Hi fellow Ozbargainers,
I recently got my 180.000 ANZ Rewards points from matching their spending requirement on their reward cards and I transferred a 500AUD equivalent into a Woolworths egift card. I was wondering for future/current reference what is the best way, if any, to transfer the reward points into cash. I am aware ANZ Rewards offers a cashback, but this comes at a high discount, hence I would rather follow alternative paths. For example, I noticed in a Woolworth shop they offer both Visa and Mastercard prepaid cards. Can I transfer my egift card there?
thanks,
You cannot use any Woolworths Group gift cards (e.g. Woolworths, WISH, BIG W) to purchase any gift cards (including Visa and Mastercard prepaid cards) at Woolworths or BIG W. Woolworths Group has carefully set up their POS systems to specifically block anyone using digital or physical gift cards to pay for gift cards.
I had a quick look at the options you can choose from in regards to ANZ Rewards, and the only gift card that can sort of be converted to cash is Bunnings, because Bunnings has a strange gift card system.
Bunnings gift cards are only available in fixed denominations (e.g. $10, $20, $50, $100, $200 or $500), and there are no gift cards available for under $10.
You have to surrender the gift card when you pay for a transaction, and the change is given as new gift card(s) and/or cash (up to $9.95). For example, if I pay $42.95 for a transaction with a $100 gift card, I would receive a new $50 gift card and $7.05 in cash change.
The biggest issues with Bunnings gift cards is that it is contingent on you actually buying multiple items from Bunnings, as well as the fact that you will end up with a pile of gift cards as change, which is probably far too much hassle for what you’re trying to achieve.