ANZ Rewards members are being offered a massive 50% bonus when transferring points to their Velocity accounts. The promotion is part of the Velocity Billion Points giveaway which kicked off this morning, and runs through May.
While ANZ Rewards have tipped in extra points in the past, this looks to be the simplest and most generous top up yet. In previous rounds, the additional points have been tied to setting up auto redemptions and the like. For example, last November, they offered a total bonus of 35% when setting up an auto-redemption.
ANZ Rewards Velocity Transfer Bonus
ANZ Rewards is offering an additional 35% on top of the standard 15% bonus offer being made through Velocity. This brings the total bonus to 50%, which is the highest on offer across all cards. In fact, it is probably the highest transfer bonus that we have ever seen.
This time around there is no need to set up an auto-redemption, although you can if you prefer. ANZ Rewards will pay the bonus if you do the transfer either way – through a manual transfer or auto-redemption.
The main advantage of being able to do it manually is that you do not need to transfer all of your points. You can simply transfer the number of points that you wish.
If you prefer the set and forget method that auto-redemption allows, then that will also pay the bonus.
There are some advantages in remaining with the manual transfers. As already noted, it gives you flexibility in the number of points that you are able to transfer across.
If you do want to transfer all the points, then it may still be worthwhile doing it manually. Under the auto-redemption process, points are transferred monthly. As a result, you will only get a bonus on the points transferred in May. Given that Velocity seem to offer the bonus twice a year, you may be better off leaving the points in your ANZ Rewards account. When a bonus promotion is on offer, you can move them across during the promotion.
Krisflyer
It is worth remembering that you can transfer your Velocity points across to KrisFlyer. While the transfer to KrisFlyer results in a loss of points, the 50% bonus more than makes up for this loss.
Overall
Overall this is a good offer for ANZ Rewards members. It offers one of the best bonus offers around when transferring to Velocity. There are also benefits for members that would prefer KrisfFlyer miles.
