Playing your cards right.

Gift cards are a popular and convenient present option, with Australians predicted to spend over $10 billion on them in 2023. However, there have been numerous complaints about gift cards, particularly regarding premature expiry. In 2019, new laws were introduced to address this issue, requiring gift cards to have a minimum 3-year expiry period and no fees charged after purchase. There are exceptions to these rules, and it is important to choose a card with a long expiry date, check the balance, be mindful of specialty purchases, and treat the card like cash to avoid any issues. If a business goes bankrupt, consumers may have limited options for recovering the value of their gift card. [Extracted from the article]