STOP THE GIFT CARD RIP-OFF
‘Grinch’ firms profit from expiry dates
MORE than £300million worth of Christmas gift cards are stolen by retail “Grinches”each year, an MP said yesterday.
The SNP say people who receive the cards as presents miss out because of arbitrary expiry dates – some of them with a very short deadline.
And they are calling for the UK Government to give greater protection to consumers by banning expiry dates or introducing a minimum five-year period.
The UK Gift Card and Voucher Association estimate the card market to be worth £6billion a year, with £300million currently going unspent.
SNP consumer affairs spokeswoman Patricia Gibson said: “Like the Grinch who stole Christmas, retailers are profiting from money for nothing by taking away people’s presents when cards pass these arbitrary expiry dates.
“The minimum period, and policies, for gift cards can vary dramatically from shop to shop. “Many people wind up losing their money because the cards expire and the retailers then take the funds for themselves.” Gibson called for fairer terms and conditions – along with rules to ensure that any funds not used by the expiry date go to charity rather than profit. She added: “With families now facing stagnant wages, rising prices, and squeezed living standards under the Tories, it is all the more important that the UK Government introduce protections.”