Do you know about the changes to Gift Card expiry dates now in effect in New South Wales?
As of March 31st 2018 any Gift Cards or Gift Certificates purchased in New South Wales need to have a minimum expiry period of 3 years.
This change was made to give consumers access to the full value of their gift card over a reasonable period.
What about Gift Cards purchased before 31 March 2018?
The changes only apply to Gift Cards and Gift Vouchers purchased after 31 March. The terms and conditions in place at the date of purchase continue to apply to those cards.
Do the changes affect promotional Gift Cards and Discount Cards?
Cards that have not been sold, such as donated cards or discount vouchers are not covered by these laws. Another exception applies to Gift Cards 'purchased' by redeeming points through a Loyalty Program.
What about Gift Cards sold online?
If your online customer provides an address outside NSW then the cards are not required to carry a 3-year expiry. However, if the customer doesn't supply an address, but makes the purchase while in NSW, then the reform applies. This can be difficult to manage, so we recommend committing to a 3 year expiry for Australia wide customers.
What do I do about my stock of Gift Cards that don't comply?
There is a transition period in effect until September 31. This allows businesses to continue to sell their pre-printed gift cards as long as measures are taken to clearly communicate the changes to customers. This could include;
- Crossing out reference to the expiry period on the Gift Card itself
- Updating the terms and conditions on your website
- Providing your customer with printed information about the changes at point of sale
- Add a note to the receipt for any Gift Cards purchase.
For more information about the reforms please view the Fact Sheet