Do Gift Cards Expire? Here’s What new York Law Says
Gift cards and gift certificates are very popular gifts, especially around the holiday season. A debate about their expiration dates, however, has recently gained steam in a local Hudson Valley Facebook page.
There are several types of gift cards: cards that come loaded with cash (think Visa gift cards), cards that are for specific franchise businesses (like Starbucks or Dunkin'), and local certificates for small businesses. But can any of them expire?
Can Gift Cards and Certificates Expire in New York?
The specific debate in the Hudson Valley was focused on a local restaurant, but the law extends to a wide array of gift cards and gift certificates. Knowing the details can not only help gift card buyers, but their recipients as well.
What New York Law Says About Gift Card Expirations
The short answer is yes, gift cards can and do expire in New York State, but the longer answer is more complicated. Luckily, laws that went into effect in 2022 laid the groundwork to help better protect consumers and extend the life of many gift certificates and gift cards.
2022 Law Changes Requirements for Gift Cards in New York
Since December 10th 2022, New York law states that gift cards and certificates are valid for nine years after the date of purchase. There are also several other protections that have been put in place.
In addition to a nine-year shelf life, gift cards in New York are prohibited from decreasing in value if they are not used, and there is a ban on gift card fees of any kind as well. Cards with under five dollars left on the balance can also be redeemed for cash.
Gift certificates are not only a convenient gift, but they are also an excellent way to support local businesses. Check out some favorites below.
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Gallery Credit: Paty Quyn
