Exchange Rates for Certs & Gift Cards

 
Old Mar 22, 15, 12:45 pm
  #1  
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Exchange Rates for Certs & Gift Cards

Is there a consistent Fairmont policy in respect to rate conversions?
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Old Mar 22, 15, 3:24 pm
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Gift cards, yes. It's handled automatically by the electronic GC terminals, and converts to the local currency using the exchange provided by Oanda.

Certificates, no. There is an official policy, but it doesn't seem to be consistently applied. Certificates are generally in USD, and are to be converted to the local currency using the posted exchange rate (normally not a very favourable rate) by the hotel on the day.
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Old Mar 31, 15, 3:37 pm
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Real world example from Whistler last week: I redeemed a Plat dining cert and they only gave me the hotel posted rate of 1.19. I also redeemed a $50USD e-gift card, but it was processed at the payment terminal and came through at $62.37CAD (for a rate of 1.2474).
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Old Mar 31, 15, 3:57 pm
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I was going to redeem a two $25 certs at the Savoy recently, but when they told me they'd credit them for a total of 24 GBP, I decided to save them for US usage.
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Old Mar 31, 15, 9:27 pm
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Originally Posted by laner View Post
Real world example from Whistler last week: I redeemed a Plat dining cert and they only gave me the hotel posted rate of 1.19.
At least they did not give you just 25 CAD...
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Old Apr 6, 15, 9:00 am
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Originally Posted by laner View Post
Real world example from Whistler last week: I redeemed a Plat dining cert and they only gave me the hotel posted rate of 1.19. I also redeemed a $50USD e-gift card, but it was processed at the payment terminal and came through at $62.37CAD (for a rate of 1.2474).

I'm not sure what you mean by payment terminal. Did you apply your cert at the restaurant when paying your bill, rather than the hotel bill at check-out?
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Old Apr 6, 15, 9:02 am
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[QUOTE=laner;24596778]Real world example from Whistler last week: I redeemed a Plat dining cert and they only gave me the hotel posted rate of 1.19.

I had a similar experience at the Queen Elizabeth. The exchange offered by the hotel was $1.20.
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Old Apr 6, 15, 1:30 pm
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I noticed that the Princess Acapulco took 2 certs from my profile and 4 days later, I still have yet to receive a folio showing the transactions and certs exchange rate.

According to Oanda today, I should get 370 MXN per 25 USD certificate. With the terrible service at the property, I would not be suprised if they screw me on the exchange rate. That would be icing on the cake with them.

I will post the update when I find out as a datapoint.
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Old Apr 6, 15, 4:40 pm
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Originally Posted by PointWeasel View Post
I noticed that the Princess Acapulco took 2 certs from my profile and 4 days later, I still have yet to receive a folio showing the transactions and certs exchange rate.

According to Oanda today, I should get 370 MXN per 25 USD certificate. With the terrible service at the property, I would not be suprised if they screw me on the exchange rate. That would be icing on the cake with them.

I will post the update when I find out as a datapoint.
he Oanda rate is only used on gift cards put through the GC terminal. FPC certificates are converted to the local currency using the posted exchange rate at the property; the same rate they would use if you walked up with USD cash (there's usually a sign near the front desk with the current rates). It's not going to be a good rate at any business, Fairmont hotels included. However, that's the method the T&Cs say is to be used. It's not the property screwing you... it's the FPC program that mandates the use of that poor rate. However, it is the local property screwing you when they refuse to convert it at all!
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Old Apr 7, 15, 9:04 am
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Originally Posted by znke252 View Post
I'm not sure what you mean by payment terminal. Did you apply your cert at the restaurant when paying your bill, rather than the hotel bill at check-out?
I applied both at the front desk while checking out. For the e-gift card (not the platinum dining certificate) they actually entered the certificate number into the debit/credit card terminal behind the desk, and the $50USD was converted at market rates. As CanadaDH noted above, this is in contrast to the platinum dining certificates, which are converted at the hotel's posted exchange rate.
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Old Apr 7, 15, 10:00 am
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Originally Posted by laner View Post
...this is in contrast to the platinum dining certificates, which are converted at the hotel's posted exchange rate.
YMMV. Some properties are more honest than others in this regard, IMHO.

25 US Dollar equals
372.94 Mexican Peso
(today's exchange rate)

If the hotel offers a poor exchange rate, not all but many do, then I will get something along the lines of:

25 US Dollar equals
295 Mexican Peso

I will post once I receive my actual folio.
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Old Apr 19, 15, 2:17 pm
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Originally Posted by Yul_voyager View Post
At least they did not give you just 25 CAD...
Front desk woman at the Presidents Club counter at the Royal York today insisted backwards and forwards that the certs were $25 CAD. I showed her the Fairmont Presidents Club website where it says "$25 US" clearly; she printed out my certificates page and it only says $25 and no currency is specified. She refused to apply the exchange and said that they're worth $25 CAD in Canada
.

I don't think I've ever had the exchange rate applied at a Canadian Fairmont. I didn't think about it until I saw this thread. In the not so distant past, with CAD close to USD, it wasn't a huge deal, but there's more of a difference at the moment.
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