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Velocity Global Wallet

Velocity Global Wallet

1.8 from 71 reviews

See the Best Travel Money in 2019 as rated by Australians on ProductReview.com.au.


Rip off

I recently travelled to Bali. Withdrew 100,000 Rupiah from an ATM and their fee was 20,000 Rupiah, which equates to around $2 Australian Dollars. Happy to pay. I realise their is a difference in exchange rates.... However, When I checked my Velocity statement they had charged me $115.41 (15%) Moral of the storty take extra cash and don't use a Virgin card, way too expensive.

Transparency
CurrencyAUD
Competitive Exchange Rate No

Bad Mistake...!!!

Yes, I'm an idiot. I though this would be a great idea while my partner was in the UK visiting his mum. Opened the Global account, then find out the max you can transfer is $1000. To increase your annual limit I had to send copies of Medicare, Passport, Drivers license and a utility bill to verify my address. This was all done and limit was increased. So far so good, thinking this was a good idea and a good way to earn more Velocity points. All went well, I had transferred money on 3 separate occasions without a problem. When I went to transfer more, it was declined. Strange...maybe i put in a wrong number or something so I tried again. Still declined, the wording said check my bank, so i did. Plenty of money in there so I try again to transfer funds. Account now BLOCKED. So after 7 emails, I get told to unblock the account I will need to send another copy of Passport, Bank statement, Drivers License and proof of Income (Wage slips).
Seriously ??? No way I am going through all this again. Finally, after more emails, they have put a temporary Unblock on the account so I can transfer funds back to my account and close the Global card.
Great, finally getting somewhere. I transfer the money back to my account only to be informed it will take up to 10 days to appear back in my account. WHAAAT...???? This is a joke! Biggest mistake I've made in some time. So.. if you want to spend time emailing all your personal info to someone, then take the chance you may have to do it all again AND send your pay slips after they block your account, then go ahead. Use this stupid card. But beware that when you finish your holiday or want the money back in account, take note that it will take up to TEN DAYS just to get your own money back. Complete rip off.
Never again, and I will certainly be telling anyone I know NOT to use this card.

Transparency
CurrencyGBP
Competitive Exchange Rate No

Avoid Global Wallet Debut Card

I’d been a huge fan and supporter of Global Wallet for years but today that relationship and status ends. The convenience of loading the card from a debit card linked to another account was awesome but now users are forced to load in to a foreign currency and not local currency which costs 11% fees. That is highway robbery!! Greedy!! And immoral. Goodbye virgin you’ve sold your soul to the devil. Enjoy the money but you won’t be getting mine anymore

Transparency
CurrencyAUD

We use Global Wallet...but they have much to improve

To be fair, we've used this card as our mainstay debit card for years and have enjoyed the Velocity points (they used to be higher value, not now). But 2 things of note which disappoint me with basic "back-end" business;
1. They're missing it on HUGE $$$ by not having it on Apple pay. We're still spending, just not with them.
2. Card expiry... You can't get your subsequent card until AFTER your current one has expired. If you order a replacement, it has the same expiry as the old one... Rév*, You're missing out on growth in a tough money market, guys!!! (Rév are underwriters of Global Wallet)

Transparency
CurrencyAUD

Used to be good

Don't bother with this any more, too many fees. Stick to other cards that give you the Visa or MasterCard exchange rate without taking a huge cut every time you load and exchange between currencies (Citibank, Macquarie etc).

CurrencyEUR and USD
Competitive Exchange Rate No

Deceptive Card

Useless. Scam you by taking many days to effect transfers so they earn heaps of interest on your money. e.g up to 10 business days to transfer back to your personal bank account and 5 business days to transfer funds in. In an economy with same day or overnight clearances at worst. What a sham!

Transparency
CurrencyUSD

Warning. Don’t use this card for Hotel

Be aware that using your card for hotel security will hold your funds even after you have made the final payment. Hotels will hold funds against your credit card when you check in to ensure you have money to pay them before you finally settle. The issue I just experienced while in Hawaii is that using your VGW it holds your money (debit) for many days (my experience is now greater than 7) and thus you don’t have access to your funds. In my case approx $8k that effectively I’m funding for security. Rang VGW they said the hotel has to confirm they will not draw on the pending security amount. Rang the hotels they said they would do what they could to help but one day later I’m still unsure what the heck is going on. Not happy. No control. Even my wife has US$50 dollars being held by a Westin Hotel for no reason. So my recommendation is, do not use your VGW for hotel Security.
To add to the above I found (along with many other users) the customer service to be very ordinary. Would only use for basic transactions in the future.

CurrencyUSD

Could I rate lower than 1 star...Yes definitely I could.

Ok so headed o/s for my Birthday.......took cash and loaded a low amount of money onto wallet, cautious because I have had bad experience before. Go to increase load and app fails constantly. Ring from France, e-mail and get hubby in Oz to ring. Failure and no help....have no money!!!

Transparency
CurrencyEUR
Competitive Exchange Rate No

Just - nope

Thought I'd use it to boost Velocity points. Trouble is - Global Wallet doesn't transfer points, and Velocity doesn't care. Impossible to follow up as their support is
as useful as an Ah-bra. Nothing good to say about this card at all.

Transparency
CurrencyAUD

Scam at best!!!

This is by far the worst thing you could do when you travel. Their exchange rates are very high and so you loose a heap of money every time to buy something or buy currency. Customer service does not exist, and there are fees. If you are in need of burning your money, this is the best way.

