Is it Time to transfer/withdraw points from Velocity?

[Bibendum]

Hi All,

I need some advice from the brains trust on this forum.

I, like many on here, have hundreds of thousands of points sitting with velocity. With the current COVID-19 situation and virgins financial position I’m concerned that if the airline was declare bankruptcy points may disappear..

What’s the likelihood of this happening and should I withdraw my points by purchasing gift cards to get some cash value at what I have..?

am I making a mountain out of a mole hill.. or is there a real threat to my velocity points been wiped out..?

 

[AustraliaPoochie]

I wonder what is going to happen in the Perth airport. Qantas has its own terminal...

There is talk of merging T3 and T4 back to T1/T2 down the track, read it somewhere, I think PER airport website.
Even though QF might disagree with this.
T1 and T2 have got the rail station being built under it, so that more plus for T1 and T2 being the major terminal for PER airport.
Also, the WA govt has said they don't plan for a gate fee, or levy, for pax use of the PER airport train station, unlike SYD and BNE airports.
Edit: ah, article was on the other traveller forum, ExecutiveTraveller, but the main theme was that there is a plan to move T3 and T4 flights, back to T1 and T2, by 2025.
If allowed to link:

Here is how Perth Airport will look in 2025

New airline lounges with direct access to boarding gates, airport hotels and an automated people mover connecting domestic and international terminals – that's what Perth Airport is promising for the next decade. It's part of an ambitious $2bn upgrade which will see all terminals and airlines...

www.executivetraveller.com

 

[knagelli]

Wasn't the 12 April cut off for VA wine only? Or did I miss something.

Up to day 19 for my gift vouchers from VA.....

Post automatically merged: Apr 22, 2020

You are lucky - a lot of people aren't getting order confirmations at all for gift cards....

I had 9 different orders for GCs ( dated 8th/9th Apr) but never got any email confirming order was successful however the status on velocity store was pending.

 

[porkrind]

More assumptions supported by zero fact.

It's not an assumption, it's exactly what is coming from the vendors. I ordered an ipad on the 16th of April and got this email yesterday from Harvey Norman.

We have been advised today that Velocity will be contacting all members with outstanding existing orders placed after the 12th of April in their system over the coming days



Rest assured your order will be despatched from us when we are advised, but please allow the new expected delivery time frame instructed from Velocity to expire prior to reaching back out to us again



Please note that we are a drop ship partner only and cannot supply products from our retail store network or online platform



If your order is prior to the 12th of April or if you have recently received your reward and it has an issue or is DOA then please reply back to this address and place VEL into the subject field and a supervisor will reach out to you to action your enquiry

I have no doubt I will eventually get my item, I'd just like to know when it will be coming as it is something I actually want and if it's not coming anytime soon I would just buy one myself.

 

[Returnofthemach]

It's not an assumption, it's exactly what is coming from the vendors. I ordered an ipad on the 16th of April and got this email yesterday from Harvey Norman.

It is assumption.

The email from Harvey Norman says Velocity will contact members concerned In coming days. It goes no further than that. It does not say the order will not be fulfilled.

Mean while, Velocity has indicated they will be honouring orders which were made prior to the store being put on hold, both by messenger (screen shot posted previously in this thread) as well as allegedly verbally in an interview (I didn’t see it) last night referenced a few posts back.

Until Velocity provide clear advise as to whether or not orders made post 12 April will be fulfilled or not, everyone is just guessing.

A poorly worded email from a supplier which doesn’t really clarify anything is far from conclusive proof.

 

[theblank]

Why 12th and not as of yesterday when they took the store offline. it seems a little unfair.

Everyone is experiencing different levels of hardship as a result of Covid19 (even Celebrities and Public Servants). At times like this I like to reflect on those people who have lost their jobs, perhaps forever before I begin to wonder if my situation has been fair.

 

[Chad2020]

Everyone is experiencing different levels of hardship as a result of Covid19 (even Celebrities and Public Servants). At times like this I like to reflect on those people who have lost their jobs, perhaps forever before I begin to wonder if my situation has been fair.

I agree with you, wholeheartedly. But you're referring to larger issues that are facing our people, economy and lifestyle. My commentary is a point of view that it feels unfair as the treatment of our entitled orders pre and post 12th August doesn't seem logical (unless there is a logical reason for this). That's the comparable i'm making.

If you compare on a wider scale then you can compare us to those less fortunate, you can compare those less fortunate to people who are suffering the same but live in third world countries and so on.

For me personally, it goes without saying that if we all lose our points and Virgin and jobs could be saved - then I would be the first to give up my 700,000 points in a heartbeat!

I do sincerely hope Virgin gets saved , job losses are minimised and that there will be less uncertainty for everyone's sake!

 

[Returnofthemach]

Copy and Paste direct from Velocity Facebook page - posted 12 mins ago

Information re: Reward Store orders
Due to high demand, we’re experiencing some processing and delivery delays to orders made on our Reward Store. If you have placed an order that you have not yet received (including pending orders), please be advised that the Velocity Reward Store are working with retailers, suppliers and delivery partners to have this to you as quickly as possible. Find out more at Redemption Update

 

[tomlee1986]

Copy and Paste direct from Velocity Facebook page - posted 12 mins ago

Information re: Reward Store orders
Due to high demand, we’re experiencing some processing and delivery delays to orders made on our Reward Store. If you have placed an order that you have not yet received (including pending orders), please be advised that the Velocity Reward Store are working with retailers, suppliers and delivery partners to have this to you as quickly as possible. Find out more at Redemption Update

My gut feeling is that the "run" on miles is larger than we imagined.. with the stated high demand... I feel the financial drain is worse than expected by Virgin or Velocity

 

[jakeseven7]

My gut feeling is that the "run" on miles is larger than we imagined.. with the stated high demand... I feel the financial drain is worse than expected by Virgin or Velocity

Well when they reopen it is only going to get worse so I wonder what restrictions they will have on redemption then....

