MONEY Check expiry date on gift cards

Time limits on gift cards have been extended – but only in some places, writes

Sophie Elsworth

SHOPPERS have been given more time to redeem gift cards in some places across the country – but there’s a catch.

NSW is the first state to roll out legislation giving customers three- year expiry dates on gift cards and vouchers, but those in other locations will still need to pay close attention to the fine print.

For decades shoppers have had to adhere to short timeframes to redeem gift cards, otherwise they are simply letting money go down the drain if they fail to use their cards in time.

The NSW changes came into force on March 31 but the other states and territories are yet to follow suit.

Consumer group Choice’s spokesman Tom Godfrey warned consumers to pay attention to the small print on the back of the card and be mindful that gift cards can be “pretty poor value presents.”

“When you buy a gift card you’re just putting tricky terms and conditions on your hardearned cash,’’ he said.

“From short expiry dates to activation fees, gift cards are a gift horse for retailers.”

While the win for consumers remains restricted to just NSW, many other retailers across the country have already gone above and beyond this by rolling out unlimited card expiry dates.

Retail giant Woolworths has kissed goodbye to expiry dates on new cards and cards already issued.

From the end of last month all customers holding active Woolworths Group gifts cards will be able use them at any time, a move applauded by consumer groups.

Other retailers, including JB Hi- Fi and The Good Guys , already have unlimited expiry dates as well as popular surfwear store City Beach.

But the Australian Retailers Association’s executive director Russell Zimmerman said consumers who still opt to buy gift cards or redeem them need to make sure they understand the time frame they have to use them in.

In some cases, strict expiry dates will still apply, including retailers who provide “in- store credits” and some who offer “gift cards as part of a promotion.”

Other fees and charges can also apply with gift cards, including activation fees and costs associated with making inquiries. Big retailer Coles recently dumped charges associated with cards on their Coles Gift MasterCard and Coles Online Mastercard that slugged customers just for phoning up and asking questions.

They previously charged customers $ 4 for using the call centre, deducting the amount from the card’s balance when a person made a request or tried to obtain information that was available by logging in online.

A Coles spokesman confirmed these charges were removed last month.