BUFFALO, N.Y. (WKBW) — The holiday rush is on for many a Western New Yorker, as the gift-giving season is underway with just over two weeks, left until Christmas.
A change in the rules with gift cards may make it more worth while for those looking for a last-minute gift.
7 News is helping Make Ends Meet, and the things to keep in mind when it comes to giving safely.
Effective December 10, gift cards will have a longer shelf life!
This is because the Gov. Kathy Hohul's administration has implemented a law protecting from gift card expirations.
Here is how the new State law works:
Gift Cards & Gift Certificates Purchased:
Between September 21, 2004, and August 21, 2010
Between August 22, 2010, and December 24, 2016
Between December 25, 2016, and December 9, 2022
On or after December 10, 2022
Minimum Expiration Date Imposed by Law:
No Law Requiring a Minimum Expiration Term.
5-years from date of purchase before gift card can expire.
5-years from date of purchase before the gift card can expire.
9-years from the date of purchase before the gift card can expire.
Inactivity Fee Terms:
A monthly inactivity service fee may be assessed monthly after the 12th month of inactivity.
A one-time inactivity fee may be assessed after the 12th month of inactivity.
A monthly inactivity service fee may be assessed after the 24th month of inactivity.
If the gift card is presented within 3 years of the purchase date, any activity fees assessed will be waived and the gift card will be replenished to its value prior to the fees.
Inactivity fees are prohibited.
New York Secretary of State Secy. Robert Rodriguez said, "The law prohibits gift card fees and limits expiration dates, which ensures recipients can enjoy the full value of the gift they received."
To avoid scams when buying cards, experts advise to research retailers before purchase like checking reviews and articles, check packaging, use caution with third parties and review the terms and conditions.
"Anytime a scammer tries to gather information from you or log into a website or click on this link, don't do it. Go right to the source if it's an Amazon notice, go right to your Amazon account," Check Point Software Technologies, Field Cisco, Pete Nicoletti said.
