Many of us likely found a gift card or two under the tree this year. Before you go shopping, the Financial and Consumer Affairs Authority (FCAA) wants to remind consumers about the rules surrounding gifts cards and their usage.
Many consumers have questions about fees, expiration dates, and redemption.
The FCAA has provided the following tips:
- There are no additional fees. Gift cards, unlike credit cards, should not have post purchase activation fees, usage fees, or annual/monthly payments.
- Generally, gift cards cannot expire. Gift cards purchased and sold in Saskatchewan do not have expiration dates. The only time an expiry date is allowed on a gift card is if you received the card after making a donation to a charity or nothing of value was provided to obtain the card. (Free promotional gift cards distributed for advertising purposes can have expiry dates).
- Although cards don't expire, be sure to use them as soon as possible. If a store goes out of business, you will not be able to recover the value of the card.
For more information, visit the FCAA's website.
