Recently, Governor Kathy Hochul signed legislation that would change the amount of time for which gift cards are considered valid here in New York State. Please continue reading and reach out to our seasoned New York consumer lawyer to learn more about the recent piece of legislation and what it may mean for you. Here are some of the questions you may have:
What does the recent legislation mean for gift cards in New York State?
Under the new law, the time limit to use gift cards issued on or after December 10, 2022, increased to nine years (at minimum) from the date they were issued. The legislation was passed as a result of many New Yorkers finding that their gift cards have expired before they ever had a chance to use them. Under the new law, consumers here in New York State can have a bit more confidence when purchasing these gift cards for friends and family, knowing they will now be useable for many years to come. You should also note that Ms. Hochul signed legislation that states when a gift card has a remaining value of five dollars or less, the recipient can opt to receive cash for the balance. Additionally, all fees, such as activation or service fees, are prohibited under the new law, thereby preventing gift cards from declining in value.
How long is my gift card good for?
This will depend on exactly when your gift card was issued. As previously mentioned, all gift cards issued on or after December 10, 2022, will be useable for at least nine years after purchase. That said, if your gift card was issued between December 25, 2019, and December 9, 2022, it will be usable for five years from the date of purchase. Gift cards issued between August 22, 2010, and December 24, 2016, are also valid for five years from the date of purchase. Finally, there is no minimum on cards issued between September 21, 2004, and August 21, 2010.
If you are being denied the usage of a gift card that is still technically valid under this new law, understand that your rights are being violated, and you may have a case against the vendor violating your rights. If your rights as a consumer have been violated, give us a call today. We are here to help in any way we can.