Tips on Gift Cards for the Holiday Season
Gift cards can be great to give when you’re not exactly sure what to provide to your friends and family during the holidays. However, the rules regarding how long they are good for and what you can use them for can sometimes be confusing. While state and federal laws vary, below is some basic information you can print out and provide as you hand out your gift cards this holiday season.
Download the PDF (available in English and Spanish) and print to give along with your gift card so the recipient will be better informed about how to use it!
Gift card FAQs
Can I exchange gift card funds for cash from a merchant?
You can ask, but the law does not require a merchant to do so. However, Texas law requires the merchant to give you the cash left over after a purchase if you present it at the store and the balance on the card after the purchase is less than $2.50. Ch. 604, Tex. Bus. & Comm. Code (2019).
How long do I have to spend the funds on my gift card?
If there is a time limit, it must be disclosed on the card. The law requires merchants to make funds available for at least five years. 12 C.F.R. § 205.20 (2019).
Will the balance on my gift card go down if I don’t use it?
No fees can charged for inactivity unless at least one year has gone by since you last used it, and the fee must be reasonable, cannot be charged more than once per month, and it must be printed on the card. Ch. 604, Tex. Bus. & Comm. Code (2019); 12 C.F.R. § 205.20 (2019).
Note: State and federal laws related to gift cards often exclude special cards like those issued for awards, rewards, rebates [cards that were not purchased], reloadable cards, cards issued for refunds provided for merchandise returned without a receipt, those issued for phone use, and cards originally issued for $5 or less.
Tarjeta de regalo Preguntas frecuentes
Puedo cambiar los fondos de la tarjeta de regalo por dinero en efectivo de un comerciante?
Puede preguntar, pero la ley no exige que un comerciante lo haga. Sin embargo, la ley de Texas requiere que el comerciante le entregue el dinero sobrante después de una compra si lo presenta en la tienda y el saldo de la tarjeta después de la compra es menos de $ 2.50. Ch. 604, Tex. Bus. & Comm. Code (2019).
¿Cuánto tiempo tengo para gastar los fondos en mi tarjeta de regalo?
Si hay un límite de tiempo, esa informacion debe aparecer en la tarjeta. La ley requiere que los comerciantes tengan fondos disponibles por al menos cinco años. 12 C.F.R. § 205.20 (2019).
¿Se reducirá el saldo de mi tarjeta de regalo si no la uso?
No se pueden cobrar tarifas por inactividad hasta que haya transcurrido al menos un año desde la última vez que la usó. Aun asi, la tarifa debe ser razonable, no se puede cobrar más de una vez al mes, y esta informacion debe aparecer en la tarjeta. Ch. 604, Tex. Bus. & Comm. Code (2019).
Nota: Las leyes estatales y federales relacionadas con las tarjetas de regalo excluyen tarjetas especiales como las tarjetas para premios, recompensas, reembolsos [tarjetas que no se compraron], tarjetas recargables, tarjetas emitidas para reembolsos proporcionados por productos devueltos sin recibo, tarjetas de uso telefonico, y tarjetas emitidas originalmente por $5 o menos.