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If you regularly fly with Virgin Australia, you may be interested in transferring your Flybuys points to Velocity Frequent Flyer Points. Here’s how to do it.
Through the Flybuys program, you can earn points when shopping for groceries at Coles, filling up at a Shell Coles Express or shopping at other participating stores like Bunnings, Kmart and Target. You can then redeem your points for rewards. One option is transferring them to Velocity Points.
How do I transfer Flybuys points to Velocity?
You’ll firstly need to link your Velocity Frequent Flyer account to your Flybuys account. You can do this by signing into your Flybuys account and following the prompts to provide your Velocity account details.
Once you’ve linked your accounts, you can transfer Flybuys points in increments of 1,000. For every 1,000 Flybuys points, you can receive 500 Velocity Points. So it is a 2:1 conversion rate.
You can do this manually through your Flybuys account. You’ll need to log into your account, go to the Rewards section and choose the number of points you want to convert. You can also set up an auto transfer, so your Flybuys points automatically transfer into Velocity Points each time you earn 1,000 points.
You should allow up to 48 hours for the Velocity Points to be credited to your account and for your Flybuys points balance to be updated, Flybuys says.
Is it worth transferring Flybuys points to Velocity?
It depends. There are a few different ways you can redeem your Flybuys points. In addition to transferring them to Velocity Points, you can also redeem them for $10 off your shop at Coles and other partner stores (called Flybuys dollars). You can also redeem them for products at the Rewards Store.
Let’s consider the $10 off your shop redemption example. Every 2,000 Flybuys points gets you $10 off your shop at partner stores, meaning points are effectively worth 0.50 cents each when redeemed in this way.
Point Hacks has valued Velocity Points at around 1.8 cents each. Given there is a 2:1 conversion rate for transferring Flybuys points to Velocity Points, that means Flybuys points are worth about 0.9 cents when redeemed in this way. It’s then a matter of ensuring you get good value when redeeming your Velocity Points.
It’s also worth noting that Flybuys sometimes runs promotions where you can get bonus Flybuys and Velocity points. For instance, this offer may apply when you make your first transfer or turn on the auto transfer option. Flybuys usually emails these offers or it may be displayed in your Flybuys app.
Point Hacks recommends waiting until there is an offer on or you have a flight redemption in mind before transferring your points.
Can I transfer Flybuys points to another card?
No, Flybuys says you cannot transfer or give your points to another person. However, if you are transferring to Velocity Points, you can transfer Velocity Points from your account to the account of an eligible family member. Velocity says you can transfer up to four times per membership year and each transfer must be between 5,000 and 125,000 points.
Can I transfer money from Flybuys?
Instead of transferring Flybuys points to Velocity, another option is converting them into Flybuys dollars. As we previously mentioned, you can convert 2,000 Flybuys points into $10 Flybuys dollars.
You can do this through your Flybuys account. You’ll need to sign into your account, go to the Rewards section and choose the number of points you want to convert into Flybuys dollars. You can convert your points to Flybuys dollars in increments of $10.
You then set up a PIN. When you are ready to redeem the Flybuys dollars, you need to swipe your Flybuys card through the EFTPOS machine and enter the PIN.
Can I earn Velocity Status Credits with Flybuys?
You can also earn Status Credits with Flybuys when you shop at Coles, Coles Online, Liquorland or First Choice Liquor Market. You can earn one Status Credit for every $100 spent (up to 10 per month).
Status Credits help you reach or maintain a higher level of Velocity membership. This can give you access to more benefits, such as entry to airport lounges and priority check-in
→ Related: Credit cards with airport lounge access
Cover image: Arseniy Shemyakin Photo/Shutterstock.com
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