NIAGARA FALLS, N.Y. (WKBW) — A viewer recently reached out to us at 7 News after he had questions surrounding a gift card and wanted more consumers to be aware of a New York State law.
Jerry Trunzo said he took his father to a restaurant in Niagara Falls a few weeks ago and they had a $25 gift card. But the gift card said it expired after 90 days.
"[Waitress] said it doesn't matter anyway, because we accept them after the date," explained Trunzo.
Turns out the restaurant has no choice but to honor a gift card even after 90 days from purchase. According to a New York State law, you have at least nine years to use gift cards purchased on or after December 10, 2022.
"I think a lot of people are unaware of expiration dates with gift cards," said Trunzo.
WATCH: Consumer alert: Gift cards in New York last 9 years regardless of what the company says
So before you throw out a gift card that you think is expired, read this:
New York State Gift Cards
- Gift cards purchased in New York on or after December 10, 2022, remain valid for at least nine years from the date they’re bought.
- The 2022 law also bans post-purchase fees, including charges of inactivity, dormancy, service, and maintenance
- The only exception is a one-time activation fee of up to $9
- Cards purchased between August 22, 2010, and December 9, 202,2 must remain valid for at least five years.
- Cards purchased before 2010 may not be protected by modern expiration rules.
- Even though a gift card may technically still be valid, unused balances can be considered abandoned property if the card isn’t used for five years. In those cases, the money may be transferred to the state’s unclaimed funds program, overseen by New York State Office of the State Comptroller.
Federal Gift Cards
- Under the Credit Card Act of 2009, most gift cards must remain valid for at least five years, and inactivity fees are limited and must be clearly disclosed.
