Load and spend to earn x,xx_ Qantas Points [Qantas Cash]

[TomVexille]

A bit OT but does anybody know which ATM's in Australia allow you free withdrawals from Q Cash?

It says "No domestic ATM fees charged by Qantas[SUP]^"

[/SUP]But I have no idea what the ATM Operators charge

Prepaid Card | Mastercard Travel Card | Qantas Cash

 

[Buzzard]

It says "No domestic ATM fees charged by Qantas[SUP]^"

[/SUP]But I have no idea what the ATM Operators charge

Prepaid Card | Mastercard Travel Card | Qantas Cash

And thats the catch.... I suspect that any big bank Mastercard branded ATM may not charge a fee but don't want to do the rounds to find out.

 

[TomVexille]

And thats the catch.... I suspect that any big bank Mastercard branded ATM may not charge a fee but don't want to do the rounds to find out.

Exactly. Haven't tried using it in an ATM so I couldn't tell you.

 

[get me outta here]

My email offering 5 k points for $1000 load seemed to say includes AUD, but not so on the website offer. Anyone been able to load AUD1000 on this current offer?

 

[benjy]

My email offering 5 k points for $1000 load seemed to say includes AUD, but not so on the website offer. Anyone been able to load AUD1000 on this current offer?

You'll be able to $1000 but getting the points will be a different story.

Perhaps a clarification from Red Roo might be a good idea here? Is it just for foreign currency or does it include AUD$ or are the offers varying from member to member?

 

[Princess Fiona]

You'll be able to $1000 but getting the points will be a different story.

Perhaps a clarification from Red Roo might be a good idea here? Is it just for foreign currency or does it include AUD$ or are the offers varying from member to member?

I'm pretty sure the offers are only varying between the bonus points offered. It's pretty clear on the T&C's at the bottom about it being Foreign currency.

 

[burmans]

I'm pretty sure the offers are only varying between the bonus points offered. It's pretty clear on the T&C's at the bottom about it being Foreign currency.

I agree, given the previous wording and what it is now it seems the new wording is pretty deliberate to exclude AUD.

 

[DeKa]

A bit OT but does anybody know which ATM's in Australia allow you free withdrawals from Q Cash?

Westpac - http://www.heritage.com.au/Network-ATM.aspx

 

[Cynicor]

Just went to activate and load to get these bonus points. I'm going to SIN next week so this is well timed, or so I thought.

Can't get my pin online for some reason, errors out. Then I look at the rates and see 1.1133 vs and XE rate of 1.1784!! That's piracy- even if I get 6000 points they've cost me at least 1c/point straight up.

 

[legroom]

Just went to activate and load to get these bonus points. I'm going to SIN next week so this is well timed, or so I thought.

Can't get my pin online for some reason, errors out. Then I look at the rates and see 1.1133 vs and XE rate of 1.1784!! That's piracy- even if I get 6000 points they've cost me at least 1c/point straight up.

AUD1,000 gets 694 Euro on xe.com (656 on QF)

A difference of 38 Euro (AUD54.76) which works out about ~ 0.9c per point

I changed my mind now - Not going to bothered with this QCash card

 

[Cynicor]

AUD1,000 gets 694 Euro on xe.com (656 on QF)

A difference of 38 Euro (AUD54.76) which works out about ~ 0.9c per point

I changed my mind now - Not going to bothered with this QCash card

Pin now retrieved via online system. Flaky.

I figure I will cop up to 1.5% surcharge on Amex vs other cards, but they have flexibility with the points. I think 1% for this one off bonus is the upper limit. I'd cut the card up after use but they have me stuck on that one

 

[aussieboozer]

AUD1,000 gets 694 Euro on xe.com (656 on QF)

A difference of 38 Euro (AUD54.76) which works out about ~ 0.9c per point

I changed my mind now - Not going to bothered with this QCash card

I want some GBP cash when I go there in October so loaded $1000 and got 525 pounds. Xe.com says 551 pounds but I would love to know where you can get that rate! Local forex places like Aus Post are the same rate as Qantas Cash for buying notes so I will just withdraw from an ATM when I get there and take the 5000 points.

 

[blackcat20]

I loaded up mine with USD. A few cents difference is fine in my book for a bit of a points bonus. And thats my savings done for my October trip...out of sight, out of mind and all that.

 

[Bundy Bear]

If you needed the currency in a few months then it is a nice offer from Qantas, if you don't need the currency for 3 months or more I would wait as the offer isn't that enticing, I am sure Qantas will have another promo in a few months time, but this isn't the best to earn frequent flyer miles, paying the ATO still wins.

