Virgin Velocity Frequent Flyer Travel Money Comparison

Rates and Fees verified correct on December 8th, 2016

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Virgin travel money solutions: compare prepaid Global Wallet, insurance and a rewards program with an international reach

Virgin has you covered in the air and when you land. The Velocity Global Wallet is a prepaid travel card you can use to spend in specific countries without paying extra for currency conversion and rewards you with Velocity Points when you make purchases in Australia and abroad. Virgin Money provides insurance for your holiday and the financial brand of the Virgin Group offers basic and comprehensive domestic and international cover. If you want to get traveller’s cheques or foreign cash through Virgin you’re out of luck. You can find an overview of Virgin Velocity travel money options below.

Company history

Virgin launched back in 2000 as Virgin Blue, with just two aircraft and one route between Sydney and Brisbane. Their service quickly expanded in the following year with the addition of 12 new routes. June 2001 also marked another milestone for the company, as they welcomed their one millionth passenger on board. In the thirteen years since the company entered the Australian market, they have continued to grow the number of services they offer to the Australian public. Strategic partnerships with major international airlines has also seen Virgin Australia expand into a number of regions like the pacific.

Velocity Global Wallet Card

Rates last updated December 8th, 2016
Available Currencies ATM Withdrawal Fee Reload Fee Initial Load Fee
Velocity Global Wallet Card
Velocity Global Wallet Card
AUD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, USD, ZAR AUD 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 $0 $0 More

 Travel cards

If you’re a Velocity frequent flyer member, you can get a free Velocity Global Wallet prepaid travel card. The card works as a prepaid Visa and as your Velocity frequent flyer membership card. Use this card to make over the counter purchases and ATM withdrawals at millions of places all over the world. It works at home too, there’s no fee for domestic ATM withdrawals. In addition to Visa acceptance, you also get Visa’s money back guarantee if you’re the victim of card fraud.

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 in Australia and overseas. Get 1 Velocity Point for every dollar you spend overseas and 0.5 Velocity Points for every dollar spend in Australia. No points are awarded when you withdraw cash.
  • The Global Wallet is light on 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).

Read the full review and benefits of the Velocity Global Wallet

Supported currencies

This travel card supports 10 different currencies including Australian dollars, five of which you can hold on the card at one time. Load Australian dollars on the Global Wallet and lock in the rate when you convert the funds to a foreign currency using the convenient Global Wallet mobile application. You can preload the following popular currencies: AUD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, USD, ZAR.

Currency ATM withdrawal feeATM balance enquiry fee
Australian dollarsFreeFree
United States dollars1.95Free
British pounds sterling1.25Free
Euros1.50Free
New Zealand dollars2.50Free
Canadian dollars2.00Free
Hong Kong dollars15.00Free
Singapore dollars2.50Free
Japanese yen160Free
Thai baht60Free
South African rand20Free

Traveller's cheques

Velocity do not provide traveller’s cheques, you can find out more about ordering traveller’s cheques here.

 Currency exchange

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.

Travel insurance

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

Virgin Australia’s frequent flyer program, Velocity rewards you with points when you shop using Velocity credit cards, the Global Wallet, 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 Velocity, 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.

How to join the Velocity frequent flyer program

Where can I use my Velocity Global Wallet?

You can use your Global Wallet wherever Visa is accepted. This includes both ATMs and over the counter transactions in Australia and overseas.

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.

How many supplementary cards can I have?

You are able to have one supplementary card.

What do I need to do if my Global Wallet is not working at an ATM?

First make sure that you press 'credit' and not savings. Is this still doesn't work, double check that you're using the correct PIN.

How do I check my account balance?

To check your account balance, you can request a balance enquiry at an ATM (fees apply), or you can log into the Global Wallet Online Service Centre, or log into the smartphone app.

I didn't get a Global Wallet enabled card with the Velocity membership.

To receive a Global Wallet enabled Velocity membership you need to opt-in when you apply for a Velocity membership. You will need to reside in Australia and be over the age of 18.

What's the difference between a pending transaction and a posted transaction?

A pending transaction has been approved for payment. A posted transaction is a transaction where the merchant has sent for the funds to be approved.
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This page was last modified on 16 November 2016 at 18:48.

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41 Responses to Virgin Velocity Frequent Flyer Travel Money Comparison

  1. Default Gravatar
    giuls | July 14, 2016

    Hi
    My husband has a platinum velocity frequent flyer card and I have a normal red Vel/F F card.
    Are we able to link the points accumulated between the 2 cards?
    And can a flight be booked for me using my husbands platinum card?

    Thanks
    Giuls

    • Staff
      May | July 14, 2016

      Hi Giuls,

      Thanks for your question.

      Yes, you can transfer points from your Velocity frequent flyer account to the account of an eligible family member, up to four times per Membership Year. Each transfer must be for between 5,000 and 100,000 points. Also, your husband can book a flight for you using his Platinum account. Please contact the Membership Contact Centre for booking the flight.

      For your convenience, I’ve sent to your email the Velocity Membership Contact Centre.

      Hope this is helpful.

