Fido Has Given Away $500 Million Fido Dollars to Customers [VIDEO]

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The Fido Dollars Rewards program is celebrating its 10 year anniversary and the carrier has announced to date it has given away $500 million Fido Dollars to its customers.

Fido Dollars give customers a small percentage back (4%; previously was 5%) every month on their bill, which they can accumulate and use towards a new phone, add-ons and travel packs (prepaid customers can use dollars towards airtime). Each Fido Dollar is equivalent to $1.

The Fido Dollars program has been used by many to save up and upgrade to a new phone for ‘free’. How many Fido Dollars have you accumulated so far?

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  • Tim

    $500 million in fido rewards generated from 5% of each user’s bill would mean that in the last 10 years Fido has generated $10 billion in revenue. Sounds about right. The figure doesn’t seem to mention rewards that weren’t redeemed either. I once cancelled my Fido account for awhile when I left the country and ended up forfeiting about $100 in fido dollars. Also worth noting is that even if all the dollars were redeemed, using them for trial services (e.g. 2 months of visual voicemail) likely only nets Fido more money in the end when people forget to cancel the add on or willfully keep it. It also doesn’t cost Fido dollar for dollar when they’re applied to hardware, which they would buy at varying wholesale rates.

    Overall, I bet this rewards program has only impact Fido’s bottom line by roughly two or three percent, an investment they likely recoup and exceed by attracting a certain percentage of subscribers on the basis of it’s perceived added value.

    I’m not saying it sucks, it’s nice to get some purchasing power back, but there’s no altruism going on here.

  • ChrisShield5

    I think it’s a good program compared to most. I’ve actually used my Fido dollars to get new devices. Some grocery stores have literally given me a lemon for 500 points ($500).