Velocity Global Wallet Card Review

Earn Velocity Points as you spend in 11 foreign currencies wherever Visa is accepted.

The Velocity Global Wallet Card is a Visa prepaid travel card that allows you to load and spend multiple currencies with locked-in currency exchange rates. The Global Wallet also doubles as a Velocity Frequent Flyer membership card, allowing you to earn Velocity Points as you spend. In addition, you can save with locked-in exchange rates, free loads and reloads, and no foreign currency conversion fees when you spend in supported currencies.

Available CurrenciesAUD, USD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, ZAR
Multiple Currencies on One Card?Yes
Number of Cards Issued1
Minimum Load Amount$1
Maximum Load Amount$25,000
Maximum Load Amount (Annual)$100,000
24 Hour ATM Cash Withdrawal Limit$2,500
24 Hour Purchase (POS) Transaction Limit$2,500
Card Issue Fee$0
Initial Load Fee$0
ATM Withdrawal FeeAU$1.95
Reload Fee$0
Inactivity Fee (Monthly)$1.95
Card Replacement Fee$0
Currency Conversion Fee2.25%
BPAY Reload Fee$0
Negative Balance Fee$0
Minimum Age18
Available to Temporary Residents?No

Which currencies can I load onto my Velocity Global Wallet Card?

The Velocity Global Wallet Card supports the following 11 currencies:

  • Australian dollars (AUD)
  • Canadian dollars (CAD)
  • Euros (EUR)
  • British pounds (GBP)
  • Hong Kong dollars (HKD)
  • Japanese yen (JPY)
  • New Zealand dollars (NZD)
  • Singapore dollars (SGD)
  • Thai baht (THB)
  • US dollars (USD)
  • South African rand (ZAR)

All funds are loaded into your Australian currency wallet unless you have selected a foreign currency wallet as your Preferred Load Wallet. In that case, your funds will be loaded with the real-time exchange rate for that currency. Rates are updated continuously throughout the day, and you can check them at any time anytime using the Global Wallet app or website.

What happens when I spend in an unsupported foreign currency?

In the event you make a purchase in a currency that isn't supported, or isn't sufficiently loaded on the card, two things will happen. First, a foreign exchange fee of 2.25% will be applied to your total transaction amount.

Second, available funds from your other active currency wallets will be debited to pay for the transaction, according to the currency order or "drawdown sequence". The drawdown sequence is the order in which you prefer your available wallet balances to be debited when making a transaction. You can set your preference with the Global Wallet app, online, or by calling customer assistance on 13 18 75, or +61 2 8667 5924 from overseas.

How does the drawdown sequence work?

To illustrate, imagine you load your Velocity Global Wallet Card with AUD$1,000 and subsequently convert AUD$99 into New Zealand Dollars and AUD$900 into Thai baht (THB). On your way to Bangkok, you stop over in Singapore and have a meal priced in Singapore dollars at SGD$200.

When you use your card to pay, it performs an "auto wallet transfer" to transfer funds from your first wallet in the drawdown sequence, which is the Australian currency wallet. Since you only have AUD$1 left in that wallet, your card performs a second auto wallet transfer to convert your NZD balance into SGD.

As that isn't sufficient either, a third auto wallet transfer takes place converting THB into SGD to complete the transaction. All three currency conversions are subject to Velocity's prevailing exchange rates and the 2.25% currency conversion fee.

Where can I use my Velocity Global Wallet?

You may use your Velocity Global Wallet Card online, in-store and at ATMs globally wherever Visa is accepted, including over 30 million locations worldwide. Your card cannot be used for Internet gambling or illegal transactions, cash-out transactions at a point of sale, or where a merchant does not accept Visa prepaid cards.

