One4All Rigmarole

Gummomarx

The latest from One4All:

"Based on your correspondence and our review of the transaction, we would like to clarify that no fee was charged by us, no currency conversion was performed by us, no exchange rate was set or applied by us, and the payment was sent in full without any deduction. Accordingly, we are unable to identify an exchange rate applied by us or provide an explanation for any variance against prevailing market rates, as this was not within our control or remit. The conversation and the rate applied were determined by your bank. Answering your second query, the amount you received, £142.76, reflects the rate applied by your bank at the time the funds were processed. For reference, had the funds been converted using a mid-market rate on the date of processing and without any deductions, the total amount would have been approximately £169.44. Regarding the discrepancy between the rate applied and the market rates at that moment, no fees or conversations were applied on our side. The variance is likely due to your bank applying its own rate when converting the Euro funds to GBP. In addition to this, your account cannot receive SEPA payments, so the transfer was processed as a wire transaction, which may have contributed to the discrepancy. This aspect, unfortunately, is beyond our control. Our assurance, given on the 6th of January, that no fees would have been applied to this redemption remains accurate. The total value sent from our side was the full amount of the redemption. As a gesture of goodwill and in appreciation of our customers, we will issue a one-time credit equal to the missing value of this transaction, £26.68. This credit will be processed using the bank details you provided previously, and the transfer will be expedited."

Therefore, the reason for the missing £26.68 remains a mystery to both parties.

born_again

https://forums.moneysavingexpert.com/discussion/comment/81862919#Comment_81862919

FD do not take euro's so the exchange from Euro to GBP will have happened at the intermediarty bank.

TBH, I'm amazed 0ne 4 all allowed a gift card to be exchanged for cash.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/81863495#Comment_81863495

I'm even more amazed that they've stumped up the "lost" £26.68.

Maegi

https://forums.moneysavingexpert.com/discussion/comment/81862919#Comment_81862919

As the UK isn't a Eurozone member (and not a Euro denominated account) EUR is just another foreign currency that your bank will convert at their in-house EUR/GBP rate which isn't necessarily the mid-market rate.

They also mention that your account doesn't accept SEPA payments (which is inaccurate) but means that that it was via SWIFT which went through immediate banks (e.g. HSBC France) and with UK now outside the EEA, they usually take a cut as it's no longer prohibited.

Largs

This is great news, especially as it was a gift.

I predict that One4all will have a memo round first thing Monday saying their policy has changed and what they done for you will stop.