Post Office dupes public

Sep 04, 2006 12 Replies

After joining the end of the queue (outside, in the street) at my local post office, I prepared myself for a long wait in line, and eventually reached the front door, to be greeted by a large banner that read. "Foreign Currency at 0% commission!" (or words to that effect). That might fool a lot of people (which I am sure is what was intended). Most people don't realise, of course, that they DO charge commission: they get it by selling currency at an inflated exchange rate. So would you say this advertisement contravenes fair trading standards?



Perhaps, now that they are making a profit again, they might start reopening the small post offices they closed down... What do you think? Any chance?



Al Deveron


No.

ForEx commission is usually based upon a min and max charge. for people changing amounts smaller than the minimum, no commission is a good deal (over the competition).

There's no connection whatsoever

tim

Doubt if it contravenes trade descriptions, but if it does it's not just the Post Office who are guilty. M&S, and those travel agents and BdeC who do not charge a direct commission and some of the banks do exactly the same.

As an aside some years ago the Post Office had a scheme whereby they would buy back your unused currency at the same exchange rate that you paid them for it, with a commission of 2%. The dear old British public preferred to go elsewhere for a no commission deal, failing to notice a

10% difference in the exchange rate in doing so. It only lasted a year or so.

I think you need a life. tran

It's what you do in middle age. Yesterday I was wondering how according to my local Council anyone 3 or over can apply for a smartcard to use Council services. I mean how can a 3 year old apply for one?

I tried to use that once, the obnoxious bint refused to take my money back, claiming that the whole thing was a figment of my imagination. I didn't have any proof and there wasn't much money involved so I didn't try taking it any further. I suppose that I was probably misinformed at the time of the first exchange by someone working from outdated memory...

James

"tim (back at home)" wrote

I always buy foreign currency at the PO, usually fairly small amounts, and all Forex's naturally have different buying/selling prices, often plus commission, which usually means a minimum charge, which is the rub, if you only want small amounts. So you have to compare price for price.

I find it easier to send some US or Australian dollars in a birthday card for my grandchildren, rather than expensive parcels.

snipped-for-privacy@my-deja.com wrote

I sell mine back to the PO for zero commission.

He asks for the large print version of the form, and fills it in with a crayon.

Thanks - you have made me smile (my coach is running 40 minutes late at the moment).

Bitstring , from the wonderful person Colin Forrester said

If it's got a pointy-clicky online interface there are several 3 years olds who could probably manage much better than many 83 year olds. 8>. Now if it requires actual handwriting, ~10% of the 'adult' population are going to be stumped.

Join the Discussion

Have something to add? Share your thoughts — no account required.

Didn't find your answer?

Ask the community — no account required