Features of the Velocity Global Wallet Card

Other features and benefits you can access with a Global Wallet card include:

  • Velocity Frequent Flyer program. Enjoy the membership perks of the Velocity Frequent Flyer program, including the ability to earn points per $1 spent. Earn 2 Velocity Points per $1 spent overseas and 1 point per $3 spent in Australia. You can redeem points for travel, dining, entertainment, lifestyle products and services.
  • Locked-in exchange rates. Locking in currency exchange rates ahead of travelling helps you to stay in control of your budget and spending.
  • Additional card. You can request a supplementary card for $10 via the Global Wallet Account Centre. This card lasts for up to five years and functions in the same way as the primary card, giving access to the same funds and letting you earn Velocity Points whenever you use it for purchases. It also serves as a backup card should you lose or damage the first one.
  • Worldwide ATM alliance. Access your cash at any overseas ATM that accepts Visa prepaid cards.
  • Smartphone app. Easily manage your account online by logging in to the Global Wallet Account Centre or by using the Global Wallet app on your smart device. You can view your transactions and balances, as well as transfer money between currency wallets.
  • Account and transaction limits. Your account balance cannot exceed AUD$25,000 or its equivalent. The maximum daily amount you can withdraw from an ATM is AUD$2,500 or its equivalent in another currency, or the withdrawal limit set by the ATM operator.

How much does the Velocity Global Wallet Card cost?

This table presents the costs associated with using the Velocity Global Wallet Card and explains when the fee will be charged.

Type of feeCostWhen you'll be charged
Purchase fee$0You don't have to pay a fee to order the card.
Supplementary card fee$10When you request an additional card
Load/reload fee0%You won't be charged a fee when you load or reload with bank transfer.
International ATM withdrawal feeAU$1.95Each time you withdraw money from an overseas ATM in the relevant supported currency.
Domestic ATM withdrawal feeAU$1.95When you withdraw funds from an ATM in Australia
Currency conversion fee2.25% of the transaction (in AUD$)Whenever you transact in a currency that is unsupported or insufficiently loaded on your card
SMS fund transfer fee$0There is no fee to transfer money to other cardholders via Mobile Services.
Card to card transfer fee$0You won't be charged if you transfer funds to another card.
Inactivity feeAU$1.95This fee will apply each month after your account has been inactive for 12 consecutive calendar months.
Closure/cash-
out fee
$0It is free to close your account and cash out any available balance.
Emergency cash transfer fee$15When you request an emergency cash transfer of up to AUD$3,000 or equivalent.

How to use the Velocity Global Wallet Card

Follow these steps to get your travel card up and running.

  1. Activate the card. You can activate your Velocity Global Wallet Card with the Global Wallet app, online or by calling 13 18 75 in Australia, or +61 2 8667 5924 from overseas and following the prompts. Make sure you have your personal information (such as your contact details and drivers licence) on hand for identification purposes.
  2. Load funds onto the card. Once your card is activated, you can load Australian dollars onto your Velocity Global Wallet Card via bank transfer or BPAY. You can find instruction details for either method by logging in to the Global Wallet Account Centre.Note that bank transfers can take up to one business day to be reflected in your account, while BPAY transactions can take up to three business days. The maximum amount for each load or reload is AUD$25,000 as long as it doesn't cause your total available balance to exceed AUD$25,000.
  3. Manage your online account. Once funds are loaded to your Velocity Global Wallet Card, you can transfer money between currencies by logging in to the Global Wallet Account Centre online, or by using the Global Wallet app on any smart device.You can perform a variety of tasks including the following:
    • View your account balance and transaction history
    • Move money between currency wallets
    • Activate a replacement card
    • Request a supplementary card
    • Report a lost or stolen card
    • Change your account password and card PIN
    • Reclaim funds
    • Manage your alert notifications

What do I do if I return home with foreign currency remaining on the card?

Keep the money on your card for future trips, or apply for a funds redemption by logging in to your account online or by calling Customer Assistance on 13 18 75. Any remaining foreign currency will be converted to Australian dollars at the prevailing Velocity exchange rate at the time your request is processed, and the funds paid out to you via your designated method.

Who do I contact if my card is lost, stolen or damaged?

Report any card loss or theft instantly, as you may be held liable for losses resulting from unauthorised transactions if you take too long to report the incident. Cancel your card using the Global Wallet app or via the Global Wallet Account Centre. You can also call 13 18 75 or +61 2 8667 5924 while overseas. You can request a replacement card or emergency cash transfer, or use your supplementary card if you have one.

How to apply for a Velocity Global Wallet Card

If you're an existing Velocity member, log in to your Velocity account and go to "My Benefits".

If you're new to Velocity, you can request that your new membership card comes enabled with Global Wallet. Go to the Velocity website and click the "JOIN FREE NOW" button. You will be required to fill in an online form with your personal details and contact information. For security purposes, you will also need to create a password, PIN and security question.

