State comptroller: read fine print on gift cards

Posted at 10:23 AM, Dec 03, 2014
and last updated 2015-11-28 10:23:52-05

With $5.8 million from gift cards turned over to New York last year, the state comptroller is urging consumers to read the fine print on the cards this holiday season.

State Comptroller Thomas DiNapoli says reading the fine print before buying or spending gift cards can help consumers avoid fees.

Unused gift cards issued by New York corporations are required to be turned over to the comptroller's office after five years of dormancy, leading to the $5.8 million turned over to the state last year.

DiNapoli says consumers should try to use gift cards within a year to avoid potential inactivity fees.

He says people with old gift cards they haven't spent can check with the comptroller's office to see if the money has been turned over as unclaimed funds.