Originally Posted by xooz

I transferred on 02Jun as well, but only 1000 points, just to see. So far, no bonus points but the regular point transfer was ~immediate. T&Cs say "All bonus Avios earned will reflect in your Privilege Club account within 45 days from the date that Bank Rewards Points are converted into Avios or credited to your Privilege Club account", so if anyone is transferring to use immediately, you will likely have a wait for the bonus.

ETA: If anyone didn't read closely, the 40% bonus is only for transfers of 20K or greater. Under 20K gives a 20% bonus. All bonuses are per transaction, not cumulative.