Lastest Flybuys - Velocity Transfer promotion [share in 10m points]

[jkbaus]

Did a couple of 2000 and family pooling from flybuys.
Nothing showing in my account

 

[Ms_KH]

I got this as well - I assume it was from another Velocity promotion they ran in January. It was win a share of points if you book a flight.

 

[MooTime]

Got email from virgin just now. The 2509 points from the book a flight 25M offer.
That sorts it out for me.
Thanks

 

[Jurahn]

There is another offer if you book a flight with Virgin over the next couple of days "Simply register below with your Velocity membership number, book an eligible Virgin Australia fare or Virgin Australia Holiday Package between 14-25 January 2019, and we’ll reward you with your share of 25 million Velocity Points*." Has anyone had any previous experience with these offers and what did they recieve?

I just got an email for this one today advising I'd received 2,509 points as my "share".

 

[ja1]

I just got an email for this one today advising I'd received 2,509 points as my "share".

Any chance you could repost with:

number of flybuys you transferred
actual velocity points you received (noting 15% bonus?)
bonus points received as part of the offer - which then equated to additional XX% bonus?

If it works out to be essentially 'free bonus points' which gives you additional value to overcome the loss in value in the transfer..

I'm not a fan of moving flybuys into VFF as my maths always seems to say that using the 'native' currency for products always seems to get better value than moving it (I use Coles Flybuys to buy discounted Coles products and Velocity FF to buy VA flights) but I understand that some people might use more of one than the other.. (or in their minds, prefer to subsidise one using the other - it's much sexier to fly somewhere using points than buy additional groceries I guess?)

 

[McLarin]

Apologies for the confusion everyone. I honestly wasn't aware I had signed up to another promo. Thanks to those who cleared it up. Once again, sorry everyone.

 

[aaronm]

Still a fairly solid bonus for that promotion, 2509 points is about 5x what I’ll earn on the actual airfare booked for it!

 

[Nick C.]

Yes, that's how I calculated it and rounded up to 4c per point.

Strange thing just happened - I booked a rewards seat ADL to MEL one way in business class. I had a look at what the cash fare would have been and I arrived at a calculation of 3.91 cents per point... exactly what they said in the small print in this promotion.

If I can value points at such a high amount, that means a Flybuys point is worth 1.7 cents (assuming you transfer to velocity at the regular rate). A 1,000 point flybuys bonus is therefore worth $17... pretty good if, for example, you get the click and collect bonus from Liquorland on a $17 bottle of wine as it renders the wine effectively 'free'.

 

[Harthagan]

Strange thing just happened - I booked a rewards seat ADL to MEL one way in business class. I had a look at what the cash fare would have been and I arrived at a calculation of 3.91 cents per point... exactly what they said in the small print in this promotion.

If I can value points at such a high amount, that means a Flybuys point is worth 1.7 cents (assuming you transfer to velocity at the regular rate). A 1,000 point flybuys bonus is therefore worth $17... pretty good if, for example, you get the click and collect bonus from Liquorland on a $17 bottle of wine as it renders the wine effectively 'free'.

Its only worth that much if u would have paid that amount for a business class ticket in the first place. For most people that would not be the case. Myself for example, i value velocity points at 2c each. But thats based on what i would pay for the award flights i can use the points for.

Also remember that u get status credits and velocity points if u were to pay with cash which u dont get when booking an award saver seat with points.

 

[oz_mark]

Its only worth that much if u would have paid that amount for a business class ticket in the first place. For most people that would not be the case. Myself for example, i value velocity points at 2c each. But thats based on what i would pay for the award flights i can use the points for.

I would counter that by saying that many people wouldn't pay for those business class tickets because they can't. On that basis, I think it is fair to use the cash price of a business class fare as a basis of calculation - using points makes it possible.

Having said that, people can use whatever valuation they feel happy with. We are all different, with different motivations and desires.

 

[twiningb]

I've just received 392 points labelled "flybuys transfer surprise". It looks like I did four transfers during the period, so I guess 98 per, for a total of ~102,000 transfer blocks?

 

[Harthagan]

I've just received 392 points labelled "flybuys transfer surprise". It looks like I did four transfers during the period, so I guess 98 per, for a total of ~102,000 transfer blocks?

Yup luckily i only transfered 1/3 of my flybuys for this promotion. It fell 33 velocity points shy of breaking even with the more common 15% transfer bonuses.

 

[Mr H]

If this is correct then my 25 transfers have cost me 875 points. I can live with that. It was always a gamble with potentially large rewards if very few people bit but not much to lose if it was well-subscribed.

Still disappointed not to be getting the 2509 points per transfer that I had already started to spend in my mind...

 

[serfty]

Received an email

You successfully participated in the flybuys and Velocity transfer surprise competition. Your share of 10 million Velocity Points has now been credited to your Velocity account.

So go to my account and see the 98 points. SWMBO got another, but that's it.

Interesting notation "flybuys transfer surprise".

 

[RisingPhoenix]

Surprise VA and FlyBuys can't credit all at once again!

Strangely enough, received the email, see how long it take for the points to credit I guess.

 

[GJB68]

Received the email from Velocity at 2.02pm on Saturday:
"You successfully participated in the flybuys and Velocity transfer surprise competition. Your share of 10 million Velocity Points has now been credited to your Velocity account."
Nothing has come through to my Velocity account as yet. I made 24 transfers of 2000 flybuys for total of 24 x 870 = 20,880 points.
Was hoping for more than the regular 15% bonus, but at this stage nothing!

 

[docjames]

Yep, 98 point "surprise" arrived.

 

[Mattg]

If 98 points is the "share" of 10 million points being offered, this would mean there were ~102,000 transfers of 2,000 Flybuys points over the space of the month.

That means Velocity sold almost 89 million points to Flybuys during the promo period. If we assume that Velocity sells points to flybuys for 0.8 cents each (I have no idea if this is the actual price), that means Velocity received ~$710,000 in income from Flybuys. If this roughly represents the monthly average of points transferred, it means Velocity makes ~$8.5 million in annual income from Flybuys transfers. Not bad.

Just some random musings...

 

[Mr H]

I am guessing that Flybuys pays much less than 0.8c per Velocity point, and also that Velocity would have to pay VA or *A partners for redemptions. Obvs it should work out as a cash gain for Velocity, but I'd guess it is small beer compared to credit cards.

 

[Mattg]

I am guessing that Flybuys pays much less than 0.8c per Velocity point, and also that Velocity would have to pay VA or *A partners for redemptions. Obvs it should work out as a cash gain for Velocity, but I'd guess it is small beer compared to credit cards.

That is probably all correct. My calculations make several assumptions and only look at the revenue side.

That said, I doubt Velocity would sell points for much less than 0.8 cents each. They need to make some margin on them.