Which Bank Points Transfer Where: The Master Matrix for Australian Cards
By Craig McNamara · Published on 26 July 2026
I've now written a stack of posts about individual transfer paths — Amex to Velocity, bank points to Qantas, Velocity to KrisFlyer. This is the post that ties them together: every bank reward program I track, and where its points can actually go.
The rates below come from my transfer rate data, the same table that powers the calculator on that page. The minimums and processing times come from the programs' own pages, which I've linked as we go.
The master matrix
| Program | → Qantas | → Velocity | → KrisFlyer | → Other |
|---|---|---|---|---|
| Amex Membership Rewards (Ascent Premium) | 2 : 1 | 2 : 1 | 3 : 1 | many airline partners |
| ANZ Rewards | — | 2 : 1 | 3 : 1 | — |
| Westpac Altitude Rewards | — | 3 : 1* | 3 : 1 | — |
| NAB Rewards | — | 2 : 1 | 3 : 1 | Air NZ Airpoints |
| St.George Amplify Rewards | — | 2 : 1 | 3 : 1 | — |
| Bank of Melbourne Amplify | — | 2 : 1 | 3 : 1 | — |
| Citi Rewards | — | 2 : 1 | 2.5 : 1 | — |
| Suncorp Rewards | — | 2 : 1 | 2.5 : 1 | — |
| HSBC Rewards | — | 2 : 1* | 1,000 : 800 | — |
| MyCard Rewards | — | 2 : 1 | — | Flybuys 1 : 1 |
| Velocity | — | — | 1.55 : 1 | — |
| KrisFlyer | — | 1.55 : 1 | — | — |
* Not in my rate table yet — these two ratios come straight from the terms on Velocity's own transfer page: 1 Velocity Point per 3 Altitude Points, and 1 Velocity Point per 2 HSBC points (HSBC Premier and Platinum cards only).
Three things jump out of that table:
- The Qantas column is nearly empty. One path — Amex.
- Almost everything flows into Velocity. It's the default destination for Australian flexible points.
- Velocity and KrisFlyer connect to each other, which turns Velocity into a bridge to Singapore Airlines.
Why the Qantas column is empty
No major bank's flexible program — not ANZ, not Westpac, not NAB, not the Amplify banks, not Citi — will send points to Qantas. The banks handle Qantas differently: they sell you a separate Qantas version of the card that earns Qantas Points directly on eligible purchases, straight into your frequent flyer account. You choose Qantas at application time, not transfer time.
The one exception is Amex Membership Rewards on the Ascent Premium tier, which converts at 2 : 1. I've covered that whole story — and the direct-earn alternative — in how to transfer bank points to Qantas. The current direct-earn Qantas offers live on the Qantas cards page.
Per-program notes and quirks
Everything below is from the official program pages, mostly Velocity's how-to-transfer page, which spells out each bank's minimums and processing times in its terms.
Amex Membership Rewards. The most flexible balance in the country: Qantas 2 : 1, Velocity 2 : 1 (minimum 2,000 points), KrisFlyer 3 : 1, plus a long tail of other airlines. Velocity transfers take up to 1 business day — the fastest of any bank here. KrisFlyer wasn't always 3 : 1: Amex has repriced airline partners before (the April 2019 changes doubled the cost of most partners in one hit), and did it again to a band of secondary partners in December 2025. Full details in transferring Amex points to Velocity and Amex to KrisFlyer.
ANZ Rewards. 2 : 1 to Velocity with a 2,000-point minimum, then multiples of 2; up to 5 business days. KrisFlyer is 3 : 1 (1,500 ANZ points → 500 miles). ANZ also supports auto-redemption — points sweep to Velocity monthly, quarterly, or less often.
Westpac Altitude. My table has the KrisFlyer leg at 3 : 1 (3,000-point minimum). The Velocity leg lives in Velocity's own terms rather than my table: 1 Velocity Point per 3 Altitude Points, minimum 3,000 points in one transaction, then multiples of 500, and allow 3 business days.
NAB Rewards. 2 : 1 to Velocity and 3 : 1 to KrisFlyer, both with a 3,000-point minimum, straight from NAB's own partner page (3,000 NAB points = 1,500 Velocity Points or 1,000 KrisFlyer miles). NAB also transfers to Air New Zealand Airpoints, and its Asia Miles option disappears from 27 April 2026 — a reminder that partner lists shrink without much warning.
St.George / Bank of Melbourne / BankSA Amplify. All the same program under Westpac's brands: 2 : 1 to Velocity (minimum 3,000 points, then multiples of 500, up to 3 business days) and 3 : 1 to KrisFlyer.
Citi Rewards and Suncorp. Both 2 : 1 to Velocity and 2.5 : 1 to KrisFlyer — the worst KrisFlyer ratios of the majors. Two traps: Suncorp won't move anything under 25,000 points, and Velocity's terms allow Citi transfers up to 28 days to land. Don't start a Citi transfer the week you want to book.
HSBC Rewards. The oddball. My table's KrisFlyer leg runs at 1,000 : 800 — effectively 1.25 : 1, the best KrisFlyer rate of any program here — via the Star Alliance rewards portal rather than the bank's own site. Velocity's page also lists HSBC Premier and Platinum cards at 1 Velocity Point per 2 HSBC points, in blocks of 5,000 or 10,000.
MyCard Rewards (the old Citi white-label business). MyCard's own transfer page confirms exactly two destinations: Velocity and Flybuys. My table has them at 2 : 1 and 1 : 1 respectively, both with a 2,000-point minimum.
CommBank. Not in the table because CommBank gutted its Awards transfer partners — the story is in my post on the 2025 changes.
The Velocity ↔ KrisFlyer bridge
The bottom two rows are the interesting structural feature: Velocity and KrisFlyer transfer into each other at 1.55 : 1, with a 5,000-point minimum each way. That means any program with a Velocity leg has an indirect route to Singapore Airlines — bank → Velocity → KrisFlyer — even if it has no KrisFlyer leg of its own (or a bad one).
Each hop loses value, so the direct KrisFlyer leg usually wins where one exists. When the bridge is worth it, and when it isn't, is the whole subject of my Velocity to KrisFlyer guide. The transfer calculator chains the legs for you and shows which route ends up with more miles.
Rules I follow regardless of program
- Don't transfer until you have a redemption in mind. Bank points are the flexible form; every transfer is one-way and closes doors.
- Watch the minimums. They range from 1,500 points (ANZ → KrisFlyer) to 25,000 (Suncorp) — a small balance may simply be stuck.
- Allow for processing time. Officially anywhere from 1 business day (Amex) to 28 days (Citi) — and Velocity's terms give the NAB-administered Suncorp transfers up to 28 business days (Card Services gets the same plain 28-day window as Citi). Never transfer the night before an award you're watching.
- Time the Velocity leg to a transfer bonus if you can. Velocity runs bank-transfer bonuses roughly twice a year; the mechanics are in transferring bank points to Velocity.
- Re-check the rate at the moment you transfer. Ratios get repriced — always downward. The live table is where I keep the current numbers.
Short version: Velocity is where Australian bank points go, Qantas is a decision you make when you apply for the card, and KrisFlyer is reachable from almost anywhere — directly or over the Velocity bridge — if you mind the ratios.
