1. Minimum redemption amount = 3,000 NAB Rewards Points. 1 Velocity Point will be earned for every 2 NAB Rewards Points transferred. All Velocity Points redemptions with Velocity Frequent Flyer are subject to availability which may be limited and are subject to Velocity Membership Terms & Conditions. The earning and redemption of NAB Rewards Points is subject to the NAB Rewards Program Terms and conditions. To redeem NAB Rewards Points for Velocity Points, individuals must be a Velocity Member. Membership of Velocity is the account holder’s responsibility and is subject to the Velocity Membership Terms & Conditions as amended from time to time. The redemption of NAB Rewards Points will be administered solely by NAB Rewards and can take up to 10 business days to transfer into the Velocity Membership Account. Once NAB Rewards Points have been redeemed for Velocity Points, they are governed by the Velocity Membership Terms & Conditions and cannot be reversed.