VA Global Wallet

[AustraliaPoochie]

Complicated, this one: Any colleagues who have set up a VGW account for relative (non VA flying person and not a pet) in the same house, and have successfully gotten VGW points to transfer to their VFF account where it can be transferred to you, the main player?
I have set up, with my mum's approval, a VGW in her name, and have money in the account.
Occasionally, I ask her approval and pay something from that account, ...
For my VGW in Mar 17, I have had a transfer, but her VGW transaction, late Feb of about $40, that 20 VGW points have not gone to her VFF account.
Long story, I thought all the other person in the household needed to have a separate VFF and VGW, for the the FB points account to be moved to the other person's VFF account whose points then go the main player's VFF account.
Turns out that the other does not need a their VGW account, silly me.
Edit: and yes, I do realise a person needs 5,000 VFF points to do a family transfer of points, (outside the parameters of FB).

 

[AustraliaPoochie]

Ok, re: my post above, so in the end the VFF points, from VGW have come through, the one apart from FB earn.
Must say, if anyone who has got kids who aren't allowed a Visa card (real credit), this VGW account issued to relatives is a good thing, with the points churned to the main flyer.
With FB, for SC and points earnt for purchases, also a good thing, with family pooling.

 

[AviationNZ]

Haven't read the full PDS, but just got an email re changes to the global wallet program (summary below). The extra earn has definitely got me thinking about using it more now, however, I still think the inactivity fee is ridiculous.

We wanted to let you know about some changes we're making to the Velocity Global Wallet® from 1 September 2017 under our updated Product Disclosure Statement.
* We are doubling the number of Velocity Points you'll earn when you spend overseas with your Global Wallet® card. You'll now earn 2 Velocity Points per AU$1 on Qualifying Purchases spent overseas*.
* We're reducing the Foreign Exchange Fee from 3% to 2.25%. This fee is only charged for: (a) a transaction in a foreign currency where the balance held in the applicable Foreign Currency Wallet is too low to cover the transaction, or (b) a transaction in an Unsupported Currency.
* All ATM withdrawals will be priced with one simple rate: AU$1.95~. This change means lower costs when traveling to the US, UK, Europe and many other countries.

The updated PDS also includes the following important changes. Please note these changes will NOT apply to your account until 1 October 2017:
* You'll earn 1 Velocity Point for every AU$3 spent, on Qualifying Purchases in Australia*.
* ATM withdrawals will cost AU$1.95 when withdrawing cash in Australia~
* The Inactivity Fee will change to $1.95 monthly for accounts that have been inactive for 12 months.
* It will still be FREE to load funds via bank transfer, but we're introducing a 0.5% load fee for BPAY, unless you have a Foreign Currency Wallet set as your Preferred Load Wallet.
* We've updated the section of Qualifying Purchases that allow you to earn Velocity Points.

 

[PLANT]

I have Global Wallet card as my Velocity card....now I don't think I have activated the Global wallet function and therefore will not get charged no activity fee?
I still get Frequent Flyer points when swiped in BP station.
Is that classed as activity?
There is no telephone number to speak to someone about above questions?

https://secure.velocityglobalwallet.com/support

 

[vmile]

I have Global Wallet card as my Velocity card....now I don't think I have activated the Global wallet function and therefore will not get charged no activity fee?
I still get Frequent Flyer points when swiped in BP station.
Is that classed as activity?

If the wallet is not activated, no fee.

BP points have nothing to do with Global Wallet.

 

[oz_mark]

If the wallet is not activated, no fee.

If the wallet has a zero balance, no fee...

 

[Rubix]

I got this email today too.

I never had a inactive fee as I use it for all my point earns that don't accept my Velocity Amex.

$3 to 1 earn rate sucks. But for no annual fee as a prepaid card there is still no other out there like this.

Happy to hear what people are using instead as a possible option.

 

[AviationNZ]

I got this email today too.

I never had a inactive fee as I use it for all my point earns that don't accept my Velocity Amex.

$3 to 1 earn rate sucks. But for no annual fee as a prepaid card there is still no other out there like this.

Happy to hear what people are using instead as a possible option.

Personally I've never even thought about using these cards domestically as the other traditional credit card options are far more beneficial.

However, international spend has always been the main focus for me. I've been in a continual dilemma looking at which is better between the QF/VA multi-currency wallets vs an Amex CC vs something like the 28 Degree CC. There are so many variables...exchange rate offered, points earn, conversion fees, etc. I often just fall back on convenience which is the Amex, but always keen to read other peoples opinions.

 

[AustraliaPoochie]

For the ability to use my own money, VGW still is an outstanding product, compared to QCC.
Don't have to worry about paying back the bank or credit card company at the end of the month is a plus.
While I have not tried it, with the VGW having a BSB and account number, who knows, there could be the ability to have direct credits of wages to go into the VGW (I assume).
For AviationNZ, main point to ask yourself, do you want to hold a card where you don't have any credit linked to it.
Easy answer, if yes, then the VGW is a good choice.
If you don't don't care for credit, and have an open pit of $ to pay back the debt at the end of the month, then the VGW is the last one to consider. Esp taking into account if you have $ sitting in the VGW. If you don't have money in it, as noted above by the others, then no activity fee, but then, you are not using the debit card side of the VGW so no worries.

 

[misspotter]

I used to use my global wallet for back in the day when I needed to make payments that would exceed my credit limits, even though I had cash in the bank. It was actually quite helpful at times! But now I've just got a few bucks left on my card leftover from previous holidays.

