Qantas Business Money international money transfers

Must knows about transferring money with Qantas Business Money

Where it's available: This IMT service is available to businesses all over Australia as part of the Qantas Business Rewards Program. Upon sign up, your access to Qantas Business Money will then depend on the successful completion of verification requirements, and meeting the criteria according to the Acceptable Terms of Use Policy. Find out more at the Qantas Business Money IMT website.

Transfer speed: Between 0-3 days. Payments can be received as quickly as one business day and will be paid in full.

Payment limits: The minimum amount you can transfer at any one time is the equivalent of $1AUD.

Transfer fees: Fees range between 1.02% to 1.60% depending on the currency you exchange. 

Qantas Business Money Products and Services

Depending on your business needs for global payments, you have several Qantas Business Money solutions to choose from.

Your options are:

• Global Accounts. Operate a global business by having up to 11 currencies in a single bank account and the ability to invoice customers in their local currency.  

• Borderless Cards. Set up virtual, multi-currency Visa Debit cards, shared by the company or designated to individual employees. Use the currencies you need to operate your business and avoid extra international conversions.

• Earn Qantas Points. Earn Qantas Points when using this IMT service; you can earn 1 Qantas Point for every $10AUD (or AUD equivalent) converted in foreign currency conversions.

• Free local transfers. Use your account like a debit card and make local transfers in Australia for free.

How to transfer money with Qantas Business Money

After you have an account set up with Qantas Business Money, there are a few steps you need to follow:

• Step 1: Select the recipient, your sending currency, the amount you want to send and the transfer method. 

• Step 2: Fill in any additional details such as the transfer date, the purpose and the transfer reference (this is to help the recipient identify the transfer when they receive it).

• Step 3: Review the details and select ‘send’.

FAQs about Qantas Business Money

Can anyone use Qantas Business Money to send money overseas?

No, this platform is meant for businesses with an ABN for the purpose of business transactions.

How is Qantas Business Money different from other IMT providers?

Unlike many IMT providers, Qantas Business Money allows you to receive payments and spend in the same currencies when you use a global account which allows you to avoid repeated, unnecessary conversion rates and fees.

You can also earn Qantas Points when using Qantas Business Money and you can then use these points on a variety of things such as flights and accommodation for your business.

Is using Qantas Business Money safe?

Yes, your funds are protected with a ring-fenced account and Qantas Business Money is powered by Airwallex which is regulated by ASIC.

How do I redeem Qantas points?

Log into your Qantas Business Rewards account (if your business is not already a member of Qantas Business Rewards, you’ll be signed up free of charge when you join Qantas Business Money. Learn more about Qantas Business Rewards here). You can book flights for your business directly from your Qantas Business Rewards account, or transfer your points to a Frequent Flyer account.