Prepaid Funds Over $150 Issue @ December 31st, 2018

[Nimpo]

Greetings..,

I would just appreciate some clarity.., regarding the "Prepaid Balance Over $150 at the End of 2018" issue.

Please excuse me if this is already explained elsewhere.

I've had a prepaid account for a while now.., and like many others.., have watched the balance in the account accumulate.., from lowered usage.., and also having to add funds monthly.., just to avoid losing the entire balance of funds in the account. 

Over the past while.., I have "heard"., but have not actually read anywhere via the Fido website.., email or text message to my Fido phone..., that at the end of 2018.., you will not be allowed to have a prepaid account balance over $150.., and that anything over $150.., will no longer "be available".., which.., if it is not refunded., given special circumstances of policy change initiated by Fido.., is essentially what.., exactly..?   Un-Cool.., if in fact accurate.

Or.., is there a different reality.., come December 31st, 2018..?

I currently have an Expiry Date on the balance in the account.., of @ June 25th, 2019.

So my question is..., will prepaid customers with account balances over $150 on December 31st, 2018.., be vacated of their money over the $150.., or what exactly is the un-posted policy on this matter..??  (and again, please excuse me if it "is" posted elsewhere., but I have not found it.)

If someone could kindly let me know.., it would be greatly appreciated.

Thank-You.

[Cawtau]

Hello Nimpo,

  Welcome to the community!

   It is true that there is the $150 cap for Prepaid accounts. However, the policy was changed such that balances above that amount won't be lost automatically. The information was supplied by one of the moderators (see here). It was subsequently confirmed by other moderators within that same thread. You also should note what was said by FidoNick:

The balance would have to be used up (by using your services). Once you drop below the $150 mark then you can top up again.

In order to make sure it does not expire, offers like our $50 to extend the balance by 6 months or $100 to extend by a year can be used.

  So you still have to extend expiry dates by using some of your excess balance, however once extended, the balance above the cut-off won't be lost.

Hope this helps

Cheers

[Nimpo]

Thank-you for your response.., and for the information.

So being that my Expiry Date is @ June 25, 2019.., and my Balance is just over $200 currently.., the amount over $150 will Remain in the Account on January 1, 2019  to  June 25, 2019.., and I will be able to use those surplus funds for Airtime Minutes.., until the current Expiry Date of June 25, 2019.., at which time., I will have to Extend the Expiry Date.., or.., Use Enough Airtime Minutes.., to Drop my Balance Below the $150 Cap.., is this correct..??

Thanks again for Your Time..!!

[Cawtau]

Hello again,

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@Nimpo wrote:...I will be able to use those surplus funds for Airtime Minutes.., until the current Expiry Date of June 25, 2019.., at which time., I will have to Extend the Expiry Date.., or.., Use Enough Airtime Minutes.., to Drop my Balance Below the $150 Cap.., is this correct..??

---

  After December 31st, 2018, you'll be able to use the surplus funds for any regular usage. However, you will have to extend the expiry date regardless of whether your balance is above or below the $150 cap. If your balance is above the cap, you can use some of the excess balance to extend the expiry date. If your balance is below the cap, you can top-up to extend the expiry date.

Hope this helps

Cheers

[Nimpo]

Thanks for that information.

So.., specifically regarding the December 31st, 2018 threshold.., if you have an Expiry Date sometime in 2019.., and if you have more than $150 in your account.., as in my case $200.., there will still be $200 in my account.., on January 1st, 2019..?

Then.., when "my" Expiry Date of June 25, 2019 comes along.., if the Balance is Under $150.., I can Top-Up Funds to Extend the Expiry Date., as usual.., or..., if the Balance is still Over $150.., I will have to Use Surplus Funds in Excess of $150.., to Pay $50 for 6-Months Expiry Date Extension.., or., $100 for 12-Months Expiry Date Extension..., is this accurate..??   

What if your Balance is under $150.., say $149.50.., and you Top-Up $10.., so the new Balance is $159.50.., will that be allowed.., or what is the Wiggle Room Rules in this regard..?

Please advise.., thanks again.

[FidoNick · Accepted solution]

Hey @Nimpo!

We've actually delayed the launch of the $150 cap, it will not be happening in December 2018 but later on in 2019. We have no exact date to share yet but we'll update everyone once we do

That said, we do not have the specific information yet in order to answer your question regarding a balance of $149.50. Once we're closer to the implementation then we'll have all the info.

Hope this helps!