About a month ago, I wrote about the recent launch of the ““One4All Smart Planner” Christmas savings product”.
My concerns, like with any Christmas savings club or voucher scheme, is that you’re giving a company your money before you actually get anything from them. It’s handy money for nothing for them for a while – and you’re getting no return like you would do if you saved with a bank instead.
There’s the danger also that if the company goes bust, you’ll go to the end of the queue as an unsecured creditor where you’ll find it most unlikely that you’ll get your money back.
I did ask the people behind the One4All SmartPlanner, the Gift Voucher Shop, for some extra information on how the scheme works and what protections are in place for consumers that might be thinking of getting involved in the scheme.
I did receive a response, but some of the details I was most interested in, the protection for consumers money, was in contradiction to the answers posted in the FAQ section of the website.
I have asked for further clarification as I’m concerned that there isn’t sufficient protection in place that would allow consumer get their money back in the event of any problems with the Gift Voucher Shop company.
With that in mind, I’d hold off on getting involved in the One4All SmartPlanner product until I can get further clarification.