Gift cards to have extended lifetime

Gift cards will have a longer life expectancy.

Consumer advocacy group Choice has called on all Australian states and territories to honour gift card value for at least years after their issue date.

It follows on from NSW governor Gladys Berejiklian’s move, to ensure that all gift cards in NSW are honoured for the three year period.

Choice Head of Media and Spokesperson Tom Godfrey said the reforms were a long time coming and are a win for NSW consumers.

“Unfortunately unfair expiry dates on gift cards cost consumers a small fortune each year,” he said.

“While a gift card might seem like a convenient and simple purchase at the point of sale, in reality you’re often buying tricky terms and conditions your loved one will have to comply with.

“Choice believes three years is a reasonable expiry period for business to comply with, although it’s worth shopping around for cards without any time restriction.”

The Australian Competition and Consumer Commission (ACCC) state on their website that businesses must state all conditions and restrictions in relation to its gift cards.

They also must state “the expiry date of the gift card or voucher, including the activation expiry date for cards that need to be activated”, “any limitation on the number of transactions”, “whether or not the card can be reloaded or topped up.”

The ACCC website states that businesses are not required to a honour a gift card after its expiry date.

Mr Godfrey said he would like to see the changes to gift card expiry that are to be introduced into NSW, rolled out across all of Australia.

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