Attention Pointsmaxxers: Velocity Is Offering Up To 20% Bonus Points On Bank Transfers Right Now

Calling all strategic pointsmaxxers who put all the major pressies and purchases on the right card and consider paying full price for a flight a very last resort—we've just found your next little points boost to help fast track that next dreamy escape.

Velocity Frequent Flyer has launched an epic new Bonus Transfer campaign, giving eligible members the chance to pocket up to 20% bonus Velocity Points when transferring points from participating bank rewards programs between 14 August and 30 September 2026.

And while a bonus points offer will always get our attention, the timing of this one is particularly noteworthy. From 1 October 2026, significant changes to Australia’s card payments landscape will take effect, including the removal of card surcharges across designated card networks and reductions to interchange fee caps on domestic card transactions.

For points collectors, it marks a broader shift in Australia’s rewards landscape and a timely opportunity to check what you’re sitting on (and how you want to use it, of course).

Image credit: Renée Ardon-Coppinger

So, What’s Actually Changing?

From 1 October 2026, surcharging will be removed across eftpos, Mastercard and Visa, with American Express also announcing it will remove surcharging from the same date.

At the same time, the Reserve Bank of Australia is reducing interchange fee caps for domestic card transactions.

For rewards collectors, these changes may prompt banks and card issuers to review elements of their rewards offerings over time, potentially including earn rates, fees, bonuses or other program settings.

Exactly how each provider responds will differ, but with Velocity’s latest offer landing immediately before the new payment settings take effect, now is a particularly good time to review your points balance and transfer options.

Here’s How To Score 15% Bonus Velocity Pointsn.

Right now, participating partners include ANZ, MyCard, NAB, American Express and BOQ. Hold eligible rewards points with one of these guys, and you can be sitting pretty earning 15% bonus Velocity Points on eligible manual transfers during the campaign.

But, there’s one important detail to clock: to qualify for the 15% bonus, eligible members need to make at least one manual transfer per month during both August and September 2026. In other words, don’t transfer your entire stash in August and forget about September.

Or Score A 20% Bonus With Auto Transfer

Eligible members for this one include ANZ, MyCard, NAB or BOQ who can take things one step further. Opt into an eligible Auto Transfer during the campaign and remain opted in until 30 September 2026, and you can earn 20% bonus Velocity Points on eligible transfers.

If automatically converting your bank rewards points into Velocity Points already suits the way you collect, that extra 5% makes this option particularly worth a look.

Image credit: Kylie O'Connell 

Why This Transfer Campaign Is Worth Clocking

Bonus transfer campaigns aren't new, but the timing of this one is, with these stricter RBA reforms taking effect from 1 October 2026. The reforms don't mean your existing points suddenly change overnight, they however mark a significant shift in Australia's card payments landscape that might make it a little more tricky for those clever pointmaxxers.

So, if transferring your bank rewards points to Velocity was already on your radar, earning 15% or 20% bonus Velocity Points while doing it makes this August-to-September window seriously worth investigating.

So, Should I Transfer My Bank Points To Velocity Now?

That comes down to how you use your points.

If you were already planning to convert eligible bank rewards points into Velocity Points, this campaign gives you the opportunity to earn 15% bonus Velocity Points on eligible manual transfers or 20% on eligible Auto Transfers during the promotional period.

Unsure where you want your points to end up? As always, do that homework first. Bank rewards points can offer flexibility across different redemption options, while transferring them to Velocity means they'll become subject to Velocity's program terms and conditions.

For those already eyeing off their next Velocity redemption, though, that critical date to remember is 30 September 2026. So, if you've got a healthy bank points balance waiting in the wings, now's the time to check your eligibility, crunch the numbers and make a plan.

Image credit: Kylie O'Connell 

Head to Velocity Frequent Flyer and your participating bank rewards program for full eligibility, transfer rates and campaign terms and conditions.

This article contains general information only and does not constitute financial advice. Consider your individual circumstances and the relevant rewards program terms and conditions before transferring points.