Velocity Global Wallet™ Review

Rates and Fees verified correct on May 26th, 2016

Earn 1 velocity point for every dollar spent in 11 different international currencies with the Velocity Global Wallet

The Velocity Global Wallet is one account, two cards and 11 different currencies. One side of the card is a prepaid Visa travel card, the other side of the card is your Velocity Frequent Flyer membership, so you’ll get points whenever you shop with the Global Wallet. The account supports up to 11 different currencies, but you can only hold up to 5 currencies at the one time including Australian dollars.

Unlike other prepaid travel cards, Velocity do not automatically issue a spare card when you open a Global Wallet account. Instead, a supplementary Visa travel card is available for $10. If you’re comparing prepaid travel cards by available currencies, the Global Wallet is only one of two accounts which lets you load South African rand.

Available CurrenciesAUD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, USD, ZAR
Multiple Currencies on One CardYes
Number of Cards Issued1
Minimum Load Amount$1
Maximum Load Amount$25,000
Maximum Annual Load Amount$25,000
24 Hour ATM Cash Withdrawal Limit$2,500
Card Issue Fee$0
Initial Load Fee$0
ATM Withdrawal FeeAUD 0.00, CAD 2.00, EUR 1.50, GBP 1.25, HKD 15.00, JPY 160, NZD 2.50, SGD 2.50, THB 60, USD 1.95, ZAR 20, Other than above: AUD 2.95
Reload Fee$0
Monthly Inactivity Fee
after 12 months inactivity
Balance Enquiries$0
Card Replacement Fee$15
Currency Conversion Fee3%
BPay Reload fee$1
Negative Balance Fee$0
Available To Temporary ResidentsNo

Reloading funds & currencies

The Velocity Global Wallet lets you load any 4 of these 11 international currencies at a time. Australian dollars are credited to the account when you load and reload the Global Wallet and must be held on the card at all times:

  • Australian dollars
  • Canadian dollars
  • Euros
  • Hong Kong dollars
  • Japanese yen
  • New Zealand dollars
  • British pounds
  • Singaporean dollars
  • South African rand
  • Thai baht
  • US dollars

Ways to load funds on your Velocity Global Wallet

  • BPAY. You can load funds on your Velocity Global Wallet via BPAY, but it’ll take three business days for the funds to appear in your account.
  • Online transfer. You can also load funds with an online transfer, but this will take one business day to clear.

Use the Velocity Global Wallet App to exchange money from Australian dollars to up to 4 international currencies listed above at one time. The exchange rate is locked in when you transfer money between different currencies so you know how much you have to spend without the needing to check the latest rate.

If you have the local currency loaded on your card, that’ll be the currency that’s used when you’re spending in that particular currency. If you don’t have the local currency loaded on your card, your card will use the drawdown sequence and use funds from your next available balance. If you use a different currency, then you’ll be charged a currency conversion fee. By default the drawdown sequence is set by the order you first credited the account with different currencies, you can change the drawdown sequence by contacting the Global Wallet customer assistance line.

Where can you use the Global Wallet

The Velocity Global Wallet is a prepaid Visa card. The Global Wallet can be used anywhere in the world where Visa is accepted including ATMs showing the Visa or PLUS logo. Make sure you spend in the currency of your destination or you’ll pay an additional 3%, which is low compared to some other travel cards but still defeats the purpose of using a travel card overseas over most debit cards and credit cards. Visit the Account Centre to request a Virtual Global Wallet, which you can use to shop online.

How much will the Velocity Global Wallet cost?

Fee type Cost
Issue fee$0
ATM withdrawalsAUD 0, CAD 2.00, 1.50 EUR, 1.25 GBP, 15.00 HKD, 160 JPY, 2.50 NZD, 2.50 SGD, 60 THB, 1.95 USD, 20 ZAR, AUD 1.95 for other currencies
Reload feeFree
Currency conversion fee3% of the Australian equivalent
Exchange rateWhen you load funds on your card, they’ll be lock in at the current exchange rate. You’ll be able to confirm this via the Velocity Global Wallet website.
Inactivity fee$1 (charged monthly after 12 months of inactivity)
Supplementary card$10.00
Emergency Cash Transfer Fee$15.00
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Manage your account

You can manage your Velocity Global Wallet easily via the Global Wallet Account Centre app. This is available from iTunes for Apple phones or from Google Play for those with Android-based phones:

  • Log in, check your balance, transaction history and add new currencies. You can use your Velocity Global Wallet app or online account to view your transaction history, report a lost or stolen card and access your virtual card to use online.
  • Moving currencies. You can move your Australian dollars across to different currencies through your Velocity Global Wallet app. Remember that there may 11 available currencies, but you can only hold up to five of these currencies on your card at one time.
  • Leftover cash. If you have funds left on your card when you return from holidays, you can either transfer it back to Australian dollars and withdraw it from a local ATM or you can transfer it to your nominated account. Note that a monthly inactivity fee of $1 is charged after 12 months without transaction history, so make sure to close your account if you’re not going to use it again.

