Massachusetts gift certificate law

How long are restaurant gift certificates good for?

Restaurant Certificates and Cards never expire!

Is it illegal to not accept gift cards?

Federal Gift Card Law Thanks to the federal Credit CARD Act of 2009, gift certificates and store gift cards can’t expire for five years. However, issuers can still charge an “inactivity fee” if the card has not been used within twelve months. (15 U.S.C. § 1693l–1).

Do gift certificates in Massachusetts expire?

Expiration Dates Federal law requires that a gift card cannot expire within five years from the date of purchase, while Massachusetts state law requires a gift card to last for a minimum of seven years from the date of purchase.

Can gift certificates legally expire?

Federal law prohibits gift cards and gift certificates from containing expiration dates that are less than five years after the date on which the card or certificate was issued, or the date that funds were last loaded onto the gift card (whichever is later).

What happens if your gift card expires?

Cards are good until the expiration date on the card has passed; the expiration date is no less than 5 years from date of purchase. If you do have an expired card , you may contact Customer Service to receive a new card in order to use the remaining funds. There is no fee to replace an expired card ; funds do not expire .

Can gift cards be traced?

The gift card usually can ‘t be traced , and the merchant gets a chargeback from the holder of the stolen credit card . Taking over an account and buying gift cards : With someone’s bank or online shopping account credentials, criminals can buy lots of gift cards and spend them or cash them out before they’re caught.

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Can gift card be redeemed for cash?

No. Though Visa, Mastercard® and other bank-issued gift cards are accepted at a wide range of places–online, in stores, over the phone–they cannot be sold for cash at a Gift Card Exchange kiosk.

What states require gift card refund?

Some states with gift card laws include California , Colorado , Maine , and New Jersey . Each state requires card balances be less than a certain amount before cash redemption is mandated. The threshold is usually around $5 to $10.

Can a business refuse a gift card?

The only exception is if the gift card specifically states that it cannot be transferred or sold on its face. Likewise, under the laws of all states, gift cards that have been issued and purchased are the equivalent of money and can be used as multiples in the purchase of an item.

Are inactivity fees legal?

The Credit Card Accountability Responsibility and Disclosure Act of 2009 (the CARD Act) provides consumers several gift card protections including limits on expiration dates and fees . Also, inactivity fees ( fees for not using the card) are prohibited unless cards have not been used for 12 months.

What happens to gift cards when a business closes?

If the company has gone out of business , do this: You may be able to redeem the card’s value for a new gift card at a different store. Contact your credit card company . If you paid for a gift card with a credit card , consumer protection laws may qualify you for a full refund.

Are gift cards taxable in Massachusetts?

DOR is reminding shoppers that gift cards are the same as a gift of cash and are not subject to the 6.25% Massachusetts sales tax. Retailers should not be charging any taxes on these items. However, in some instances a sales tax may be due when the gift card is redeemed and an item is purchased that is taxable .

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Are gift certificates allowed to expire in Canada?

The Consumer Protection Act bans most retail business gift cards from having an expiry date . This means a gift card can be used to its full value no matter when you decide to use it. The act also requires that all restrictions and conditions must be stated in clear and visible writing for the customer.

Are gift cards regulated?

Since 2011, most prepaid card issuers in the UK have to abide by the Electronic Money Regulations (EMRs) set up by the FCA to ensure a greater degree of transparency and fair competition in the sector’s operations. They are also not allowed to refuse to redeem e-money if it is worth less than €10.

Can gift certificates expire in Wisconsin?

Although Wisconsin does not regulate the sale of gift cards , federal law requires disclosure of all fees at the time of purchase. Prior to this regulation, gift cards typically expired after one to two years. “The new rules say the balance cannot expire in less than five years,” says Collins.

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