First Choice foriegn exchange scam

37eeyore

I went to First Choice this morning to buy $200 for my son who's going on a school holiday. Needless to say, I'm not expecting him to bring any of it back. They don't charge comission but on the window of the exchange was a small poster saying that for £3.95 they will guarantee to buy back any left over foriegn money at the same price you paid for it. I didn't bother with it as I knew I didn't want it. When I got home my son wanted to see the money. The receipt was in with it and he read it and asked me what the £3.95 was for. I was annoyed to see that I had been charged for their buyback guarantee even though I hadn't asked for it. I went back to First Choice and when I looked at the poster I found some exceptionally small print, in white, on a pale blue background, that said they would automatically charge for the buyback guarantee unless you said you didn't want it. I complained and was given my money back but I still have the feeling that I was conned. :mad: The girl who served me said she had worked there for years and never asked people if they wanted it. I complained to the temporary manageress, who was only there covering, and asked how she would feel if she went into a shop to buy something and was sold an insurance policy without being asked. She assured me this doesn't happen in her branch, so hopefully other people have had more possitive experiances.
I'm surprised this is legal and want to warn people to be careful as I'm sure lots of people will have incurred this charge without noticing.

Starrystarrynight

I was offered this when I bought currency in a branch of Thomson. Seems a bit sharp to just add it. It turned out to be a good buy for us, but we didn't realise at the time that Thomson would only buy back at the rate they sold at up to a max of £200, this wasn't mentioned at the time we took up the offer.
Hope you get your money back, OP.

pompeyrich

Too late for me, cant believe they got me, thought I was so savvy. Tried all the usual places on my walk to Thomsons, they offered the best rate by a cent or two and told me all about the buy back scheme, all except the price. I only checked the ticket when I got home and couldn't be bothered to go back. They won't get my custom for currency again though.

jw5730

This may be legal but it's not right. Time the FSA had a look at First Choice and others about their practice of conning people out of money. As recently as last Saturday 19/02/2011 I fell for the same con however, on leaving the shop I double checked the rate. They promise to match the best rate you can get so being in a shopping centre with six currency exchange outlets I went round all six finishing at First Choice. I was exchanging GBP to Euro and had a best rate of 1.1615 but after the deal with First Choice the rate was actually 1.146. My last words to the teller was "I have no intention bringing any money back" and she still didn't inform me of the £3.95 buy back guarantee. Some may say it's only £3.95 but with thousands changing currency every year it's not long in becoming £3,950 and £39,500 +++++++
It's a scam and for a company and industry who promote themselves as customer focused, they should be ashamed.
I was given the £3.95 back but don't they know this will be the last time I use any First Choice currency exchange?