Post Office Travel Money Card Leaves Holidaymakers Stranded
The Post Office Travel Money Card left thousands of holidaymakers without a means to make purchases when it stopped working in February.
On February 14th this year, all Post Office Travel Money Cards were cancelled, leaving many customers abroad without a card, the Mail Online reported.
Now the Post Office is coming under further scrutiny by refunding these customers with a poor exchange rate. Customers are complaining the Post Office is refunding them the money that was left on their cancelled card in Sterling at a bad exchange rate.
Travel Money Cards are used by holidaymakers who want to take their money abroad without the need for traveller’s cheques, or racking up high charges on their credit cards.
The card users load their money onto the card in the currency they require, at the exchange rate on the day they bought the money. This exchange rate does not change, even if the money on the card is used on a day when the rate is lower or higher than before.
Travel Money Cards enable holidaymakers to withdraw cash from cash machines, and make purchases in stores and restaurants, as they would with any other debit or credit card.
According to a customer, it takes eight weeks for the Post Office to deal with complaints, by which time it will be too late before she leaves for her holiday.
“The conversion rates used for customer refunds were based on the buy and sell rates offered by the Post Office on March 14 2011,” a Post Office spokeswoman told the Mail Online.
She continued to explain about 96 percent of the total balances which were cancelled on the cards have been automatically refunded.
There are many travel money card providers on the market, so holidaymakers considering using this method of taking their money abroad may find a suitable alternative to the Post Office product.
The Escape Travel Money Card by Phones 4 U is a good option for example, it is free to make purchases with, and can be used to load Euros onto, as long as the traveller loads a minimum of £9.99. There are no monthly or transaction fees and use of ATM costs from £0.99 to £2.00 a time.