Will your Gift Cards keep on giving?

Or will they expire before you can use them?!

The press release with more background information on the story from 2016  can be found on Looking a gift card in the mouth

1) Carefully check the expiry date of the Gift Card, which could even be different to advertised! Tesco sells the Pizza Express card with an 18 months expiry but when I contacted them they said this was mistake and would change the figure on their website to 24 months. Many independent restaurants can be 6-9 months and experience days are usually 6 or 9. Most will start the clock running again from when the card was last used if you have credit.

2) If you find a card that you haven’t used, go into the store and ask for a balance check. Many of the larger retailers will do this and your time will start again. So if you have only 3 months left on a card but started with 24, the 24 will start again.

3) Remember your consumer rights stay the same. If the item you buy with the card is not of satisfactory quality then under the Consumer Rights Act 2015 you can take it back within 30 days for a full refund. After that time a repair or replacement may be offered. But you get refunded using the method by which you paid, so the money will go back onto the Gift Card

4) It isn’t just gift cards as presents you need to be careful of, as sometimes gift cards are given as goodwill gestures by companies. So for example, Eurostar or Ryanair may give you a Gift Card and you don’t intend to travel for a couple of years, but their cards only last a year.

5) Often its grandparents giving children Gift Cards. They don’t like the idea of just giving cash and sometimes feel that if they hand over money in a shop it is more of a present than cash, but those younger children go out shopping less often than adults so check their cards too. Buy them off the children, if you can use them.

6) My mum always bought mine at face value when I was a child because she’s nice, but if you don’t have the option of exchanging for face value you can always sell them on a website. Zeek* has been going for a couple of years in this country. It provides a way to can sell your unwanted gift card for slightly less than face value and Zeek takes 7% (you just have more than 3 months to go on the card). Zeek checks balances on cards before they can be sold. You may find gift cards on auction st of course eBay doesn’t check what sellers sell. Useful guidance can be found  on eBay Buyers Guide to purchasing Gift Vouchers & Gift Cards from the UK Giftcard and Voucher Association.

7) Keep the receipt in a separate place to the card. If you lose the card you will still have the details so that if you act quickly enough the store maybe able to cancel the card. But in essence the card acts like cash.

8) Check that you can use in concessions within a store and online, as again all varies from store to store!

9) If store goes bust act quickly. It will be up to the administrators as to whether they will continue to accept them.

10) If your card has expired don’t despair. Although it is unlikely you will get a full refund it is worth asking at the checkout, then with customer services and then the CEO, by telling him or her what you think of their ridiculous unnecessary expiry dates!

 

 

 

Big name companies which only have one year expiry dates are:

12 months
Wiggle, Eurostar, Habitat, Ticketmaster, Crew Clothing, Ryanair, Spafinder, O2 Climb, Vue, Westfield Shopping Centre, JD Sports and Restaurant Choice (variety of chains and you can’t even use with any discount promotion either!)

10 months
Buyagift and Spabreaks

6 months
Various independent restaurants, We Are Vertigo and UK Paintball

Other cons!
Be really careful of the Post Office One4all gift card! “Quoted from their site “There will be a charge of 90p applied to the card on the19th month after the card sale date and each month thereafter until the card balance reaches zero.” That stinks!

Matalan may not give you any change when you use their gift cards!

Useful information

Consumer Rights Act 2015

20 Top Tips for Complaining Effectively

How to Complain: The Essential Consumer Guide to Getting Refunds, Redress and Results!

 

Signed copies of How to Complain: The Essential Consumer Guide to Getting Refunds, Redress and Results! . Or get unsigned copies from Amazon

 

 

 

See Ceoemail.com for the contact details for any CEO.

Newsletter. Promise not to fill up your inbox with lots of rubbish on a regular basis! I don’t send them very often, but when I do it’s usually to tell you about changes in the law, updates and items of interest. So go on sign up you know you’re interested and I shall of course complain if you don’t!

Looking a Gift Card in the Mouth

*refer a friend link

Looking a Gift Card in the mouth?

Gift cards all you need to know

How big is the gift card business?

