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The Valet Key will only allow the MINI to go a certain distance, so the valets don't go joy-riding in your ride, then it will stop allowing operation of the MINI!
This is total nonsense, and I suggest that your Motoring Advisor was an imposter. Probably just some high school kid in chinos who likes to play with the cars.
The valet key (fat key w/o remote button) works just fine and just as well as the real key. Mine did at least until certain members of the family lost it and must now beg for my real key or use the temporary plastic one. Said temporary key, btw, works fine too...but obviously could break if used by the excessively hamfisted.