Convert into Cash
How can I convert points into cash?
To convert points into cash, all you need is a PayPal account or a valid bank account. It’s super easy. As we support innovation and are inspired by PayPal which has solved many problems for people around the world in terms of security and money transfer we encourage you to use PayPal.
You simply select the number of points which you want to ‘cash out’ and the system will convert them immediately into an Australian dollar amount. Next, just select where you would like the money sent either to your PayPal or nominated bank account. Once you have provided your details and confirmed the transfer, we will deposit the funds; this may take up to 3 working days for PayPal and up to 18 hours for bank accounts. Read more about the security that we use to ensure that your bank details are 100% safe and secure.
What is the conversion rate for points into Australian dollars?
This is a stable conversion where 100 points equals $1 AUD. When cashing out your points, we will round up or down to the nearest whole dollar amount, depending on the exact number of points in your account. So for example, if you have 0.49 or 0.96 we round the number up, or if you have 0.44 or 0.94 we round the number down to the nearest dollar.
Can an international student who has returned home still convert points into cash?
Yes. If you have returned home you can simply provide your home country PayPal ID and/or bank account details. We will deposit the converted amount there. Don’t forget to change your status in the About Me section, to let us know that you are not in Australia any longer.
How is the conversion calculated if I am overseas?
As we are based in Australia, we will use the Australian dollar as our main currency. Therefore, your points will be converted into AUD initially and then the AUD amount will be converted into your home currency according to a global conversion rate.
Once points are converted into cash, how can I receive it?
The precise amount of money exchanged after conversion will be deposited into your nominated PayPal or bank account. We encourage you to use PayPal as you will get a better conversion rate.
What is so good about converting points into cash?
You get cash! The best thing is that once you have converted points into cash, you can use the money in any way you like. We have designed our software so that you can exchange for cash at any time you want and within approximately 24 hours, the money will be in your nominated account.