M&S gift card rip-off

Monica41

I was given an M&S gift card to the value of euro100 on Christmas day. Today in an M&S store I was told the card was worth £63.69, at a rate of £1 = euro1.57.

Surely this is a joke. Euro100 at today's rate is worth more like £97.

Why does M&S think it can get away with ripping off its customers by using such an unfavourable rate for its gift card conversions? I have emailed the company as I an interested to hear how they explain away their behaviour.

(as a newbie - apologies as I may have posted this incorrectly yesterday, have since found out how to start a new thread...)

melancholly

i guess i'm not all that surpised - yes, it's rubbish, but it's certainly not just M&S who do this kind of thing.... anything involving exchange rates gives people the opportunity to make a hefty sum....

Optimist

It says in their Terms and conditions "our systems will convert Euro Gift Card balances to Sterling using a regularly updated exchange rate." however it doesn't say the criteria they use. I would have expect it to be changed in line with their current exchange rate after all it is just like cash. Complain..

Nikkisun

At M&S exchange rates today £1 is worth €0.99 so surely €100 converts to just over £100?!

deanos

Maybe its done on the date the card was bought

LittleVoice

You might even be "in pocket" by taking a quick trip to France to spend it there.:)

Monica41

Thanks for comments. I intend to continue to bug them about this. I'll post again when I hear anything.

melancholly

hope you get somewhere with it!