The verified conversion rates between Australia’s loyalty currencies, in one place: Flybuys to Velocity (2:1), Everyday Rewards to Qantas Points (2:1), ANZ Rewards to Everyday Rewards (2,700 to 2,000), Amex Membership Rewards and NAB Rewards to Velocity (both 2:1), and what each balance is worth as money off your shop.
Context for the conversions: Everyday Rewards vs Flybuys covers when converting beats taking dollars off your shop, and Velocity vs Qantas covers which side to feed. Both programs run periodic 15-25% transfer bonuses – big balances should wait for one.