Store Issued Gift Card Impact

Current State Law

Federal Law

Impact of Federal Law

• Store issued gift cards may not expire before 2 years

• Store issued gift cards may not expire before 5 years

• Consumers gain 3 years of protection before store issued gift cards expire

• Post-sale fees may be charged after 2 years

• Store issued gift cards may charge post-sale fees after 1 year of card inactivity

• State law exceeds federal law, no impact on store issued gift cards

Bank Issued Gift Card Impact

Current State Law

Federal Law

Impact of Federal Law

• Bank issued gift cards have no limits on post-sale fees

• Bank issued gift cards may mot expire before 5 years

• Consumers gain 5 years of protection before bank issued gift cards expire

• Bank issued gift cards may expire at any time

• Bank issued gift cards may not impose post-sale fees for at least 1 year

• Consumers gain 1 year of protection before bank issued gift cards may impose a post-sale fee