Going overseas? Find out how the Velocity Global Wallet works and compare other travel money and insurance options that could help you get more Velocity Frequent Flyer points.
The Velocity Global Wallet® is a prepaid travel card that allows you to load and use funds in up to 11 currencies. This gives you a way to spend in specific countries without paying extra for currency conversion. This prepaid Visa debit card also rewards you with Velocity Points when you make purchases in Australia and abroad.
Plus, if you're looking for peace of mind when you travel, Virgin Money also offers travel insurance cover that can protect you and your family on your next holiday. Use this guide to compare everything from prepaid travel cards to frequent flyer programs with Velocity's travel money solutions.
Velocity Global Wallet® Card
If you’re a Velocity Frequent Flyer member, you can get a free Velocity Global Wallet® prepaid travel card that also doubles as your Velocity frequent flyer membership card. You can use the Velocity Global Wallet to make purchases and ATM withdrawals at millions of places all over the world, both in-person and online. In addition to Visa acceptance, you also get a money back guarantee if you’re the victim of card fraud thanks to Visa's Zero Liability Policy.
Benefits of the Velocity Global Wallet®
- Earn velocity Points when you spend. The Velocity Global Wallet® rewards you with Velocity Points when you make purchases, so you can earn 1 point per $1 spent overseas and 1 point per $2 spent in Australia. No points are awarded when you withdraw cash.
- Low fees. The Global Wallet® is cheap to use compared to other travel cards, as it’s free to open and to reload. A currency conversion fee applies when you spend in a currency which is not loaded on the product, this fee is comparable to what’s charged on most other debit and credit cards and is much lower than the conversion fee on some other prepaid travel cards. There’s also an ATM withdrawal fee (depending on the currency you’re withdrawing), an inactivity fee if you don’t use the product for a month and a fee if you want a second card (unlike other travel cards no second card is issued automatically when you open the account).
- Online and mobile account management. You can check your balance, view previous transactions and transfer money between currencies via the Velocity Global Wallet online account centre or mobile phone app.
- Flexible reload options. Reload the card using BPAY or by transferring money directly from your Australian Bank account. You can also choose what currency you want to load funds in via the Global Wallet online account or app. While the default is Australian dollars, you can choose any of the other 10 international currencies, and the transferred funds will automatically be converted at the daily exchange rate.
This travel card supports 11 different currencies including Australian dollars. You can preload the following popular currencies: AUD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, USD, ZAR.
|Currency||ATM withdrawal fee||ATM balance enquiry fee|
|United States dollars||1.95||Free|
|British pounds sterling||1.25||Free|
|New Zealand dollars||2.50||Free|
|Hong Kong dollars||15.00||Free|
|South African rand||20||Free|
Velocity does not provide traveller’s cheques, you can find out more about ordering traveller’s cheques here.
Velocity does not provide a foreign cash service. If you want to collect foreign cash before you leave Australia, compare banking and foreign exchange institutions on our travel money page.
Virgin Money has international and domestic travel insurance policies with different levels of cover and pricing. Comprehensive international travel insurance gives you unlimited cover for things like overseas medical and hospital expenses as well as covering the theft of cash, documents and personal belongings. The essentials policy doesn’t cover for theft of cash or pay a benefit in the event of accidental death. The basic international policy gives you cover for medical and hospital expenses and personal liability only. There’s annual multi-trip cover too. Find out more about each of these policies by reading a detailed review of these insurance products on our Virgin travel insurance comparison page.
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Velocity frequent flyer program
Velocity rewards you with points when you shop using Velocity credit cards, the Global Wallet®, and when you fly with Virgin or any of Virgin’s international partners airlines. There’s potential to earn serious points when you use a Velocity branded credit card to get double and bonus points when you purchase services from Velocity partners. The Velocity program is also free to join.
- Tip: Your points do not expire as long as your account remains active — you continue to earn or spend points.
Velocity Global Wallet® frequently asked questions
What exchange rate will I get using the Global Wallet®?
You can view the exchange rate you will get when you exchange funds between currencies by logging in to the Global Wallet® mobile application and looking for the menu which lets you ‘manage wallets’.
Institutions such as Virgin, Commbank, ANZ and more apply a margin to the travel card exchange rate. A Visa debit card gets a better rate than a Visa prepaid travel card. Velocity update the foreign exchange rates multiple times throughout the day.
How do I apply for a Velocity Global Wallet®?
You need to be a Velocity Frequent Flyer member before you can request a card. You must be over the age of 18 and an Australian resident to join the frequent flyer program, you’ll get a card automatically sent to you when you enrol. If you’re already a Velocity member, you can request a card by logging into your account and looking for the benefits menu. The Velocity Global Wallet® is free to open.
Where can I use my Velocity Global Wallet®?
What’s an eligible purchase?
According to the product disclosure statement, an eligible purchase is everything except: 'cash withdrawals, gambling transactions, quasi cash transactions (such as money orders, purchasing traveller’s cheques and foreign cash), debits for fees and charges, transfers between Wallets or adjustment transactions.'
How do I set a PIN for my Velocity Global Wallet® Card?
This can be done through the Global Wallet® website. You will need to activate your card first, but once you have done this you will be prompted to set a PIN for your card. You also do this by contacting Velocity over the phone.