 

[MarcB]

Just went to activate and load to get these bonus points. I'm going to SIN next week so this is well timed, or so I thought.

Can't get my pin online for some reason, errors out. Then I look at the rates and see 1.1133 vs and XE rate of 1.1784!! That's piracy- even if I get 6000 points they've cost me at least 1c/point straight up.

XE.com rates are "mid-market rates" - i.e. they are not rates you can transact at. So it's really not fair to compare XE.com rates to any retail buy/sell rate.

From the XE.com site:

The rates in our free information services are neither "buy" nor "sell" rates. Instead, they are mid-market rates derived from the mid-point between the "buy" and "sell" rates from global currency markets. Our free information services always list the mid-market rate because it indicates the value of a currency that is not weighted towards buying or selling. "Buy" and "sell" rates include overheads and profit margins that are independently set by foreign exchange providers; their rates can vary a lot and will differ from the mid-market rate, so we recommend you shop around.

 

[burmans]

XE.com rates are "mid-market rates" - i.e. they are not rates you can transact at. So it's really not fair to compare XE.com rates to any retail buy/sell rate.

From the XE.com site:

The rates in our free information services are neither "buy" nor "sell" rates. Instead, they are mid-market rates derived from the mid-point between the "buy" and "sell" rates from global currency markets. Our free information services always list the mid-market rate because it indicates the value of a currency that is not weighted towards buying or selling. "Buy" and "sell" rates include overheads and profit margins that are independently set by foreign exchange providers; their rates can vary a lot and will differ from the mid-market rate, so we recommend you shop around.

People have claimed they get the XE rate using CitiBank Debit card but if this is true cant see how except by variations in timing. Any business model which buys/sells at mid-rates will lose money because they are not making any money on the buy/sell rates but spending money on offering the service.

While banks do plenty of silly things losing on Forex is not one they are known for. Or at least not on the buy/sell spread, they have been known to lose big money betting on rate movements!

 

[markis10]

People have claimed they get the XE rate using CitiBank Debit card but if this is true cant see how except by variations in timing. Any business model which buys/sells at mid-rates will lose money because they are not making any money on the buy/sell rates but spending money on offering the service.

While banks do plenty of silly things losing on Forex is not one they are known for. Or at least not on the buy/sell spread, they have been known to lose big money betting on rate movements!

Citibank makes money on the spot market, mid market still has massive profit if your the largest trader in the world which is what Citi is.

 

[Cynicor]

XE.com rates are "mid-market rates" - i.e. they are not rates you can transact at. So it's really not fair to compare XE.com rates to any retail buy/sell rate.

From the XE.com site:

The rates in our free information services are neither "buy" nor "sell" rates. Instead, they are mid-market rates derived from the mid-point between the "buy" and "sell" rates from global currency markets. Our free information services always list the mid-market rate because it indicates the value of a currency that is not weighted towards buying or selling. "Buy" and "sell" rates include overheads and profit margins that are independently set by foreign exchange providers; their rates can vary a lot and will differ from the mid-market rate, so we recommend you shop around.

I understand the XE rates, but thank you for the link. If you have a look at the 28 degrees and citi plus threads you can see that many, many people can and have transacted at, or near to (sometimes better than) the XE rate of the day.

I am amazed that people still have their doubts about the rate we are receiving on this forum. I guess it's a good thing that the cards aren't widely known about, but if uptake was increased, maybe pressure would increase competition in this part of the market.

 

[Cynicor]

Load and spend to earn 2,500 Qantas Points [Qantas Cash]

People have claimed they get the XE rate using CitiBank Debit card but if this is true cant see how except by variations in timing. Any business model which buys/sells at mid-rates will lose money because they are not making any money on the buy/sell rates but spending money on offering the service.

While banks do plenty of silly things losing on Forex is not one they are known for. Or at least not on the buy/sell spread, they have been known to lose big money betting on rate movements!

Markis is right- plus merchant can fees help. Plus the account pays no/low interest. Being a savings account, if you keep $ in it for use then they will be making their 3% (p.a.) or so for every day it is sitting there.

 

[burmans]

I understand the XE rates, but thank you for the link. If you have a look at the 28 degrees and citi plus threads you can see that many, many people can and have transacted at, or near to (sometimes better than) the XE rate of the day.

The fact you have quoted "better than" though clearly shows we are not talking like for like. XE rates are dynamic, rates used by banks are frequently not as dynamic, so depending on when they were set and how the rate has moved in the meantime you can gain or lose on the conversion. Fair enough but thats a different thing to comparing like for like.