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State Gift Card Law vs. Federal Gift Card Law

New York

Store Issued Gift Card Impact

Current State Law

Federal Law

Impact of Federal Law
  • Store issued gift cards may expire at any time
  • Store issued gift cards may not expire before 5 years
  • Consumers gain 5 years of protection before store issued gift cards expire
  • Post-sale fees may be charged after 1 year
  • Store issued gift cards may charge post-sale fees after 1 year of card inactivity
  • State law matches 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
New York Gift Card Law Summary

Heads up! ScripSmart attempts to make all information accurate. ScripSmart is only a guideline and does not provide definitive statements of the law. If you have questions about the law's application to a particular case, direct them to a specialist. If you believe this information is incorrect, please let us know.
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