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This autumn Microsoft will retire its MS Points system, with future transactions taking place using your local currency.
But what does this mean for gamers with Microsoft Points either sitting in their account or waiting to be redeemed?
“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,” explains an MS FAQ. “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.”
In addition, Microsoft says gamers with MS Points won’t be short-changed by the conversion to local currency.
“To make this a seamless and positive experience for our customers, we have considered many factors to ensure that the amount deposited in your Microsoft account will be of equal or greater marketplace value than your Microsoft Points.”
And don’t worry if you have stacks of MS Points still to redeem; these will be good for some time to come.
“Go ahead and redeem them!” says Microsoft. “Even after your account transitions, we’ll still accept purchased Microsoft Points Cards and codes through 2014 and for a limited time thereafter, and we’ll credit you an amount of currency equal to or greater than the Marketplace value of those points as we phase out the Microsoft Points program.”
You won’t, however, be able to transfer converted funds back to a bank account.
Source: Xbox Support
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