HMV Not Accepting Vouchers - Surely This Is Fraud

retiredin2011

I would rather give vouchers than cash - if someone gives me cash - I would probably save it or spend it on normal everyday stuff so it doesn't seem like a present.

When I retired I was given £100 of Dobbies Garden Centre vouchers.

Every single thing I wanted to buy was cheaper elsewhere.

WestonDave

Catch 22 though - without the cash from selling vouchers before Christmas, they may well have gone under before now. The directors responsibilities are to shareholders to maximise their value not to consumers beyond the provisions of consumer law. So the directors have acted correctly - if people don't like the way insolvency law works with prepaid vouchers (or hamper schemes) then they need to lobby for a change so that maybe funds have to be ringfenced until actually spent.

pelirocco

marvin wrote: »

They could at least make sure that money is held in a separate account until the money is spent in store then it could be transferred into the companies cash account.

It would be good to see the end of store specific gift vouchers unless there is protection put in place for this money. It is after all just a contract to deliver something in the future and until that is delivered the contract is not complete

You have a point , but it would probably be seen as paying out to a preferential creditor .

There is a huge thread on here concerncerning Crown Currency Exchange , it still hasnt been decided whether the people who paid money into CCE's bank account after the company was declared insolvent should be refunded , so woldnt hold out any hope of vouchers being paid out .

It could be argued that the contract ( for want of a better word) was completed on exchange of vouchers for cash

railbuff

lazer wrote: »

I would rather give vouchers than cash - if someone gives me cash - I would probably save it or spend it on normal everyday stuff so it doesn't seem like a present.
Vouchers - I will actually go and spend them and I know everytime I look at the thing I bought that I bought that with a lvoely gift voucher from xxxx.

Cash as a gift is thoughtless - vouchers at least you have actually made the effort to go to the shops and buy something.

If you choose the shop wisely they should be safe enough

then give High Street/Love2shop Vouchers they can be used at 100s of retailers or one of these pre-paid credit cards

led4home

Crikey, some interesting answers from those who are devoid of sympathy. Almost edging on unhelpful and just an excuse to be self righteous without actually contributing positively to answering the question. Love those "you've been an idiot and I told you so" type people!

I do feel sorry for those with vouchers and appreciate that giving vouchers is much better than handing over some dirty grubby notes. I understand why you would prefer to do this and are thinking about giving a nice present rather than the pro's and con's of their future validity and whether that particular company will cease to trade in a months time!!

What HMV has done is definitely unjust but perfectly legal im afraid. If you purchased the vouchers using a credit card, it may well be worth contacting your bank to see if they can help?

I have a useless voucher card too but only for a small amount. I would have avoided having it but they wouldn't refund back on to my bank card for returned goods and "had" to issue a HMV card.

A really poor show all round and I hope that those who have received these cards can recoup some money as it rather puts a downer on Xmas if you received a present that isnt worth anything!

Hintza

spacey2012 wrote: »

I have never understood gift vouchers ?
Unless they offer a huge discount, surely the "Bank of England Version" is much more flexible.

If you just give youngsters cash it normally is popped in to the drinking fund!

But I agree you have to have your finger on the pulse!.

qetu1357

led4home wrote: »

Crikey, some interesting answers from those who are devoid of sympathy. Almost edging on unhelpful and just an excuse to be self righteous without actually contributing positively to answering the question. Love those "you've been an idiot and I told you so" type people!

I do feel sorry for those with vouchers and appreciate that giving vouchers is much better than handing over some dirty grubby notes. I understand why you would prefer to do this and are thinking about giving a nice present rather than the pro's and con's of their future validity and whether that particular company will cease to trade in a months time!!

What HMV has done is definitely unjust but perfectly legal im afraid. If you purchased the vouchers using a credit card, it may well be worth contacting your bank to see if they can help?

I have a useless voucher card too but only for a small amount. I would have avoided having it but they wouldn't refund back on to my bank card for returned goods and "had" to issue a HMV card.

A really poor show all round and I hope that those who have received these cards can recoup some money as it rather puts a downer on Xmas if you received a present that isnt worth anything!

Welcome to MSE.

50% of the posters are inadequate souls just waiting for a choice to be smug, rude or unhelpful...........

The other half make up for them though.

full-time-mum

Hintza wrote: »

If you just give youngsters cash it normally is popped in to the drinking fund!

But I agree you have to have your finger on the pulse!.

Or for younger children Mum or Dad spend it. At least a mothercare/toys r us/elc voucher has to buy kid related items. It is also cheaper to send a voucher than a box of bricks!

Naf

full-time-mum wrote: »

If they knew they were in trouble then they shouldn't sell gift cards knowing they was a strong chance they weren't going to honour them.

They didn't know anything. A business isn't under 'till it's under, and they will have been trying (and hoping) to raise further funds &/ revenue over Christmas to save themselves.

steampowered

Its a real shame, I enjoyed having a browse round HMV every now and again.

I have a lot of sympathy with people who bought gift vouchers. Unfortunately, this is what happens when the money runs out. If people got compensated for their gift vouchers then someone else (suppliers, employees or lenders) would have to lose out.