Qantas Cash

[DizOz]

I just received my new Qantas Club membership card that can be used with their new Qantas Cash service. It allows me to put cash on it in 9 different currencies from around the world and use it at ATM's and anywhere MasterCard is accepted.

Has anyone used this service?

 

[kylieh]

My understanding is that it is pretty much the same as all of the other pre-paid cards like the post office, Anz Travel Card etc.

Dh and I are still waiting for ours, 2 of the people at work got theirs early during the week.

When my colleague transferred money he did a comparison between that and the post office, and one other (can't remember which) and the rate was slightly better for the Qantas one.

 

[becpee]

My understanding is that it is pretty much the same as all of the other pre-paid cards like the post office, Anz Travel Card etc.

Dh and I are still waiting for ours, 2 of the people at work got theirs early during the week.

When my colleague transferred money he did a comparison between that and the post office, and one other (can't remember which) and the rate was slightly better for the Qantas one.

I'm waiting to see what happens to the rate when the card is in full swing, whether the rate remains competitive and whether it is something you can check before you pay into it or whether it's pot luck...

I'm excited to get mine and start using it

 

[izzybjenn]

Mine arrived on Friday. However, I called to ask if they would rush it (the roll out is from now to Dec) as we were going to be going in Dec. when I called the Aussie dollar was going down so I wanted to lock it in very quickly before it fell more. Qantas arranged for it to come out quickly and it took a week.

I've had trouble activating the Qantas Cash component and ended up going to the post office to do the identity check. Just waiting for that to process now. Hopefully, next week we shall have it up and going and I will let you know how it is to use as I need to pay for a few things.

 

[ColinA]

I read some the fine print, you get a $1.00/month fee for inactivity. I will not be using for the cash purposes.

 

[DizOz]

Here are the fees from their website:

Initial load / reload fee​

No fee​

BPAY® / POLi™ load / reload fee

No fee​

POS transaction fee (for purchases in Australia and overseas)

No fee^​

Domestic ATM withdrawal fee (in Australia)

No fee+​

International ATM withdrawal fee (outside Australia)

AUD 1.95; USD 1.95; GBP 1.25; EUR 1.50; NZD 2.50; SGD 2.50; HKD 15.00;
CAD 2.00; JPY 160+​

​

Qantas Cash 24/7 Global Emergency Assistance

No fee​

Cash over the counter fee (the amount depends on the transaction currency)

AUD 10.00; USD 10.00; GBP 6.50; EUR 8.00;NZD 12.50; SGD 12.50; HKD 80.00; CAD 10.50; JPY 800​

Negative balance fee charged when a negative balances arises on your card

AUD 20.00​

Monthly Inactivity fee (charged at the start of each month if you have not made any purchase or ATM withdrawal transactions using Qantas Cash in the previous 12 months, unless the remaining balance is less than the inactivity fee)

AUD 1.00​

"Cash out" / unload fee (for Qantas Cash facility funds directly to your bank account on closing your Facility)

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​

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​

Currency Conversion Fee

3% of transaction value#​

​

 

[becpee]

All seems pretty reasonable to me, just waiting to read more to see if there is a catch

 

[gogo65]

I am wanting to compare the virgin card with the qantas card. Have got thevirgin card but still waiting on the qantas card
I did the qantas survey regarding this card about 6 months ago, the fees they were planning then were outrageous, I think they have brought it in line with the virgin card now.
Wonder how long it will take for the only to hit your account after transferring? The virgin card seems to be around 2-3 days which is pretty poor, you think bpay payments would be processed quicker than that.

 

[DizOz]

I logged on today and did it was so easy. It did my ID check online in a few seconds and then one phone call to get my PIN number and I am ready to load funds. Even this can be done online either by BPay or Poly (For those who don't know is an online banking system that allows you to access your bank accounts without having to go to your bank's website.)

The exchange rates look real good as well. Over a cent better than the big 4 banks and better than most of the travel cards based on my online research.

 

[kylieh]

here's my experience thus far

Received and activated, really easy, surprisingly quick.

I did two transfers to test timing, both AU$ - one Poli and the other BPAY. This was Thursday afternoon around 5pm.