Many of us will be buying and receiving gift cards this Christmas 2016. They have become big business since the first book token was issued in 1932. Whether you think it shows lack of thought (why not give cash instead of restricting the recipient?) or shows more thought by showing that they have chosen a particular store, it is now big business.  The voucher and gift card industry has grown into a £5.6bn a year operation in the UK according to the latest figures from the UK Gift Card & Voucher Association (UKGCVA). This up from 4bn in the previous year and is continually growing year on year.

Gail Cohen, Director General from the UKGCVA, says, “Research from The UK Gift Card and Voucher Association shows that 60% of members saw a growth in sales during H1 [first half of] 2016, and 4.44% growth compared to the same period in 2015.” This analysis is based on data provided by UKGCVA’s retail issuer members that agree to share their data.

The figure for the amount of unspent gift cards in the UK is £300 million, which accounts for just over 5% of the entire value of gift cards and vouchers in the UK. The UKGCVA says it is working with its members to increase consumer awareness around gift cards, with the aim of further decreasing this figure in the future.

What to do with unwanted gift cards

Now that consumers can sell their gift cards they believe they will never use, this unspent figure may reduce. Zeek* is a marketplace website/app where gift cards can be bought and sold.  Sellers can set their own price and the bigger the discount, the faster the voucher sells. Typical discounts right now are between 5% and 25%. Zeek takes 7% of the selling price (£3 minimum). This compares favourably with auction sites, such as eBay, which which takes 10%. Zeek verifies the balance and expiry date of every card that is listed for sale.  Digital vouchers, which tend to be redeemed immediately, must be valid for at least a month. Physical vouchers, where you need time to get to the store, must be valid for at least 3 months.

A spokesperson for Zeek said that it sees thousands of new buyers and sellers join Zeek every day. November 2016 was their biggest ever month. 94% of vouchers sell within 24 hours. Department stores, supermarkets, Amazon and fashion always sell very quickly.

Zeek’s CEO and co-founder Daniel Zelkind said “Shopping with discounted gift vouchers is a simple way to cut the cost of the festive period and if Santa gives you a gift voucher you’ll never use, it’s easy to turn it into cash and buy something you actually want.”

UPDATE 07/02/19 looks like Zeek is going into administration. Don’t use until  more information becomes available.

What should you be aware of when buying or receiving gift cards?

1) Always check the expiry date and spend quickly if you can so that you don’t forget it!

2) Make a note of the number. If you lose the card, the store should be able to trace the card, stop the amount and issue you with a new one.

3) If you return the item, whether you change your mind and the store allows it, or even if the item is faulty, the refund will be put back on a gift card.

4) It is unlikely that you will be able to use the card in store concessions but do check as this varies from store to store.

5) If the store goes bust it will be up to the administrators as to whether they will accept gift cards, so keep hold of them as it is unlikely but possible that they will be accepted. The purchaser may be able to get money back using Section 75 of the Consumer Credit Act if it was for more than a £100 and paid for on a credit card or using Chargeback if less than a £100 from your bank. The latter is a voluntary signed up to scheme rather than law. See Retailer in administration – your rights for more about this.

6) When giving a gift card, also give the receipt which the recipient can keep in a separate place in case the card gets lost or stolen.

7) Check that you can use the card online.

8) Your consumer rights when buying goods or services are the same as when purchasing items with a gift card.

9) If your card has expired ask for an extension. There’s a chance the store may allow it.

10) Check the terms and conditions. Sometimes the expiry date is from when it is bought, last used or just checking the balance so you may be able to extend the gift card’s life time!

Looking a Gift Card in the Mouth

Further help and advice

Will your Gift Cards keep on giving? for more details about gift cards and individual companies.

Don’t forget to use sites like Topcashback when you use the gift card online to save even more money!

Been given something other than  a gift card but still unwanted? See What to do with the ghost of Christmas Present?

How to Complain: The Essential Consumer Guide to Getting Refunds, Redress and Results!

 

 

Any problems with your purchases GET THE BOOK! How To Complain: The ESSENTIAL Consumer Guide to Getting REFUNDS, Redress and RESULTS!

 

 

*refer a friend link