These include: * Kansas, Kentucky, Missouri, Oregon, and South Carolina escheat provisions, which govern the states' rights to unclaimed property, do not specifically include gift cards. 2.15 Yes. Used Giftcards for any Gap-owned store can be redeemed for cash when the balance is less than $5 or as required by law. It applies to prepaid cards and certificates issued in a specified amount or, in the case of some cards, in an amount that can be added to. Pre-Paid Phone Cards - 2009-R-0055 You asked about prepaid phone cards and whether their treatment is affected by our gift card law. These three stores offer to return your balance in cash: Many national stores have policies that say gift cards may not be returned “except where required by law.” Gift card theft and fraud cost merchants a lot of money, and there are strict federal laws to prevent criminals from using gift cards to launder money. A few major retailers give refunds on gift cards, with some restrictions and exceptions. Can you return gift cards for cash? To help protect those who buy or receive gift certificates, store gift cards or general use gift cards, a Georgia law took effect in October 2005. Future legislation may change these states' rights to claim unused gift cards. Courts will decide if the business must honor gift cards if there’s a question. If the gift card or voucher was bought through a third party, it would be worth seeing if the purchaser can approach them for a refund. While the purchaser has no right to a refund, the third-party may still choose to act as it still has a reputation to manage and customer loyalty to consider. We encourage you to also seek the one-on-one help of a certified professional. Kroger Family of Stores (Ralphs, Fred Meyer, Harris Teeter, Barclay Jewelers, Littman’s Jewelers, and many others. Not all cards purchased in a store are gift cards. States That Require Cash Refunds on Gift Cards. https://firstquarterfinance.com/can-you-return-gift-cards/. The federal District Court, Southern District of California, issued the first decisions interpreting Section 1749.5 (b) of California’s Gift Card Law since its amendment in 2007 confirming that merchants have the right to refuse to redeem a gift card for cash where the balance is $10 or more. However, the law is grey around gift cards. The Federal Reserve says that some states already have rules that limit fees on gift cards and restrictions on gift card expiry. Answered, What Gift Cards Does Walmart Sell? The provision of vouchers that are in the form of electronic money (such as a card with a magnetic strip that may be accepted as a form of payment) may be considered the provision of a ’financial service’ and so the FSDMRs will apply." If you received the card as a gift, you’ll probably need to talk to the person who gave it to you about making a return. Some states where stores have to give you cash back on a gift card, no matter what their policy says. Click to share on Facebook (Opens in new window), Click to share on Reddit (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to email this to a friend (Opens in new window), Can You Return a Car Battery (Used or Unused)? Be aware that some companies will not … Prepaid, Retail, etc Options Listed, Where to Buy Gift Cards Online & Pick up in Stores (+ Where You Can’t), Where to Buy an Apple Gift Card (+ Where You Can’t), Where to Sell Gift Cards for Cash (Plastic or Electronic): 4 Options Listed, Where to Buy Amazon Gift Cards: 19 Places (+ Where You Can’t), Can You Get Cash Back From a Gift Card? Pay with a credit card because laws provide you with safeguards if the business fails to deliver the merchandise. After receiving feedback from consumers, consumer groups, card issuers, industry commenters, and even a state attorney general, the Federal Reserve proposed these rules: Gift cards can only expire five years after the date the card was purchased or … Answered, Where to Buy Discounted Gift Cards: 16 Online, In-Store Options Listed, Where to Buy Chick-fil-A Gift Cards: CVS? We booked a holiday with the card plus some other funds from a credit card. e-gift card: No returns or refunds unless required by law. State Laws. While federal regulations are in place, most of the rules regarding gift cards depend on where you live – and ClassAction.org has done the research for you this holiday season. In our view, the provision of gift vouchers is a contract for the supply of a service. You may find it listed on their Help page under “Gift cards” or under “Returns” or under “Terms and Conditions.” We’ve done the work for you and created this summary of the top eight national stores that will accept returns on gift cards. The law only applies to gift cards used to make in-person purchases (i.e., not online). Typically, under Massachusetts law, a gift certificate or a merchant credit slip (given for returned merchandise) is redeemable for a minimum of seven years from its date of issuance. Unless your state requires it, you can’t return gift cards at these stores: Some U.S. states and territories require full cash refunds on gift cards. But there’s also a few catches when it comes to gift card laws – if you leave your card sitting around too long, the state may be able to claim the balance for itself.