PAYBACK → Miles & More: Transfer Bonus 2026 (Guide)

Quick answer: PAYBACK points can be converted 1:1 into Miles & More miles. A transfer bonus of 20-25% comes around 1-2 times per year (typically January and June). Be sure to avoid the automatic miles subscription – it transfers in March and September, so it guarantees you miss the bonus. Always transfer manually and wait for promotions.

PAYBACK is one of the most important pillars in the miles game – at least if you want to book Lufthansa and Star Alliance flights with miles. The secret: you can convert PAYBACK points 1:1 into Miles & More miles. And with the right timing, you grab 20-25% bonus miles on top.

In this guide you’ll learn:

• How to link your PAYBACK account with Miles & More
• When the transfer bonus promotions take place
• Why you should absolutely avoid the miles subscription

PAYBACK to Miles & More: The conversion ratio

The base conversion is simple:

• 1 PAYBACK point = 1 Miles & More mile
• At least 200 points for a transfer
• No maximum (but limits during bonus promotions)

That makes PAYBACK one of the few programs where you can convert into airline miles without any loss of value.

Transfer bonus promotions: 20-25% extra miles

This is where it gets interesting. 1-2 times per year, PAYBACK and Miles & More offer transfer bonus promotions:

Period	Bonus	Minimum	Maximum
January 2026	25%	4,000 points	75,000 bonus miles
January 2025	20%	4,000 points	75,000 bonus miles
June 2025	25%	4,000 points	75,000 bonus miles
December 2024	25%	4,000 points	75,000 bonus miles

Typical promotion months: January, June, sometimes also December.

Real-world example: 25% bonus in January 2026

Here’s what a successful transfer with a bonus looks like:

In this transfer, 29,800 PAYBACK points were converted:

• 29,800 miles from the regular conversion
• 7,450 bonus miles (25% extra)
• = 37,250 miles in total

The bonus miles appear as a separate posting (“Payback Promotion”) on the Miles & More account.

What does that mean in practice?

With a 25% bonus:

• 4,000 points → 5,000 miles (instead of 4,000)
• 10,000 points → 12,500 miles (instead of 10,000)
• 50,000 points → 62,500 miles (instead of 50,000)
• 300,000 points → 375,000 miles (maximum: 75,000 bonus)

These extra miles can make the difference. 12,500 additional miles on a transfer of 50,000 points are almost enough for a European flight in economy.

Step by step: Linking PAYBACK with Miles & More

Here’s how to connect your accounts and transfer points:

1. Requirements

• PAYBACK account with at least 200 points
• Miles & More account (free at miles-and-more.com)
• Your Miles & More service card number

2. Link the accounts

1. Log in at payback.de
2. Go to “Punkte einlösen” (Redeem points) → “Weitere Einlösemöglichkeiten” (More redemption options)
3. Scroll to Miles & More (the Payback mascot with a pilot’s cap)
4. Click “zu Miles and More” (to Miles and More)
5. Enter your Miles & More service card number
6. Confirm the link

3. Transfer points manually

1. On the Miles & More partner page at PAYBACK
2. Choose “Jetzt Punkte in Meilen umwandeln” (Convert points to miles now) (NOT the subscription!)
3. Enter the desired number of points
4. Confirm the transfer

Duration: The miles are usually on your Miles & More account after 3-5 business days. During bonus promotions, it can take up to 4-6 weeks after the promotion ends.

Important: Only one M&M account per PAYBACK

You can link your Miles & More account with only one PAYBACK account. If you want to use the number with a different PAYBACK account, you first have to unlink it:

Unlinking: Mein PAYBACK (My PAYBACK) → Persönliche Daten (Personal data) → Miles & More → Ändern/Löschen (Change/Delete)

Why the miles subscription is a mistake

PAYBACK offers a “miles subscription”: twice a year (March and September), all points are automatically converted into miles.

Sounds convenient – but it’s an expensive mistake.

The problem: You miss EVERY bonus

The transfer bonus promotions (20-25% extra) typically take place in January, June, and December. But the miles subscription only transfers in March and September.

That means: You’re guaranteed to never get the bonus.

Calculation example: What you lose

You collect 50,000 PAYBACK points per year:

Method	Miles	Difference
Miles subscription (no bonus)	50,000	-
Manual with 25% bonus	62,500	+12,500

Over 5 years, that’s 62,500 lost miles – enough for a Business Class flight to New York.

No reversal possible

Once miles have been transferred, they cannot be converted back into PAYBACK points. With the subscription, you give up control entirely.

