It’s upon us again. The time to close up another financial year and ensure your business is ready to grow even stronger in the next. Whether you’re looking to tap into the overseas market or you’re already well-established, Qantas Business Money is here to help with your overseas currency needs.
What is Qantas Business Money?
It’s an online payments platform, making international business payments cost-effective, simple and rewarding. Key benefits include:
Savings
Make payments across the globe and save up to 50% compared to the big banks on conversion rates.~ Hold and spend in the same currencies to avoid unnecessary conversions.
Convenience
Set up global accounts in 11 different currencies instantly, without visiting a bank branch. Make foreign currency payments in as little as one business day, with the full amount on delivery guaranteed.
Rewards
Earn 1 Qantas Point on every $1AUD equivalent you convert into foreign currencies, on all conversions starting from 1.75% fees.*
For new customers, there’s also an enticing offer if you sign up and make your first FX conversion transaction between 1 June and 31 July 2024. Read on for more details.
Offer: up to 100,000 bonus Qantas Points for new converters±
| Expiry: 31 July 2024± |
Here’s the deal – this one’s for those who are completely new to currency conversions with Qantas Business Money. Sign up for a free Qantas Business Money account and make an eligible first transaction to get a serious chunk of bonus points.
- Convert at least $25,000AUD (or AUD equivalent): 35,000 bonus Qantas Points±
- Convert at least $75,000 (or AUD equivalent): 100,000 bonus Qantas Points±
In addition, you’ll still earn the usual 1 Qantas Point per $1AUD converted*.
With both the standard earn and the bonus points, expect to walk away with anywhere from 60,000 points if you meet the $25,000AUD minimum spend. Turbocharge your account with a whopping 175,000 Qantas Points if you meet the $100,000AUD minimum spend±.
What could you do with those points?
All earned Qantas Points go into your Qantas Business Rewards Account. From there, you can use points to book flights directly from your Account, or you’re free to transfer them to any Qantas Frequent Flyer member^ (including yourself, colleagues or family members). Need some travel inspiration? Here’s what you could do with those points if you book a Classic Flight Reward:
| Route | Economy | Premium Economy | Business |
| Perth-Sydney | 18,000 pts | – | 41,500 pts |
| Melbourne-Singapore | 25,200 pts | 51,300 pts | 68,400 pts |
| Brisbane-Los Angeles | 41,900 pts | – | 108,400 pts |
| Perth-London | 51,200 pts | 94,900 pts | 126,500 pts |
| Sydney-New York | 55,200 pts | 108,400 pts | 144,500 pts |
Accurate as of June 2024. Classic Flight Rewards are available on Qantas, Jetstar and partner airlines. Seats are subject to capacity controls, availability is limited, and some flights may not have any Classic Flight Rewards available. Taxes, fees and carrier charges are payable to Qantas (excluding any amounts payable to third parties at the airport) by an Accepted Payment Card in addition to the points required on Classic Flight Reward flights. Qantas Points required and taxes, fees and carrier charges are subject to change and quoted at the time of booking. For more information, visit Classic Flight Rewards
Also read: Best uses of 150,000 Qantas Points →
You could save up to 50% on conversion rates compared to Australia’s big banks~. Funds are usually disbursed in one business day, with full payment on delivery guaranteed.
Offer T&Cs and disclaimers
General disclaimer:
Qantas Business Money is powered by Airwallex Pty Ltd (ABN 37 609 653 312, AFSL No. 487221). Your access to Qantas Business Money is arranged by Qantas as Airwallex’s authorised representative (No. 261363).
This information doesn’t take into account your objectives, financial situation, or needs. It is important for you to consider these matters and read Airwallex’s Product Disclosure Statement (PDS) before you make a decision regarding these services. You can obtain a copy of the PDS here. Applications for Qantas Business Money will be assessed by Airwallex and are subject to Airwallex’s approval. Personal information collected will be handled in accordance with the Qantas Privacy Policy and the Airwallex Privacy Policy.
A business must be a Qantas Business Rewards Member to earn Qantas Points for the business. A one-off joining fee of $89.50 applies, is inclusive of any applicable GST and may be varied by Qantas from time to time, without notice, in its absolute discretion. Membership and Qantas Points for business are offered under the Qantas Business Rewards Terms and Conditions and earning thresholds apply.
Other disclaimers:
±Eligible to Qantas Business Rewards members who make their first foreign currency conversion for their business between 3 June 2024 and 31 July 2024 (Offer Period). Points are awarded according to the total amounts converted by the member during the Offer Period as follows: 35,000 bonus Qantas Points after converting minimum $25,000AUD (or AUD equivalent), or 100,000 total bonus Qantas Points after converting minimum $75,000AUD (or AUD equivalent). Bonus points are in addition to the base 1 Qantas Point per $1AUD (or AUD equivalent) of foreign currency conversions transacted through Qantas Business Money. Bonus points will be credited to the Qantas Business Rewards account within 3 business days after the end of the Offer Period in accordance with the Qantas Business Rewards Terms and Conditions. Offer is limited to one per ABN.
*Qantas Points will be earned on the conversion amount and conversion fee. Earn 1 Qantas Point for every $1AUD equivalent of foreign currency conversions transacted through Qantas Business Money Qantas Points will be credited to the Qantas Business Rewards account within 3 business days of the conversion being completed. Offer is limited to one per ABN. These points will be credited to the Qantas Business Rewards account in accordance with the Qantas Business Rewards Terms and Conditions.
~The FX price comparison is based on comparing quoted Qantas Business Money FX rates against published USD/AUD rates of the big 4 banks in Australia (Commonwealth Bank of Australia, National Australia Bank, Westpac Banking Corporation, and Australia and New Zealand Banking Group). Learn more here.
^In order to transfer Qantas Points from a Qantas Business Rewards account to an individual’s Qantas Frequent Flyer account, the business account must have a balance of at least 3,000 Qantas Points. You must be a Qantas Frequent Flyer member to earn and redeem Qantas Points. A joining fee may apply. Membership and Qantas Points are subject to the Qantas Frequent Flyer program Terms and Conditions. We recommend you consult your accountant or tax adviser to ensure you understand possible tax implications, for example fringe benefits tax (if applicable).
Stay up to date with the latest news, reviews and guides by subscribing to Point Hacks’ email newsletter.
This article is brought to you in partnership with Qantas Business Money.
Community