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Can vouchers go out of date?

There is currently no minimum expiry date on gift vouchers under law, with some retailers issuing expiry dates on their vouchers after a short period of time. ... It's wrong that consumers should have to spend a voucher in full in one transaction.

Can you use out of date vouchers?

At present, expiry dates for gift vouchers can often range from as little as six months up to 24 months. ... In some cases this happened because the voucher was lost or forgotten but in other cases consumers found themselves unable to use a gift voucher because it had expired before the consumer went to redeem it.

Can vouchers legally expire?

The law requires that most gift cards or vouchers be sold with a mandatory minimum expiry period of three years. The period begins from the date a gift card is sold to a consumer. Businesses can choose to apply an expiry period longer than three years and no maximum expiry period applies.

Why do vouchers have expiry dates?

Expiration date After that, a “service charge” or “maintenance fee” kicks in. Each month, the card loses a few dollars or a few percent of its value, until it becomes worthless. They've already got your money; it's sitting in their bank account earning interest.

What happens when a voucher expires?

What happens when a gift voucher expires. Gift vouchers are treated as a Liability until they are redeemed. When a gift voucher expires, then that liability is no longer owed to the customer and that value will need to be treated as Revenue instead.

How long are vouchers valid for?

At present, expiry dates for gift vouchers can often range from as little as six months up to 24 months. In the retail sector expiry dates for vouchers issued by large retailers are typically two years from either the date of purchase or of last use.

How long do vouchers last for?

When gift vouchers expire Gift vouchers and cards do expire eventually. But, the amount of time you have to use the gift card or voucher can vary a lot — from specific dates and seasonal months to 3 months up to 12 months, for example.

How long should gift vouchers be valid for?

The law requires that most gift cards or vouchers be sold with a mandatory minimum expiry period of three years. The period begins from the date a gift card is sold to a consumer. Businesses can choose to apply an expiry period longer than three years and no maximum expiry period applies.

Can you put an expiry date on a gift voucher?

Where there is an expiry date on a gift voucher, it should be at least five years. You should be given the expiry date in a durable form, for example in writing or in an email, and you should also be given the date the gift voucher was bought. You do not have to spend the full value of the voucher in one transaction.

Is it illegal to put an expiration date on a gift card?

The law provides that gift cards cannot expire within five years from the date they were activated and generally limits inactivity fee on gift cards except in certain circumstances, such as if there has been no transaction for at least 12 months.

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