The POLI was in their this morning, BPAY this afternoon, I received an email each time money arrived. I don't know if the timing was because of the public holiday or if its always like that.

I just did a transfer from AU$ to US$, on the card. Very simply, only took seconds. Got a rate of .9154 - at the same time comparitively, Travelex is .8978, ANZ .9045, and Amex is .9096.

There are three ways to load....

• BPAY and take pot luck on the rate at the time of transfer, use their BPAY code and your card number. It will go in AU$ unless you set your default to another currency.
• BPAY with a prearranged amount - login, set the amount you wish to pay in to the card and the currency, you will get a different BPAY code etc to pay with.
• POLI, just like the 2nd method of BPAY.

FWIW, if you like prepaying currency before travel or buying from online, eg, normally with an ANZ Travel Card, Travelex Card, etc it appears to be a better deal, plus you get the points which is a bonus

 

[gogo65]

I'm still deciding if I should activate my virgin or qantas one.
I have only used the aus post card when I travelled to guatemala but the idea of points on the qantas/virgin card is an extra bonus
Thinking I may start putting money on it each pay between now and our holiday, as it will even out the exchange rate, I can do both Euro and USD as well! Decisions

 

[becpee]

I'm still deciding if I should activate my virgin or qantas one.
I have only used the aus post card when I travelled to guatemala but the idea of points on the qantas/virgin card is an extra bonus
Thinking I may start putting money on it each pay between now and our holiday, as it will even out the exchange rate, I can do both Euro and USD as well! Decisions

I was researching the Qantascash card today and the rate is about .1c better than the post office.
I am waiting (im)patiently for my card as I have money to put on it
It seems like a pretty good deal, just waiting for the other shoe to drop to find out what the catch is

 

[platypus67]

I have both Qantas & Virgin and have activated each one. From my experience the Qantas had better exchange rates and no load fees. It was also quicker to make the funds available. I was worried that the card wouldn't arrive in time so put some cash on the Virgin card then my Qantas card arrived in the mail the next day.
Hubby has received his and I got an email yesterday telling me my DD's is on the way so we should be all set in time for our holiday.
I'll stick with Qantas as we usually fly with them and our credit card is linked as well.

 

[gogo65]

I just read this interesting article, looks like I'll activate the qantas card...
In regards to points we have both qantas and virgin and would prefer to accrue non qantas points as much as possible but it is not a huge factor as the points will be relatively minimal
http://www.ausbt.com.au/travel-mone...qantas-cash-vs-virgin-australia-global-wallet

 

[heidispidi]

Just this morning I have loaded some money onto my Virgin global wallet for our Singapore trip next week. Using POLi, the transfer is supposed to take 2 business days - I will let you know how long the money actually takes to reach my global wallet...

 

[platypus67]

What I liked about the Qantas card over the Virgin card was that I was able to load directly to the currency I wanted and lock in my exchange rate without having to first transfer via BPAY and then convert.

I purchased the amount I wanted in USD and was given the AUD amount with a payment reference. I simply went to my bank account and did the BPAY with the customer reference number provided (I was given 4 hours to BPAY) and when it turned up on my Qantas card 3 days later it was for the USD amount.

I had a look at my Virgin account and it doesn't look like this option is available so by the time the AUD hits your account the exchange rate could have changed. Great if it's a better exchange rate but not so good if it isn't.

 

[heidispidi]

My cash is in my Virgin Global Wallet this morning, so didn't require the full 2 business days. The exchange rate for my Sing $ is almost 2 cents better than the Aus Post cash passport rate, and 1 cent better than their cash rate. I assume it would be similar for US dollars.

 

[Sugarglider]

I have a question about the Currency Conversion Fee at 3% - when is this charged? do they charge 3% every time something is put on the card?

 

[platypus67]

I have a question about the Currency Conversion Fee at 3% - when is this charged? do they charge 3% every time something is put on the card?

The way I understand this is that if you purchase something say in USD but only have funds available in your AUD wallet they will charge you to convert it. As long as you have sufficient funds in the wallet of the currency you are purchasing in then no fee is charged.

As I said this is how I understand it so it is only my interpretation of what I read in the PDS.

 

[Sugarglider]

Ah beautiful - thank you