I wonder, if you use your global wallet to make an online purchase from an overseas website, is that eligible for 2 points per dollar too?

 

[Nathant123]

Just a question guys. If I buy something whilst located in Australia but it is charged in a foreign currency, does this count as an international purchase? I'm looking to buy 2 etihad business tickets specifically which is a one-way Johannesburg to Sydney and it is priced up in South African Rand. Would Velocity see my location as being based in Sydney so therefore I wouldn't earn the 2point/$ or is this classed as an international transaction due to the price being in different currency?

Cheers

 

[Jeffrey O'Neill]

Personally I've never even thought about using these cards domestically as the other traditional credit card options are far more beneficial.

However, international spend has always been the main focus for me. I've been in a continual dilemma looking at which is better between the QF/VA multi-currency wallets vs an Amex CC vs something like the 28 Degree CC. There are so many variables...exchange rate offered, points earn, conversion fees, etc. I often just fall back on convenience which is the Amex, but always keen to read other peoples opinions.

If you don't mind waiting for when VA do the transfer bonus the Coles Mastercard with 2 FB points per $ spend and no forex fees is a decent card at $99 annual fee. Usually can get 20K FB points to give fee free for the first year. Just had the 3 month bump to VA Gold too which was a nice bonus.

If you transfer with a 15% bonus you're getting 1 velocity point per $ spend. Seems to be a good no frills backup card to have.

If you travel a fair amount then the NAB Velocity premium card is decent value. $150 annual fee, but gives 6 months free travel insurance if you spend $500 of travel costs pre departure. I look at the card as being a $150 annual travel insurance policy. Saved me thousands over the years.

 

[a1ring23]

Has anyone who has money loaded on their VGW tell me what the current exchange rate is to Yen?

Do people find it is better value than saying just transferring funds to a Citibank Debit card without the overseas transaction fees and not picking up the points?

 

[PLANT]

Just confirming it is still better value to have Citibank debit card loaded and used after fees than load VGW and pay load, rate and withdrawal fees?
Is the VGW international currency rate locked in on time of load?
You get that international rate on withdrawal? 80 cents load, 80 cents withdrawal in US dollars?
Is there still an inactivity fee?

 

[AustraliaPoochie]

I have not done foreign currency load of VGW, so am not sure if its the forex rates are locked in load, they probably are, ever only loaded via AUD.
(OT) If the Citibank visa debit had rewards, it would be a good second or even first card to have, but no rewards, so its off my money radar.
Yep, there is still an inactivity fee.
Also, don't load via bpay, as it will zap a certain % as a fee, and also the funds will sit in your VGW account as unavailable till it clears.
Better to use funds deposit via pay anyone from your main transaction account.
I have only done funds load via pay anyone, and once via bpay. Will not be using VGW bpay loads again.
Edit:
((You get that international rate on withdrawal? 80 cents load, 80 cents withdrawal in US dollars?))
Once you have transferred a currency from the main one to the country you will be visiting, yes, 80 UScents = 80 UScents.
If you load via Aud$, you will have approximately 27 secs to agree or not to the forex rate per change from main currency, to currency of country of visit, there is no way to forsee what the forex rate will be prior.
So maybe load via the currency for the country you will be visiting from within VGW, and lock in the forex rate there and then.

 

[PLANT]

It's the $1.95au where ever you(country) withdraw money from ATM?.
If you pay a bill via debit card/Tap and pay it's also $1.95au?

 

[AustraliaPoochie]

If you tap and go in Aust, in 80% of the places I go to spend anyway, there is no fee, I have used it at Coles and a lot of the public transport recharge places (online/standalone booths), Bunnings, eg no charge/surcharge, guess the vendor/store/business bears the cost, so no $1.95 (within Aust)...
Also no surcharge in my ventures to NZ too, eg, NZ Subway eateries)/AT hop recharge/Metroinfo recharges/Metlink recharges.
But if you use the card at some newsagencies in Aust, then there is the credit card surcharge of maybe Aud$0.50, like the newsagencies at SYDdom to recharge Opal, they charge a %, but no as high as Aud$1.95.
Lots of hotels will charge 1.5% of the check out transaction though as a credit card surcharge, sliding scale.
Even using the VGW to pay Optus post paid bills on their website, its a sliding % of the bill cost, so on $40, its $0.15, so not as high as Aud$1.95.
Foreign/local ATM usage, thats where they will zap you the Aud$1.95, I have not used this, so can't say for sure.
But every tap and go in Aust, in supermarkets and 80% of the stores I visit, ((yes, I know, a very low earn rate of 0.33 points per Aud$1 spent, but still, at least its something)), I have never been charged a surcharge.
If you can be approved for a true cardit card, and can forego paying with cash, and can pay off the debt. then probably the VGW is not really a good thing, but if you have no other choice, then VGW or to a lesser extent, QCC is the main one to hold.
Sorry for the fluff.
Edit: not spruking the ING Orange card, but that is a very good one to have for ATM withdrawals overseas, if you deposit Aud$1000 a month, before the trip, you don't pay ATM/international transaction fees from next year.

 

[QF WP]

Email just received advising a total re-design

 

[AustraliaPoochie]

Yep, was surprised with the new look website.
Also, for a while, even with a VGW card I have used for a while, it kept asking for the activation part, rather than the log in part, ie, kept asking me to put in the 16 digit card number, expiry date, etc.
Now at the least, its better that I can just enter my VFF number and password.