Earn 20,000 Bonus Velocity Points after Your Business Signs up to Pay.com.au & Transact $10K in Business Expenses within 30 Days

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ThePointsGuru on 23/05/2024 - 20:33 velocityfrequentflyer.com (275 clicks)
Last edited 21/06/2024 - 23:57 by 1 other user

VIRGIN20

This deal is specifically for ABN holders who have not signed up to Pay.com.au in the past.

• You need to have a Virgin Australia Business Flyer account. It's free to join.
• Sign up for pay.com.au with your ABN and link it with the Virgin Australia Business Flyer account. Use code VIRGIN20 during sign-up.
• Process $10K in business expenses through pay.com.au

This will entitle you to a 20K bonus Velocity point. Also, you will earn Payrewards as well, which can be converted to Velocity points at the ratio of 2.5:1.

Also, you get a free premium subscription to pay.com.au for 30 days after signup.

As per my calculations, you will earn 24K Velocity points by paying a fee of just $100. You can also check with your accountant whether this fee is tax deductible.

Payment Amount: $10000
Payment made via Linked bank account
PayRewards tier: 1 point per $ (Earning you a total of 10000 PayRewards which is equal to 4K Velocity points)
Fees: 1% which is equal to $100
Total Velocity points earned: 20K bonus + 4K (converted from PayRewards)
Note that you must earn PayRewards to make it an eligible transaction. So, you can't select the "No PayRewards" option.

Here is the screenshot of the calculation: https://ibb.co/XjV62Zt

Related Stores

Velocity Frequent Flyer

Marketplace

Pay.com.au

• 

  SydOzber on 23/05/2024 - 22:56

  +1

  Can this be clubbed with this offer to make it 30k points for $10k payment to ATO ?

  https://pay.com.au/government-payments/

  • 

    Charles89 on 24/05/2024 - 10:09

    +1

    I just signed up and made a payment to the ATO of $10k+.

    Will let you know if the bonuses stack.

    • 

      Charles89 on 28/05/2024 - 11:23

      My 20,000 veloclity bonus has arrived, along with 10,000 PayRewards plus 1,000 PayRewards for first time user, but there was no additional bonus, so I'm guessing it didn't stack. Or at least not yet.

      • 

        simon 84 on 29/05/2024 - 00:28

        +1

        PayRewards Points will be issued by 14th June 2024.

        • 

          SydOzber on 30/05/2024 - 11:39

          +4

          @simon 84: I didn't link my Business rewards before the $10k payment was made to the ATO. Received an email and phone call asking me to link the account as I'm eligible for the promotion. Impressed.

          Received 20k bonus points as soon as it was linked. Also confirmed by the agent on phone that the 10k bonus points(for ATO payments) will by issued on 7th June.

          There is also a 10% bonus qantas points when you transfer your pay rewards

          • 

            simon 84 on 30/05/2024 - 15:02

            @SydOzber: That is good.
            I also have received 20k Velocity already.
            Waiting 10k Pay point for ATO payments now.

          • 

            Charles89 on 31/05/2024 - 09:32

            @SydOzber: That's good to know. Too bad the transfer bonus ends before the 10k bonus is issued.

          • 

            Charles89 on 31/05/2024 - 15:04

            +1

            @SydOzber: Just received an email to say I received the 10k bonus for ATO payment. Logged into the account and it's there!
            Might as well transfer that into Qantas whilst there's bonus.

            • 

              SydOzber on 31/05/2024 - 16:01

              +1

              @Charles89: Received email confirmation too

              • 

                76F on 04/07/2024 - 21:15

                +1

                @SydOzber: They didn't honour the 10k PayRewards points for ATO payments and claimed it didn't stack with the VIRGIN20 code. Will go back to using Yak Pay since the rates are better for me.

• 

  Yuppieshrink on 24/05/2024 - 10:00

  I’d love to know this too

  I use yakpay and Sniip

  How does this aggregator stack up against them?

  • 

    Charles89 on 24/05/2024 - 10:12

    I normally use Sniip, but thought I'd try this for the additional Velocity bonus.

    It seems like once with the 1 month free premium subscription, the fee for using AMEX is lower than Sniip.

    So I ended up making another payment through pay.com.au for the balance after the $10k.

    Here are the premium rates:

    Mastercard fee of 0.80%
    Visa fee of 1.00%
    AMEX fee of 1.90%

• 

  simon 84 on 24/05/2024 - 14:37

  Why I have to pay both fees?
  Package Fee 1% = $100
  Amex merchant Fee (1.9%) = 192.09

  • 

    simon 84 on 24/05/2024 - 15:10

    Oh, I need to use "Bank Account" as payment method

    • 

      ThePointsGuru on 24/05/2024 - 15:52

      +1

      If you use AMEX, you will have to pay an additional fee, but it will also give you credit card points.
      Otherwise, you can use a bank account to minimize the fees.

      • 

        simon 84 on 24/05/2024 - 21:26

        Thank you for reply.
        Tried the 'Bank Account' way

• 

  applejack on 25/05/2024 - 15:51

  Are you able to transfer the velocity points to another account ? I have an existing velocity account but would need to make a business account for this. I have a tax bill coming up soon.

  • 

    ThePointsGuru on 25/05/2024 - 17:24

    You can transfer the points from your business account to your personal account anytime. The minimum points required to transfer is 3000

• 

  applejack on 05/07/2024 - 14:59

  Does anyone have access to a screenshot of this initial promotion ? Still waiting on the 20,000 velocity points …

  Their current offer listed on the website is only for 5,000 velocity points.

  • 

    76F on 05/07/2024 - 15:00

    I found it was directly credited to my Virgin Business account.

    • 

      dinted on 10/07/2024 - 12:46

      how long after hitting the $10k spend @76f?

      • 

        76F on 10/07/2024 - 15:09

        +1

        Payment date: 28/05/2024

        Points received: 30/05/2024

        • 

          dinted on 10/07/2024 - 16:15

          @76F: Thanks for sharing :)

  • 

    ThePointsGuru on 05/07/2024 - 17:28

    @applejack https://ibb.co/RHqDjTB

    • 

      applejack on 05/07/2024 - 20:13

      Thanks! They credited me with 20,000 pay rewards points (=8,000 velocity points). I was sure that was not what the deal said.

      • 

        ThePointsGuru on 06/07/2024 - 09:19

        Yep, the deal was 20K Velocity points if you used the code VIRGIN20 while signing up

• 

  Yuppieshrink on 06/07/2024 - 00:31

  +1

  I didn’t get it after completing the terms, they said I needed to auto convert pay rewards to virgin points for three months to get the 20,000 points

  Seems the goal posts have been moved

• 

  Yuppieshrink on 06/07/2024 - 00:44

  So I advised that I would comply with their changed conditions but that after this I wouldn’t use the platform anymore and I would actively and repeatedly discourage my medical specialist colleagues from using it at every opportunity.