly shows the branch manager is also at fault.

ATTACK!

 

[Blackswan]

You entered into a legally binding contractual arrangement with NAB. Part of that contract was (as advertised) that you would receive 250K points within 90 days.

You haven't.

NAB have breached the contract - you are legally entitled to damages as well as the performance of the contract as stated.

After all, NAB gave you several pages of info about ALL THE FEES/CHARGES you are liable for on on-performance under the contract. Such as late payment, dishonoured payments etc etc.

Fair Trading should be interested.

One IMPORTANT point - always follow up a phone call or face-to-face discussion with an email confirming what your understanding of the conversation is. If you cc the branch manager then you have TWO people worried.

If nothing happens then it clearly shows the branch manager is also at fault.

ATTACK!

Haha. Yes, I've already lodged complaints with the Ombudsman (who's already passed it onto NAB, for them to respond). I've also lodged a complaint with WA Fair Trading.

In addition, I've been following up with the Branch Manager (via email, and in person), and the Social Media team. I started to up the ante when my Case Manger in the resolutions team basically told me to sod off.

 

[clipped_wings]

Bugger. I was hoping that by now you would have some good news for us all. I am watching your case with great interest as we are still only at the application stage, no formal offer yet, so we are still placed to back out if we suspect there is foul play from the NAB. In this age of social media and it's global reach - I would assume there is so much for both Velocity and NAB to lose in their reputations, so I am astounded that there is such little action from the resolutions team. Shame on whoever is responsible for this.

As for the points and reward seats being available to you in time, unless we can ascertain who is dragging the chain here, you may not have much recourse. Either NAB is reneging or Velocity is, so it looks like a pretty cosy situation for the actual culprit to avoid their obligations and blame the other.

 

[Blackswan]

Bugger. I was hoping that by now you would have some good news for us all. I am watching your case with great interest as we are still only at the application stage, no formal offer yet, so we are still placed to back out if we suspect there is foul play from the NAB. In this age of social media and it's global reach - I would assume there is so much for both Velocity and NAB to lose in their reputations, so I am astounded that there is such little action from the resolutions team. Shame on whoever is responsible for this.

As for the points and reward seats being available to you in time, unless we can ascertain who is dragging the chain here, you may not have much recourse. Either NAB is reneging or Velocity is, so it looks like a pretty cosy situation for the actual culprit to avoid their obligations and blame the other.

I entered into a contract with NAB, therefore they (and not their vendor or supplier) are liable. If myself or anyone else does decide to take action against the NAB, it's up to the NAB to include their vendor in a counter claim, or bring a separate action against them.

 

[yld200]

Thanks for posting your updates Blackswan. I ticked all the boxes to trigger the bonus points 2 weeks ago so I'll be reading with interest. My lender is very customer focused and has been following up with me to make sure I meet the requirements to activate the bonus before the 30 day deadline - My salary was the last box to tick since I get paid monthly. If my points don't transfer within the expected time frame, I'll be pushing him to do most of the following up, which I'm sure he will be doing.

 

[clipped_wings]

We all want those points to represent a fantastic flight experience in great seats and if nothing has happened by the end of February, then your quest to claim them stops being so fantastic. I did walk in and ask again today and this was their response:
"If the Customer has fulfilled all criteria, then the points will be allocated to the Primary Cardholder within 90 days." When I quoted your experience so far, she was very apologetic and explained that the Bank is powerless to enforce the gifting, but it would "certainly support any customer who is challenging Velocity for their entitlement".
I don't interpret her comments as being anything more than a superficial gesture to cross their fingers for you, but I am hoping that your outcome is the precedent for all of us here to refer to when we are getting anxious ourselves in few months time.

 

[Blackswan]

Well I just got an email from a different contact within the Resolutions team. He quoted my FOS complaint reference, and stated that the points were transferred today - and should be in my account by Wednesday at the latest. I will wait and see. It seems to go against everything I've been told so far - that the points can only be transferred on the last day of the month.