Your card will arrive via post in 10 to 15 working days.

Are there any eligibility requirements?

You must be over 18 and have a residential address in Australia.

In addition to locked-in currency exchange rates and fee savings, the Velocity Global Wallet Card offers a great way to earn Velocity Points on your overseas expenditure. Compare all available travel card options before applying to make sure you choose one that will best serve your personal travel needs and spending preferences.

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544 Responses

  1. Default Gravatar
    KevinOctober 17, 2018

    How do I apply for a foreign currency global wallet as my Preferred Load Wallet

    • finder Customer Care
      JohnOctober 17, 2018Staff

      Hi Kevin,

      Thank you for leaving a question.

      If you’re an existing Velocity member, log in to your Velocity account and go to “My Benefits”.

      If you’re new to Velocity, you can request that your new membership card comes enabled with Global Wallet. Go to the Velocity website and click the “JOIN FREE NOW” button. You will be required to fill in an online form with your personal details and contact information. For security purposes, you will also need to create a password, PIN and security question.

      Your card will arrive via post in 10 to 15 working days. You may customize the card as your preferred load wallet by doing it on your online account once you have signed up for it. Hope this helps!

      Cheers,
      Reggie

  2. Default Gravatar
    JohnOctober 1, 2018

    When is a pin required to be used?

    • finder Customer Care
      NikkiOctober 2, 2018Staff

      Hi John,

      Thanks for your message and for contacting finder.

      A pin is used to withdraw funds from the ATM. There are some merchants that may require for a PIN when you use the Velocity Global Wallet for in-store purchases. If you enter your PIN incorrectly three times, your Global Wallet® travel card will be locked and you will need to contact Velocity and follow the Global Wallet® prompts to have it unlocked. After you have completed the Global Wallet® activation process you can set your PIN online, or contact Velocity and select the Global Wallet® option.

      Hope this helps. Feel free to message us should you have further questions.

      Cheers,
      Nikki

  3. Default Gravatar
    ChéSeptember 1, 2018

    Is there a charge for converting my money back to Australian dollars

    • Default Gravatar
      ArnoldSeptember 3, 2018

      Hi Che,

      Thanks for your inquiry

      Any remaining foreign currency will be converted to Australian dollars at the prevailing Velocity exchange rate at the time your request is processed, and the funds paid out to you via your designated method. The currency conversion fee of 2.25% of the total amount will apply.

      Hope this information helps

      Cheers,
      Arnold

  4. Default Gravatar
    JenJune 18, 2018

    Will I be charged a fee for using my card for in store purchases overseas if I have already converted my money to the local currency?

    • finder Customer Care
      JeniJune 18, 2018Staff

      Hi Jen,

      Thank you for getting in touch with finder.

      No. You are only charged a foreign exchange fee of 2.25% if you make a purchase in a currency that isn’t supported, or isn’t sufficiently loaded on the card

      I hope this helps. Please feel free to reach out to us if you have any other enquiries.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

  5. Default Gravatar
    MariaJune 11, 2018

    I am trying to log in into my account & log in asks for your Velocity number & password. I put my Global wallet card number & password but it tells me it’s wrong. Do I use my Velocity number or my GW card no? I have tried both. I also reset my password successfully first.

    • finder Customer Care
      JeniJune 12, 2018Staff

      Hi Maria,

      Thank you for getting in touch with finder.

      I suggest that you check first which website you are entering your details with. Please note that velocityfrequentflyer.com is different from velocityglobalwallet.com however they both ask for your Velocity number and not your Global wallet number upon logging in.

      If you are on the Global Wallet app and still having issues logging in, please call 13 18 75 and follow the prompts. Also, make sure you have your personal information (such as your contact details and drivers licence) on hand for identification purposes.

      I hope this helps.

      Have a great day!

      Cheers,
      Jeni

  6. Default Gravatar
    JennyMay 8, 2018

    When making a purchase in-store, do I select savings or credit when using my pin number?

    • finder Customer Care
      NikkiMay 8, 2018Staff

      Hi Jenny

      Thanks for your message and for visiting finder – the leading comparison website & general information service built to give you advice in your buying decision needs. How are you doing today?

      In making in-store purchase you’d have to select “SAVINGS”

      Hope this helps!

