With the roll out happening live, Microsoft’s latest update for the Xbox 360 will do away with Microsoft Points entirely in exchange for local currency formats.

With no other notable changes to your Xbox 360 console, it would seem that today’s quick patch may not be the typical Fall update that Microsoft pushes to it’s units.

Users who had a remaining balance on their Microsoft accounts don’t need to worry – your Microsoft points will be converted directly to cash in a straight forward conversion when you move on with your first purchase. Any currency converted through this process will be valid on your Microsoft account for through June 1st of 2015 as reported on Microsoft’s OFFICIAL FAQ

As a bit of a negative to this transition, users will no longer pay in the straight amounts which games are listed. Local taxes will be applied to your future purchases, making the addition of a gift card somewhat bitter sweet.

The official patch will be rolling out very soon if it is not already available in your region, as an official Microsoft representative told POLYGON.COM earlier today.

Today we started rolling out the official release of the 2013 Xbox Live Update. To ensure a stable release, this will be a gradual deployment across members and regions. Don’t panic if you don’t see an immediate update, just keep checking back in.