      Cheers,
      May

  2. Default Gravatar
    Jack | September 7, 2015

    Where do I find the currency load rates that apply today if I put Euros and UK pounds on the card today?
    Thanks
    Jack

    • Staff
      Sally | September 8, 2015

      Hi Jack,

      Thank you for your question.

      The exchange rates applied to the Velocity Travel Money card are determined by Cuscal. When you load funds onto the card, you will be given a quote of the exchange rate before confirming the transaction.

      I hope this has helped.

      Thanks,

      Sally

  3. Default Gravatar
    Paul | June 16, 2015

    Hi,

    How do I cancel my card and what happens to funds in account that are left?

    • Staff
      Sally | June 16, 2015

      Hi Paul,

      Thanks for your question.

      If you’re referring to the Velocity Global Wallet travel money card, you can contact Velocity Global Wallet directly to cancel your card or you can fill out the ‘Account Closure Form’ available on the website.

      On the form, you have the opportunity to nominate which account you’d like any remaining balances transferred to. Keep in mind though that Cuscal Ltd charge a maximum AUD$15 Funds Redemption fee to transfer any Available Balances back into your account.

      I hope this has answered your question.

      Thanks,

      Sally

  4. Default Gravatar
    Geoffrey | April 16, 2015

    What are the ATM withdrawal fees for the 10 overseas countries with Velocity please

    • Staff
      Elizabeth | April 17, 2015

      Hi Geoffrey,

      Thanks for your question.

      You can see the fees listed on this page.

      I hope this will help.

      Thanks,

      Elizabeth

  5. Default Gravatar
    Jordan | October 13, 2014

    Hi,

    I’m heading overseas in a couple of weeks to Europe. Quite a number of countries I intend to visit (Poland, Czech Republic, Hungary, Slovenia and Switzerland) do not use the Euro. Will this be a problem if I use the Velocity travel card?

    • Staff
      Shirley | October 13, 2014

      Hi Jordan,

      Thanks for your question.

      Please note that a foreign exchange fee could apply. This is payable whenever the card is used for a transaction in a currency other than AUD or a currency that isn’t pre-loaded or available on the Global Wallet.

      Cheers,
      Shirley

  6. Default Gravatar
    Janice | October 11, 2014

    Hi, I live in Portugal and I am traveling to Australia Via Dubai on 3rd November for three weeks. I would like to place 1000 euros on a travel card how can I apply for a travel card.

    regards

    Janice

    • Staff
      Shirley | October 13, 2014

      Hi Janice,

      Thanks for your question.

      To apply for the Velocity Global Wallet, you’ll need to become a Velocity frequent flyer member. You can sign up for free through their official website.

      Once you’ve received the card in the mail, you can activate it by registering through the official Velocity website.

      Cheers,
      Shirley

  7. Default Gravatar
    sandra | September 2, 2014

    how do I get one

    • Staff
      Shirley | September 3, 2014

      Hi Sandra,

      Thanks for your question.

      You need to join Velocity Frequent Flyer to receive your card. After you’ve received your card you can activate the Global Wallet online.

      Cheers,
      Shirley

  8. Default Gravatar
    Frank | July 28, 2014

    Hi I am already a member
    Last time I travelled I was getting massages on my phone advising of the purchases that I have done and the balance.
    I am on an overseas trip right now and have been using my velocity global wallet but I am not receiving any massages on my phone I would like to check my balance and I cannot too I need to check my balance please?
    Please advise my mobile
    Frank

    • Staff
      Shirley | July 28, 2014

      Hi Frank,

      Thanks for your question.

      Unfortunately you’ve come through to finder.com.au, an online comparison service.

      Please speak to a customer service rep from Virgin about this.

      Cheers,
      Shirley

  9. Default Gravatar
    Andrew | July 27, 2014

    Is it possible to load NZD$ from an existing BNZ (Bank of New Zealand) bank account directly into an existing Virgin Velocity Global Wallet card using Poli? If so, how is this done (BNZ does not appear on the Poli “add money” drop down menu), and is it possible to load directly into a NZD$ currency wallet, or does it have to go through AUD$ and then be reconverted into NZD$, with two separate currency conversion fees? (I spend time living in both NZ and Australia, and carry both an Australian & New Zealand passport)

    • Staff
      Shirley | July 28, 2014

      Hi Andrew,

      Thanks for your question.

      Unfortunately using Poli is only available for major Australian banks and credit unions. Alternatively, there is the option of using BPAY.

      Funds that are loaded also need to be in AUD, if you convert them into NZD a fee doesn’t apply but they will be subject to exchange rates instead.

      Since you regularly travel back and forth from Australia and New Zealand, you might want to read about multi currency accounts.

      Cheers,
      Shirley

  10. Default Gravatar
    Catherine | July 7, 2014

    I am travelling to South America, and spending time in Argentina, Brazil and Peru. If I load my card with US $ can I still use it in these countries at ATM’s and for purchases? Will fees be charged for converting the money to the local currency?
    Thank you

    • Staff
      Shirley | July 7, 2014

      Hi Catherine,

      Thanks for your question.

      Yes you can still use the card in the ATMs and for purchases. The currency conversion fee will depend on what currency you’re making your withdrawals/purchases in.

      For example, if you’re making a purchase in Pesos then the fee will be charged as you can’t preload that currency.

      Cheers,
      Shirley

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