Virgin Australia ditches its Velocity Global Wallet travel money card

The Velocity Global Wallet travel money card is about to become a discard.

By David Flynn, November 26 2020
Virgin Australia ditches its Velocity Global Wallet travel money card

Virgin Australia is taking the scissors to its Velocity Global Wallet card, which let travellers pay for overseas transactions in up to ten currencies.

The prepaid Visa card was launched in July 2013 as a single piece of plastic which also served as a Velocity Frequent Flyer membership card, and competed against the similar Qantas Cash (now called Qantas Travel Money) card.

One of its features, which proved very handy for guarding against card number theft when online shopping, was the ability to create a 'virtual card' with its own unique number.

That card could be used just once, if you wanted to be super-cautious, with a new card and number conjured up for your next shopping session.

However, Virgin's Velocity Frequent Flyer division says that after almost eight years "we are winding down the Velocity Global Wallet program."

"You will continue to be able to spend or perform ATM withdrawals of your funds until 31 July 2021 and redeem your funds beyond that date."

But before then – from 1 February 2021, to be precise – "Velocity will no longer be associated with the Global Wallet product."

Global Wallet spends in Australia and abroad will no longer earn Velocity Points, while "fees will apply to ATM transactions and funds redemptions."

When Virgin introduced the Global Wallet card, Velocity members could pocket one point for every $2 spent in Australia (0.5 Velocity Points per $1) and for every $1 spent overseas.

The local earning rate was later pruned to one Velocity Point per $3 spent (0.33 Velocity Points per $1), and as of May 4 this year slumped to one Velocity point per $4 spent (0.25 Velocity Points per $1).

Virgin also clamped down on the types of purchases that qualify for points, although it dropped the $1.95 cash withdrawal charge imposed at ATMs in in Australia and overseas.

Also read: Qantas offers status fast track to Velocity Gold, Platinum frequent flyers

David

David Flynn is the Editor-in-Chief of Executive Traveller and a bit of a travel tragic with a weakness for good coffee, shopping and lychee martinis.

27 Nov 2020

Total posts 1

It seems money cards are not available anywhere.    Westpac, ANZ, even Travelex, if you go to the money card section they are no longer available. I bank St George....their site says "New travel money card coming soon. Watch this space. Existing Global Currency Card cards will continue to operate until further notice." So looks a bigger thing than just Virgin. Unable to see any change to Qantas card, as I am not a member.

11 Jul 2019

Total posts 1

I use this card daily for all my personal transactions plus when overseas. 

I'm disappointed that it will disappear. 

The qantas card is rubbish compared with the velocity card. 

Virgin Australia - Velocity Rewards

27 Nov 2020

Total posts 1

Me too — use mine daily. Plus, the additional cards are super useful — especially for sharing expenses with someone. 

20 Oct 2015

Total posts 106

I liked the 'virtual card' feature on the Global Wallet, very handy for single-use online shopping at a site I had not bought from previously and might or might not use again.


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