Velocity updates Global Wallet Fee Structure

Velocity recently updated parts of the fee structure for the Global Wallet. As a result, our previous comparison of fees between the Qantas Cash card and the Velocity Global Wallet needed updating. The updated comparison is shown below.

As we noted in our earlier article, the fee structure of the Global Wallet was such that there was a tendency to have higher fees than Qantas Cash. The changes that have recently been made, largely bring the fees into line with the Qantas offering. The fees affected are the load fee (reduced from $1.00 to free), overseas ATM fees, inactivity fee (reduced from $1.95 to $1.00 per month), and the cash out fee.

These changes have gone a long way to removing the cost advantage that the Qantas Cash card had in the original fee structure.

Qantas
Virgin
Card
Issue Fee
No Fee
No Fee
Supplementary
Card
$10.00
Load
Fees
No Fee
No Fee
Load
Methods
Bpay/Poli
Bpay/Poli
POS
transaction fee (for purchases in Australia and overseas)
No fee^
Not
stated
ATM
Transaction Fee (Australia)
(ATM operator may impose a fee)
No Fee
No Fee
Currencies
supported
Australian
Dollar
Australian
Dollar
British
Pound
British
Pound
Canadian
Dollar
Canadian
Dollar
Euro
Euro
Hong
Kong Dollar
Hong
Kong Dollar
Japanese
Yen
Japanese
Yen
New Zealand
Dollar
New
Zealand Dollar
Singapore
Dollar
Singapore
Dollar
Thai Baht
Thai
Baht
United
States Dollar
United
States Dollar
International
ATM withdrawal fee (outside Australia)
AUD
1.95
GBP
1.25
GBP 1.25
CAD
2.00
CAD
$2.00
EUR
1.50
EUR 1.50
HKD
15.00
HKD 15.00
JPY 160
JPY 160
NZD
2.50
NZD 2.50
SGD
2.50
SGD
2.50
THB 70
THB 60
USD
1.95
USD 1.95
Negative
balance fee charged when a negative balances arises on your card
AUD
20.00
Not
stated
Inactivity
Fee. Charged Monthly when no activity has occurred on the card in twelve
months.
AUD
1.00
AUD 1.00
Cash
Out Fee
No fee
No Fee
Replacement
Card fee (charged if you are issued with a replacement card, including if
your existing card is lost, stolen or damaged)
AUD
10.00
Free
Card to
Card Transfer Fee
No fee
Paper
communication fee (charged when providing paper statements but excluding any
communications which are required to be provided in hard copy free of charge)
AUD
5.00 per communication
Not
stated
Currency
Conversion Fee
3%
3%
Points
earned (Australia)
1 point
per $2 spend
1 point
per $2 spend
Points
earned (International)
1 point
per 1 AUD equivalent
1 point
per 1 AUD equivalent

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