Qantas and Mastercard have joined together on the Qantas Frequent Flier membership card with new in-built features such as storage of foreign currency in the card, cash withdrawal worldwide through ATMs and earning of points on spending in Australia and overseas.
The card’s Qantas Cash functionality allows members to load funds with a choice of up to ten different currencies and lock in exchange rates.
This is similar to the Global Wallet card offered by Qantas rival Virgin Australia in partnership with Visa.
However, Qantas’ card allows storage of money in all of the supported ten currencies at a time. Virgin Australia’s Global Wallet stores money in only four of the supported 10 currencies.
Currencies supported by Qantas Cash are the US Dollar, Australian Dollar, Canadian Dollar, Euro, Hong Kong Dollar, Japanese Yen, New Zealand Dollar, Pound Sterling, Singapore Dollar and Thai Baht.
Qantas Cash allows users to make purchases at any outlet where MasterCard is accepted and earn points on all eligible spends at a rate of 1 Qantas Point per $1 spent in foreign currency or 1 Qantas Point per $2 spent in Australian dollars.