Global Wallet Security

Velocity ask that you notify them right away if you find unauthorised transactions or you think someone else has your Global Wallet or virtual card. Outside Australia call +61 2 8667 5924. If you’re overseas and you don’t have your Global Wallet, Velocity offer an emergency cash service for $15. They can make the money in your Global Wallet available for cash collection (up to $3,000) at convenient locations all over the world.

Getting your card

  • Ordering. You must be a Velocity frequent flyer member to get a Global Wallet. The program is open to anyone living in Australia over the age of 18 and is free to join. If you are a Velocity member, logon to your Velocity online account and request a Global Wallet from the ‘My Benefits’ section of the website.
  • Activating. When you receive your card, go to the Velocity Global Wallet website and follow the steps to activate the prepaid Visa card.
  • Loading. Once you’ve activated your card, you can load funds in your account through BPAY or online transfer.

Benefits and drawbacks


  • Multiple currencies. The Global Wallet is only one of two accounts which let you spend in ZAR.
  • Rewards points. Get 1 Velocity Point for every dollar you spend in a foreign currency and 1 Velocity Point for every 2 dollars you spend in Australia.
  • Cheap. It’s free.


  • Conversion fees. Pay international ATM fees and a currency conversion fee.
  • Exchange rate. The Velocity Global Wallet prepaid Visa exchange rate gives you less than the Visa debit or credit card exchange rate.
  • No additional card. Unlike other travel cards, Velocity don’t give you a spare Global Wallet card.

The Global Wallet is a great way to rack up Velocity Points when you’re on holiday, just make sure the Global Wallet supports the currency of your destination so you don’t pay the extra currency conversion fee. There are more travel cards to compare on our travel money page.

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Questions about the Velocity Global Wallet

Can I load different currencies each time?

You can manage your currency selection from the Velocity Global Wallet Account Centre. You can only hold 5 different currencies at a time and you must always have your Australian dollars currency wallet active.

Can I load money on the Global Wallet at Australia Post?

You can load your Global Wallet with money using a direct bank transfer or BPAY payment.

Do I need to tell Velocity about my travel plans?

The Global Wallet is a travel card made to be used overseas. You do not need to tell Velocity about your travel plans before you leave Australia.

How much does it cost to withdraw from ATMs in Australia?

If you use the Global Wallet in Australia you will have to pay the Velocity AUD ATM withdrawal fee plus any charge from the ATM operating bank or institution.

How do I set my Global Wallet PIN?

You can set your PIN for your card online by logging on to the Velocity Global Wallet Account Centre.

What’s the maximum load?

You can load up to $25,000 a time on the card as long as it doesn’t take you over the $25,000 maximum balance limit. The minimum load is 1.

What’s the ATM withdrawal limit?

You can withdraw up to $2,500 for an ATM in a 24 hour period.

How many extra cards can I get?

You can only order 1 extra supplementary card.

The Velocity Global Wallet lets you spend in the currencies of Australia's favourite holiday spots as well as earn Velocity Points. We review the Velocity Global Wallet prepaid Visa travel card.

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This page was last modified on 24 May 2016 at 9:20.

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420 Responses to Velocity Global Wallet™ Review

  1. Default Gravatar
    Audrey | May 2, 2016

    what is today’s exchange rate for Australian dollars to Euroes? Thanks

    • Staff
      Sally | May 3, 2016

      Hi Audrey,

      Thanks for your question.

      You can view the daily exchange rates on the Velocity Global Wallet website.



  2. Default Gravatar
    Lenny | April 30, 2016

    So i can withdraw from an australian atm? Where do i find my pin number? Do i need a pin number how does this work

    • Staff
      Sally | May 2, 2016

      Hi Lenny,

      Thanks for your question.

      Yes, you’ll be provided with a PIN number when you apply and are approved for the card. You can change your PIN through your online Global Wallet portal.

      Yes, you can use the card to make withdrawals in Australia and anywhere Visa is accepted overseas. ATM withdrawals in Australia are free but there are charges for international withdrawals. The charges depend on the currency you’re withdrawing in.



  3. Default Gravatar
    Jill | April 25, 2016

    Do I need to notify Virgin Velocity of my travel plans? Just want to make sure my card is not cancelled whilst I am overseas.

