New laws make gift cards easier for New Yorkers
Just in time for the holidays, new laws involving gift cards go into effect Saturday in New York.
Any gift cards or gift certificates bought in New York on or after December 10 will remain valid for a minimum of nine years from the date you bought them.
Inactivity fees are also prohibited under the new law – which will prevent gift cards from declining in value.
“The law prohibits gift card fees and limits expiration dates so that consumers can enjoy the full value of the gifts that they’ve received,” said Robert Rodriguez with the Department of State.
The new law also says when the remaining value of a gift card is less than $5, you can opt to receive cash for the balance.