Consumers are now able to enjoy extended expiry dates on gift cards thanks to nation-leading reforms introduced by the NSW Liberals & Nationals Government.
Minister for Better Regulation Matt Kean and Parliamentary Secretary for the Hunter Scot MacDonald MLC yesterday visited retailers in Stockland Green Hills. Gift cards sold in NSW must now have a minimum three-year expiry date.
Mr MacDonald said the move that came into force on March 31 would put up to $60 million a year back in the hands of NSW shoppers.
“Previously, the majority of gift cards offered only a 12-month expiry date, but now consumers will have three years to redeem their card,” Mr MacDonald said.
“This is a big win for consumers in Maitland, some of whom would have experienced the disappointment of an expired gift card.”
Mr Kean said these Australian-first reforms put consumers first and give people confidence that when they head to the shops they know they’re getting a fair go.
“This is all about giving consumers more certainty that when they buy gift cards for friends or relatives, they’re getting value for money,” Mr Kean said.
“My goal is to put consumers first, and these reforms are doing just that.”
For more information about the reforms, visit www.fairtrading.nsw.gov.au