    • Staff
      Sally | April 26, 2016

      Hi Jill,

      Thanks for your question.

      As the card is designed for overseas use, you don’t usually need to inform Virgin of your travel plans. However, if you’d rather be safe than sorry, you can always give them a quick ring to let them know where you’re travelling and over which dates.

      I hope this has helped.



  4. Default Gravatar
    Terry | March 29, 2016

    Could you tell me if there is any banks in Australia that don’t charge for using their Atm using your Velocity card?

    • Staff
      Sally | March 30, 2016

      Hi Terry,

      Thanks for your question.

      Unfortunately, there aren’t any ATMs where you can withdraw funds from your Velocity Global Wallet without incurring fees.

      If you don’t want to rack up ATM fees while you’re travelling, consider a travel card from a bank or one that belongs to the Global ATM Alliance, which allows you to withdraw from a few ATM providers around the world without incurring a cost.

      You can compare your other travel money options here.

      I hope this has helped.



  5. Default Gravatar
    Alan | March 29, 2016

    I’m travelling to Cuba and have seen comments that prepaid Visa Cards won’t work when issued by some companies. Westpac was mentioned as one of the problems. Will the Velocity Global Wallet work in Cuba?

    • Staff
      Sally | March 29, 2016

      Hi Alan,

      Thanks for your question.

      You should be able to use your Velocity Global Wallet in Cuba, but please note that Cuban peso isn’t supported on the card. This means that you’ll be charged a currency conversion fee each time you use the card in Cuba.

      For other options and travel money tips, please see our Travel Money guide for Cuba.

      I hope this has helped.



  6. Default Gravatar
    MR | March 18, 2016

    Can I use my global wallet to make purchases from e-businesses abroad, that accept visa payment.I’ve tried once and the payment failed. The e-business was in the eu.

    • Staff
      Sally | March 21, 2016

      Hi Glen,

      Thanks for your question.

      Yes, you can use your Velocity Global Wallet for international online shopping.

      However, there might be certain terms and conditions depending on the site you’re using. Before trying to make a purchase, check with the store’s accepted forms of payment to determine whether it accepts prepaid cards.

      I hope this has helped.



  7. Default Gravatar
    Sarah | March 15, 2016


    Can I load money to the card in Australia at a post office using billpay (I think its called)? And if so, is there a similar way to do that if I travel overseas (Canada, Europe, London, Hong Kong etc)?

    I try not to use phone banking and/or online banking as much as I can because I like having physical receipts.

    • Staff
      Sally | March 17, 2016

      Hi Sarah,

      Thanks for your question.

      Unfortunately, you can only load funds on your Velocity Global Wallet via an online or telephone bank transfer or via BPAY.

      If you want to load funds in-store, you might need to look at some of the prepaid travel cards offered through banks or organisations such as Australia Post or STA Travel.

      Unfortunately, most of these cards will require you to load funds on your card via online or phone transfer if you’re overseas at the time.

      You can compare some of your other travel money options here.

      I hope this has helped.



  8. Default Gravatar
    ivor | March 12, 2016

    I am going to Vietnam so is the Global Wallet a benefit and if so what currency would I convert my Aus$ to before going?

    • Staff
      Sally | March 14, 2016

      Hi Ivor,

      Thanks for your question.

      The Velocity Global Wallet doesn’t support Vietnamese Dong, so you’ll be charged a currency conversion fee of 3% every time you use your card for a purchase in Vietnam.

      Unfortunately, not many Australian travel money cards let you carry Vietnamese Dong. Currently, the Commonwealth Bank Travel Money Card is the only card that allows you to hold this currency.

      Regardless of whichever travel card you choose, you can load the Australian dollars on your card before leaving and should transfer them across to your preferred currency before beginning your holiday.

      I hope this has helped.



  9. Default Gravatar
    Annette | March 8, 2016

    Can you please advise today’s USD rate


    • Staff
      Sally | March 8, 2016

      Hi Annette,

      Thanks for your question.

      If you have the Velocity Global Wallet, you can check the exchange rate by logging into your Global Wallet Account Centre.

      To view up-to-date exchange rates, log in and select “Manage Wallets”.

      I hope this has helped.



  10. Default Gravatar
    Norman | February 2, 2016

    Please provide the BPay biller code for me to load funds onto my Velocity Visa card.

    • Staff
      Sally | February 3, 2016

      Hi Norman,

      Thanks for your question.

      The BPAY biller code is 214932 and you’ll also have to enter your unique BPAY reference number and the amount you wish to load via BPAY.

      I hope this has helped.



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