New Avios partner – earn Avios on foreign currency transfers with Midpoint

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You have a new way of collecting Avios: Midpoint.

What is Midpoint?

Midpoint is a UK-based platform for making international payments. They are FCA regulated and have a 5* Trustpilot ranking.

The company operates in 22 currencies covering 72 countries.  It uses segregated trust accounts at major local banks so funds are always safe.  Typical individual users are expats, international students and those with property abroad.

As of yesterday Midpoint has been added to the BA shopping and lifestyle partners page and you can collect Avios with every international money transfer you make.

To quote from the press release issued yesterday:

Chris Treadwell, Commercial Director, Avios says: “This partnership offers customers yet another way to collect Avios. Importantly, it saves them money and the hassle of going through their banks to transfer money abroad.”

How to earn Avios with Midpoint

The earning rate is 1 Avios per £10, up to an annual maximum of 100,000 Avios.  The service is available to both businesses and individuals.

Avios are being awarded into Avios Travel Rewards Programme, British Airways Executive Club, Iberia Plus, AerClub, Meridiana Club or Vueling Club accounts.  Remember that Italy’s Meridiana Club is ring-fenced from the other Avios schemes and you cannot transfer Avios in or out to combine them with other balances.

Note that if you use the Aer Lingus, Iberia or Meridiana schemes, you earn at the rate of 1 Avios per €11 transferred.

What are the fees?

A breakdown of the fees can be found here.  Midpoint claims to use midmarket exchange rates so the fee is the only expense you have – there is no FX spread.

Whilst 1 Avios per £10 may initially seem quite low, it is a decent return on your fee.  The example on their site of a £257.50 fee for transferring £50,000 would be offset by around 20% if you value the 5,000 Avios earned at £50.

Avios and Midpoint

Where to register

You can register as an individual or a business on this page of the Midpoint site.

During the registration process you must upload a proof of identity (i.e. passport) and proof of address.  Because we didn’t have this information to hand yesterday we haven’t been able to sign up and have a proper snoop around the website.

At the end of the registration process you can add your Avios account number of the programme you would like to receive the Avios into. Make sure that your last name is the same as the one registered with your Avios account in order to receive your points.

The Midpoint website is here if you want to find out more.  Note that you must use this special Midpoint / Avios page when registering to receive points.

(Want to earn more Avios?  Click here to visit our home page for the latest articles on earning and spending your Avios points and click here to see how to earn more Avios from current offers and promotions.)

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  1. I need to order small amounts of 3 different currencies for this years travels. If I put the order on our Gold Amex I know it will go through as a cash transaction. Do you then have to pay off all your balance on the card or just the bit for the cash transaction to prevent charges – I suspect all the balance. Not sure how it works. Or is this a bad idea and a dumb question. I need some spend to hit the Gold target so we can upgrade to Platinum soon.

    • I believe the priority for any payments to any card is required to be
      1) Any outstanding balance that has been statemented
      2) In descending order of interest – i.e. higher interest/charges first

      So if you have no outstanding statement balance, then yes would be sufficient to pay off just the cash costs and not all recent transactions.
      I’ve seen it explicitly in Ts&Cs somewhere but not finding it just yet…

      • Actually that’s for credit cards – don’t think cash advances attract any extra charges on gold charge card, but they also don’t generate points and probably won’t count towards a spend target.

        • Ah OK – I wondered if the charge cards would be treated differently. Thanks for your help.

      • I’m in the first month of the new Gold Card so not yet received our 1st statement. So if I buy now and pay off the cash bit immediately and before the 1st statement then I should be ok to just pay the cash bit and not the whole balance.


          This gives more detail on the priority of payments – e.g. any late payments/fixed charges and interest come before 1) and 2) mentioned before, but I presume HfP readers will be avoiding those.
          Also mentions the “no points on cash advances”

          Usually on Credit cards there’s no interest free period on cash withdrawals & higher rate, so that’s where its useful to have that priority order – as you can pay off the cash advance before lower interest purchases. But the charge cards have no interest as such.

  2. I had a right ding dong with MBNA or Creation (can’t remember) where I accidentally went £20k in credit (don’t ask !) and they wanted all manner of nonsense to get “my” money back so I drew £10k out over the counter.

    They wanted to hit me with cash withdrawal charges but backed down when I said we’d have our day in court on this.

    Equally, Creation said that if you were £20k in credit and had a £10k limit then you could only spend £10k and not £30k as their coding limited spending to your credit limit in addition to your available balance.

    • I had a similar problem with Amex, albeit smaller numbers.
      I was paying for a car on a card with insufficient credit limit so paying on the card and then paying money into the account. A payment was declined and they said that the limit was of the amount spent in a month not the amount outstanding. After some discussion they relented.

  3. OT: 250-1000 bonus avios with Braun shaving and hair removal products at Tesco Direct. Electric versions will stack with current Direct codes for money off electricals. Surprised it wasn’t on SP this week so giving it another airing here. As always with shavers, check they are not heavily discounted elsewhere before buying from Tesco.

  4. Matthew Fisher says:

    Unrelated question: anyone know roughly how long it takes for the 9000 avios from a BA Amex referral to post?

    • Sometimes credits before applicant receives the card. A few days after a successful application is the norm.

  5. nigel whitehouse says:

    I have some bad news re MidPoint. I am at the last stages of opening an account with them; but I have just found out they are not an FX broker, they are some sort of intermediary that uses an external FX broker. They don’t change your money, they only have UK domestic accounts so they need to send it overseas to change it; as a result it means delayed settlement; for example if you send them US$ 25k, you have to wire it to their UK account (wire fees) and then wait until they change the money somewhere else; that’s going to take another 3 or 4 days until you get your GBP.
    This is hopeless for anything other than very small deals..

    • You have to wire your funds to Earthport their payment and escrow provider. Unfortunately, I have only sent them EUR and GBP and have not sent them dollars. Depending on which country you select, it shows you different banks in Europe. I believe they do use different providers if there is no offsetting match. The rates have always been competitive. Their terms and conditions says 2-3 working days. But I’ve gotten my funds back within the same day. This is true with Transferwise as well, which states 2-3 working days in their T&Cs, but I’ve always got my funds back earlier with both of them. I guess it does depends on the currency you transact in and where you want the funds sent or it could be a legal liability thing. I’ve transacted six figure sums with them when I bought a property last year. They were the cheapest at that time. Shame they didn’t offer Avios back then.

      They’ve got decent reviews. at least with them you get to speak to someone unlike Transferwise, who is hopeless if there is a problem.

      With the Avios, Midpoint is actually worth considering. Their website is not as intuitive though and it is tough to navigate on the iphone. Other than that, I think the Avios points might just swing it for me.

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