Flybuys has improved the rate at which points are transferred to Velocity Frequent Flyer, while also halving the minimum points transfer amount.
Flybuys members can now transfer their points to Velocity in increments of 1,000 Flybuys points, reduced from the previous minimum of 2,000 Flybuys points. Those 1,000 Flybuys points are now worth 500 Velocity points, representing a 15% improvement in the transfer rate.
Previously, Flybuys members could convert 2,000 points to 870 Velocity points. However, Flybuys and Velocity did run regular promotions where members could get 15% bonus points – effectively bringing the conversion rate to what is now the everyday rate.
“Many Flybuys members have taken advantage of our long-standing partnership with Velocity to redeem their points earned on the ground for Velocity Points. Today we’re excited to announce that we’ve enriched that experience by offering a better conversion rate,” Flybuys CEO John Merakovsky said.
The improved Velocity conversion rate brings Flybuys in line with Woolworths Rewards, which increased the rate at which points convert to Qantas Frequent Flyer points in October 2019. Currently, 2,000 Woolworths Rewards points are worth 1,000 Qantas points.
“We know that our members like the convenience of having access to both loyalty programs and we’re pleased to reward them even further with a more generous transfer rate which will help boost their Velocity balance faster, providing more opportunities to redeem Points for Virgin Australia flights and a range of other Velocity rewards,” acting Velocity Chief Marketing & Loyalty Officer Dean Chadwick said.
Last month, Flybuys also introduced Velocity Auto Transfer. This new feature automatically converts Flybuys points to Velocity points every time 1,000 Flybuys points are earned.
Members who opt in to Auto Transfer can earn triple status credits on their Coles shopping until the end of January 2021, up to 30 status credits per month (instead of the usual 10 status credits per month). The triple status credits offer ends this month, but Velocity is telling Flybuys members who’ve opted in to Auto Transfer to “keep an eye out for [other] exciting Auto Transfer perks along the way”.
Join the discussion on the Australian Frequent Flyer forum: Flybuys increases transfer rate, halves minimum