Post Office travel card that picks your pocket

[TrueBlueTerrier]

The Post Office has come under fire for offering customers a poor exchange rate on prepaid travel money cards it cancelled.

Thousands of holidaymakers were left without a card to use abroad when all Post Office Travel Money Cards stopped working on February 14.

Prepaid cards allow holidaymakers to load foreign currency on to the card and then use it in shops or at cash machines to withdraw money.

Now, Post Office customers complain they are being refunded the balance on their failed cards in sterling at a poor exchange rate.

Money Mail reader Heather Gordon had €524 on her Travel Money Card for her holiday in May.

The Post Office has offered to refund her £406.20. But to buy the same amount of euros with the Post Office would cost £480.16 — meaning she would lose out on £73 by trying to replace her euros.

‘I have made a complaint, but it takes eight weeks to deal with, which will be too late for my holiday,’ she says.

A spokeswoman for the Post Office says: ‘The conversion rates used for customer refunds were based on the buy and sell rates offered by the Post Office on March 14, 2011.

‘About 96 per cent of total balances have been proactively sent out to customers. Anyone who would like to request a refund should call 0845 850 0077.’


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