Westpac Altitude Rewards and Velocity introduce Auto-Redemption

Westpac customers can now earn Velocity Points easier with Velocity Auto-Redemption

12 February 2016: It’s as simple as it sounds. Last week Westpac and Velocity announced that they would join forces to offer Altitude Rewards cardholders a "Velocity Auto-Redemption" option. If you opt for this service, your Altitude Points will automatically convert to Velocity Points on a monthly basis.

The transfer exchange rate is the same as if you conducted the transfer manually (1 Velocity Point per 2 Altitude Rewards), but it’s the convenience of not having to lift a finger that makes the new tool so appealing. The real cherry on top, though, comes with the following bonuses:

  • Bonus Velocity Points. If you decide to auto-transfer your points between 1 February 2016 and 31 March 2016, you’ll earn 15% more Velocity points.
  • Reduced airfares. Make a domestic flight booking with Virgin Australia between 1 February 2016 and 31 March 2016 and you’ll receive 15% off the cost.
  • 1,000 bonus Velocity Points. If you have a Westpac Altitude Rewards card but haven’t joined the Velocity program yet, you could earn 1,000 bonus points if you sign up and sign up for Auto-Redemption before 31 March 2016.

How can I sign up for Auto-Redemption and take advantage of the bonus offers?

  1. Sign into your online Altitude Rewards account
  2. Select “Rewards Account” and “Manage Auto-Redemptions”
  3. Once you’ve opted in, your bonus points will automatically go into your Velocity account at the end of the month
  4. If you’d like to take advantage of the reduced airfare, go into “Manage Auto-Redemptions” and click on the offer banner and make a booking before 31 March 2016

If you were already transferring your Altitude Rewards for Velocity Points, this could be a great way to earn some bonus rewards and simplify the process. However, if you don’t always use your Altitude Rewards for Velocity Points, you might want to reconsider signing up. Once you opt in, your Altitude Rewards lose their flexibility and can’t be redeemed for anything except Velocity Points.

Consider how you usually use your points and whether Auto-Redemption is the most valuable option before signing up.

Sally McMullen

Sally McMullen is a journalist at finder.com.au who is a credit cards, frequent flyer and travel money expert by day and music maven by night.

Was this content helpful to you? No  Yes

Related Posts

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au 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

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

Ask a question