News

Consumers Win with Gift Card Reforms

Source: Stuart Ayres Minister for Western Sydney, Matt Kean, Minister for Innovation & Better Regulation
Archived 24 Jun 2018 - Posted: 28 Apr 2018
Stuart Ayres MP, Member for Western Sydney was joined by Matt Kean, Minister for Innovation & Better Regulation to announce that NSW consumers are now able to enjoy extended expiry dates on gift cards thanks to nation-leading reforms introduced by the NSW Government.

Stuart Ayres said all gift cards sold in NSW must have a minimum three-year expiry date.

He said the move that officially came into force on March 31 would put up to $60 million a year back in the hands of NSW shoppers.

“Previously, the majority of gift cards only offered a 12-month expiry date, but now consumers have three years to use them – and that’s a big win for consumers in NSW,” Stuart Ayres said.

“I’m thrilled they’ll now be able to enjoy more flexibility when it comes to how they choose to spend their hard-earned cash.”

NSW resident, Ms Kaisha James who joined Mr Kean and Mr Ayres has welcomed the announcement saying “it’s a great way to make sure the value of the gift card gets used before it expires.”

Mr Kean said these Australian-first reforms put consumers first so when they head to the shops they know they’re getting a fair go.

“This is all about giving consumers confidence that when they buy gift cards for friends or relatives, they’re getting value for money,” Mr Kean said.

 
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