Changes to Qantas Travel Money effective 27 February 2024

[clifford]

I received an email today advising of changes to Qantas Travel Money. The Issuer will be changing from Heritage and People's Choice Limited to EML Payment Solutions Limited.

So I had a look at EML's reviews on TrustPilot, and it makes for interesting reading.

 

[Telemachus]

I received an email today advising of changes to Qantas Travel Money. The Issuer will be changing from Heritage and People's Choice Limited to EML Payment Solutions Limited.

So I had a look at EML's reviews on TrustPilot, and it makes for interesting reading.

Received the same notification but hadn’t yet looked into EML; prompted by your post, I have now done so…! As you say, ‘interesting’ reviews on Trustpilot, many from disgruntled purchasers of EML’s UK gift cards who have a tentative grasp of grammar. I wouldn’t attach too much weight to those reviews alone but other insight via Dr Google fails to inspire confidence about becoming a customer of EML. While I have been less than happy with the IT functionality and customer service from Heritage Bank the signs are that EML could be worse. Presumably QF Money re-tendered and EML’s bid was lower than Heritage?

 

[RooFlyer]

I got the same, even though I haven’t had a Qantas money card in many years. I have a plain Qantas platinum card without anything on the back except the usual gumph.

Wonder what happens if I call up and say I decline the changes

 

[RichardMEL]

Wonder what happens if I call up and say I decline the changes

see the thread on the App health declaration...

Perhaps you can claim the Montreal Convention....

 

[Rembrandt]

I suspect the direct deposit details for transferring money onto cards will change as well and should be communicated.

 

[AustraliaPoochie]

So more of our data also now goes overseas.
Haven't checked my email, but I can only see trouble ahead when things go wrong, and we have to phone the call center up.
This brings mockery to VH looking into bringing QF & QFF call centers back to call centres.
Must be cheaper for them to operate it from the subcontinent.
---
Edit: indeed its worst than QFF's overseas centers now, customer service is uncontactable.
Maybe I won't continue with it after my current card expires.
EDR & BP me is enough.

 

[Ansett Nostalgic]

Does Executive Traveller still think Qantas Travel Money is the best way to spend overseas?

 

[AustraliaPoochie]

Wonder if EML approached QF that they could do it cheaper.
Or maybe that Heritage didn't want to run it anymore, or assessed it as non core and not in their future plans.
Even Auspost now have stopped the rechargeable cards, and only now have one use gift cards.
If you pick on their cards section, the one use gift cards is the only one that comes up.
Coles no longer has the rechargeable ones either.
We do have Wise, but I think that one too is owned/main based overseas.
Or it was it something else.
Have taken off my major direct debits from the QTMC now, and only put small amounts in there to keep my QFF account alive.
Will wait and see what happens down the runway.
Still have a few years to go on the card.
---
The Auspost one is also being taken over by EML.
Even the Travelex card is going to EML.
They are onto a winner here.

 

[AustraliaPoochie]

Just had a light bulb moment, with these changes, it also means that we have to set up different BSB and different account numbers for topping up the QTMC, ...
For those of us who have it, and use it regularly.
If you or I use more than one account to put money into it, it means a set up of more than once.
Hopefully, they don't have 2fa to set up, or there will be more time needed for setting up payments systems into the QTMC.
If one of us takes 1 min, x by how many debit/transaction accounts you or I use, x by the number of people who do still use the card, will be a lot of time wasted in the month to set it all up.
Seems EML already has a bsb with ANZ in Bundall Qld.
Heh, they don't know what they are getting into, heh heh heh.
Wonder how many Aussies hold the QTMC, they will be swamped, not only with us, but for every other Auspost and Travelex card systems they are taking over.

 

[RichardMEL]

Hopefully, they don't have 2fa to set up, or there will be more time needed for setting up payments systems into the QTMC.

2FA or MFA is something EVERY financial instition and transaction system should have - most specially for changing payees and other sensitive tasks.

It may annoy you like secondary screening at security, but may also save you from potential fraud/loss of money.

 

[bam71]

Can i ask why people would use QF travel money?

 

[serfty]

Can i ask why people would use QF travel money?

Promos only - and there hasn't been a worthwhile one for over a decade or maybe even shortly after it's introduction.

Last year I found I had a small balance of a few USD that I had forgotten about. That explained why I had still been getting a new card every membership year during COVID where many others had not.

 

[justinbrett]

Can i ask why people would use QF travel money?

If you wanted a physical QF card during covid.

 

[Jean Prouvaire]

Can i ask why people would use QF travel money?

Every so often there are offers for a decent amount of bonus points if you put money onto the card. You probably get a worse exchange rate compared to some other providers, but if you think of premium you pay as a "pay $X for Y,000 points" trade off, it can be worth it.

 

[justinbrett]

It never hurts to have $50 stowed away on another card in case something happens to your credit card(s)

 

[opusman]

I still have $10K USD on mine that I bought at about 96c. Not 100% happy about the idea of it now being run by a "non-bank", even if they are properly licenced etc. Just need to get back to the USA to spend it!

 

[jpp42]

. Not 100% happy about the idea of it now being run by a "non-bank", even if they are properly licenced etc.

I'm not across the details of why, but the whole international transfer sector seems to quickly be moving to an array of non-banks, with newish players like Wise, Revolut, etc offering modern products with much lower spreads than the industry had been accustomed to. Whether Qantas takes the opportunity to make the cards more competitive with those remains to be seen, or maybe they will just pocket higher profits from the usurious spreads offered by this card?

 

[henrus]

So it's not just Qantas...

I have a Cash Passport card, I only got it for free to load with $100, empty and then use the 3 months free boingo wifi and have received the following info (same as Qantas) - https://www.cashpassport.com.au/media/227913/hpc-to-eml_notice_cash-passport-003.pdf

I quick google search also shows other prepaid cards are changing:
A preloaded card used by airlines during delays - Notice of change to the Compensation Card effective 27 February 2024 - Flight Disruptions
The Travelex Card:

Travelex Cash Passport | Prepaid Currency Card

Reload your Travelex Cash Passport and view your account details here. Also, learn more about the Travelex Money Card - the ideal prepaid card solution.

www.travelex.com.au

and Auspost:

https://auspost.com.au/content/dam/auspost_corp/media/documents/notice-of-change-everyday-mastercard.pdf

There is some talk that EML has acquired or is in the process of acquiring most (if not all) of the prepaid mastercard business in Australia. I don't know how true it is and it's hard to tell because despite them being ASX listed (ASX:EML) they haven't put anything out, the share price did jump a bit around 15 Jan when this whole change thing was announced.

 

[AustraliaPoochie]

No, its not only QTMC.
EML have take over everything prepaid cards related.
Data gold mine, ACCC should have stopped it.

 

[oz_mark]

Something must have gone on behind the scenes, and the way it's written makes me think EML have bought that particular business of Heritage.