Consumer champion Martin Lewis has issued a stark warning to anyone holding a gift card, urging them to check for a crucial expiry date to avoid losing their money.
The 'Anti Gift Card' Stance
Speaking on a recent episode of his BBC podcast, which focused on tax issues, the money-saving expert made his position clear: he is 'anti gift card'. While they are popular presents, Lewis highlighted significant risks that shoppers often overlook.
His primary concern is that once a gift card or voucher passes its expiry date, consumers have 'no legal rights' to a refund. He also pointed out the obvious danger if a retailer goes out of business, rendering the card worthless.
Clarity on Expiry Dates is Crucial
Lewis emphasised that companies must be transparent about their terms. 'The information about expiry dates should have been given before the purchase,' he stated. Good practice involves printing the date clearly on the card, voucher, or in the confirmation email.
'When the date starts also needs to be clear - is it from activation, or is it from gift,' he added, stressing the importance of understanding the small print.
Proactive Tips to Protect Your Money
For those with cards nearing their use-by date, Lewis offered a clever workaround. 'If you've got gift cards and not used them, try spending a little on them before they expire,' he advised. This transaction can often trigger the issuance of a new gift card for the remaining balance, which typically comes with a fresh, longer expiry date.
He cited examples like John Lewis and Waitrose, where cards are invalid after 24 months from purchase or last use. However, simply making a purchase or checking your balance resets this two-year timer. Primark operates on a similar 24-month, refreshable system.
What to Do If Your Card Has Expired
All is not necessarily lost if your voucher has lapsed. Lewis recommends being proactive: 'With bigger stores, I'd ask them for an extension, particularly if it's a big brand.'
Furthermore, he pointed out a potential route for redress. 'But if it was unclear about the expiry date, you could complain to your consumer rights, then they could be in breach of the law for lack of transparency about the expiry date and you might get your money back.'
The expert's alert serves as a timely reminder for consumers to dig out any unused vouchers and take action before their value disappears.
