Fido Dollars to End in April, Redemption Deadline in July 2016
Fido has informed customers its FidoREWARDS program is coming to an end, with the last day to earn FidoDOLLARS set to take place on April 6, 2016, with the last possible day to redeem dollars set for July 6, 2016.
The notice was added to the third page of Fido customer e-bills, titled “Important notice regarding discontinuation of the FidoREWARDS program”.
Fido explains why this is happening, saying “since participation in FidoREWARDS is going down and interest in services like Spotify Premium and DAILY VICE is going up, we are phasing out our current FidoREWARDS program to refocus our efforts on creating value for you.”
The company spells out a few scenarios for month-to-month users, users on contracts and others:
1. FidoREWARDS members, if subscribed to a monthly plan as of April 6, 2016, will no longer earn dollar rewards—and be able to redeem dollars until July 6, 2016.
2. If on April 6, 2016, you’re on a term agreement that earns FidoDOLLARS, “you’ll no longer earn FidoDOLLARS as of the end of your current term,” and will be able to redeem these rewards until July 6, 2018.
3. For those on Fido plans that do not earn FidoDOLLARS, but have a balance, they will have until July 6, 2016 to redeem these dollars.
What about those people with multiple lines? Fido says “If on April 6, 2016, you have multiple lines that earn FidoDOLLARS and at least one of them is subscribed to a plan on a term agreement, each line will stop earning as set out above, however you’ll be able to redeem your accumulated FidoDOLLARS balance under the program until July 6, 2018.”
The bottom line—no matter what happens, if the redemption date passes, your FidoDOLLARS will be gone as the program will end.
Users have been able to apply accumulated FidoDOLLARS to new contracts to reduce the initial cost of smartphones. Looks like Rogers, the parent company of Fido, no longer wants this to happen as they lose out on cash up front when people are upgrading.
Last March, Fido ended the program for customers when they made changes to their plans. FidoDOLLARS allowed customers to earn 4% of their bill every month.
Are you sad to see the end of Fido dollars? How many dollars do you have accumulated so far?