No. You earn Flybuys, then they are converted into reward currencies at different rates:
If your chosen reward currency is Flybuys Points, then effectively your Flybuys convert straight into Points as you earn them (1 Flybuys = 1 Point).
However if your reward currency is Fuel Discounts or New World Dollars, then you will earn Flybuys until you hit the threshold needed to automatically earn a reward. For Fuel Discounts, every 4 Flybuys will convert into a 3c per litre Fuel Discount, and for New World Dollars, every 28 Flybuys will convert into 5 New World Dollars that are loaded onto your chosen New World Clubcard. Once Flybuys are converted into a reward currency, they can't be changed into another reward currency, or back to Flybuys.
Updated: 22 June 2020, 8:02pm