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..?

 

[jonboixxx]

Anyone else had issues getting their redeemed gift cards? I've received 8 out of 9 but nothing for over a week now. Completed contact form yesterday to query with Velocity.

Deliveries have been sporadic. I've received about 100. About 20 to go, plus some other junk I ordered. I did receive some GC last week.

 

[HappyFlyerFamily]

Considering this is a Virgin frequent flyer forum would not saving the company be a members first choice.

Being human nature, I think only saving the company (Velocity, not Virgin) until members can get their points redeemed fairly would be of interest to members.

of course the members are not responsible for such a loss to the company, the management are... but for those that say redeeming points will lead to a cash drain, that it is true to a small extent

The problem is how the members can save this company? I dont see much sense in asking the members to save a company, shouldnt that be the administrator's responsibility?

Agree with this - Velocity members are not responsible for saving Virgin.

Being from a family that lost heaps of points from Ansett, I have sympathy for all members with unredeemed points.

If it’s true that Velocity has cash in trust to support its points balances, then that’s great.

But now someone (beside noting who signed the email, not sure who because Velocity was not meant to be under administration) has devised a way for this Velocity cash to be released to Virgin under the guise of possible flight redemptions. And try to force the issue for member to ”choose” (ie no other redemption choice, resuming expiry of points, lots of rudimentary refund promises - which Velocity may ultimately have to pay for out of its pocket anyway in the worst case scenario of all flight redemptions cancelled/not honoured by Virgin 2) to validate the cash release to Virgin 1. And in reality all to fix Virgin’s reported/alleged/pending cash crisis.

PS By the way, I think rewards store redemptions probably saved Velocity some money in a roundabout way. If say the cash liability was 1 cent per point, then almost all reward store redemptions are less than that rate.

 

[Dee#]

Definately not booking anything with my points remaining til I see how this all pans out. Could just be throwing them into a bottomless pit. Also I want to go Perth-Darwin. Nothing there.

 

[Trin Trin]

Got my Dyson fan delivered yesterday (Saturday) by AusPost. Ordered 16/4.

 

[AIRwin]

Got my Dyson fan delivered yesterday (Saturday) by AusPost. Ordered 16/4.

In time for next summer...

 

[neljelpoo]

I still was not sure if it would/had worked until today. Another 3 gift cards arrived today - presumably from my bulk order of 21 consecutive gift cards on the 15th..

Did you have all 21 in the one order or just 1 per transaction x 21 times?

On a side note, I've received 4 GC so far up until 14/4. still waiting my 5 orders from 15/4 to 19/4.

 

[jakeseven7]

Being human nature, I think only saving the company (Velocity, not Virgin) until members can get their points redeemed fairly would be of interest to members.



Agree with this - Velocity members are not responsible for saving Virgin.

Being from a family that lost heaps of points from Ansett, I have sympathy for all members with unredeemed points.

If it’s true that Velocity has cash in trust to support its points balances, then that’s great.

But now someone (beside noting who signed the email, not sure who because Velocity was not meant to be under administration) has devised a way for this Velocity cash to be released to Virgin under the guise of possible flight redemptions. And try to force the issue for member to ”choose” (ie no other redemption choice, resuming expiry of points, lots of rudimentary refund promises - which Velocity may ultimately have to pay for out of its pocket anyway in the worst case scenario of all flight redemptions cancelled/not honoured by Virgin 2) to validate the cash release to Virgin 1. And in reality all to fix Virgin’s reported/alleged/pending cash crisis.

It is pretty disgusting conduct and honestly making me feel less and less like I would even want to support a reincarnated VA2 in the future.

 

[fergal]

Did you have all 21 in the one order or just 1 per transaction x 21 times?

On a side note, I've received 4 GC so far up until 14/4. still waiting my 5 orders from 15/4 to 19/4.

Yeah 1 per transaction 21 times in a row! Still waiting on 18 of them.

 

[Trin Trin]

In time for next summer...

It's Hot+Cold

 

[HappyFlyerFamily]

I’ll also start a new thread but status match offer by Qatar for those who might be interested.

https://www.qatarairways.com/en/Privilege-Club/tier-match.html

Applicable to Velocity and other specified programs - might be a good way back into OneWorld.

 

[maia200]

I’ll also start a new thread but status match offer by Qatar for those who might be interested.

https://www.qatarairways.com/en/Privilege-Club/tier-match.html

Applicable to Velocity and other specified programs - might be a good way back into OneWorld.

There is another thread which has been posted with the same information that is being used

Post automatically merged: May 18, 2020

 

[fergal]

All gift cards arrived today (ordered 13-15th). What I save on the clubs ill probably lose on the divorce

 

[inMotion]

Just received a bulk mail of 14 gift cards ordered between 09/04-16/04

 

[Mexpirate]

I received today a dyson vacuum ordered very early hours of 21/4 when the store was barely functional, (I'm in WA.)

has to be getting to the end of the orders now surely? with that reduced workload I'm sure toaster sales can resume any day now so I can buy some more cough I don't need with the remaining 190,000 points

 

[jakeseven7]

I received today a dyson vacuum ordered very early hours of 21/4 when the store was barely functional, (I'm in WA.)

has to be getting to the end of the orders now surely? with that reduced workload I'm sure toaster sales can resume any day now so I can buy some more cough I don't need with the remaining 190,000 points

Hope the Velocity store reopens soon foryou....

 

[makiaa]

Wow. I ordered from Popink and Harvey Norman on 18/4. Only info I got was Harvey Norman fulfilment emailed to say the colour I wanted as out of stock and would I take another one. I said yes, but still no visibility to when or if I'll receive either item this month LOL

 

[tomlee1986]

Wow. I ordered from Popink and Harvey Norman on 18/4. Only info I got was Harvey Norman fulfilment emailed to say the colour I wanted as out of stock and would I take another one. I said yes, but still no visibility to when or if I'll receive either item this month LOL

May i ask what you ordered?

 

[p--and--t]

Saw a media announcement the store planned to reopen 1st September - how accurate, don't know.

 

[cumagutsa]

Yippee ! My third and final GC arrived today. So now have all my purchases. Hoping everyone else gets there’s.
looks like velocity is honouring all redemptions.
cheers to all.

 

[jakeseven7]

Saw a media announcement the store planned to reopen 1st September - how accurate, don't know.

That is a very long time in the schemes of what is happening to VA at the moment....