Shopping Malls Exempt From Dropping Expiry Dates On Gift Cards
Posted December 6, 2007 12:00 pm.
This article is more than 5 years old.
Before you get gift card happy this holiday season, there’s something you should know.
You may recall when the Ontario government banned gift cards from having an expiry date back in October because it wants “consumers to know that gift cards are worth the money they paid for them, regardless of when those cards are used,” according to Consumer Services Minister Ted McMeekin.
But it looks like that rule won’t apply to shopping malls over the shopping frenzy this month as they’ve been granted a temporary exemption from the new law until the New Year.
Some malls are still charging a $1.50 processing fee, while others are subject to a monthly two dollar maintenance fee.
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The new law:
- Prohibits expiry dates on gift cards and certificates holding a specific dollar amount
- Restricts fees charged for gift cards to a) customizing a gift card, or b) replacing a lost or stolen gift card
- Requires the clear disclosure of any items and conditions relating to a gift card (e.g., any limits to redeeming a card)
* The rules apply to pre-paid and re-loadable gift cards and gift certificates sold by retailers. Gift cards redeemable at more than one unaffiliated store (e.g., shopping mall cards) must follow the rules relating to expiry dates and disclosures, but are temporarily exempt from the rules on fees while the ministry examines options to regulate gift cards for specific goods and services, such as a massage or manicure or dinner for two.