From everything I can gather, it appears as though Velocity (and not NAB) are managing the point allocation process. However, that is neither here nor there - NAB have put their name (and are legally responsible to deliver) to the promotion, so it's up to them to resolve with Velocity.

 

[RAM]

Well I just got an email from a different contact within the Resolutions team. He quoted my FOS complaint reference, and stated that the points were transferred today - and should be in my account by Wednesday at the latest. I will wait and see. It seems to go against everything I've been told so far - that the points can only be transferred on the last day of the month.

From everything I can gather, it appears as though Velocity (and not NAB) are managing the point allocation process. However, that is neither here nor there - NAB have put their name (and are legally responsible to deliver) to the promotion, so it's up to them to resolve with Velocity.

Have you received the 'responsibility of velocity' for the allocation in writing from NAB?

I would be VERY surprised if that was the case. Compare with the Velocity AMEX card. AMEX supplies regular data files to Velocity in the format required by Velocity and hey presto - the points are in your VFF account. Does work like magic in that case.

If you have this in writing - have you sought an answer from Velocity about the delay at all?

Not that you should need to as NAB made the undertaking and it is their contractual responsibility to ensure performance.

 

[Pele]

We all want those points to represent a fantastic flight experience in great seats and if nothing has happened by the end of February, then your quest to claim them stops being so fantastic. I did walk in and ask again today and this was their response:
"If the Customer has fulfilled all criteria, then the points will be allocated to the Primary Cardholder within 90 days." When I quoted your experience so far, she was very apologetic and explained that the Bank is powerless to enforce the gifting, but it would "certainly support any customer who is challenging Velocity for their entitlement".
I don't interpret her comments as being anything more than a superficial gesture to cross their fingers for you, but I am hoping that your outcome is the precedent for all of us here to refer to when we are getting anxious ourselves in few months time.

Gday

The NAB response sounds like a steaming pile of bs to me. I have worked for two companies who gave away QFF points in various promotions and it was simply a matter of the company working out how many points they need each month, buying them off Qantas who would bill them and the points were there straight away. They were then allocated to the customers. I imagine Virgin would be very similar. Airlines love selling points as they are the most profitable parts of their business by a country mile. Unless I am very much mistaken your loaded gun should be pointed directly at the NAB.

Pele.

 

[yld200]

Hi All,

Just wanted to share my experience, there is hope!!!

I applied for my loan in mid December, the loan drew down on the 20th of January and I ticked the final eligibility box on the 12th of Feb which was a salary deposit into the transaction account. This morning I received the velocity program updated which showed my points balance on the ribbon at the top of the email and low and behold my balance had increased by 250K points. Logged into my account which showed the points had landed on the 26th of Feb.

I honestly wasn't expecting anything until April so this was a nice surprise this morning. Overall I'm very happy with NABs service during the application process and the quick turn around with the points.

If anyone was thinking about this, I would encourage you to apply given my experience.

 

[Blackswan]

Well I've finally got my points. What a saga. After going through multiple front and back channels (including legal avenues), things seemed to progress quite quickly once the FOS became involved. For others in the same boat - just involve the FOS as soon as you can, and you'll save yourself a lot of time.

The way the bank has handled this has been pretty poor. No one took ownership, and there was never any apologies. Certainly not the way NAB should be treating their new customers.

 

[yld200]

Well I've finally got my points. What a saga. After going through multiple front and back channels (including legal avenues), things seemed to progress quite quickly once the FOS became involved. For others in the same boat - just involve the FOS as soon as you can, and you'll save yourself a lot of time.

The way the bank has handled this has been pretty poor. No one took ownership, and there was never any apologies. Certainly not the way NAB should be treating their new customers.

We've had two very contrasting experiences Blackswan. Your escalation and shake up with involving FOS may even be the cause why my points landed so quickly.

Now we get to the fun part and can start planning where our points will take us

 

[Oxy]

Hopefully this all runs smoothly now.

i recall a post up thread speculating what would occur should velocity have a points devaluation while 250k points were overdue.

lucky it wasn't too bad, but still could cause a negative value of points.