Velocity Global Wallet Review

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

The Velocity Global Wallet 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, 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$100,000
24 Hour ATM Cash Withdrawal Limit$2,500
Card Issue Fee$0
Initial Load Fee$0
ATM Withdrawal FeeAU$1.95
Reload Fee$0
Monthly Inactivity Fee
after 12 months inactivity
Balance Enquiries$0
Card Replacement Fee$0
Currency Conversion Fee2.25%
BPay Reload fee$0
Negative Balance Fee$0
Minimum Age18
Available To Temporary ResidentsNo

Which currencies can I load onto my Velocity Global Wallet?

The Velocity Global Wallet 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 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 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

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 cost?

This table presents the costs associated with using the Velocity Global Wallet 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 fee$0You 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.
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

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

  1. Activate the card. You can activate your Velocity Global Wallet 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
  2. Load funds onto the card. 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.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, 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

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 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.

Back to top
Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, read the PDS or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.

524 Responses

  1. 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?

    • Staff
      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!


  2. Default Gravatar
    WaltraudMarch 18, 2018

    Thanks for the info provided on Qantas Cash and the Velocity Wallet. One thing that is rather important was not discussed: the exchange rate used for conversions from AU to other currencies. Which card has the better rates? Do ‘better’ rates differ from currency to currency? Etc. E.g., — hypothetically — when travelling to Europe, Velocity consistently has better exchange rates, but when travelling to NZ, it is Qantas…

    Qantas exchange rates are easy to find on the Cash’s website, but what about the Velocity rates on the Wallet or elsewhere? Couldn’t find them.

    Thank you for letting me know.

    Waltraud W

    • Staff
      JoshuaMarch 25, 2018Staff

      Hi Waltraud,

      Thanks for getting in touch with finder.

      It would be great to have a table that compares the rates when exchanging from one currency to another. I recognize that it could be a great additional information on our pages. However, the challenge is exchange rates aren’t constant. They change on a day to day basis.

      Regarding the Velocity Global Wallet exchange rates, you will most likely know about them when you are about to do a currency conversion transaction. Moreover, it would also be helpful to visit their website or get in touch with them to obtain a more personalised answer.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


  3. Default Gravatar
    SabermorsliMarch 14, 2018

    Can I Withdraw My Funds From Any ATM In The World Like Algeria

    • Staff
      LouMarch 14, 2018Staff

      Hi Sabermorsli,

      Thanks for your question.

      Yes, you may use the Velocity Global Wallet at any ATM worldwide including Algeria where Visa is accepted. However, you can’t use it for gambling transactions or for cash-out at point of sale.

      I hope this helps.


  4. Default Gravatar
    ColinOctober 25, 2017

    Which atms can i ues in fiji

    • Default Gravatar
      MariaOctober 26, 2017

      Hi Colin,

      Thank you for your inquiry.

      You may use your Velocity Global Wallet at ATMs globally wherever Visa is accepted.
      You might want to check with ATM Operators in advance regarding their ATM Fees should you choose to withdraw using your Velocity Global Wallet in Fiji.

      I hope this helps.


  5. Default Gravatar
    fuaSeptember 7, 2017

    Im travelling to Laos if I load australian dollars can I still withdrawal in Laos at an ATM to receive kip?

    • Default Gravatar
      GruSeptember 8, 2017


      Yes, you may still withdraw at an ATM in Laos to receive KIP.
      However, please be aware that the only supported currencies are the following:

      In the event you make a purchase or withdrawal 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.

      Hope this helped.


  6. Default Gravatar
    ElizabethAugust 26, 2017

    How long does it take to get a card. I leave for my trip on the 31 August

    • Staff
      JhezelynAugust 26, 2017Staff

      Hi Elizabeth,

      Thanks for your comment.

      Once you have joined Velocity through the Global Wallet® website, it should take approximately 14 working days for your new card to be delivered. If you have not received it within this timeframe contact Velocity directly and they will organise a replacement.


  7. Default Gravatar
    AlexJuly 26, 2017

    What happens if there is a refund on the purchase that was made in one of the valet currencies

    • Staff
      DanielleJuly 27, 2017Staff

      Hi Alex,

      Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.

      According to their terms, if you are entitled to a refund for any reason relating to a transaction, you agree to accept the refund under the policy of that specific merchant. Refunds may be in the form of a credit to your Available Balance, cash refund or in store credit.

      I hope this helps.


  8. Default Gravatar
    TomJuly 13, 2017

    If I use velocity global wallet to pay a bill using Bpay, does this earn points? Also, do they pay points for ATO or government spending? Thank you in anticipation.

    • Staff
      RenchJuly 13, 2017Staff

      Hi Tom,

      Thanks for your inquiry.

      Unfortunately, you will not earn Velocity Points when paying bills using BPay. You can earn Velocity Points with Global Wallet for shopping in-store and online, locally and overseas. Earn 1 Velocity Point per AU $1.00 (in the equivalent international currency) spent overseas and 1 Velocity Point per AU $2.00 spent in Australia.

      This page may also be helpful to you. Please contact Velocity directly for further inquiries.


    • Default Gravatar
      TomJuly 13, 2017

      Hi Rench, thanks for your prompt reply. Does velocity pay points on Australian Tax Office spending? Regards, Tom

    • Staff
      RenchJuly 14, 2017Staff

      Hi Tom,

      Unfortunately, no. You can use the Velocity points for flight upgrades, car hire, fuel, hotels, holidays and travel, sport, Velocity Rewards Store, points booster. You can get more details on Velocity Frequent Flyer official site.


  9. Default Gravatar
    JamesJune 23, 2017

    Do you know the exact ATM machines withdrawal is available from without incurring ATM fees? Because today I was charged a $2 fee from withdrawing from a NAB ATM. Thanks

    • Staff
      RenchJune 24, 2017Staff

      Hi James,

      Thanks for your inquiry. Please note that we are not affiliated with Velocity or any company we feature on our site and so we can only offer you general advice.

      For Domestic ATM withdrawal, you won’t be charged a fee when you withdraw funds from an ATM in Australia. For international ATM withdrawal, each time you withdraw money from an overseas ATM in the relevant supported currency. If the currency isn’t supported, you will be charged AUD$1.95.

      Regarding the $2 fee that occurred by withdrawing from a NAB ATM, you may want to contact Velocity directly for this concern.

      Best regards,

  10. Default Gravatar
    LarraineJune 22, 2017

    How do I withdraw from an ATM and how do I purchase online?

    • Staff
      RenchJune 22, 2017Staff

      Hi Larraine,

      Thanks for your inquiry.

      To make an ATM withdrawal, simply press the ‘Credit’ button. For purchasing online, you will need to input your card details for your payment. You can get more information on this by going to the Velocity Global Wallet official website.

      Hope this helps.


Ask a question
Go to site