A Marshall Liberal Government will legislate to protect consumers by ensuring that gift cards purchased in South Australia are required to have a minimum expiry date of three years.
The three-year expiry would apply to all gift cards sold in South Australia to a person residing in South Australia at the time of purchase.
For purchases made online, the trader may rely on a non-South Australian address as proof that the person is not a South Australian consumer.
We will work with businesses and retailers to ensure that both businesses and consumers can benefit from the purchase and redemption of gift cards.
According to consumer advocate, Choice, Australians are losing about $200 million every year in unredeemed gift cards.
Australians spend about $2.5 billion a year on the cards but a Choice survey found that about a third of respondents had lost the full value of at least one gift card in the previous three years.
Australian consumer laws do not currently prescribe a minimum expiry date on gift cards, resulting not only in short expiry dates on many cards, but also an increasing variety in the range of expiry dates – making it additionally confusing for consumers.
Consumers deserve to get what they’ve paid for without unnecessary restrictions meaning that businesses retain the cash without consumers receiving a good or service that has ultimately been paid for.
That’s why we will impose a minimum three-year expiry date on gift cards to provide certainty for consumers and businesses.