Gift Certificates Are Your Money

Monday, October 21, 2013 posted by Martin
Merry Christmas Engraved Stones

Merry Christmas Engraved Stones

A very popular form of gifting is the gift card.  They are different than gift certificates in that cards are electronic plastic and certificates are paper.  Large retailers and banks (such as AmEx and Visa) issue cards because they are easier to control or invalidate. Small stores may still use certificates.

Gift certificates and cards may have expiration dates. The issuers do this so the liability for this money clears their accounts and does not remain on their books forever. However, in most states, it is unlawful for the issuer to confiscate the unredeemed funds for their own use. Long outstanding gift cards are now considered unclaimed property. Therefore, if you search for unclaimed property from the issuer you will find that a value still exists and can be claimed by you if it is yours. So search the web for unclaimed property at unclaimed.org. Think of it as early Christmas or Chanukah greetings. Also, be careful of Visa gift cards or others that begin to lose a percentage of their value each month after only a few months. Always read the fine print and inquire before you buy one.

 

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