Dubbo shoppers can have “peace of mind” when they buy gift cards this Christmas, says Troy Grant.
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The state Member for Dubbo is reminding the community of the minimum three-year expiry date on gift cards introduced by the NSW government in March.
Mr Grant said prior expiry conditions had been “prohibitive to buyers and recipients”.
“I’ve heard countless stories of people who went to use their gift card, only to be told that it was invalid or out of date,” he said.
“With three-year expiry we’re making sure gift cards are able to be used by recipients when it suits them, not the business that it was bought from.”
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NSW Minister for Better Regulation Matt Kean said in previous years the majority of gift cards had a 12-month expiry date.
He said an estimated $200 million a year was being lost by Australian shoppers because up to eight per cent of recipients did not use the full balance by the 12-month deadline, forfeiting the amount left on the card.
“..since the NSW government introduced these Australia-first reforms, consumers now have three years to use them,” Mr Kean said.
“That’s a fairer deal for consumers this holiday season and puts up to $60 million a year back in the hands of NSW shoppers.”
About 34 million gift cards are sold in Australia each year with an estimated annual worth of $1.5 to $2.5 billion. For more information on gift card laws, visit www.fairtrading.nsw.gov.au or call 13 32 20.
