If you’re a member of the Velocity and KrisFlyer frequent flyer programs, you can transfer points between them. This unique arrangement gives you the chance to pick and choose benefits from both of these frequent flyer programs and offers more flexible ways to use your points.
Use this guide to learn how you can transfer points between Velocity and KrisFlyer and understand the steps for transfers from each program. We also go through key details you should consider, to help you weigh the value of transferring points between these frequent flyer programs. In addition, we look at other benefits of the Velocity-KrisFlyer partnership, so that you can get as many travel perks as possible when you fly with Virgin Australia and Singapore Airlines.
How can I transfer points between my Velocity and KrisFlyer accounts?
If you want to exchange points between your Velocity and KrisFlyer accounts, you first need to link your frequent flyer memberships. You can do this by logging into each account and providing your details for the other program.
Note that your name and birthdate must be the same for each account. Once you’ve linked your Velocity and KrisFlyer memberships, you’ll be able to transfer points between them using the steps below.
Points transfer rate
When you transfer points between Velocity and KrisFlyer, the point exchange rate is 1.55 to 1. This means a minimum transfer of 5,000 points will give you 3,226 points with the other program (rounded to the nearest whole point).
If you've transferred points between these programs in the past, it's worth noting that the current exchange rate applied from 1 January 2019. Previously, there was a slightly more generous transfer rate of 1.35 to 1.
Transferring points from Velocity to KrisFlyer
Follow these steps to transfer your Velocity Points to your KrisFlyer account:
- Log in to your Velocity account at velocityfrequentflyer.com.au.
- Scroll down the left-hand navigation column and click on “Point transfers – Airlines”. If you haven’t linked your accounts you’ll be prompted to do so now.
- Click the “Transfer now” button. You’ll then be taken to a screen where you can choose how many points to transfer.
- Select the amount of Velocity Points you want to transfer and click “Transfer now” to complete the process.
Transferring points from KrisFlyer to Velocity
If you have KrisFlyer Miles you want to transfer to your Velocity account, follow these steps:
- Log in to your account at krisflyer.com.
- Click on the “Miles” navigation button from your account summary screen, then select “How to use”.
- Scroll down to the “Other redemption options” section and select “Virgin Australia – Velocity”. You’ll then be prompted to enter details for the transfer, including the category (“Airline partner”) and partner program (Virgin Australia – Velocity”).
- Enter your membership details and click “Proceed”, then follow the prompts to choose how many KrisFlyer Miles you want to transfer to your Velocity account.
What else do I need to know?
Keep these factors in mind when you’re transferring points between Velocity and KrisFlyer:
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Minimum transfer. You need to transfer at least 5,000 frequent flyer points between the programs.
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Non-reversible transfers. Once you’ve confirmed a points transfer between your Velocity and KrisFlyer accounts, the process cannot be reversed – even if you have entered the wrong details. So make sure you check all the information before confirming a transfer.
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Point expiry. With Velocity, your points only expire if you don’t earn or redeem them within an 18-month period. Your KrisFlyer Miles, on the other hand, expire three years after they were earned. The terms and conditions of the frequent flyer program you transfer points to will apply after the transfer.
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Fees. There is no fee to transfer points between these programs online. But if you request the point transfer via the Velocity Membership Contact Centre, you will be charged a fee of $20 or 2,500 points per transaction.
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Status credits. Only points can be transferred between Velocity and KrisFlyer. This means you’ll still need to earn status credits through flights or other eligible activity if you want to reach a higher membership level with Velocity or KrisFlyer.
Is it worth transferring points between Velocity and KrisFlyer?
The transfer rate of 1.55:1 means that you end up with fewer points each time you move them between Velocity and KrisFlyer. For example, transferring 100,000 Velocity Points would give you 64,516 KrisFlyer Miles, which means you lose 35,484 points in the process. With this in mind, it’s often more valuable to redeem points directly through the program in which you earned them.
So when does it make sense to transfer points between Velocity and KrisFlyer so that it works in your favour? Here are some of the most common scenarios where you could get more value through a transfer:
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Redeeming flights to Europe or Asia. If you want to use points to book a trip from Australia to Asia or Europe, KrisFlyer may offer you more value because Singapore Airlines covers many of these routes. Virgin Australia, on the other hand, often relies on codeshare options for these routes and that usually means you need more Velocity Points for a reward flight.
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Making up a point shortfall. Transferring points is a way to make up the difference when you don’t have quite enough points for your chosen reward, especially if you don’t want to spend cash buying points or through a points-plus-pay option.
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Avoiding point expiry. If you have KrisFlyer or Velocity Points that are about to expire, you could avoid losing them by doing a point transfer between your frequent flyer accounts.
Example: Redeeming frequent flyer points for a flight to London
To see when transferring Velocity Points to a KrisFlyer account could work in your favour, let’s say you want to book a one-way, Premium Economy flight from Sydney to London with Singapore Airlines. Here’s how much it would cost through each program, based on point details we found on each website in January 2019:
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KrisFlyer: 87,500 KrisFlyer Miles plus fees and taxes
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Velocity: 112,500 Velocity Points plus fees and taxes
That's a difference of 25,000 points, in favour of KrisFlyer. But if you had no KrisFlyer Miles and the required Velocity Points, transferring them would only give you 72,581 miles. So in this scenario, you'd be better off trying to redeem your flight through Velocity instead. If, on the other hand, you had most of the KrisFlyer Miles required and some Velocity Points you wanted to use, transferring them could be a useful option. Just make sure you check that a reward flight is actually available before going ahead with a transfer.
How can I get the most out of my frequent flyer points?
Transferring points between Velocity and KrisFlyer usually only offers you more value when it’s for a specific reward flight option. So here are some alternatives you can also consider to help you get the most out of the points you earn through these frequent flyer programs:
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Redeem flights through your main frequent flyer account. Often, this will offer you more value for your points simply because you’re not losing value through the point exchange rate. If you really want to squeeze as much value out of each point or mile, compare the redemption rates for each program so you can decide if transferring points is worth it.
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Buy frequent flyer points. If you’re short of the points you need for a reward, you can buy more Velocity Points or KrisFlyer Miles to make up the difference. With Velocity, you can buy a minimum of 500 points and a maximum of 50,000 points for $1,172 as long as the purchased points make up no more than 50% of the points you already have in your account. With KrisFlyer, purchased points can make up 50% of the reward and each 1,000 miles costs US$40.
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Pool points with a family member. Velocity gives you the option of “Family Pooling” so you can share points with your partner or other family members that live at the same residential address. This can be a great way to get points or status credits faster.
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Points-plus-pay. Both Velocity and KrisFlyer give you the option of using points and cash to pay for flights, which could be useful if you’re short of the required points with either program.
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Buy your flights to earn more points. If your goal is to save up points and use them on future flights, remember that it may be more cost-effective to simply buy your next flight with cash instead of transferring points or redeeming through a points-plus-pay option.
The option to transfer points between Velocity and KrisFlyer sets these two frequent flyer programs apart from most other airline loyalty schemes. But because it only really offers value in specific situations, make sure you weigh up the benefits before you transfer points so that you can get as much value as possible from your frequent flyer rewards.
Pictures: Shutterstock
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Amy is an editor and writer at finder.com.au with more than 10 years experience covering credit cards, personal finance and various lifestyle topics. When she’s not sharing her knowledge on money matters, Amy spends her time as an actress.
