It was rumored prior to E3 and then finally confirmed during E3 that Microsoft would be making the switch from their Microsoft [del]Funbucks[/del] Points system to actually using local currency to purchase virtual goods and services.
What you probably didn't know is that your unused Microsoft Points have just one year of life remaining in them once the conversion takes place. Their new and fairly handy FAQ about this move outlines what you need to know in order to ensure your Points just don't disappear into thin air.
Did you get that?
Once this update rolls out this Fall, they will convert your existing Microsoft Points to real world currency. If you do not spend that converted currency within one year, it is gone forever. Any funds added after the conversion has no expiration date.
You have been warned!
What you probably didn't know is that your unused Microsoft Points have just one year of life remaining in them once the conversion takes place. Their new and fairly handy FAQ about this move outlines what you need to know in order to ensure your Points just don't disappear into thin air.
How does this change affect me?
You will begin using local currency or an Xbox Gift Card (denominated in your local currency) to buy music, games, videos, and more from your favorite Xbox stores. When you use your existing Microsoft Points to initiate a purchase or redeem a Points card with your Microsoft account later this year, we’ll deposit into your account an amount of money equal to or greater than the marketplace value of your Microsoft Points, and your Microsoft Points will be retired. The purchased funds you deposit into your account after the transition will not expire. However, the funds we deposit into your account at the time of the transition will expire one year from the deposit date.
You will begin using local currency or an Xbox Gift Card (denominated in your local currency) to buy music, games, videos, and more from your favorite Xbox stores. When you use your existing Microsoft Points to initiate a purchase or redeem a Points card with your Microsoft account later this year, we’ll deposit into your account an amount of money equal to or greater than the marketplace value of your Microsoft Points, and your Microsoft Points will be retired. The purchased funds you deposit into your account after the transition will not expire. However, the funds we deposit into your account at the time of the transition will expire one year from the deposit date.
Did you get that?
Once this update rolls out this Fall, they will convert your existing Microsoft Points to real world currency. If you do not spend that converted currency within one year, it is gone forever. Any funds added after the conversion has no expiration date.
You have been warned!
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