The better strategy

1. Deactivate the miles subscription (if active)
2. Set a calendar reminder for January and June
3. Transfer only during bonus promotions
4. Collect at least 4,000 points (minimum for the bonus)

Pro tip: You’ll find the exact promotion periods and a strategy for how to combine PAYBACK points with other bonus systems in the Premium Handbook. There we also show you how to collect 500,000+ points per year.

PAYBACK as a miles pillar: Why it’s worth it

For frequent flyers focused on Lufthansa, Swiss, Austrian and other Star Alliance airlines, PAYBACK is worth its weight in gold:

Advantages

• 1:1 conversion without loss of value
• Transfer bonuses (20-25% extra)
• Easy collecting on everyday purchases (EDEKA, dm, Aral)
• Free PAYBACK AMEX for extra points

The combination is what matters

PAYBACK alone won’t get you millions of miles. But as part of an overall strategy, it’s an important building block:

1. Collect PAYBACK points on everyday purchases
2. Wait for the transfer bonus
3. Convert into M&M miles
4. Combine with other sources (M&M credit card, flights)

Avoiding expiry: The right credit card

Both PAYBACK points and Miles & More miles can expire – but with the right credit card, you protect yourself automatically:

Protecting PAYBACK points from expiry

PAYBACK points expire after 36 months of inactivity. The solution: with the free PAYBACK American Express*, every card transaction counts as activity – your points practically never expire.

Protecting Miles & More miles from expiry

Miles & More miles also expire after 36 months of inactivity. With a Miles & More credit card (any of them), every transaction counts as activity. Recommendation:

• Cheap (€5.50/month): Miles & More Blue – 500 miles welcome bonus
• For collectors: Miles & More Gold – 4,000 miles welcome bonus

Tip: If you use both systems, you should have both cards – the PAYBACK AMEX for PAYBACK protection and an M&M credit card for miles protection.

When should you NOT transfer?

Sometimes transferring isn’t a good idea:

• No specific flight destination – miles can expire (with an M&M credit card, though, no problem; see above)
• Under 4,000 points – you don’t get a bonus
• No active bonus promotion – better to wait
• Use PAYBACK points directly – sometimes more sensible (e.g. fuel vouchers)

Frequently Asked Questions (FAQ)

What’s the conversion ratio from PAYBACK to Miles & More?

1:1 – 1 PAYBACK point becomes 1 Miles & More mile. During transfer bonus promotions, you get 20-25% extra, so up to 1.25 miles per point.

When are transfer bonus promotions held?

Typically 1-2 times per year, usually in January and June. The promotions last about 4 weeks and offer 20-25% bonus miles. Keep your eyes open – the announcement usually comes only a few days in advance.

What is the miles subscription, and should I use it?

The miles subscription automatically transfers all PAYBACK points to Miles & More twice a year (March and September). Recommendation: Don’t use it! With it, you’re guaranteed to miss all bonus promotions and lose thousands of miles over the years.

How long does the transfer from PAYBACK to Miles & More take?

For normal transfers: 3-5 business days. During bonus promotions, it can take up to 4-6 weeks after the promotion ends. For larger amounts (30,000+ points), there’s a manual review.

Can I transfer PAYBACK points from several accounts to one M&M account?

No. Each PAYBACK account can be linked with only one Miles & More account. You have to unlink the connection first before you can enter a new number.

Can I convert Miles & More miles back into PAYBACK points?

No. The transfer is a one-way street. Once miles have been transferred, they stay on your Miles & More account.

Is the transfer worth it without a bonus promotion?

Only if you need the miles immediately for a specific booking. Otherwise, better to wait – the next bonus promotion usually comes within 6 months.

How do I protect my miles and points from expiry?

PAYBACK points: With the free PAYBACK AMEX*, every card transaction counts as activity – points practically never expire.

Miles & More miles: With any M&M credit card (even the cheap Blue from €5.50/month), every transaction counts as activity – miles don’t expire.

Conclusion: Using PAYBACK the right way

PAYBACK to Miles & More is one of the best ways to turn everyday purchases into airline miles. The key points:

1. Avoid the miles subscription – it costs you thousands of bonus miles
2. Wait for bonus promotions – 20-25% extra is the standard
3. Collect at least 4,000 points – minimum for the bonus
4. Set a calendar reminder for January and June

PAYBACK is an important building block, but only one part of the strategy. You’ll find the complete overview of how to combine PAYBACK with AMEX, Miles & More credit cards, and other sources into a points machine in the Premium Handbook.

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More on this topic: PAYBACK points: 11 tips | AMEX Points Redemption Guide | Miles & More vs AMEX Comparison