Gift cards come with risks

09/07/2012

The Commonwealth Consumer Affairs Advisory Council issued its final report on the gift card market on Friday, with recommendations that the industry do more to increase consumer awareness about issues such as expiry dates, which have given rise to complaints.

Consumer lobbyist Choice said: “Nearly all gift cards sold in Australia expire after one year. This is grossly insufficient and leaves many consumers unfairly out of pocket without clear recourse.”

“About three in four participants in the survey received at least one gift card in the past 12 months, with a similar proportion giving one as a gift. More than half said they have had gift cards that expired before they were able to use the full value.”

Source: Banking Day