Last month we did an article on how you can earn Avios points when you make foreign currency transfers with Midpoint.
For this week (in fact, just five days, until Friday), Midpoint is offering 50% bonus Avios on money transfers.
This offer is primarily for existing clients and is not being aggressively promoted to new customers, but they will receive it. Midpoint has specifically given us permission to mention it.
What is Midpoint?
Midpoint is a UK-based platform for making international payments. It is FCA regulated.
The company can transfer funds to 55 countries in 25 currencies. It uses segregated trust accounts at major local banks to ensure that funds remain safe. It claims that typical individual users are expats, international students and those with property abroad.
How to earn Avios with Midpoint
The standard earning rate is 1 Avios per £10, up to an annual maximum of 100,000 Avios. I believe the cap is removable by negotation based on my past discussions with the CEO.
Until 30th April, you will receive 1.5 Avios per £10 transferred.
The service is available to both businesses and individuals.
Avios can be deposited into any Avios programme.
What are Midpoint’s fees?
Midpoint is fully transparent. You can get a quote on their home page here. Midpoint uses the interbank FX rate so the fee is the only expense you have – there is no FX spread.
Fees range from 0.3% to 0.5%, minimum £10, based on the amount transferred.
Whilst 1 Avios per £10 transferred may initially seem quite low, it is a decent return on your fee. You would pay £236 to transfer £50,000 into Euro, for example. If you value the 5,000 Avios that you would receive at £50, it offsets more than 20% of the fee. During this special offer, you would receive 7,500 Avios for a £50,000 transfer.
How do I register to earn Avios with Midpoint?
During the registration process you must upload a proof of identity (i.e. passport) and proof of address. Accounts will be approved within 15 minutes during office hours. Some additional documentation is required for business customers.
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.
You can find out more about the partnership on the British Airways lifestyle and finance partners page here, although it doesn’t mention the 50% bonus offer.
The Midpoint website is here if you want to find out more
IMPORTANT: The Midpoint home page does not mention the 50% bonus Avios offer, because it is primarily aimed at existing clients. You can see that it exists by reading their terms and conditions here and scrolling down to Clause 15.
How to earn Avios from UK credit cards (May 2021)
As a reminder, there are various ways of earning Avios from UK credit cards. Many cards also have generous sign-up bonuses.
There are two official British Airways American Express cards:
You can also get generous sign-up bonuses by applying for American Express cards which earn Membership Rewards points, such as:
Click here to read our detailed summary of all UK credit cards which earn Avios. This includes both personal and small business cards.
Do you have a small business? Until 20th May 2021, you can receive a special sign-up bonus worth 29,900 Avios with the Capital On Tap Business Rewards Visa credit card. This offer is exclusive to Head for Points readers. Click here to learn more.
(Want to earn more Avios? Click here to visit our home page for our latest articles on earning and spending your Avios points and click here to see how to earn more Avios this month from offers and promotions.)