Changes to Qantas Travel Money effective 27 February 2024

[AustraliaPoochie]

They (both sides) would have know about it a long time ago.
My point about the ACCC saying no, is that with EML having all the prepaid cards in their system, we, the consumer, have no choice of who we go with.
But in the end, they probably don't really care.
(((Like the annual rise in Auspost BPC, (basic postage charge), sure that part will go up, $1.20 to $1.50 for a bit of paper and an envelope))).
If EML can earn from interchange fees, and from interest earnt on assets in accounts, ie, cash not being used, and the data held, ... they will be a very rich in money terms and data terms too.
What say, down the track, or runway, like VGW, they decide that its too expensive to run, and shut QTMC down, like CUSCAL did with VGW.
Wouldn't be surprised.

 

[jpp42]

Here's an article about EML:

EML Payments — Storing up value

www.edisongroup.com

If I interpret that correctly, EML has already been the supplier of white-label services to some stored value cards, but partnered with Heritage Bank to issue them in Australia previously, perhaps because the regulations at the time required a banking license. Now that Fintech companies can directly issue such products, Heritage is no longer required as a partner. (I've found several other cards' terms and conditions that reference both EML as card services operator and Heritage as the legal issuer.)

I can't find any evidence that Qantas Travel Money cards in AU previously had any connection to EML, however, so I suspect EML has simply won the business, not acquired it from Heritage - as noted for an ASX listed company this seems like it would have been big enough to announce.

Note: Qantas Cash cards in NZ were issued by EML from 2020, so this is not the first deal that Qantas has had directly with them.

 

[oz_mark]

I can't find any evidence that Qantas Travel Money cards in AU previously had any connection to EML, however, so I suspect EML has simply won the business, not acquired it from Heritage - as noted for an ASX listed company this seems like it would have been big enough to announce.

It seems odd that Qantas, Australia Post and Travelex are all changing to EML on the same date....

 

[AnneR]

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?
EML was based solely on cost or if there were other factors involved. Your recommendation of resource for further discussion and insight into ico-forums seems fitting given the complexities of evaluating financial services providers like EML. It's always beneficial to seek out diverse perspectives and information sources before making any decisions.

Hey hey,

It's important to approach reviews with a discerning eye, especially those found on platforms like Trustpilot. While they can offer insights, they may not always be representative of the overall customer experience.

 

[SYD]

I just tried to load some money onto my card to see if they send me a new physical card but when I selected “Bank transfer” and “Accepted” the $50 (min) transfer it just went whoosh and processed the transfer to a BSB* / Acc # I don’t recognise!

It was years ago that I first set this up and no idea how I linked a bank account and can’t find anything online / in app to display or change the linked account!

Edit:
Now, if I’d read the subsequent email correctly. It’s telling me to send money to that BSB/Acc#…..

Does anyone know how to do that?

I put a reminder in my calendar to call them on Monday….

*Curiously, the BSB is Heritage bank so I’m now wondering if that’s an intermediary to another account….?

 

[AustraliaPoochie]

Hmm, as far as I know, when EML took over from Heritage, they didnt change the BSB or account number, when we use "bank transfer" to move money to the QTMC.
If you didnt change the BSB, have a look at your QTMC account later tomorrow, or next week, as it takes a day and a bit to get acknowledged by the EML payments that a deposit has occured.
At the moment, when I log into my QTMC account, on the appk it just circles and circles and circles, and goes no where.
Unless tho, they have now decided to use the new BSB and account #.
Havent taken an indepth look at QTMC since they announced the changes, and just 3 days after.
They might have decided to change to desto BSB & account # now.
Have a look at the QTMC website and see what it says.
Or QTMC T&Cs.
Havent had the chance to check the QTMC website of late, I mean, in the past few days.
Will do so now.
===
Yes, there is a change: my bad, it was the BSB and account number SYD was talking about, sorry.
I dont use their Bpay facs.
So maybe Bpay for them havent changed either.
Cut and paste:
For BPAY Loads: Biller code: 535807Reference no: Your 16-digit Qantas Travel Money number on the Qantas Travel Money side of your CardGo to your internet banking
Previously, it was
880116 and then account #
Will have to change mine now too, thanks SYD.
---
But for bank transfer:
its still the same, tho.
Cut and paste:
For Bank Transfer Loads:BSB: 880-116Account Number: 9 digit account number to be retrieved from‘‘Account settings’ within qantastravelmoney.comAccount Name: ‘Your Name
The QTMC circle of death is still going round on the app.
But on the website, it the same, and transfer Thu, app Fri this week, did not change QTMC BSB & account #.
===
Something just plinged in my dog mind, is the latest email you got kosher tho SYD.
Hopefully you havent falled for a pshish.

 

[jrfsp]

So ausbt is reporting the new travel money card will be a separate card to the frequent flyer card - expect a visa pre load cash type card. Seems a bit of a step backwards that it can’t be integrated into one card although there isn’t really a need for a frequent flyer card anymore.

 

[oz_mark]

So ausbt is reporting the new travel money card will be a separate card to the frequent flyer card - expect a visa pre load cash type card. Seems a bit of a step backwards that it can’t be integrated into one card although there isn’t really a need for a frequent flyer card anymore.

It's being renamed and split off as a standalone card as discussed yesterday.

Qantas Travel Money changing to Qantas Pay - May 2024

Qantas has announced that Travel Money is becoming Qantas Pay as of 21 May 2024. It will have an impact on cards and accounts - anyone who hasn't signed up to Travel Money but was planning on using it in the future is being encouraged to hold off until 21 May when the changes take effect. New...

www.australianfrequentflyer.com.au

 

[jrfsp]

It's being renamed and split off as a standalone card as discussed yesterday.

Qantas Travel Money changing to Qantas Pay - May 2024

Qantas has announced that Travel Money is becoming Qantas Pay as of 21 May 2024. It will have an impact on cards and accounts - anyone who hasn't signed up to Travel Money but was planning on using it in the future is being encouraged to hold off until 21 May when the changes take effect. New...

www.australianfrequentflyer.com.au

Thanks - missed it!

 

[AustraliaPoochie]

Most likely, its EMLs idea, and the QFF side agreed to it.
Makes it easier for them t produce, for EML to produce that is, they also have taken over Auspost and several others.
Mybe too, one day, EML might decide to close it off.