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Australian Travellers weighed down by their wallets

05/06/2013

New research released today by Virgin Australia’s award-winning frequent flyer program, Velocity, shows that Australian’s wallets are weighing them down with one in five carrying three or more credit or debit cards when travelling and over a third admitting to being weighed down by cash and coins.

The survey, which canvassed the opinions of a broad cross-section of Australians , also found that currency conversion rates act as a deterrent from using cards overseas for the majority of Australians (75%). Despite theft being a large concern for Australian travellers, 37% of people prefer to carry cash with no back-up should their money be stolen.

The Eiffel Tower topped the list as the cultural landmark Australians would most like to visit (23%), beating the Empire State Building in the United States and the Big Ben in London.

It comes as Velocity Frequent Flyer prepares to launch its first travel money card, the Global Wallet in the coming months. In partnership with Visa, the new card will be the ultimate travel solution, enabling people to load money and lock in a range of exchange rates while earning Velocity Frequent Flyer Points on purchases made in Australia and around the world.

Velocity Frequent Flyer General Manager, Phil Gunter said: “We know that members don’t like to carry too many cards when they travel, so we have designed the Global Wallet to be conveniently located on one-side of the new look membership card, meaning one less card in the wallet.

“The Global Wallet is a travel money solution that will respond directly to concerns around currency conversion rates, with the ability to lock in a range of exchange rates and spend like a local at over 30 million locations in Australia and around the world, wherever Visa is accepted.”

To celebrate Australian’s passion for travel, with a record eight million overseas trips taken last year , Velocity Frequent Flyer has embarked on bold mission to build the nation’s favourite cultural landmark, the Eiffel Tower, made entirely of membership cards.

Over the next 13 days, Guinness World Record Holder and global sensation, Bryan Berg will build a 13ft replica of the Parisian landmark, using thousands of the new cards in the middle of Sydney.

Taking more than 120 hours, the freestanding house of cards structure will be the largest ever created in Australia and won’t include any tape, glue, folding or trickery of any kind – just cards.

“The Global Wallet is a travel money solution that Australian travellers can bank on by allowing you to earn Points on every dollar spent. We look forward to launching this new innovation soon”, Mr Gunter said.

Visa’s Country Manager for Australia Vipin Kalra said: “Travel remains an important priority for many Australians and this is reflected in the $6.5 billion spent overseas on Visa cards last year . This card further reduces the need to rely on cash and offers consumers choice in how they manage their travel spending.”

To see Bryan undertake one of his most technical challenges to date – Australia’s tallest card stack, visit Westfield Sydney.

Velocity Frequent Flyer is free to join, visit www.velocityrewards.com for more information.

 

About Bryan Berg

Now a worldwide sensation, Bryan has stacked cards across North America, Africa, Europe and Asia and has broken his own incredible world records on more than a dozen occasions since 1992. Starting his career as an architect, with a Master’s degree from Harvard, Bryan now combines his passion for iconic buildings with his unique cardstacking talents to recreate some of the most famous tourist spots from all over the world.


1Research conducted by Galaxy Research from 9-11 April, canvassing the opinions of 1,255 Australians aged 18-64 years.
2Australian Bureau of Statistics, Overseas Arrivals and Departures, Australia, Dec 2012.

The offer of the Global Wallet™ will be subject to regulatory requirements being satisfied. Terms and conditions and fees and charges will apply to use of the Global Wallet™. To use the Global Wallet™ functionality on your Velocity membership card, the Global Wallet™ must first be activated. The proposed issuer of the Global Wallet™ prepaid product is Cuscal Limited ABN 95 087 822 455 AFSL 244116, subject to agreements being entered into between the parties proposing to be involved in distributing the card. A Product Disclosure Statement (PDS) will be available online at www.velocityfrequentflyer.com/globalwallet once card distribution commences in the coming months, for review and acceptance by any prospective cardholder before activating the card. You should consider the PDS before making any decisions about whether the prepaid facility is appropriate for you. This release does not take account of your objectives, financial situation or needs, so you should consider whether the product is appropriate for you before acquiring it.