      Cheers,
      Nikki

    • Default Gravatar
      JennyMay 9, 2018

      Am I right in thinking that when making cash withdrawals from ATM’s both here & Overseas I should select “credit”?

    • finder Customer Care
      NikkiMay 9, 2018Staff

      Hi again, Jenny!

      To withdraw from an ATM locally and overseas, you can select Savings, Credit or Cheque. Ultimately, it would depend on the card you’re using. You may refer to this page to find out.

      Hope this clarifies!

      Cheers,
      Nikki

  7. Default Gravatar
    deniseMay 6, 2018

    If I load 3 currencies does velocity automatically use from the currency of the country where I am withdrawing or do I need to change the order before moving to another country.

    • finder Customer Care
      JeniMay 6, 2018Staff

      Hi Denise,

      Thank you for getting in touch with finder.

      You don’t need to change the currency order before moving to another country but make sure that the currency of the country you’re going to is supported by this wallet. Your transactions will automatically be deducted based on the supported currency. In the event that your balance is insufficient then available funds from your other active currency wallets will be debited to pay for the transaction, according to the currency order or “drawdown sequence”. The drawdown sequence is the order in which you prefer your available wallet balances to be debited when making a transaction. You can set your preference with the Global Wallet app, online, or by calling customer assistance on 13-18-75, or +61-2-8667-5924 from overseas.

      I hope this helps.

      Have a great day!

      Cheers,
      Jeni

  8. Default Gravatar
    CarolineApril 27, 2018

    I have received a Virgin Global Wallet Card and I am not sure I understand how to use these cards. I am travelling to Mexico and the US next week. Do I load money into the US dollar account? When I withdraw money in Mexico, will it come out of the US dollar account? How much extra will I be charged? Just so I understand, why would you use one of these cards as opposed to your normal banking key-card?

    Thanks so much

    • finder Customer Care
      JeniApril 27, 2018Staff

      Hi Caroline,

      Thank you for getting in touch with finder.

      Some cards also offer rewards or the ability to load funds in different international currencies. 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.

      Do I load money into the US dollar account?
      – Once your card is activated, you can load Australian dollars onto your Velocity Global Wallet via bank transfer or BPAY. You can find instruction details for either method by logging in to the Global Wallet Account Centre. All funds are loaded into your Australian currency wallet unless you have selected a foreign currency wallet as your Preferred Load Wallet. In that case, your funds will be loaded with the real-time exchange rate for that currency.

      When I withdraw money in Mexico, will it come out of the US dollar account?
      – Yes, it will come out of your Preferred Load Wallet which has the US dollar currency.

      How much extra will I be charged?
      -ATM Withdrawal Fee is AU$1.95 and Currency Conversion Fee is 2.25%.

      I hope this helps.

      Have a great day!

      Cheers,
      Jeni

  9. Default Gravatar
    DannyApril 26, 2018

    If I load both GBP and Euros on either my Qantas card or Velocity card and return to Australia with funds on the card, am I able to convert these GBP and Euros to say USD. Without losing too much in the transfer.

    • finder Customer Care
      JeniApril 26, 2018Staff

      Hi Danny,

      Thank you for getting in touch with finder.

      If you are pertaining to this Velocity Global Wallet which is a prepaid travel card, you can set your preference with the Global Wallet app, online, or by calling customer assistance on 13 18 75, or +61 2 8667 5924 from overseas.

      Please note that currency conversions are subject to Velocity’s prevailing exchange rates and the 2.25% currency conversion fee.

      As a friendly reminder, while we do not represent any company we feature on our pages, we can offer you general advice.

      I hope this helps.

      Have a great day!

      Cheers,
      Jeni

  10. Default Gravatar
    TreMarch 23, 2018

    What is the maximum points able to be earnt per year on global velocity card? Are points earned with payments made to the ato?

    • finder Customer Care
      JeniMarch 23, 2018Staff

      Hi Tre,

      Thank you for getting in touch with finder. There’s no limit on earning points with your Velocity Global Wallet. You can earn Velocity points when flying with Virgin and its airline partners, and when making eligible purchases. You may also want to check out this link to learn more on how you can maximise earning points using your card.

      I hope this helps.

      Have a great day!

      Cheers,
      Jeni

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