26 September 2023

Gift cards now giving more time to spend

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Consumer Protection has advised people buying or receiving gift cards for Christmas this year that rules have changed and card recipients now have at least three years to use them.

In a statement, the Agency said gift cards or vouchers were an easy present idea for hard-to-please friends and family members.

“While we believe that gifting cash is ultimately a safer option, if you are planning to buy a gift card this festive season, don’t forget that the national rules have changed to give the recipient at least three years to use it,” it said.

“The minimum three-year expiry date means that any gift card sold after the laws took effect on 1 November 2019 would currently still be valid for redemption and those bought for Christmas 2021 should be valid until Christmas 2024.”

The Agency said how expiry dates were displayed on gift cards was also important, with traders required to clearly state the expiry date on the gift cards themselves.

“This means you can easily see and challenge the date if they get it wrong and also that the recipient of your gift won’t be caught out not knowing when it will expire,” it said.

“You also cannot be charged post-purchase fees or administration charges that will reduce the value of your gift card, such as activation, account-keeping and balance enquiry fees.”

Consumer Protection said while the rules gave consumers more certainty, it was important to remember that there was still an element of risk attached to buying gift cards and vouchers.

“Unspent gift vouchers or cards may become worthless if a business goes bust or closes its doors, so for this reason we recommend giving cash instead,” the Agency said.

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