Transparency
CurrencyEUR and USD
Competitive Exchange Rate No

Dont touch with a barge pole !!!

I would give zero stars if I could .Our card got hacked $3000 gone our spending holiday money, gone via 30 transactions overnght.. there lack of customer care is pathetic . We still have 3 transactions pending ( pending for last 4 days ) and have to wait for them to clear before we can put in a dispute .what angers me is why wasn't the card blocked as so many transactions in a short time ..its rubbish . We will get our money back !!! . But I will advise anyone dont go near this card . The money was for a holiday for my 50th . Thanks to global wallet We have to use our credit cards. .. absolutely disgusted.

CurrencyGBP

Won't provide statements, keep blocking card, the worst "service"

Global Wallet will not provide transaction history statements. We've spent hours on the phone, emails, made complaints to the afca and still no statements. Worst "service", ripoff products, keepblockingcard, beware!

Competitive Exchange Rate No

Absolutely terrible their customer support team can't seem to provide a basic statement after five days.

Attempted to obtain a statement from their team. Multiple emails and phone calls later no luck. They keep missing self imposed deadlines to catch me back. Terrible customer service. Would not recommend.


After loading funds the balance dropped considerably

I loaded 593 Aussie dollars while in Australia for a trip to Europe in a month. The issue is that our last trip was to the US and the default global wallet currency was in US dollars. needless to say 8 hours after the funds were loaded,I now only have 536 Aussie dollars after the funds went from US back to Aussie dollars!!! we haven't left the house!!! The "Team" at the end of the phone told me nothing could be done. The lesson to be learned is to check the default currency in your wallet. They are happy to take your money so be aware of the seemingly irreversible transaction.

CurrencyAUD
Competitive Exchange Rate No

Avoid at all costs in regard to exchanging international currency.

They entice you with Velocity Points but it is a scam. Wife and I exchanged AUS$5000 each into Euros. We both now have -$4600 each & haven’t even gone OS yet!!

Competitive Exchange Rate No

The best way to use your money

I loaded some money into my Velocity Global Wallet Account several times and I find it easy to use my Visa Card that is linked to my card because I can buy things easily without having to worry about getting my money pinched also it is excellent if you want to travel overseas.


Rip Off with Excess Fees...fastest way to waste your holiday money

Velocity, Pre Paid, Frequent Flyer, Visa Pay Wave Card...FAIL!
I planned to go to South America, and all the forums said that ATM's were the best way to get local cash, as USD were not accepted at many smaller towns and definitely not acceptable at street markets etc.... The spiel from Velocity made it sound like the answer to my prayers, so I loaded $500AUD into my card, converted to USD as AUD is NOT widely accepted in Peru, Ecuador and Chile....Horror, when I checked my account and found only $388USD which is equivalent to $448AUD the next day!!...I had lost $52AUD just to charge this Pre Paid card......Not happy Jan. I checked my account again today, and the AUD equivalent was $454, which is only $321USD now......I suppose Velocity will quickly reduce my initial $500AUD to Zero by Christmas 2019!!
Needless to say, I wouldn't use this card overseas, for fear of more exorbitant hidden fees, and will try to spend the my credit somehow......or transfer the cash back out, if they let me!!

CurrencyUSD
Competitive Exchange Rate No

Better card available elsewhere.

I only got this card because of the BP partnership.
Was free when I started then they introduced a $1.95mth inactive fee.
I now have NO balance left as I evidently don’t use my card yet I get ALL my fuel from BP.


Absolute rip off fees

Conversion fees are ludicrous. Do not order this card. Traveled to South Africa and lost 10% of my money in currency conversion fees! The fees described are very misleading. They make it sound like there will be no conversion fees. You'd be better off just using your every day Australian bank card.

CurrencyZAR
Competitive Exchange Rate No

This card has security issues apart from other problems

I started using this card with high expectations. Soon got to know that it takes days on end for money to be transferred. I'm not even going to go into exchange rates. Then on a visit overseas, the card was swallowed up by an ATM. The replacement card took over a month to arrive. Once it arrived, I found out that someone else was trying to use the card number for some shopping. So absolute crap it is. I would never use it anywhere.

CurrencyHKD
Competitive Exchange Rate No

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Questions & Answers

Can the inactivity fee of $1.25 bring your balance into negative?
1 answer
Hi Josh. The inactivity fee on my card in Australia is $1.95mth. It has taken me to a $0 balance so no I don’t believe it goes into negative $$. If you are looking at this card for travel purposes I would not recommend it. There are better cards out there like the Westpac global card. Hope this helps, Phil.

How to withdraw money from an atm in italy?
3 answers
Make sure it is a visa atm and use credit button. Some countries like japan for example they have different arms some for domestic transactions and some for international customers.Make sure it is a visa atm and use credit button. Some countries like japan for example they have different atms some for domestic transactions and some for international customers. Recently we could not get money out at the atm and there was an error message. It turned out that the chip in the card is faulty.Thanks very much for the information, mark barnes

How do I close the card and cancel the service?
1 answer
Hi Janine, I haven't worked that out yet. We are off to Europe in Aug/Sept for 4+ weeks, so will use the funds that are left & will make sure that every last AUD & Euro is used before trying to contact Velocity Wallet to cancel the whole thing. I will also stop using the BP service stations that reward you with velocity points, as I won't ever be flying Virgin Airlines again. Will stick to Singapore Airlines & hope to be able transfer any velocity points left to their FF program. I will let you know how I go towards the end of September.

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