We’ve all received the beloved gift card as a present at least once in our lives. Whether they’re spot on with your favourite store, or missed it completely, gift cards have become a staple present for all generations.
For those that receive cards that may not suit their tastes, they often become lost or forgotten in the deep dark corners of handbags or desks, causing millions of dollars to go to waste each year. Many retailers would simply not redeem your gift card after the expiry date, meaning the opportunity to buy that new barbecue for Christmas has now sizzled away.
Currently, only Westfield gift cards are able to be exchanged for an updated card in order to prolong the expiry date. Taking an expired gift card to the concierge desk to redeem for a new one is a great way to ensure that your gift cards don’t go to waste.
“Gift cards operate like a contract. After the expiry date, it is really at the whim of the trader whether they choose to honour the contract.”
Some retailers may still honour expired gift cards, but it is up to their discretion whether or not they will.
In October this year, the Honourable Victor Dominello, Minister for innovation and better regulation, encouraged consumers to use their expired gift cards, in a bid to push for indefinite expiry dates for gift cards.
Some states in the US have banned or restricted expiry dates on gift cards, and hopefully Australia will follow soon.
The results of a survey being conducted in regards to gift card expiry dates will determine whether regulatory change is needed in the area. The survey can be found at Fair Trading.
Make sure you are aware of your rights when redeeming gift cards. If you feel that you have been wrongly denied the use of a gift card, or wish to know more about this issue, contact Freedman & Gopalan Solicitors on 02 8917 8700 or fill out the enquiry box and we will get back to you ASAP.