Introducing our new changes

Global Wallet® is changing the number of Velocity Frequent Flyer Points you can earn at home and overseas. We have also updated the fee structure of Global Wallet®. See the table below for a summary of when these changes come into effect. Please click here to read our new Product Disclosure Statement (PDS) for more information

 

Product proposition / Fee Existing New Effective date (activated
prior to 01/09/2017)
Effective date (activated
after   01/09/2017)
International earn rate 1 Point for AU$1 2 Points for AU$1 1 September 2017 1 September 2017
Domestic earn rate 1 Point for AU$2  1 Point for AU$3 1 October 2017 1 September 2017
Aggregate funding limit
(12 month rolling load limit)
AU$75,000  AU$100,000  1 September 2017 1 September 2017
Foreign exchange fee⁵ 3%  2.25%  1 September 2017 1 September 2017
Inactivity fee (only charged after 12
months of inactivity)
AU$1 per month AU$1.95 per month 1 October 2017  1 September 2017
Domestic ATM fees¹ Free AU$1.95 1 October 2017  1 September 2017
International ATM fees¹ Varies depending on country AU$1.95 1 September 2017 1 September 2017
Load fees – Bank transfer Free Free 1 September 2017 1 September 2017
Load fees – BPAY Free

0.5% load fee for BPAY to AUD wallet.

No load fee for BPAY to foreign currency wallet set as your preferred load wallet

1 October 2017  1 September 2017
Purchases excluded from Velocity
Points earn
ATM withdrawals, quasi cash transactions, fees and charges, account adjustments, reversed transactions and gambling transactions ATM withdrawals, quasi cash transactions, payments made to the Australian Taxation Office or other national or local Australian tax authorities, fees and charges, account adjustments, reversed transactions, gambling transactions and business transactions.  1 October 2017  1 September 2017