 

[tomlee1986]

Well when they reopen it is only going to get worse so I wonder what restrictions they will have on redemption then....

I have a feeling they will do anything "NOT" to reopen it to hold on to as much cash as possible... just my opinion - no insider info lol

 

[Rich]

My gut feeling is that the "run" on miles is larger than we imagined.. with the stated high demand... I feel the financial drain is worse than expected by Virgin or Velocity

I agree.
A lot have said don't worry as points are in a separate entity with accompanying cash but no one can tell us the actual cash per point set aside and Virgin did not reveal it when asked.
I would expect they would not have set aside enough cash for everyone to buy Coles vouchers or similar and this is why I asked earlier in the thread if there was say $100 per 20000 points, which would roughly cover that. At best I feel they would have enough money for the worst value redemption, but I think more likely it would be less than that.
I hope I am wrong for the sake of those with points in the bank (I spent nearly all of mine), though I would prefer the cash went to employees.

 

[Lomandriel]

Virgin chief stated in interview on 730pm last night that they will fulfill all orders. Orders ceased cos VolAdmin.
Also that all velocity points are safe as cash backed in trust account.
My fingers crossed all will work out, sure sounds like it. Guessing it'll happen just in New financial year, July.

Another thread going re Qantas points redemption. Not many redeeming, Gov would throw cash at Qantas to save'em, even though 36% or 46% foreign owned, depending what you read.

Those worried can't get reward seats, take a look, I'm QAN bronze n plenty reward seats over Xmas period now, even eastern states to Perth on A330 J class. It's within 320 days so all have access. If worried about devalue point scenario, book something now, or don't.
Just sayin'.

Yes, but that's becuase we haven't opened our restrictions yet - no one is booking travel. I don't blame them. once restrictions worldwide cease the 'norm' for reward seats will likely change for qantas award seats?

The qantas topic (i opened it) i think is preliminary and akin to Virgin before march... not an issue now but always good to 'stay tuned' given how fast moving things are.

Post automatically merged: Apr 22, 2020

More assumptions supported by zero fact.

Hence why i referenced a few other users. Some quoted some screenshots - if made up, fair enough, but you'd presume no one here would be making up screenshots and items just to troll or spread false news? One notch above facebook here on AFF i would hope.

 

[tomlee1986]

I agree.
A lot have said don't worry as points are in a separate entity with accompanying cash but no one can tell us the actual cash per point set aside and Virgin did not reveal it when asked.
I would expect they would not have set aside enough cash for everyone to buy Coles vouchers or similar and this is why I asked earlier in the thread if there was say $100 per 20000 points, which would roughly cover that. At best I feel they would have enough money for the worst value redemption, but I think more likely it would be less than that.
I hope I am wrong for the sake of those with points in the bank (I spent nearly all of mine), though I would prefer the cash went to employees.

I think you are correct... the company was thinking of the minimum - but the public would attempt to go for high value gift cards, if they cant claim gift cards or don't want to.. they will go for high value products - such as electronics especially "Apple" products!

 

[Rich]

I think you are correct... the company was thinking of the minimum - but the public would attempt to go for high value gift cards, if they cant claim gift cards or don't want to.. they will go for high value products - such as electronics especially "Apple" products!

I went for wine. I found stuff on sale to get better value, including 2 x 6 packs of wine that was cheaper than a 12 pack due to a pricing error. Sorry for not sharing, I wanted to but was hoping to see my wine shipped first.

 

[tomlee1986]

I went for wine. I found stuff on sale to get better value, including 2 x 6 packs of wine that was cheaper than a 12 pack due to a pricing error. Sorry for not sharing, I wanted to but was hoping to see my wine shipped first.

No need to be sorry - I don't drink and wine would be a popular product to do a major "run" on too - I doubt Virgin or velocity were ever prepared for this "run" on such items like wine or electronics, or even gift cards in this large scale!

 

[fseng]

Just received this 2mins ago. My order was placed on 16th April.
Your Velocity Rewards Store online order

Dear xx_

Thank you for shopping online at the Velocity Rewards Store. With our recent announcement that Points redemptions have been temporarily paused, we wanted to reach out to you to confirm your online order has been received and is being processed.

Please note, due to high demand for online rewards, as well as delays with fulfillment and postal deliveries, there may be delays in the delivery of your online rewards.

If you have questions with regards to your order, please visit here.

We thank you for your patience.

Yours sincerely,
Velocity Frequent Flyer

 

[lang_13]

Hi

Just received this email from velocity. Ordered JB gift cards on 14th and 15th. A little more optimistic now about receiving them

 

[Returnofthemach]

Hopefully we can now the debate about whether people will receive their orders placed prior to the online store being ‘paused’.

 

[SOPOOR]

Your Velocity Rewards Store online order

Dear Sopoor,

Thank you for shopping online at the Velocity Rewards Store. With our recent announcement that Points redemptions have been temporarily paused, we wanted to reach out to you to confirm your online order has been received and is being processed.

Please note, due to high demand for online rewards, as well as delays with fulfillment and postal deliveries, there may be delays in the delivery of your online rewards.

If you have questions with regards to your order, please visit here.

We thank you for your patience.

Yours sincerely,
Velocity Frequent Flyer


Mine ordered 8th April,
Just one email for all orders (gift card)

 

[Tannin]

Got the same email - gift card ordered late afternoon April 20.