Comptroller: Read Fine Print on Gift Cards
The New York State Comptroller is cautioning residents to make sure they read the fine print on gift cards they may be buying for holiday gifts.
Some cards carry fees and expiration dates.
Thomas DiNapoli says, while some gift card sellers have done away with inactivity fees, consumers should still ask if there are fees when they buy gift cards.
Last year, $11 million from unused cards were turned over to the state.
DiNapoli says people should make sure they use a gift card within a year of purchase to avoid an inactivity fee.
Money from unused gift cards in New York is turned over to the Comptroller’s office after five years of dormancy as abandoned property.