Qantas Business Money

elanshin

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Just got an email from Qantas Business Reward that there's a promotion for Qantas Business Money.

It's essentially a rebranded Airwallex account for forex (and other international). Currently I already use Airwallex as my main international payment service and can say Airwallex is actually quite good and very competitive. I find it better than wise business.

Current promo is 100k Qantas business points for $50k transfer. 20k points for $10k transfer, 60k points for $30k transfer.

Regular rate is $10 transfer for 1 point.

I have inquired before and you can't use the same email if you already use Airwallex, but you can open a different account with another email. The cost for the qff points are 0.95% to use it as Qantas Money vs Airwallex.

This prices the current promo at 0.475c per point. (Normally its terrible value at 9.5c per point).

This might be useful to someone that is in the import/export business or have large purchases in foreign currency soon.
 
Is there anybody using Qantas Business Money for FX? What are the exchange rates and fees like? We use OFX who I have always found to be the cheapest - and I really don't want to go through the hassle of the application if the rates are terrible. (PS We probably send over $1m per year overseas.)
 
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