How to Transfer Bank Reward Points to Velocity (Almost All of Them Can)
By Craig McNamara · Published on 26 July 2026
This is the mirror of my post on transferring bank points to Qantas, and the story flips completely. For Qantas, the answer was "mostly you can't" — one Amex path and that's it. For Velocity, the answer is: almost every flexible bank program in my data has a Velocity button.
Velocity built its program around being the place bank points flow into. ANZ, NAB, St.George, Bank of Melbourne, Citi, Suncorp, MyCard, Amex — they all transfer. Here's every rate I track, the minimums that trip people up, and the two programs where I have no Velocity rate.
Every Velocity transfer rate in my data
Straight from the transfer rate data that powers this site:
| Program | → Velocity | Minimum transfer |
|---|---|---|
| Amex Membership Rewards | 2 : 1 | 2,000 points |
| ANZ Rewards | 2 : 1 | 2,000 points |
| NAB Rewards | 2 : 1 | 3,000 points |
| St.George Amplify Rewards | 2 : 1 | 3,000 points |
| Bank of Melbourne Amplify | 2 : 1 | 3,000 points |
| Citi Rewards | 2 : 1 | — |
| Suncorp Rewards | 2 : 1 | 25,000 points |
| MyCard Rewards | 2 : 1 | 2,000 points |
The pattern is impossible to miss: everything is 2:1. Two bank points become one Velocity point, across every single program. NAB publishes it as "3,000 NAB Rewards Points = 1,500 Velocity Points" on its loyalty partners page — same ratio, different framing.
That 2:1 is why a "2 points per dollar" bank card is really a 1-Velocity-point-per-dollar card. When you're comparing a flexible bank card against a direct-earn Velocity card, halve the bank card's earn rate first, then compare.
Two wrinkles in the table:
- Suncorp's 25,000-point minimum is the standout trap. Every other program lets you move a few thousand points at a time; Suncorp won't move anything until you've banked 25,000. A small balance there is stuck.
- MyCard has one card-specific exception in my data — one MyCard product converts at a worse 2.5:1 instead of the standard 2:1. If you're on MyCard (the old Citi white-label cards — see what happened when Citi became MyCard), check your specific card's rate in the portal before assuming.
The two programs with no Velocity rate in my data
HSBC Rewards has no Velocity path in my data at all. Its only airline leg is KrisFlyer, routed through the Star Alliance transfer portal at 1,000 : 800. If your points are in HSBC Rewards and you want Velocity, there's no button — the closest you get is KrisFlyer, which is a different program with a hard 3-year expiry (I covered why that matters in the Velocity to KrisFlyer guide).
Westpac Altitude Rewards is the honest asterisk. I don't have a Westpac → Velocity rate in my data — the only Altitude leg I track is KrisFlyer at 3:1. But Westpac's own Altitude Rewards page does list Velocity Frequent Flyer as a current transfer partner, alongside KrisFlyer, Air New Zealand Airpoints and Asia Miles — it just doesn't publish the conversion rate on that page. So the leg exists; check the rate inside the Altitude Rewards catalogue before you count on it.
And of course, none of the direct-earn Qantas programs are here. Points on a Qantas-branded card were never transferable to anything — they land in Qantas and stay there.
How the transfer actually works
The mechanics are similar across programs:
- Link your Velocity account in your bank's rewards portal. You need to be a member of both — ANZ, for example, requires you to be an ANZ Rewards account holder and a Velocity member before the option appears.
- Check the minimum for your leg in the table above. Suncorp holders especially.
- Transfer manually, or set up auto-transfer. Most partners support a monthly auto-sweep of your balance into Velocity — and the periodic Velocity transfer bonuses have historically paid a higher bonus rate on auto-transfers than manual ones (the cadence is covered in the KrisFlyer guide).
- Allow a few business days. ANZ quotes up to 5 business days for Velocity points to land. Don't transfer the night before you want to book a seat.
- Know that it's one-way. ANZ's terms are blunt: once redeemed for Velocity points, the transfer "cannot be reversed." That's true everywhere. Bank points can become Velocity points; Velocity points never become bank points again.
Why I leave points in the bank program until I need them
This is the direct-earn vs transferable distinction, and it's the most useful mental model in this whole topic.
A direct-earn card (a Qantas card, or a Velocity-earning card) commits you at application time. Every point lands in one airline program automatically and can never leave.
A flexible bank program keeps the decision open. Those ANZ or NAB points can become Velocity points today, KrisFlyer miles tomorrow, or gift cards if the airline programs devalue. St.George pitches Amplify exactly this way — transfer to "partners like Velocity or KrisFlyer" when you choose.
The moment you push bank points into Velocity, you've spent that optionality. So the play I use:
- Leave points in the bank program while you have no specific redemption in mind. They're stored options.
- Transfer when either (a) you've found the seat you want, or (b) a Velocity transfer bonus window opens and you know Velocity is where they're headed anyway. The bonus windows are the one time transferring early pays.
- Watch the bank program's own expiry rules — flexible points aren't immortal either, and once they expire the optionality is worth nothing. Velocity's side of the expiry equation is covered in Velocity points expiry and family pooling.
One more nuance: because every bank leg is 2:1 and the Amex → Velocity leg is also 2:1, the choice between programs isn't about the Velocity rate at all — it's about earn rates, signup bonuses and fees on the card side. Amex's program has its own quirks worth knowing before you route points this way: transferring Amex Membership Rewards to Velocity.
Where to check the live numbers
- The point transfer calculator has every rate above, kept current, and chains legs for you (bank → Velocity → KrisFlyer).
- The Velocity cards page ranks the current Velocity-earning cards — both direct-earn and flexible — by real first-year value, including whatever signup bonuses are running right now.
- For the full map of which program reaches which airline, see which bank points transfer where.
Short version: if your points are in almost any Australian bank's flexible program, Velocity is reachable at 2:1. The only real questions are when to push the button — and whether you should wait for a bonus window first.
